Disposition, Confidence, and Profits and Losses: Evidence from the Taiwan Warrant Markets
學年 111
學期 2
出版（發表）日期 2023-03-01
作品名稱 Disposition, Confidence, and Profits and Losses: Evidence from the Taiwan Warrant Markets
作品名稱（其他語言）
著者 Matthew C. Chang; Jui-Cheng Hung; Rebecca Chung-Fern Wu.
單位
出版者
著錄名稱、卷期、頁數 International Journal of Information and Management Sciences、34(1)、23-50
摘要 In this paper, we first examine the extent that a warrant's characteristics, i.e., size of the underlying stock, effective leverage, time value, and implied volatility, affect behavioral measures, i.e., coefficients of disposition and coefficients of confidence, of two types of investors, i.e., individual investors and dealers, in the Taiwan warrant markets. Second, we explore the impacts of coefficients of disposition and coefficients of confidence on profits and losses (PL) by separate groups of investors. Finally, we find that cross-market spillover effects on levels of disposition coefficients and levels of confidence of individual investors from spot markets are especially important to contribute to PL of individual investors and dealers. Accordingly, our novel discoveries shed some light on better understanding of investors' behavioral biases.
關鍵字 Warrant Markets; Warrant Characteristics; Confidence; Disposition; Profits and Losses; Investor Types
語言 en
ISSN 1017-1819
期刊性質 國內
收錄於 EI NotTSSCI
產學合作
通訊作者
審稿制度 是
國別 TWN
公開徵稿
出版型式 ,電子版,紙本
相關連結

機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/126762 )