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An Empirical Evaluation of the Relation Between Stock Return, Investor Sentiment and Trading Volume in the German Stock Market

  • This thesis talks about the relation between investor sentiment, stock return and trading volume in the German stock market. Six Granger causality tests were performed in order to determine, whether one of the above mentioned factors is indicative of the others. The results imply that investor sentiment is indicative of both, stock return and trading volume in the specified time period. However, there is no further significant evidence for other relations among the variables. The results are mostly in line with the literature available on this topic and back up the importance of the concept of investor sentiment as investor sentiment delivers an attempt to explain why investors behave irrationally on the stock market. Hence, the factors influencing investor sentiment should be subject to further research in order to gain a broader understanding of the topic.

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Metadaten
Author:Erik Eberhardt
Advisor:Uwe Hack
Document Type:Bachelor Thesis
Language:English
Year of Completion:2020
Granting Institution:Hochschule Furtwangen
Release Date:2020/09/07
Tag:Behavioral finance; Efficient market hypothesis EMH; Heuristics; Investor sentiment; Irrational behavior; Stock return; Trading volume
Degree Program:BMP - Business Management and Psychology
Functional area:Finance & Accounting
Open Access:Innerhalb der Hochschule
Licence (German):License LogoEs gilt das UrhG