English  |  正體中文  |  简体中文  |  Items with full text/Total items : 90120/105278 (86%)
Visitors : 8938161      Online Users : 381
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    ASIA unversity > 管理學院 > 財務金融學系 > 期刊論文 >  Item 310904400/17605


    Please use this identifier to cite or link to this item: http://asiair.asia.edu.tw/ir/handle/310904400/17605


    Title: The house-money and break-even effects on banks’ short-term investments: evidence from Taiwan’s banks
    Authors: 劉永欽;Liu, Yong-Chin
    Contributors: 財務金融學系
    Keywords: House Money Effect ; Break-Even Effect ; Behavioral Finance ; Loss Aversion ; Value at Risk
    Date: 2010-10
    Issue Date: 2012-11-26 10:37:41 (UTC+8)
    Abstract: To test the house-money and break-even effects of Thaler and Johnson (1990), this paper samples Taiwanese banks to examine whether prior short-run investment performance affects subsequent investment behaviors. The finding is that the afore-mentioned effects are empirically supported: past investment gains manifestly correlate with subsequent risk-taking; prior losses elicit increased subsequent risk, because banks are likely over-optimistic and overconfident of the break-even opportunity, even if their losses are large. Moreover, investment risks rise as prior gains increase; larger the preceding losses beget higher subsequent risks, yet the sensitivity of risks to small prior losses is greater than when prior losses are large. The aforementioned biased behavior is more pronounced for privately-owned banks. Consequently, banks still possibly demonstrate behavioral biases, even though they possess investment proficiency.
    Relation: 管理與系統 / Journal of Management & Systems
    Appears in Collections:[財務金融學系] 期刊論文

    Files in This Item:

    File Description SizeFormat
    index.html0KbHTML207View/Open


    All items in ASIAIR are protected by copyright, with all rights reserved.


    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - Feedback