The main purpose of this study is to investigate the effect of negative mood on domestic and foreign investors’ behaviour. In this study, negative mood is represented by prior loses. As is known, in today’s mood of investors who have losses in the previous day is negative. In this study, stock numbers in the portfolios of domestic and foreign investors and market values of these portfolios between November 2015 and April 2015 are used as data. Analyses are performed by OLS regression analysis with Newey-West estimator. The results of this study reveal that domestic investors with negative mood increase their stock demands instead of decreasing it the way foreign investors do. However, if the probability of making up for the prior losses increases on the next day, foreign investors also raise their stock demands.
Alan : Sosyal, Beşeri ve İdari Bilimler
Dergi Türü : Uluslararası
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