Investor’s psychology cycle on the romanian capital market

Aurora Murgea ()

Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), 2008, vol. 55, 111-119

Abstract: Modern financial economics assumes that we behave with extreme rationality but we do not. Furthermore, our deviations from rationality are often systematic.This paper tries to offer a starting point in the investor’s psychology analyses in the framework of the latest events in the Romanian capi-tal market. The main conclusion is that the two main phenomenon noticed on this market – the “auto-sustainable” downward trend and the tendency for increase in the market intrinsic volatility lead to a mouvement in the investors’ psychology cicle from the enthusiastic position (in the final of 2007) to the fear/panic position in the October 2008.

Keywords: investor psychology; stocks; risk; return; behavior (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:aic:journl:y:2008:v:55:p:111-119

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