التفاصيل البيبلوغرافية
| العنوان: |
Individual Investor and Volatility: Case Robinhood |
| المؤلفون: |
Valkama, Ville Johannes Kalervo |
| المساهمون: |
fi=Vaasan yliopisto|en=University of Vaasa, fi=Laskentatoimen ja rahoituksen yksikkö|en=School of Accounting and Finance |
| سنة النشر: |
2024 |
| المجموعة: |
Osuva (University of Vaasa) |
| مصطلحات موضوعية: |
investors, volatility (societal properties), investments (economics), Master's Degree Programme in Finance, fi=Laskentatoimi ja rahoitus|en=Accounting and Finance |
| الوصف: |
This thesis explores the relationship between stock price volatility and individual investor ownership, specifically focusing on the users of the Robinhood app. Individual investors play an increasingly more important role in the financial markets. Previous research connects individual investors to volatility, primarily through noise trading, herding and deviations from the decision-making processes expected by the rational choice theory. Studies on volatility involving individual investors have predominantly centred on analysing retail trading. The methodology consisted of non-parametric methods and linear regressions. We utilised the Robintrack dataset, which contains popularity metric data collected from the Robinhood brokerage, to study a sample of 3765 ordinary stocks. We first examined the contemporaneous relationship between individual investors and volatility. We sought to determine whether individual investors are associated with more volatile stocks. Based on the literature, we expected that individual investors may be associated with more volatile stocks; however, some risk-averse individual investors may systematically select lower-volatility stocks. Then, we examined whether individual investors are attracted to volatility and whether individual investor interest causes volatility. Results indicate that individual investors are associated with more volatile stocks, even after controlling for company size. The positive relationship between volatility and individual investor holdings is consistent with the two stories. First, securities that exhibit higher volatilities may attract individual investors. Second, higher volatility may result from an increase in individual investor interest. Yksityissijoittajien merkitys osakemarkkinoilla on kasvanut viime vuosina. Tutkielmassa perehdytään osakekurssien volatiliteetin ja yksityissijoittajien omistuksen väliseen suhteeseen. Aikaisempi tutkimus on yhdistänyt yksityissijoittajat ja volatiliteetin laumakäyttäytymiseen, ei-informoitujen sijoittajien ... |
| نوع الوثيقة: |
master thesis |
| وصف الملف: |
fi=kokoteksti|en=fulltext; true |
| اللغة: |
English |
| Relation: |
https://osuva.uwasa.fi/handle/10024/17603; URN:NBN:fi-fe2024050627145 |
| الاتاحة: |
https://osuva.uwasa.fi/handle/10024/17603 |
| Rights: |
CC BY-NC-SA 4.0 |
| رقم الانضمام: |
edsbas.FDA451C8 |
| قاعدة البيانات: |
BASE |