Journal article
Psychological barriers in European stock markets: Where are they?



Publication Details
Authors:
Dorfleitner, G.; Klein, C.
Publication year:
2009
Journal:
Global Finance Journal
Pages range:
268-285
Volume number:
19
ISSN:
1044-0283

Abstract


We examine four European stock indices and the prices of eight major German stocks for indications of psychological barriers. The frequency, (expected) returns, intraday volatility and trading volume of these assets are studied contingent on whether the prices lie within a certain range around round numbers. Our results indicate that psychological barriers do not exist on a consistent basis. It seems that some barriers have disappeared after these anomalies have been published. This discovery is consistent with current literature findings about disappearing stock market anomalies.




Authors/Editors

Last updated on 2019-25-07 at 14:46