In the past, most researchers found investors tend to be overconfident when making investment decisions. This paper, under the assumption that investors have the disposition of overconfidence, tries to examine whether investors will display different degrees of overconfidence when facing different situations. Results have been found investors will have more
confidence in processing the information the market has revealed to make investments when facing companies with high firm-specific risks. Therefore, firm-specific risks will influence overconfident investors¡¦ investment decisions. Furthermore, this paper tries to further divide companies under
consideration into three groups according to their market share to discuss overconfident investors¡¦ behavior. Finally, this paper uses some quantitative variables to proxy public and private information to test whether investors in Taiwan tend to overreact to private information than to public information. The results have proven that investors¡¦ overreaction to private information in Taiwan comply with other behaviors of investors in other countries.
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-1203107-104627 |
| Date | 03 December 2007 |
| Creators | Lu, Fang-yu |
| Contributors | David S. Shyu, Jen-Jsung Huang, Y. Chris Liao |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | Cholon |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-1203107-104627 |
| Rights | withheld, Copyright information available at source archive |
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