The Analysis of Factors Affecting Investor''s Stock Selling Decision
碩士 === 國立中正大學 === 會計與資訊科技研究所 === 96 === This study investigates the factors affecting investors’ stock selling decision. We classify the factors into two dimensions: the external environment and the stock characteristics factors. Our empirical results indicate that the external environment factors s...
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ndltd-TW-096CCU057360582016-05-04T04:25:45Z http://ndltd.ncl.edu.tw/handle/60092469960699642973 The Analysis of Factors Affecting Investor''s Stock Selling Decision 投資人出售持股決策之因素分析 Yi-hua Peng 彭以驊 碩士 國立中正大學 會計與資訊科技研究所 96 This study investigates the factors affecting investors’ stock selling decision. We classify the factors into two dimensions: the external environment and the stock characteristics factors. Our empirical results indicate that the external environment factors such as January effect, Taiwan index, and Dow Jones index are positively correlated with investors’ selling propensity and are significant. On the part of stock characteristics factors, we find that the past returns, holding period, reference price, and unrealized capital gain(or loss) are correlated with investors’ selling propensity and are significant. The evidence from the unrealized capital gain (or loss) also shows that investors tend to hold onto losing investments in the hope of a turn-around (disposition effect). However, we also find that the impact of disposition effect will reduce when investors’ level of wealth increases. none 林岳喬 2008 學位論文 ; thesis 50 zh-TW |
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碩士 === 國立中正大學 === 會計與資訊科技研究所 === 96 === This study investigates the factors affecting investors’ stock selling decision. We classify the factors into two dimensions: the external environment and the stock characteristics factors. Our empirical results indicate that the external environment factors such as January effect, Taiwan index, and Dow Jones index are positively correlated with investors’ selling propensity and are significant. On the part of stock characteristics factors, we find that the past returns, holding period, reference price, and unrealized capital gain(or loss) are correlated with investors’ selling propensity and are significant. The evidence from the unrealized capital gain (or loss) also shows that investors tend to hold onto losing investments in the hope of a turn-around (disposition effect). However, we also find that the impact of disposition effect will reduce when investors’ level of wealth increases.
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none Yi-hua Peng 彭以驊 |
author |
Yi-hua Peng 彭以驊 |
spellingShingle |
Yi-hua Peng 彭以驊 The Analysis of Factors Affecting Investor''s Stock Selling Decision |
author_sort |
Yi-hua Peng |
title |
The Analysis of Factors Affecting Investor''s Stock Selling Decision |
title_short |
The Analysis of Factors Affecting Investor''s Stock Selling Decision |
title_full |
The Analysis of Factors Affecting Investor''s Stock Selling Decision |
title_fullStr |
The Analysis of Factors Affecting Investor''s Stock Selling Decision |
title_full_unstemmed |
The Analysis of Factors Affecting Investor''s Stock Selling Decision |
title_sort |
analysis of factors affecting investor''s stock selling decision |
publishDate |
2008 |
url |
http://ndltd.ncl.edu.tw/handle/60092469960699642973 |
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