請用此 Handle URI 來引用此文件：
http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/80463完整後設資料紀錄
| DC 欄位 | 值 | 語言 |
|---|---|---|
| dc.contributor.advisor | 陳瑀屏(Yu-Ping Chen) | |
| dc.contributor.author | YU-JEN HUANG | en |
| dc.contributor.author | 黃昱仁 | zh_TW |
| dc.date.accessioned | 2022-11-24T03:07:10Z | - |
| dc.date.available | 2022-02-16 | |
| dc.date.available | 2022-11-24T03:07:10Z | - |
| dc.date.copyright | 2022-02-16 | |
| dc.date.issued | 2021 | |
| dc.date.submitted | 2021-11-17 | |
| dc.identifier.citation | Barber, B. M., Odean, T. (2000). Trading is hazardous to your wealth: The common stock investment performance of individual investors. The journal of Finance, 55(2), 773-806. Barber, B. M., Odean, T. (2001). Boys will be boys: Gender, overconfidence, and common stock investment. The quarterly journal of economics, 116(1), 261-292. Barber, B. M., Lee, Y. T., Liu, Y. J., Odean, T. (2009). Just how much do individual investors lose by trading?. The Review of Financial Studies, 22(2), 609-632. Barber, Brad M., Yi-Tsung Lee, Yu-Jane Liu, and Terrance Odean (2007), “Is the Aggregate Investor Reluctant to Realize Loss? Evidence From Taiwan,” European Financial Management, 13, 423–447. Barberis, N., Huang, M. (2001). Mental accounting, loss aversion, and individual stock returns. the Journal of Finance, 56(4), 1247-1292. Barberis, N., Xiong, W. (2009). What drives the disposition effect? An analysis of a long‐standing preference‐based explanation. the Journal of Finance, 64(2), 751-784. Bikhchandani, S., Hirshleifer, D., Welch, I. (1992). A theory of fads, fashion, custom, and cultural change as informational cascades. Journal of political Economy, 100(5), 992-1026. Bryman, A., Cramer, D. (1997). Quantitative data analysis with SPSS for Windows: A guide for social scientists. Routledge. Chiao, C., Hung, W., Lee, C. F. (2011). Institutional trading and opening price behavior: Evidence from a fast‐emerging market. Journal of Financial Research, 34(1), 131-154. Chou, Robin K., Yun-Yi Wang, and Xuemin Yan (2010), “Patterns and Consequences of the Disposition Effect,” The 18th Conference on the Theories and Practices of Securities and Financial Markets, Kaohsiung: National Sun Yat-sun University. Chow, Edward H., Hsiao-Mei Lin, Yo-Min Lin, and Yin-Che Weng (2011), “The Performance of Overconfident fund Managers,” Emerging Market Finance and Trade, 47, 21–30. Chuang, W. I., Susmel, R. (2011). Who is the more overconfident trader? Individual vs. institutional investors. Journal of Banking Finance, 35(7), 1626-1644. Cuieford, J. P. (1965). Fundamental Statistics in Psychology and Education, 4th (Ed), NY McGraw Hill. Day, RL (1977). Toward a Process. Daniel, K., Hirshleifer, D., Subrahmanyam, A. (1998). Investor psychology and security market under‐and overreactions. the Journal of Finance, 53(6), 1839-1885. De Bondt, W. F., Thaler, R. H. (1995). Financial decision-making in markets and firms: A behavioral perspective. Handbooks in operations research and management science, 9, 385-410. Feng, L., Seasholes, M. S. (2005). Do investor sophistication and trading experience eliminate behavioral biases in financial markets?. Review of Finance, 9(3), 305-351. Ferris, S. P., Haugen, R. A., Makhija, A. K. (1988). Predicting