碩士 / 世新大學 / 財務金融學研究所(含碩專班) / 97 / The purpose of this study is to examine the relationship among characteristics of fund or fund companies, personal characteristics of fund managers, and their overconfidence. We define three dimensions of fund manager’s characteristics include demographics, sentiment, and investment behavior. As to the fund, it covers the numbers of operating funds, the type of fund, the scale of fund, and its trading volume. With respect to the fund company, it comprises of foreign or local companies and their investment decision making types. The overconfidence of fund manager is classified into two types as “certainty overconfidence” and “prediction overconfidence” by adopting questionnaire survey on investigating current Taiwanese fund managers.
Based on descriptive statistics and chi-square tests, the study finds that the overconfidence behavior exists among Taiwanese fund managers, and it is more significant in certainty overconfidence than in prediction overconfidence. In addition, we apply the logarithm model and show the similar results that prediction overconfidence is more significant than certainty overconfidence. Fund managers who are female, have lower education level, manage high-income funds are prone to be overconfidence. Pessimistic fund managers are presenting more overconfident than optimistic fund managers. The more funds a fund manager runs, the easier he/she would be tending to be overconfidence. Finally, when fund companies adopt the step by step or group discussion decision-making strategy, their fund managers would toward to be more overconfidence.
| Identifer | oai:union.ndltd.org:TW/097SHU05304036 |
| Date | January 2009 |
| Creators | Ju-hsin Lee, 李如欣 |
| Contributors | Yuan-Lin Hsu, 徐苑玲 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 72 |
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