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Investment approach, predictability and mediating effect of the market profitability index on investor sentiment on the West African Regional Stock Exchange

Investment approach, predictability and mediating effect of the market profitability index on... Emerging markets have diversification potential for international investors - provided they know the characteristics of these markets in order to make good allocation decisions. In this perspective, this paper studies the predictability of the West African Regional Stock Exchange's indicators with investors' investment approach and the mediating effects of the profitability index between their sentiment and market liquidity. The results indicate that the market profitability index plays a moderating role rather than mediating role between investor sentiment and market liquidity. In the context of predictability, the results are contradictory. Apparently, in a perceptible illusion and logic of savings on the market, investors are unable to correctly anticipate the development of the market, which is rather relatively stable. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Afro-Asian Journal of Finance and Accounting Inderscience Publishers

Investment approach, predictability and mediating effect of the market profitability index on investor sentiment on the West African Regional Stock Exchange

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Publisher
Inderscience Publishers
Copyright
Copyright © Inderscience Enterprises Ltd
ISSN
1751-6447
eISSN
1751-6455
DOI
10.1504/aajfa.2023.129552
Publisher site
See Article on Publisher Site

Abstract

Emerging markets have diversification potential for international investors - provided they know the characteristics of these markets in order to make good allocation decisions. In this perspective, this paper studies the predictability of the West African Regional Stock Exchange's indicators with investors' investment approach and the mediating effects of the profitability index between their sentiment and market liquidity. The results indicate that the market profitability index plays a moderating role rather than mediating role between investor sentiment and market liquidity. In the context of predictability, the results are contradictory. Apparently, in a perceptible illusion and logic of savings on the market, investors are unable to correctly anticipate the development of the market, which is rather relatively stable.

Journal

Afro-Asian Journal of Finance and AccountingInderscience Publishers

Published: Jan 1, 2023

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