contemporary volume with historic volume at differential price levels: Evidence supporting the disposition effect. The Journal of Finance, 43(3), 677-697. Fischhoff, B., MacGregor, D. (1982). Subjective confidence in forecasts. Journal of Forecasting, 1(2), 155-172. Froot, K. A., Scharfstein, D. S., Stein, J. C. (1992). Herd on the street: Informational inefficiencies in a market with short‐term speculation. The Journal of Finance, 47(4), 1461-1484. Garvey, R., Murphy, A. (2004). Are professional traders too slow to realize their losses?. Financial Analysts Journal, 60(4), 35-43. Gervais, S., Odean, T. (2001). Learning to be overconfident. the Review of financial studies, 14(1), 1-27. Glaser, M., Weber, M. (2007). Overconfidence and trading volume. The Geneva Risk and Insurance Review, 32(1), 1-36. Glaser, M., Weber, M. (2009). Which past returns affect trading volume?. Journal of Financial Markets, 12(1), 1-31. Grinblatt, M., Keloharju, M. (2001). How distance, language, and culture influence stockholdings and trades. The Journal of Finance, 56(3), 1053-1073. Gupta, S., Kim, H. W. (2010). Value‐driven Internet shopping: The mental accounting theory perspective. Psychology Marketing, 27(1), 13-35. Hilary, G., Menzly, L. (2001). Does past success lead analysts to become overconfident? Unpublished working paper. Hsieh, Shu-Fan (2013), “Individual Institutional Herding and the Impact on Stock Returns: Evidence from Taiwan Stock Market,” International Review of Financial Analysis, 29, 175–188. Hsu, Y. L., Chow, E. H. (2013). The house money effect on investment risk taking: Evidence from Taiwan. Pacific-Basin Finance Journal, 21(1), 1102-1115. Hung, Weifeng, Chia-Chi Lu, and Cheng F. Lee (2010), “Mutual Fund Herding Its Impact on Stock Returns: Evidence From the Taiwan Stock Market,” Pacific-Basin Finance Journal, 18, 477–493. Kahneman, D., Lovallo, D. (1993). Timid choices and bold forecasts: A cognitive perspective on risk taking. Management science, 39(1), 17-31. Kahneman, D., Tversky, A. (1979). On the interpretation of intuitive probability: A reply to Jonathan Cohen. La Porta, R., Lopez-de-Silanes, F., Shleifer, A., Vishny, R. (2000). Investor protection and corporate governance. Journal of financial economics, 58(1-2), 3-27. Lakonishok, J., Smidt, S. (1986). Volume for winners and losers: Taxation and other motives for stock trading. The Journal of Finance, 41(4), 951-974. Lehenkari, M., Perttunen, J. (2004). Holding on to the losers: Finnish evidence. The Journal of Behavioral Finance, 5(2), 116-126. Li, Hung Chih, Chao Hsien Lin, Teng Yuan Cheng, and Syouching Lai (2013), “How Different Types of Traders Behave in the Taiwan Futures Market,” Journal of Futures Markets, 33, 1097–1117. Locke, P. R., Mann, S. C. (2005). Professional trader discipline and trade disposition. Journal of Financial economics, 76(2), 401-444. Locke, P. R., Onayev, Z. (2005). Trade duration: Information and trade disposition. Financial Review, 40(1), 113-129. Lovallo, D., Kahneman, D. (2003). Delusions of success. Harvard business review, 81(7), 56-63. March, J. G., Shapira, Z. (1987). Managerial perspectives on risk and risk taking. Management science, 33(11), 