ANALYSIS OF THE STRUCTURE OF INVESTORS ON THE WARSAW EXCHANGE CONSIDERING WIG20 FLUCTUATIONS

Abstract

The aim of the article will be an attempt to assess the mood of different groups of investors, based on the dynamics of their market shares in the period of 2003-2009. The empirical research will be aimed at examining the structure of investors in the WIG20. The next step will be an extrapolation of the trend in order to determine the future path of investors interest in relation to forecast evolution of the WIG20 index. The trend of phenomenon development will be designated on the basis of data exchange presented in the form of time sequence. The extraction of the trend will be conducted with the analytical method involving the appointment of a mathematical function of a linear trend. Then, using the least squares method, the impact of seasonal and random factors will be estimated. After their assessment, based on the multiplicative model, the trend of the general structure of the investor on the Stock Exchange could be determined.