The Impact of Private and Public Information on the Trading Behavior in the Egyptian Stock Market
Metwally, A., Darwish, O. (2023). The Impact of Private and Public Information on the Trading Behavior in the Egyptian Stock Market. EKB Journal Management System, 60(5), 33-76. doi: 10.21608/acj.2023.320817
Ayman Hassan Metwally; Omneya Darwish. "The Impact of Private and Public Information on the Trading Behavior in the Egyptian Stock Market". EKB Journal Management System, 60, 5, 2023, 33-76. doi: 10.21608/acj.2023.320817
Metwally, A., Darwish, O. (2023). 'The Impact of Private and Public Information on the Trading Behavior in the Egyptian Stock Market', EKB Journal Management System, 60(5), pp. 33-76. doi: 10.21608/acj.2023.320817
Metwally, A., Darwish, O. The Impact of Private and Public Information on the Trading Behavior in the Egyptian Stock Market. EKB Journal Management System, 2023; 60(5): 33-76. doi: 10.21608/acj.2023.320817

The Impact of Private and Public Information on the Trading Behavior in the Egyptian Stock Market

مجلة جامعة الإسکندرية للعلوم الإدارية
Article 2, Volume 60, Issue 5, September 2023, Page 33-76  XML PDF (9.2 MB)
Document Type: المقالة الأصلية
DOI: 10.21608/acj.2023.320817
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Authors
Ayman Hassan Metwally1; Omneya Darwish2
1Arab Academy for Science, Technology & Maritime Transport
2Arab Academy for Science Technology & Maritime Transport
Abstract
The purpose of this study is to examine The Impact of Private and Public Information on the Trading Behavior in the Egyptian Stock Market, as hypothesized by Daniel et al. (1998).
The data covering twelve years from the Egyptian Stock Market, namely the period from 2002 to 2012 on the aggregate market level, is divided into four sub-periods: two tranquil upward-trending periods (2002-2005 and 2005-2008) and two volatile and downward-trending periods (the financial crisis of 2008-2010 and the Egyptian Revolution period of (2010-2012).
The study results show that private information shocks have a significant effect on market trading volume, providing evidence of the strong influence of private information on market turnover. This framework not only establishes the presence of an overconfidence bias in the Egyptian Stock Market, but also indicates how the bias changes in response to volatility and dispersion.
Keywords
Private information; public information; trading behavior; traditional finance; behavioral finance; Egyptian stock market; cognitive psychology
References
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