This study analyses how investors' educational characteristics affect their trading activity on the stock market. It uses a unique dataset from the Tallinn Stock Exchange, covering all transactions of a full business cycle from 2004 to 2012, along with a dataset containing the official...

The half-life is used to estimate the adjustment speed of a variable to a new equilibrium point after being affected by the impulse response of a unit of shocks. The paper examines the adjustment speed of COVID19, investor sentiment, and the stock market through half-life estimates over the...