MARKET EFFICIENCY AND BEHAVIORAL BIASES IN THE KOREAN FOREIGN EXCHANGE MARKET DURING THE GLOBAL FINANCIAL CRISIS
作者: Yoonmin Kim Matthew Minsuk Shin
刊名: Journal of International Business and Economics®, 2017, Vol.17 (1)
来源数据库: International Academy of Business and Economics
DOI: http://dx.doi.org/10.18374/JIBE-17-1.7
关键词: Confirmation biasKorean foreign exchange marketGlobal financial crisisMarket optimismEfficient market and behavioral finance hypotheses
原始语种摘要: Using the data set comprised of good and bad news, we have examined behavioral and efficient market hypotheses on the Korean foreign exchange market responses to the news during the global financial crisis. The results of this study are as the followings: First, the Korean foreign exchange market gave more weight to the bad news than to the good news during the crisis. Second, the Korean foreign exchange market responded considerably stronger to the bad news during negative momentum and the good news with positive momentum. Third, in the case of bad news, the Korean foreign exchange market gave more weight to the soft news than to the hard news during the crisis. Fourth, the impact of the unexpected news was stronger than the expected news. Lastly, Korean economy was neither dominated by...
全文获取路径: IABE  (合作)
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关键词翻译
关键词翻译
  • market 市场
  • unexpected 突然的
  • momentum 动量
  • economy 经济
  • crisis 危机
  • foreign 外国的
  • financial 财政的
  • during 在的期间
  • global 球状的
  • exchange 交换