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政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 > Item 140.119/62430

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/62430

Title:	A Test of the Different Implications of the Overconfidence and Disposition Hypotheses
Authors:	周冠男;王韻怡 Chou, Robin K.;Wang, Yun-Yi
Contributors:	政大財管系
Keywords:	Disposition effect;Order aggressiveness;Overconfidence;Signed volume
Date:	2011-08
Issue Date:	2013-12-12 17:11:24 (UTC+8)
Abstract:	Under both the overconfidence and disposition biases, a positive relationship is predicted between prior returns and subsequent trading volume. However, theoretically the overconfidence and disposition effects have different implications on the relationships between the long- and short-position gains of traders and their subsequent buying and selling activities. We examine a unique dataset obtained from the Taiwan Futures Exchange which records all account-level trades and orders. Our data and methodology have the advantage of being able to empirically differentiate these two effects and we demonstrate that different types of traders exhibit different types and levels of behavioral biases.
Relation:	Journal of Banking and Finance, 35(8), 2037-2046
Data Type:	article
DOI 連結:	http://dx.doi.org/10.1016/j.jbankfin.2011.01.018
DOI:	10.1016/j.jbankfin.2011.01.018
Appears in Collections:	[財務管理學系] 期刊論文

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