Does Investor's Investment Rely On Their Confidence Or Trader? A Dyad Study In Futures Market
This paper explains factors that influence trade volume, and re-examines the model of investor confidence with characteristics of traders. Moreover, this paper tests how trader demographic characteristics (age, education and job seniority) and personality (extraversion and conscientiousness) moderates the relationship between investor confidence and their trade volume (total volume of investment and average volume of investment). This paper tests hypotheses on data collected from 206 futures investors-traders dyads. Analyses find that trader demographic characteristics and personality both play important role between investor confidence and their trade volume.