A Study on the Disposition Effect of Individual Investors in Different Stages of Business Cycles
| Autor: | Ying-Cai Wang, 王贏彩 |
|---|---|
| Rok vydání: | 2010 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 98 The study aims to investigate whether there exists disposition effect for individual investors related to the electronic stock index in Taiwan. This study follows Odean (1988) and employs the monthly data of all listed electronic companies, during the period of January, 2002 to December, 2009, to investigate the existence of disposition effect. In addition this study also investigates whether the disposition effect is explained by seasons, size of company, Taiwan stock index return and business cycle. The empirical results show that the exists negative relation between disposition effect and size. The smaller the size, the stronger the disposition effect. Overall speaking, the disposition effect is more significant in electronic components companies; while in less significant in communication related companies. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
| Externí odkaz: |
|