STYLE INVESTING OF VARIOUS INVESTOR TYPES IN THAILAND
Abstract
This study examined the style trading behavior of 4 investor types in Stock Exchange of Thailand during 1999-2013. This study identified that investors had their specific preference style or not by categorizing stocks into 3 style dimensions: size, value/growth, and momentum. After comparing each
type of investors’ style position with market position benchmark, evidence was found that each type of investors had their own preference style. Foreign investors preferred to invest in medium size, growth, and negative past return stocks. On contrary, Institutional investor tended to invest in large size, value, and positive past return stocks. Proprietary and Individual investors preferred to trade in value and negative past return stocks. However, Proprietary trader traded in medium size stocks while Individual investors preferred to invest in small size stocks.
Keywords
References
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