INVESTOR’S BEHAVI0R ON THE ROMANIAN CAPITAL MARKET

Flavia Barna (), Dan Dănuleţiu and Ovidiu Mura ()
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Flavia Barna: West University from Timisoara, Faculty of Economics and Business Administration, Romania
Ovidiu Mura: West University from Timisoara, Faculty of Economics and Business Administration, Romania

The Annals of the "Stefan cel Mare" University of Suceava. Fascicle of The Faculty of Economics and Public Administration, 2009, vol. 9, issue Special, 131-136

Abstract: The investors’ psychological training in order to accept taking chances on the capital market is one of the most important determinants of success. Information, with its many forms (TV, rumors etc.) is the essential element in performing the financial operations. The collective behavior has also a strong influence over decision making, since we already know that humans are social beings, rarely capable of analyzing the reality with the help of their own mind. The objective of this paper is to provide a compact theoretical framework regarding the investor’s behavior and to provide some empirical evidences about the Romanian capital market. The main output of the paper consists in the thesis that the capital market can sometimes be quite irrational and that there are psychological causes that bring a new approach over the way traditional literature used to present the rational behavior.

Keywords: investor behavior; risk profile; capital market. (search for similar items in EconPapers)
Date: 2009
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