IDEAS home Printed from https://ideas.repec.org/p/hal/journl/halshs-00337337.html
   My bibliography  Save this paper

Le « Feedback Trading » Des Investisseurs Etrangers Lors D'Un Krach Boursier : L'Exemple Du Marche Des Actions Thaïlandaises (1996-1998)

Author

Listed:
  • Sandy Campart

    (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique)

Abstract

This paper examines the positive feedback trading of foreign investors and its impact on stock prices before, during and after the Thai stock market crash during the period of January 3, 1996 to december 30, 1998. First, we will find evidence that foreign investors adopted trend chasing strategies whereas local individual investors were negative feedback traders and local institutions were neither positive nor negative feedback traders (they were simply net sellers during the entire sample period). Second, we will show that the feedback trading of foreign and local individual investors strengthened during the in-crisis period. Third, our data will prove that foreign investors did not impact on stock prices from 1996 to 1998. During the pre-crisis period and during a large part of the in-crisis period, they were even the counterparts to the sell orders of domestic investors.

Suggested Citation

  • Sandy Campart, 2000. "Le « Feedback Trading » Des Investisseurs Etrangers Lors D'Un Krach Boursier : L'Exemple Du Marche Des Actions Thaïlandaises (1996-1998)," Post-Print halshs-00337337, HAL.
    • Handle: RePEc:hal:journl:halshs-00337337
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Keywords

    feedback trading; krach boursier;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:halshs-00337337. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.