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    政大機構典藏 > 商學院 > 財務管理學系 > 學位論文 >  Item 140.119/58931


    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/58931


    Title: 先前損失與後續交易行為: 以臺灣期貨市場為例
    Prior Losses and subsequent trading behavior of different types of traders: Evidence from the Taiwan Futures Exchange
    Authors: 李家齊
    Contributors: 周冠男
    李家齊
    Keywords: hedonic editing
    Date: 2012
    Issue Date: 2013-07-22 11:12:53 (UTC+8)
    Abstract: Using a dataset from TAIFEX, Taiwan Futures Exchange, we conduct an account-level analysis of the relation between prior loss consequences and subsequent trading behaviors. We apply two proxy variables of trading activities into our analysis, which are trade size and number of trades. We find that the degree of prior losses has a great effect upon trade size and trading number on the next trading day. This finding proves to the evidence that hedonic editing hypothesis sometimes fails and there are some limitations for it. We further examine for different trader types and the empirical results show that individual investors exhibit the strongest bias while other trader types do uncertainly. We also find the behavioral bias is a persistent phenomenon for individual investors. Overall, our study suggests that prior loss degree has a significant influence on investors’ following trading behaviors.
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    Description: 碩士
    國立政治大學
    財務管理研究所
    100357028
    101
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0100357028
    Data Type: thesis
    Appears in Collections:[財務管理學系] 學位論文

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