1404-1418. Mehrabian, A., Stefl, C. A. (1995). Basic temperament components of loneliness, shyness, and conformity. Social Behavior and Personality: an international journal, 23(3), 253-263. Milkman, K. L., Beshears, J. (2009). Mental accounting and small windfalls: Evidence from an online grocer. Journal of Economic Behavior Organization, 71(2), 384-394. Odean, T. (1998). Are investors reluctant to realize their losses?. The Journal of finance, 53(5), 1775-1798. Payne, J. W., Laughhunn, D. J., Crum, R. (1984). Multiattribute risky choice behavior: The editing of complex prospects. Management Science, 30(11), 1350-1361. Rosenberg, M. (1965). Rosenberg self-esteem scale (RSE). Acceptance and commitment therapy. Measures package, 61(52), 18. Shapira, Z., Venezia, I. (2001). Patterns of behavior of professionally managed and independent investors. Journal of Banking Finance, 25(8), 1573-1587. Shefrin, H., Statman, M. (1985). The disposition to sell winners too early and ride losers too long: Theory and evidence. The Journal of finance, 40(3), 777-790. Shu, Pei-Gi, Shean-Bii Chiu, and Hsiu-Chuan Yeh (2009), “The Impacts of Individual Attributes and Stock Characteristics on Herding,” Review of Security and Futures Markets, 21, 1–34. Shu, Pei-Gi, Yin-Hua Yeh, Shean-Bii Chiu, and Hsuan-Chi Chen (2005), “Are Taiwanese Individual Investors Reluctant to Realize Their Losses,” Pacific-Basin Finance Journal, 13, 201–223. Singh, S. (2012). Investor irrationality and self-defeating behavior: Insights from behavioral finance. Journal of Global Business Management, 8(1), 116. Statman, M., Thorley, S., Vorkink, K. (2006). Investor overconfidence and trading volume. The Review of Financial Studies, 19(4), 1531-1565. Thaler, R. (1980). Toward a positive theory of consumer choice. Journal of economic behavior organization, 1(1), 39-60. Thaler, R. (1985). Mental accounting and consumer choice. Marketing science, 4(3), 199-214. Thaler, R. H., Johnson, E. J. (1990). Gambling with the house money and trying to break even: The effects of prior outcomes on risky choice. Management science, 36(6), 643-660. Weber, E. U., Blais, A. R., Betz, N. E. (2002). A domain‐specific risk‐attitude scale: Measuring risk perceptions and risk behaviors. Journal of behavioral decision making, 15(4), 263-290. Weber, M., Camerer, C. F. (1998). The disposition effect in securities trading: An experimental analysis. Journal of Economic Behavior Organization, 33(2), 167-184. Xiao, J. J., O'Neill, B. (2018). Propensity to plan, financial capability, and financial satisfaction. International Journal of Consumer Studies, 42(5), 501-512. 王韻怡, 池祥萱, 周冠男. (2016). 行為財務學文獻回顧與展望: 台灣市場之研究. 經濟論文叢刊, 44(1), 1-55. 王韻怡, 池祥萱, 周冠男. (2016). 行為財務學文獻回顧與展望: 台灣市場之研究. 經濟論文叢刊, 44(1), 1-55. 古永嘉, 楊雪蘭. (2014). 企業研究方法, 華泰文化. 白芳苹. (2002). 基金投資人之錯置效果: 臺灣地區實證研究 (Doctoral dissertation). 江世豪 (2016)消費者心理帳戶行為之研究-以彩券為例. 2016. PhD Thesis. 李朝明（2003），〈台灣股票市場投資人處分效果與盈虧之細部研究〉，國 立台灣大學財務金融研究所碩士論文未出版。 林佑平（2012）框架效應、從眾效應與反抗心理對網路消費者決策之影響 林秋雲. (2002). 股票投資人處置效應之研究. 林哲鵬, 李春安, 葉智丞. (2012). 投資人情緒與價格動能之關聯性. 管理與系統, 19(4), 729-759. 林煜恩, 池祥萱. (2013). 共同基金處分效果, 強化承諾與動能投資策略. 管理學報, 30(2), 147-168. 袁正達. (2005). 認知失調與處置效應之行為研究: 以台灣股票投資人為例 (Doctoral dissertation, 撰者). 高亞蕾. (2003). 處置效應與訊息釋放之關聯性—以台灣股市為例. 