The research of herding behavior of individual investors in stock market- Take investors of Kaohsiung City''s financial institutions for example

• Main Authors: Chih-wei Tseng, 曾智偉
• Other Authors: Gow-liang Huang
• Format: Others
• Language: zh-TW
• Published: 2007
• Online Access: http://ndltd.ncl.edu.tw/handle/02700850442904476045

碩士 === 國立高雄第一科技大學 === 金融營運所 === 95 === This study examines whether individual investors have herding behavior in Taiwan stock market. This study tries to construct a research structure of analyzing herding behavior. It includes “individual optimistic degree of investment performance”, “individual optimistic degree to economics”, “information behavior” and “investment behavior” four variables and applies survey design to measure mental reaction and behavioral reaction. We use these four variables to confer which variable has remarkable influence. We use LISREL to examine these four variables. We find that only “individual optimistic degree to economics” and “information behavior” of individual investors will have significant influence in herding behavior. In addition, according to the study, we find that behavioral reaction is more remarkable than mental reaction.