ปริมาณการซื้อขายของนักลงทุนสถาบันกับพฤติกรรมแห่ตามกันของนักลงทุนต่างชาติและนักลงทุนรายย่อย

Abstract

Institutional investors are considered to be more capable, rational, and skilled in selecting investments compared to individual investors. They also have better access to a greater amount of information that is received faster compared to foreign investors. The herding behavior of institutional investors has a more significant impact on the market than that of individual investors. Furthermore, herding behavior among institutional investors often results from their interaction with one another. The study aims to investigate whether institutional investors tend to act in unison to follow the lead of individual investors and foreign investors. The results are based on abnormal turnover. The findings indicate that institutional investors tend to pool their resources to buy more than to sell and are more likely to follow the lead of retail investors than foreign investors.