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研究生:黃淢蒲
研究生(外文):HUANG, YU-PU
論文名稱:股票投資人在不同賺賠狀態下的股票賣出傾向: 股票單價與投資人性別的差異
論文名稱(外文):Investors’ tendency to sell stocks under varying levels of gain and loss:Differences with respect to share price and investor gender
指導教授:羅新興羅新興引用關係
指導教授(外文):LO, HSIN-HSIN
口試委員:梁欣光徐彬偉羅新興
口試委員(外文):LIANG, SHIN-GUANGHSU,BIN-WEILO, HSIN-HSIN
口試日期:2023-06-09
學位類別:碩士
校院名稱:健行科技大學
系所名稱:企業管理系碩士班
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:2023
畢業學年度:111
語文別:中文
論文頁數:44
中文關鍵詞:股票漲跌狀態股票賺賠狀態股票單價股票賣出傾向性別
外文關鍵詞:stock price rise and declinestock gain and lossshare pricetendency to sell stocksgender
相關次數:
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  • 下載下載:16
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本研究目的在探討投資人在多賺、少賠、少賺、多賠不同情況下的股票賣出傾向,同時,分析高低單價股票在上述不同情況的股票賣出傾向以及男女投資人在上述不同情況下的股票賣出傾向。本研究請受試者閱讀不同賺賠狀態的股票模擬情境後填寫股票賣出傾向問卷,分析248份有效問卷獲得以下的發現:首先,投資人在股票上漲的情況下,多賺狀態的股票賣出傾向高於少賠狀態;投資人在股票下跌的情況下,少賺狀態與多賠狀態的股票賣出傾向沒有差異。其次,低單價股票的四種不同賺賠狀態之股票賣出傾向無顯著差異;高單價股票且上漲的情況下,多賺狀態的股票賣出傾向高於少賠狀態,高單價股票且下跌的情況下,少賺狀態與多賠狀態的股票賣出傾向沒有差異。最後,女性投資人的四種不同賺賠狀態之股票賣出傾向無顯著差異;男性投資人在上漲的情況下,多賺狀態的股票賣出傾向高於少賠狀態,男性投資人在下跌的情況下,少賺狀態與多賠狀態的股票賣出傾向沒有差異。本研究討論研究發現在理論發展與實務應用上的意涵。
This study explores investors’ tendency to sell stocks under four loss and gain conditions, namely large gain, small gain, large loss, and small loss, in addition to examining the effect of share price and investor gender on this tendency. Participants are invited to partake in simulation scenarios with varying gain or loss conditions and then complete a questionnaire regarding their tendency to sell stocks. Analysis of 248 valid questionnaires yields the following results. First, when stocks are on the rise, investors are more inclined to sell stocks with large gain than those with small loss. When stocks are on the decline, the tendencies to sell stocks with small gain and large loss do not differ. Second, the tendencies to sell stocks with low share prices do not significantly differ under the four loss and gain conditions. When stocks with high share prices are on the rise, investors are more inclined to sell stocks with large gain than those with small loss. When stocks with high share prices are on the decline, in the tendencies to sell stocks with small gain and large loss do not differ. Third, women do not exhibit significant differences in their tendency to sell stocks under the four loss and gain conditions. When stocks are on the rise, men are more inclined to sell stocks with large gain than those with small loss. When stocks are on the decline, men are in the tendencies to sell stocks with small gain and large loss do not differ. Finally, this study provides theorical and practical implications on the basis of the aforesaid results.
第一章 緒論 1
1.1 研究動機 1
1.2 研究目的 2
第二章 文獻探討與研究假說 4
2.1 財務行為學 4
2.2 框架理論 7
2.3 多賺、少賠、多賠、少賺狀態的股票賣出傾向 8
2.4 股票單價對賺賠狀態與股票賣出傾向關係的調節效果 9
2.5 投資人性別對賺賠狀態與股票賣出傾向關係的調節效果 10
2.6 研究架構圖 11
第三章 研究方法 13
3.1 類實驗設計 13
3.2 變項操弄與衡量 13
3.2.1 變項操弄 13
3.2.2 變項衡量 14
3.3 研究對象、抽樣方法及有效樣本 15
第四章 資料分析結果 18
4.1 相關分析 18
4.2 差異性檢定 20
4.2.1 股票投資人對股票賣出傾向的差異性檢定 20
4.2.2 股票投資人對預防焦點傾向的差異性檢定 21
4.3 假說檢定 22
4.3.1 四種賺賠狀態的股票賣出傾向 23
4.3.2 股票單價高低情況下的四種賺賠狀態之股票賣出傾向 24
4.3.3 不同性別投資人的四種賺賠狀態之股票賣出傾向 25
第五章 討論與建議 27
5.1 綜合討論 27
5.2 實務意涵 29
5.3 研究限制與未來研究建議 30
參考文獻 31
附 錄 36
簡 歷 44

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