頁籤選單縮合
| 題 名 | Who is the Winner? Trading Behavior and Performance for Major Types of Traders--Evidence from Taiwan's Futures Market |
|---|---|
| 作 者 | Cheng, Teng-yuan; Lin, Chao-hsien; Juang, Shaung-shii; | 書刊名 | Asia Pacific Management Review |
| 卷 期 | 12:1 2007.02[民96.02] |
| 頁 次 | 頁13-21 |
| 分類號 | 563.54 |
| 關鍵詞 | Feedback trading; Market timing ability; Foreign investor; Individual trader; Cumulative performance; |
| 語 文 | 英文(English) |
| 英文摘要 | By analyzing a unique data set provided by the Taiwan Futures Exchange (TAIFEX), we find that the individual traders and futures dealers are positive feedback traders while foreign investors tend to engage in negative feedback trading (value buyer). The foreign investors and security dealers are good market timers in the Taiwan futures market and earn significant profits. The individual traders, in contrast, lose a significant amount of money in the futures market. The cumulative profit analysis shows during this study period that foreign investors earn about 600 million NTD and the individual trader loses about one billion NTD. |
本系統中英文摘要資訊取自各篇刊載內容。