Investor Behaviour During COVID-19 Pandemic: Do They Herding?

Firda Nosita and Rifqi Amrulloh

A chapter in Macroeconomic Risk and Growth in the Southeast Asian Countries: Insight from SEA, 2023, vol. 33B, pp 115-135 from Emerald Group Publishing Limited

Abstract: The authors believe the COVID-19 pandemic has an impact on supply and demand. The potential decline in real sector performance leads to lower expectations of securities performance. The uncertainty of future performance can change investor behaviour. This study tried to gain insight into stock investor behaviour during the COVID-19 pandemic. The results showed that the majority of the investor realized and believed the pandemic would affect the stock market performance. Hence, they did not show herding behaviour and were very confident during the COVID-19 pandemic. The survey also indicates that investors tend to avoid risk rather than take the opportunity to buy at a lower price. Moreover, investors believe that the COVID-19 vaccine will soon be found, and the economy will return to normal. Government and self-regulated organizations (SRO) are responsible for making effective policies to convince the investors about the future prospect.

Keywords: COVID-19; investor behaviour; financial behaviour; herding; Indonesia capital market; investment management; G0; G1; G4 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eme:isetez:s1571-03862023000033b008

DOI: 10.1108/S1571-03862023000033B008

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