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A Study on the Effect of Investor''s Attributes and Investiong Characteristics on the Stretegy of Selecting Stocks and Investing Performances / 投資人人格特質、投資特性對選股策略與投資績效影響之研究

碩士 / 淡江大學 / 國際企業學系 / 83 / This study based on questionaires whose studying period during 1993.12.1 and 1994.12.1 focuses on the individual investor''s attributes including risk taking, opinion leadership, internal and external control, and the investing charterestics including paying attention to the investing skills, sensitive to news and laws, will affect on the investor''s investing behavior and performance. In the meanwhile, this study will also confirm whethere Fishbein''s reasoned action theory holds in the investing behavior on the first category stock, second category stock, full delivery stock and trust fund.
  The statististic methods used in this study include frequency distribution, Bonferroni T test, chi-square lest, factor analysis, cluster analysis, and LISREL. In the sampling design,this study uses two-step sampling and distinguishes the two kinds of opinion average'' from ''no comment'' to avoid the defects of the long qustionaires. And the studing object focuses on the investors trading over the counter to make the sample group better cognition.
  Through this study, we find:
  1.from the chi-square values, good of fit index(GFI), and adjusted good of fit index(AGFI), we can''t find significant differences during the model testing. The results above make the Fishbein theory hold in the investing behavior on the four categories of stock.
  2.the investors with opnion leadership tendency, risk taking tendency, paying attention to investion skill, sensity to news and laws will ger better return then those who do not have such attributes. But investors with internal or external control do not have significant differences in return. Investors invest on the four categories of stock do not have significant differences in return.
  3.investors with risk taking tndency may easily influence by their attitudes. Investors with opinion leadership tendency and internal control may easily influence by reference group''s norms. Investors paying attention to investing skill and senstive to news and laws will easily influence by their attitudes and reference group''s norms.
  4.investors who invest on the first category stock will pay attention to the yield-spread of the stock and cash dividend. Investors who invest on the second category stock will pay attention to the yield-spread of the stock and stock dividend. Investors who invest on the full delivery stock will pay attention to the yield-spread of stock stock and cash dividend. Investors who invest on the trust fund will pay attention to the yield-spread of stock and cash dividend.

Identiferoai:union.ndltd.org:TW/083TKU03320010
Date January 1995
CreatorsYu, Jing-Hsiang, 游景翔
ContributorsChang, Horng-Jinh, 張紘炬
Source SetsNational Digital Library of Theses and Dissertations in Taiwan
Languagezh-TW
Detected LanguageEnglish
Type學位論文 ; thesis
Format160

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