کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
975831 | 933058 | 2006 | 18 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Revealed stock preferences of individual investors: Evidence from Chinese equity markets
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
We examine the stock preferences of Chinese individual investors as revealed by their executed trades. Results show that their stock preferences vary with wealth levels. Wealthier individuals prefer stocks with high liquidity and volatility, greater state-ownership, high growth potential, and strong past performance. Less wealthy individuals, however, prefer stocks with high beta, high liquidity, poor past performance, low price, and small capitalization. Overall, the investment choices of Chinese individual investors do not necessarily suggest only behavioral biases as existing studies might have implied, but instead, they reveal to some extent the rational investing behavior of Chinese individual investors.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Pacific-Basin Finance Journal - Volume 14, Issue 2, April 2006, Pages 175–192
Journal: Pacific-Basin Finance Journal - Volume 14, Issue 2, April 2006, Pages 175–192
نویسندگان
Lilian Ng, Fei Wu,