How Do Traders Influence Investor Confidence and Trading Volume? A Dyad Study in the Futures Market

Suechin Yang, Yahui Hsu and Chiayu Tu

Emerging Markets Finance and Trade, 2012, vol. 48, issue S3, 23-34

Abstract: This study explains factors that influence trade volume and reexamines the model of investor confidence with regard to the characteristics of traders. Moreover, this research examines how trader demographic characteristics and personality moderate the relationship between investor confidence and trading volume. This research tests hypotheses on the basis of data collected from 206 futures investor-trader dyads. Findings provide support for the theoretical model and have implications for research on investor confidence and behavioral finance. In addition, this paper discusses limitations to this research, future research directions, and theoretical and practical implications.

Keywords: behavioral finance; futures market; investor confidence (search for similar items in EconPapers)
Date: 2012
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