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INVESTOR’S BEHAVI0R ON THE ROMANIAN CAPITAL MARKET

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Author(s): Flavia BARNA

Journal: Annals of the Stefan cel Mare University of Suceava : Fascicle of the Faculty of Economics and Public Administration
ISSN 2066-575X

Volume: 9;
Issue: Special Number;
Start page: 17;
Date: 2009;
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Keywords: investor behavior | risk profile | capital market

ABSTRACT
The investors’ psychological training in order to accept taking chances on the capital market is one of themost important determinants of success. Information, with its many forms (TV, rumors etc.) is the essential element inperforming the financial operations. The collective behavior has also a strong influence over decision making, since wealready know that humans are social beings, rarely capable of analyzing the reality with the help of their own mind.The objective of this paper is to provide a compact theoretical framework regarding the investor’s behavior and toprovide some empirical evidences about the Romanian capital market. The main output of the paper consists in thethesis that the capital market can sometimes be quite irrational and that there are psychological causes that bring anew approach over the way traditional literature used to present the rational behavior.

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