Investor Behavior in the October 1987 Stock Market Crash

Investor Behavior in the October 1987 Stock Market Crash

4.11 - 1251 ratings - Source

In a questionnaire survey we asked Japanese institutional investors to recall what they thought and did during the worldwide stock market crash in October, 1987. The results confirm that the drop in U. S. stock prices was the primary factor on their minds, and other news stories in the United States dominated Japanese news stories. A comparison with an earlier survey of U. 5. institutional investors at the time of the crash (Shiller [1987])shows a remarkable similarity between Japanese and U. S. institutional investors in a number of attitudinal and behavioral dimensions. The results suggest that events in the United States were the proximate cause of the crash in Japan, but that the transmission mechanism of the crash was very similar in both countriesREFERENCES Brady Nicholas F. , Chairman, Report of the Presidential Task Force on Market Mechanisms . U. S. Government Printing Office, Washington, 1988. Leland, Hayne E. , aquot;On the Stock Market Crash and Portfolio Insurance, aquot;anbsp;...

Title:Investor Behavior in the October 1987 Stock Market Crash
Author:Robert J. Shiller, Fumiko Konya, Yoshiro Tsutsui
Publisher: - 1988


You Must CONTINUE and create a free account to access unlimited downloads & streaming