A Study on The Disposition Effect of Individual Investors - A Structural Equation Modeling Analysis
| Autor: | Ying-Jie Liao, 廖盈傑 |
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| Rok vydání: | 2006 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 94 The tendency to hold losing stocks too long and to sell winning stocks too early has been labeled the disposition effect by Shefrin and Statman (1985).This paper employs the disposition coefficient from Weber and Camerer, the sample uses TCRI level 1 to level 4 of TEJ and uses the redemption of margin purchase data to represent the trading behavior of individual investors. Through the empirical study, it appears that these investors indeed exhibit the disposition effect.this study also use path analysis of Structural Equation Modeling(SEM),we find stock average price,turnover rate and company equity can affect regret aversion and then affect the disposition effect,we also finds the company that individual investors thought the rating better to enterprises, higher appraisal exists, but it is not conspicuous to the disposition effect. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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