What Makes Investors Trade ?  

Oleh:

Grinblatt, Mark ; Keloharju, Matti

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Journal of Finance (EBSCO) vol. 56 no. 2 (2001), page 589-616.
Topik: investors; regression analysis; securities trading; investment policy; studies
Fulltext: p 589.pdf (302.26KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ88 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

A unique data set allows researchers to monitor the buys, sells, and holds of individuals and institutions in the Finnish stock market on a daily basis. With this data set, this research employs Logit regressions to identify the determinants of buying and selling activity over a two - year period. Evidence is found that investors are reluctant to realize losses, that they engage in tax - loss selling activity, and that past returns and historical price patterns, such as being at a monthly high or low, affect trading. There is also modest evidence that life - cycle trading plays a role in the pattern of buys and sells.

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