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研究生:黃鈺婷
研究生(外文):Yu-Ting Huang
論文名稱:投資人之人格特質與過度自信行為研究─以台灣市場為例
論文名稱(外文):A Study on Investor’s Personality Trait and Over-confidence Behavior: The Case of Taiwan Stock Market
指導教授:趙莊敏趙莊敏引用關係吳斯偉吳斯偉引用關係
口試委員:李忠榮駱武昌
口試日期:2012-06-22
學位類別:碩士
校院名稱:國立臺北科技大學
系所名稱:經營管理系碩士班
學門:商業及管理學門
學類:企業管理學類
論文種類:學術論文
論文出版年:2012
畢業學年度:100
語文別:中文
論文頁數:69
中文關鍵詞:行為財務學人格特質過度自信
外文關鍵詞:Behavioral financePersonality traitsOverconfidence
相關次數:
  • 被引用被引用:2
  • 點閱點閱:513
  • 評分評分:
  • 下載下載:54
  • 收藏至我的研究室書目清單書目收藏:1
先前有關行為財務學之研究大多是觀察在不同的金融市場中,投資人行為的心理偏誤,較少的文獻在探討不同型態人格特質類型之分類的研究。所以本研究主要的目的在於檢驗不同人格特質類型和個人基本背景的投資人之間是否有不同過度自信傾向的程度,進而是否會影響投資人的交易行為產生差異性。
本研究將以行為財務學中「過度自信」的觀點,運用問卷調查的方式,調查在投資行為文獻中最被許多學者所探討的兩種人格特質類型:內外控特質和風險偏好特質,以及投資人過度自信傾向的程度,並且輔以國立臺北科技大學財務金融與公司治理研究室所舉辦的投資虛擬競賽之投資人交易明細,主要運用無母數分析、典型相關分析和一般化動差估計法檢驗投資人的個人基本背景、人格特質類型、過度自信傾向的程度和交易行為之間的相關性和因果關係。


Previous behavioral finance studies focused on the psychological biases of investors’ behaviors in different financial markets, and only few literatures explored the classifications of the different types of personality traits. The main purpose of this study is to examine whether investors have different overconfidence tendency among different types of personality traits and personal backgrounds, and whether those differences could affect the investors’ trading behaviors.
This study uses questionnaire survey which combines “overconfidence” with two types of personality traits: Locus of Control and Risk Taking. Moreover, we use the trading details which the school organized by “virtual investment competition” and employ several statistics models (i.e. descriptive analysis, reliability and validity analysis, nonparametric statistics, canonical correlation and GMM) to investigate the relationship between investors’ psychological status, personal background and trading behaviors.


摘 要 i
ABSTRACT ii
誌謝 iii
目錄 iv
表目錄 vi
圖目錄 viii
第一章 緒論 1
1.1研究背景與動機 1
1.2研究目的 3
1.3研究架構 4
第二章 文獻探討 6
2.1人格特質 6
2.2行為財務學 9
2.2.1 行為財務學理論之介紹 9
2.2.2過度自信 13
2.2.3 過度自信的相關實證研究 15
2.3文獻小結 21
第三章 研究方法 23
3.1 資料與樣本 23
3.1.1研究期間與樣本來源 23
3.1.2問卷資料來源 23
3.2 資料分析方法 29
3.3 研究方法小結 37
第四章 實證結果與分析 39
4.1 敘述性分析 39
4.2問卷信、效度分析 41
4.3 無母數統計分析 41
4.4 典型相關分析 50
4.5 GMM估計分析 56
4.6 實證分析小結 60
第五章 結論與建議 62
5.1研究結論 62
5.2 研究限制與建議 64
參考文獻 66



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英文部分
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