The Sensitivity of Traders to Various Stock Exchange Factors

Student: Kaplunovich Ivan

Educational Programme: Joint HSE-NES Undergraduate Program in Economics (Bachelor)

Year of Graduation: 2017

The impact of macroeconomic shocks on the securities market has been widely studied over the past several decades. Predicting the behavior of the market in response to changes in inflation, interest rate, trade balance and other exogenous factors became possible due to numerous studies in this field. The securities market is viewed from different angles “from the outside”, but a few people focus on what is happening “inside” – why the bidder who successfully invested for two years stopped trading? Is this due to the unfavorable trend in the market or, in any case, to the changed policy of the regulator? This problem is especially relevant for stock exchanges, brokers and the Central Bank, but there have been no open access studies analyzing the behavior of the “unit” of the securities market – traders, due to the fact that it is almost impossible to obtain data on transactions containing IDs of investors.

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