Population, Transaction Characteristics Influence Trading Performance-Evidence for FCM in Taiwan
| Autor: | Wu, Sheng-Yu, 吳聲譽 |
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| Rok vydání: | 2012 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 100 The major constituents of Taiwanese financial industry, like securities and futures market, are individual investors. In 2010, 47.93% of participants in Taiwanese futures market are individual investors, 42.83% are of FCMs’ proprietary traders, 7.73% are QFII, and 1.51% are investors from other categories. With the development of the financial market, performance of individual investors is especially important. Many factors affect performance of investors. They include the investors’ ability to understand assorted products, regulations for trading, and clearing and settlement in the futures market. Besides, the characteristics of the participants in the market also play an important role. To my knowledge, past studies rarely investigate the relationship between the performance of individual investors and their corresponding characteristics. To fill in this gap, this thesis examines the association between the performance of individual investors and population statistics. This data period covers 1st of January, 2010 to 31st of December, 2010. The result shows that traders from different residential areas, education levels, and gender have no prominent effects on performance. Although differences in financial capabilities, ages, and trading experiences also have no effects on trading performance, the first is negatively and the latter two they are positively correlated with the stability of their performance. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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