English  |  正體中文  |  简体中文  |  Items with full text/Total items : 49287/83828 (59%)
Visitors : 7147124      Online Users : 59
RC Version 7.0 © Powered By DSPACE, MIT. Enhanced by NTU Library & TKU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/87211


    Title: 臺灣證券市場處分效果之研究
    Other Titles: The disposition effect in Taiwan stock market
    台灣證券市場處分效果之研究
    Authors: 胡讚嶽;Hu, Tsan-Yueh
    Contributors: 淡江大學財務金融學系碩士在職專班
    邱建良
    Keywords: 行為財務;處分效果;效率市場;disposition effect;behavioral finance;Efficient Market
    Date: 2012
    Issue Date: 2013-04-13 10:51:25 (UTC+8)
    Abstract: Shefrin and Statman (1985)的處分效果,係指投資者傾向對於獲利的股票賣出太快,而當面對產生損失的股票則呈繼續持有的行為傾向。本研究採用Weber and Camerer (1998)提出處分係數法,將參與台灣證券市場的交易人分為機構投資人與散戶投資人,機構投資人又可區分為外資法人、投信法人及自營商,本研究依四種身份類別投資人進行處分效果檢驗,使用t檢定與變異數分析彙總結果,依樣本區間內之資料實證發現,處分效果最明顯者為散戶投資人,自營商次之,而外資法人若其交易內容為台灣五十成份股及其交易量最大之60檔個股時,不存在處分效果,但若是以台灣證券市場全體個股為分析基礎時,存在處分效果,而投信法人則不存在處分效果。
    The tendency of investors to sell winning investments too soon and hold losing investments too longe has been labeled the disposition effect by Shefrin and Statman (1985). We employ the disposition coefficient approach proposed by Weber and Camerer (1998) to test the disposition effect of all kinds of investors in Taiwan stock market.
    This paper will be involved in the Taiwan stock market traders are divided into the institutional investors and retail investors, institutional investors can be divided into Qualified Foreign Institutional Investors investment trust corporate and dealers, The disposition effect test, according to the four identity types of investments, using the t test and ANOVA analysis of empirical discovery in accordance with the data within the sample interval, the disposition effect is most obvious for individual investors, followed by the dealers. And Qualified Foreign Institutional Investors transaction details for the 50 constituent stocks in Taiwan and its trading volume of the 60 stocks, there is no disposition effect, but if of all stocks in the Taiwan stock market for the analysis of the basis, there is the disposition effect. Investment Trust legal then there is no disposition effect.
    Appears in Collections:[財務金融學系暨研究所] 學位論文

    Files in This Item:

    File SizeFormat
    index.html0KbHTML59View/Open

    All items in 機構典藏 are protected by copyright, with all rights reserved.


    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library & TKU Library IR teams. Copyright ©   - Feedback