What Makes Investors Trade?
A unique data set allows us to monitor the buys, sells, and holds of individuals and institutions in the Finnish stock market on a daily basis. With this data set, we employ Logit regressions to identify the determinants of buying and selling activity over a two-year period. We find evidence that in...
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| Veröffentlicht in: | The Journal of finance (New York) 2001-04, Vol.56 (2), p.589-616 |
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| Hauptverfasser: | , |
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| container_end_page | 616 |
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| container_issue | 2 |
| container_start_page | 589 |
| container_title | The Journal of finance (New York) |
| container_volume | 56 |
| creator | Grinblatt, Mark Keloharju, Matti |
| description | A unique data set allows us to monitor the buys, sells, and holds of individuals and institutions in the Finnish stock market on a daily basis. With this data set, we employ Logit regressions to identify the determinants of buying and selling activity over a two-year period. We find evidence that investors are reluctant to realize losses, that they engage in tax-loss selling activity, and that past returns and historical price patterns, such as being at a monthly high or low, affect trading. There also is modest evidence that life-cycle trading plays a role in the pattern of buys and sells. |
| doi_str_mv | 10.1111/0022-1082.00338 |
| format | Article |
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| fulltext | fulltext |
| identifier | ISSN: 0022-1082 |
| ispartof | The Journal of finance (New York), 2001-04, Vol.56 (2), p.589-616 |
| issn | 0022-1082 1540-6261 |
| language | eng |
| recordid | cdi_proquest_journals_194716799 |
| source | Wiley-Blackwell Journals; JSTOR |
| subjects | Capital gains Capital losses Financial portfolios Investment policy Investors Market prices Regression analysis Regression coefficients Securities trading Stock prices Stock purchases Stock sales Studies Trade |
| title | What Makes Investors Trade? |
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