DC Field | Value | Language |
---|---|---|
dc.contributor.author | Kang, Jangkoo | - |
dc.contributor.author | Kim, In Joon | - |
dc.contributor.author | Lee, Wol Goo | - |
dc.contributor.author | Moon, Haeeun | - |
dc.date.accessioned | 2008-07-03T02:34:54Z | - |
dc.date.available | 2008-07-03T02:34:54Z | - |
dc.date.created | 2012-02-06 | - |
dc.date.issued | 2005 | - |
dc.identifier.citation | 한국증권학회 KSA(Korean Secutiyies Association) 학술발표회, v., no., pp.1 - 34 | - |
dc.identifier.uri | http://hdl.handle.net/10203/5419 | - |
dc.description.abstract | We analyze the trading records of 25 day-traders from a brokerage firm to explore how day-traders trade and how their trades affect futures prices. We find evidence that day-traders herd and follow positive feedback trading strategies. Day-traders trade with positive feedback within 3 minutes before they place a buy or a sell order. Even though day-traders are often blamed to destabilize the financial market, neither herding nor positive feedback trading necessarily destabilize prices. When we investigate the impact of heavy volume of orders by day-traders on futures prices during the day, no convincing evidence is found that day-traders destabilize prices in the financial markets. On the contrary, they quickly catch up the signal of price changes and spread the information by placing sell or buy orders. | - |
dc.language | KOR | - |
dc.language.iso | en_US | en |
dc.publisher | 한국증권학회 | - |
dc.title | Do Day-traders Destabilize the Market? : The Case of the KOSPI200 Futures Market | - |
dc.type | Conference | - |
dc.type.rims | CONF | - |
dc.citation.beginningpage | 1 | - |
dc.citation.endingpage | 34 | - |
dc.citation.publicationname | 한국증권학회 KSA(Korean Secutiyies Association) 학술발표회 | - |
dc.identifier.conferencecountry | South Korea | - |
dc.identifier.conferencecountry | South Korea | - |
dc.contributor.localauthor | Kang, Jangkoo | - |
dc.contributor.nonIdAuthor | Kim, In Joon | - |
dc.contributor.nonIdAuthor | Lee, Wol Goo | - |
dc.contributor.nonIdAuthor | Moon, Haeeun | - |
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