投资特征对个人投资者财务绩效影响的探索性研究

Poompak Kusawat, Nopadol Rompho
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引用次数: 0

摘要

这一探索性研究考察了哪些投资特征决定了股票市场的成功。基于403名受访者的数据,探索性因子分析得出13个因素:中长期,定性分析,开放/自律,有组织,情绪稳定,naïve,成长型股票,集中投资组合,逆向投资,价值股,全球化,内在价值,价格独立。对个人投资者的超额收益进行多元线性回归分析,发现这些因素之间的关系具有统计学意义。这些结果加深了我们对在股票市场中生存需要什么样的投资特征的认识。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Impact of Investing Characteristics on Financial Performance of Individual Investors: An Exploratory Study
This exploratory study examines which investing characteristics determine success in an equity market. Based on data from 403 respondents, exploratory factor analysis results in 13 factors: middle/long time horizon, qualitative analyst, open-minded/disciplined, organized, emotional stability, naïve, growth stock, concentrated portfolio, contrarian, value stock, globalized, intrinsic value, and price-independent. Multiple linear regression of individual investors' excess return on these factors show statistically significant relationship. These results deepen our knowledge on what sort of investing characteristics are required to survive in equity markets.
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