許光華, 林秉瑋. (2005). 散戶投資人處分效果之研究-考量公司市場價值下之實證結果. 管理學報, 22(1), 85-107. 許祐瑞. (2002). 台灣股市散戶與三大法人處分效果之研究. 碩士論文, 國立高雄第一科技大學金融營運所, 高雄. 許培基, 陳軒基, 黃淑貞. (2005). 基金經理人為何出現群集行為?. 管理評論, 24(4), 57-81. 郭敏華, 郭迺鋒, 邱耀初, 范秉航. (2005). 性別與投資行為: 以台灣股票市場為例. 財務金融學刊, 13(2), 1-28. 陳鉦達（2009）消費者個人特質及從眾消費傾向間關係之研究 廖裕傑（2006）消費者人格傾向從眾行為研究以汽車電子安全防護裝置為例 盧育明. (2005). 行為財務學. 商鼎文化. 盧陽正, 翁振益, 方豪. (2008). 臺灣股市三大法人持股調整, 群聚效應, 回饋交易, 串流行為與群聚之動量持續性. 管理與系統, 15(4), 523-543. 顏信輝、張孟婷 (2005)，投資決策處置效應之實驗證據：市場走勢與風險態度之 影響。行為財務學理論與實證研討會 羅進水, 李春安. (2009). 從眾與非從眾行為對市場報酬衝擊之研究. 管理評論, 28(3), 21-41. | |
| dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/80463 | - |
| dc.description.abstract | 本研究參照Shefrin and Satman (1985)所提出之「處分效果」作為理論基礎，探討投資人行為是否具有「急售贏家，拙售輸家」的現象，從而導致負面的投資績效與影響。 本研究透過不同種類的溝通策略，設計有關「心理帳戶效果」以及「從眾效果」的溝通訊息進行操弄，使受測者進行模擬投資實驗。我們發現未經過溝通的投資人普遍存在處分效果，並且在極端大漲大跌的市況中仍然存在。然而，經過「心理帳戶效果」與「從眾效果」的溝通訊息操弄之後，皆可以有效降低處分效果，進而達到較佳之投資績效。 本研究更進一部探討不同屬性的投資人受到不同的溝通策略在處分效果的表現，我們發現具有心理帳戶效果特質較強的投資人，受到心理帳戶溝通訊息操弄之後，更顯著降低處分效果；具有從眾效果特質較強的投資人，受到從眾效果溝通訊息操弄之後，可以降低處分效果，但未達統計顯著水準。 因此，透過本研究可以得知根據投資人的不同心理特質，設計多元且適切的溝通策略與訊息，確實能夠改善投資人的處分效果，進而改善投資績效。 | zh_TW |
| dc.description.provenance | Made available in DSpace on 2022-11-24T03:07:10Z (GMT). No. of bitstreams: 1 U0001-1611202119200000.pdf: 5762876 bytes, checksum: d7bacfcbc54bbd956588bd7099d9655d (MD5) Previous issue date: 2021 | en |
| dc.description.tableofcontents | 口試委員會審定書 i 致謝 ii 中文摘要 iii Abstract iv 第一章：前言 1 第一節：研究動機 1 第二節：研究目的 2 第三節：研究流程與架構 3 第二章：文獻探討與假設 4 第一節：傳統財務學/行為財務學/展望理論 4 第二節：處分效果 5 第三節：從眾效果 10 第四節：心理帳戶理論(Mental Accounting Theory) 12 第五節：過度自信 14 第六節：文獻評析彙整 16 第七節：假說 17 第三章：研究方法 18 第一節：前測 18 第二節：正式實驗 18 第三節：資料來源 18 第四節：敘述性統計 19 第五節：前測總結 20 第六節：正式實驗問卷設計的發展與內容 22 第七節：研究變項及量表來源 24 第四章：實證結果分析 26 第一節：信度分析 26 第二節：正式實驗主要結果分析（假說驗證） 27 第三節：其他變數如何影響主要變數之相關性探討 30 第四節：正式實驗其他結果分析 44 第五節：研究結果之討論 55 第五章：結論與管理上的意涵 56 第一節：結論 56 第二節：管理意涵 56 第三節：限制與建議 57 參考文獻 59 附錄：問卷題目 64 | |
| dc.language.iso | zh-TW | |
| dc.subject | 溝通策略 | zh_TW |
| dc.subject | 處分效果 | zh_TW |
| dc.subject | 投資行為 | zh_TW |
| dc.subject | 心理帳戶效果 | zh_TW |
| dc.subject | 從眾效果 | zh_TW |
| dc.subject | Disposition effect | en |
| dc.subject | Communication strategy | en |
| dc.subject | Herding effect | en |
| dc.subject | Mental account effect | en |
| dc.subject | Investor behavior | en |
| dc.title | 投資人處分效果之研究 – 以心理帳戶理論與從眾效果為溝通策略 | zh_TW |
| dc.title | The Study on the Disposition Effect of Investors: Using Mental Accounting Theory and Herding Effect as Communication Strategy | en |
| dc.date.schoolyear | 110-1 | |
| dc.description.degree | 碩士 | |
| dc.contributor.oralexamcommittee | 陳聿宏(Hsin-Tsai Liu),曾俊凱(Chih-Yang Tseng) | |
| dc.subject.keyword | 處分效果,投資行為,心理帳戶效果,從眾效果,溝通策略, | zh_TW |
| dc.subject.keyword | Disposition effect,Investor behavior,Mental account effect,Herding effect,Communication strategy, | en |
| dc.relation.page | 68 | |
| dc.identifier.doi | 10.6342/NTU202104482 | |
| dc.rights.note | 同意授權(限校園內公開) | |
| dc.date.accepted | 2021-11-17 | |
| dc.contributor.author-college | 管理學院 | zh_TW |
| dc.contributor.author-dept | 國際企業學研究所 | zh_TW |
| 顯示於系所單位： | 國際企業學系 | |
文件中的檔案：
| 檔案 | 大小 | 格式 | |
|---|---|---|---|
| U0001-1611202119200000.pdf 授權僅限NTU校內IP使用（校園外請利用VPN校外連線服務） | 5.63 MB | Adobe PDF |
系統中的文件，除了特別指名其著作權條款之外，均受到著作權保護，並且保留所有的權利。