Investor psychology. Trends and international financial markets mutations

33,72 Lei

ISBN: 978-606-591-071-3

Publisher year: 2011

Edition: I

Pages: 258

Publisher: Editura Universitară

Author: Oana Mionel

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Today, we live in a very interesting financial world, unique in its way, and yet so different, characterized by financial markets increasingly sophisticated financial products innovation and fierce competition between global financial investors. As Oana Mionel surprise in this book, changing attitudes major financial markets and participants in these markets began to show significantly since the early '90s, with the onset of the new era of globalization. The core around which all economic and financial activities is the mutation rate in the behavior of financial players, going from one rational as we describe the efficient markets theory to one psychological surprised and very well described in this paper empirical evidences. The author submits us some of the most important trends and mutations that have occurred in financial markets, with specific implications on the international currency market, completing a series of relevant examples, concrete and practical risks involved in the investment decision and the increasing role more pronounced in terms of investor psychology emphasis globalization.

Regarding the conceptual foundations of the global financial environment, are highlighted both the positive and negative ones that involve the process of globalization on the world economy, thus completing the structural picture of the financial universe. Also in this section is revealed in a clear economic and financial theories, considered superior forms of scientific knowledge embodied in ideas, hypotheses, laws and concepts that reflect reality intercede. At the end of this part identifies key methods of psychology, economics and mathematics to help foreign investors emphasize behavioral mutations. Globalization of financial markets has required several steps that led to financial innovations. Also, primary author says international financial environment is complex following elements: deleveraging, deregulation, opening of financial markets, development of IT, "professional markets", progress in theory and practice of finance, etc.. Common to all financial progress and the subject is the role of markets - growth and development of markets, increased competition and free markets, increase market efficiency, increase market confidence in the forces and mechanisms, and creating the best techniques and tools market. Interdependence of these forces creates, as you noted Mionel Oana, a global environment of creativity and psychological effervescent investors.

For example, as prices are conditioned from an economy of buyers and sellers interact and exchange rates vary depending on the permanent contact of shareholders, companies and financial institutions buy and sell currency in order to make certain payments. In the currency market, currency market participants use in trading activity and numerous hedging derivatives (forward contracts, futures, options, swaps). Over time, financial derivatives and transactions with them were located on the front pages of magazines and newspapers specialized in exorbitant gains and losses derived from transactions with financial derivatives. So, before starting an investment in the currency market, or rather, before they start a fight "melee" the consequences of this type of investment, the investor must understand the forces underlying concepts leading foreign exchange market and these forces.

An interesting analysis is performed by the author in the section dedicated to testing the two theories of economic and financial: purchasing power parity and international Fisher effect. The correctness analysis of the two theories was possible grace of wise choices, the most powerful and obvious international currencies: euro, dollar, yen, Swiss franc, etc.. End of the paper is devoted to the author whose knowledge of personality psychology is very important because in practice and in theory the situation is different. Moreover, the method of approach is different in classical and modern theories, as the latter put great emphasis on psychological knowledge of participants in the investment environment. Moreover, work is a logical thread throughout the five chapters with titles present and able to arouse curiosity for those who open this book. Based on how economic theories were presented, models interdisciplinary approach to human behavior, the architecture of international currency market, the international currency market mutations by capturing the most important triggers, and to the psychology of risk and personality psychology, all are presented in an original manner, placing the work on the line works of literature representative of Romania. I recommend this book to all those interested in the dynamics and psychology of financial markets - international currency.

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Oana Mionel

Doctor in Economics, awarded by the Academy of Economic Studies and also Associate Professor at the Faculty of International Economic Relations of the Christian University "Dimitrie Cantemir".

The author of this paper taught at school:Technology payments and international finance and International exchanges of values.

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