The Relationship of Mutual Fund Characteristic and Investors Behavior
碩士 === 國立高雄應用科技大學 === 金融資訊研究所 === 96 === This article discusses about the factors influencing on fund purchase and redemption, we chose Taiwan stock market funds as study subjects, and excluded the structure change of the model. This article is based on the model by O,Neal(2004) and discusses the fa...
Main Authors: | , |
---|---|
Other Authors: | |
Format: | Others |
Language: | zh-TW |
Published: |
2008
|
Online Access: | http://ndltd.ncl.edu.tw/handle/41554503015831819815 |
id |
ndltd-TW-096KUAS0213007 |
---|---|
record_format |
oai_dc |
spelling |
ndltd-TW-096KUAS02130072015-11-30T04:02:52Z http://ndltd.ncl.edu.tw/handle/41554503015831819815 The Relationship of Mutual Fund Characteristic and Investors Behavior 共同基金特質與投資人行為之研究 Mei-Tsu Lin 林美足 碩士 國立高雄應用科技大學 金融資訊研究所 96 This article discusses about the factors influencing on fund purchase and redemption, we chose Taiwan stock market funds as study subjects, and excluded the structure change of the model. This article is based on the model by O,Neal(2004) and discusses the factors that influencing Taiwan stock market funds investors, we also applied OLS to proceed the test results. We found the following results: 1. The purchasing traits of the investors include the preferences of high monthly return funds; high monthly turn over rate funds; low risk funds and small scale funds. They presume higher turn over rate can result in higher return. 2. Investors have Disposition effect while they make the redemption, they choose those better performance funds to make redemption. 3. There is positive relevance between a better performance stock fund in a previous month and the purchase increase of the stock fund. As a result, we conclude that Taiwan fund investors believe that the consistency in fund performance will continue, so it is likely for fund companies to achieve better sale growth when they emphasize the advertisement on the nice performance during the past. Chien-Heng Tu 杜建衡 2008 學位論文 ; thesis 56 zh-TW |
collection |
NDLTD |
language |
zh-TW |
format |
Others
|
sources |
NDLTD |
description |
碩士 === 國立高雄應用科技大學 === 金融資訊研究所 === 96 === This article discusses about the factors influencing on fund purchase and redemption, we chose Taiwan stock market funds as study subjects, and excluded the structure change of the model. This article is based on the model by O,Neal(2004) and discusses the factors that influencing Taiwan stock market funds investors, we also applied OLS to proceed the test results.
We found the following results:
1. The purchasing traits of the investors include the preferences of high monthly return funds; high monthly turn over rate funds; low risk funds and small scale funds. They presume higher turn over rate can result in higher return.
2. Investors have Disposition effect while they make the redemption, they choose those better performance funds to make redemption.
3. There is positive relevance between a better performance stock fund in a previous month and the purchase increase of the stock fund. As a result, we conclude that Taiwan fund investors believe that the consistency in fund performance will continue, so it is likely for fund companies to achieve better sale growth when they emphasize the advertisement on the nice performance during the past.
|
author2 |
Chien-Heng Tu |
author_facet |
Chien-Heng Tu Mei-Tsu Lin 林美足 |
author |
Mei-Tsu Lin 林美足 |
spellingShingle |
Mei-Tsu Lin 林美足 The Relationship of Mutual Fund Characteristic and Investors Behavior |
author_sort |
Mei-Tsu Lin |
title |
The Relationship of Mutual Fund Characteristic and Investors Behavior |
title_short |
The Relationship of Mutual Fund Characteristic and Investors Behavior |
title_full |
The Relationship of Mutual Fund Characteristic and Investors Behavior |
title_fullStr |
The Relationship of Mutual Fund Characteristic and Investors Behavior |
title_full_unstemmed |
The Relationship of Mutual Fund Characteristic and Investors Behavior |
title_sort |
relationship of mutual fund characteristic and investors behavior |
publishDate |
2008 |
url |
http://ndltd.ncl.edu.tw/handle/41554503015831819815 |
work_keys_str_mv |
AT meitsulin therelationshipofmutualfundcharacteristicandinvestorsbehavior AT línměizú therelationshipofmutualfundcharacteristicandinvestorsbehavior AT meitsulin gòngtóngjījīntèzhìyǔtóuzīrénxíngwèizhīyánjiū AT línměizú gòngtóngjījīntèzhìyǔtóuzīrénxíngwèizhīyánjiū AT meitsulin relationshipofmutualfundcharacteristicandinvestorsbehavior AT línměizú relationshipofmutualfundcharacteristicandinvestorsbehavior |
_version_ |
1718139709051371520 |