A Study of the Impact of Emotionally Excessive Self-confidence on nvestment Decision-making
| Autor: | Tsu-Hao Li, 李祖浩 |
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| Rok vydání: | 2009 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 97 In the present study, we investigate the disposition effect with overconfidence of Taiwan’s individual stock investors as the market is in bull periods or in the bear periods. Empirically, we find that the individual investors'' emotion would seldom to change along with the volatility of the stock price. The turnover rate of stock also would little increase in bull periods. The disposition effect of the institutional investors exits both in bull period and in bear period. In bull period, the disposition effect of institutional investors would be higher than that individual investors since the institutional investors could hold a huge fund and have much more information. Therefore, the institutional investors could make the accurate decisions. The turnover rate of institutional investors is much lower than individual investors in bull period because the individual investor is inclined to follow the market information and buy the rising and sell the falling. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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