The behavior of Malaysian stock market investors: a prospect theory perspective

dc.contributor.author	Nurliyana Thoh Binti Abdullah
dc.date.accessioned	2014-09-05T02:27:31Z
dc.date.available	2014-09-05T02:27:31Z
dc.date.issued	2005-05
dc.description.abstract	This research comes from a behavioral viewpoint on corporate finance and tries to explain the behavior of investors from a psychological approach, specifically by using prospect theory. The behavior of investors is captured through trading volume and the reaction is based on earnings surprise during earnings announcements. It is hypothesized that trading volume and earnings surprise is positively correlated, thus, predicting that investors would trade more during positive earnings surprises compared to negative earnings surprises. The sample of this study is 109 companies from the main board of Bursa Malaysia over a period of six quarterly earnings announcements. The results indicate that this behavior is not exhibited by investors and that this relationship is not influenced by firm size either. Nevertheless, a regression model on trading volume indicates that investors are more concerned with stock price and firm size rather than earnings surprise when they trade during earnings announcements.	en_US
dc.identifier.uri	http://hdl.handle.net/123456789/97
dc.language.iso	en	en_US
dc.subject	Business Administration	en_US
dc.subject	Stock Market Investors	en_US
dc.title	The behavior of Malaysian stock market investors: a prospect theory perspective	en_US
dc.type	Thesis	en_US

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