| Summary: | 碩士 === 國立東華大學 === 財務金融學系 === 104 === This study explores the impacts of investors' short-tern psychological stress on their investment performances by physiological experiment, and whether the pressure tips can promote their investment performances. In addition, this study also explores that the psychological stress level can be measured by whatphysiological indicators, as well as the level of stress,generated from stock market risk and noisy trading environment, bring to investors. With a sample consisted of university students and professional traders as experimental subjects, we draw several conclusions as follows. First, investors’ stress level represented by physiological indicators rise in high market risk situations, but the investment performance is not changed significantly. Second, investors’ stress level represented by physiological indicators rises in a noisy environment and their investment performance reduces significantly. This shows that noise in decision-making environment will deteriorate the investors’ performances. Third, prompting a high stress level for investors until the pressure drops, their performance in stock investmentsis significantly improved. Fourth, pressure tips benefit physiological indicators in high risk or noisy situations, thereby improving the investor's performance.Finally, we conclude that giving a pressure tip for an investor who has a high level of psychological stress benefits to his performance.
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