政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/62715

English | 正體中文 | 简体中文 | Post-Print筆數 : 27 | Items with full text/Total items : 113303/144284 (79%)
Visitors : 50806185 Online Users : 623

RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.

Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer

政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 > Item 140.119/62715

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/62715

Title:	The house money effect on investment risk taking: Evidence from Taiwan
Authors:	周行一 Hsu,Yuan-Lin;Chow,Edward H.
Contributors:	財管系
Keywords:	Behavioral finance;House money effect;Risk taking;Reference points
Date:	2013.01
Issue Date:	2013-12-19 11:56:12 (UTC+8)
Abstract:	This paper investigates the effect of house money on the risk taking behavior of individual investors. When gains are more substantial, individuals tend to take greater risk. The house money effect seems to decline over time because the propensity for risk taking following gains is diminished with time. This study shows that when evaluating investment gains, the reference points for investors are adapted over time, with the current salient reference point being the highest stock price attained at a given time in the past. The empirical evidence suggests that the house money effect is actually discernible in the real world financial markets and not just in artificial laboratory experiments.
Relation:	Pacific-Basin Finance Journal, 21(1), 1102-1115
Data Type:	article
DOI 連結:	http://dx.doi.org/10.1016/j.pacfin.2012.08.005
DOI:	10.1016/j.pacfin.2012.08.005
Appears in Collections:	[財務管理學系] 期刊論文

Files in This Item:

File	Description	Size	Format
11021115.pdf		222Kb	Adobe PDF2	1417	View/Open

社群 sharing

著作權政策宣告 Copyright Announcement

1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.

Loading...