Publication:
Trading performance of individual, institutional, and foreign investors: Evidence from the stock exchange of Thailand

Issued Date

2011-10-01

Resource Type

Article

ISSN

14502887

Other identifier(s)

2-s2.0-80054766422

Rights

Mahidol University

Rights Holder(s)

SCOPUS

Bibliographic Citation

International Research Journal of Finance and Economics. Vol.75, (2011), 157-174

Suggested Citation

Nareerat Taechapiroontong, Prapaporn Suecharoenkit Trading performance of individual, institutional, and foreign investors: Evidence from the stock exchange of Thailand. International Research Journal of Finance and Economics. Vol.75, (2011), 157-174. Retrieved from: https://repository.li.mahidol.ac.th/handle/20.500.14594/11848

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Title

Trading performance of individual, institutional, and foreign investors: Evidence from the stock exchange of Thailand

Author(s)

Nareerat Taechapiroontong
 Prapaporn Suecharoenkit

Other Contributor(s)

Mahidol University

Abstract

We examine whether domestic investors outperform foreign investors. Using transaction data from the Stock Exchange of Thailand from 1999 to 2004, we find that foreign investors, in general, trade at worse prices than domestic investors who have a greater information advantage. However, foreign investors perform best when buying medium size and large size stocks during a bull market. Individual investors tend to follow a contrarian trading strategy, which leads them to act as the liquidity providers to institutions. Intense trade imbalance can predict future returns. The intensity of individuals selling at peak prices influences future negative returns. Intense buying by foreign and institutional investors is followed by price increases. © EuroJournals Publishing, Inc. 2011.

Keyword(s)

Economics, Econometrics and Finance

Availability

URI

https://repository.li.mahidol.ac.th/handle/20.500.14594/11848

Collections

Scopus 2011-2015