\u65e9\u7a32\u7530\u5927\u5b66 \u65e9\u7a32\u7530\u30ad\u30e3\u30f3\u30d1\u30b9 11\u53f7\u9928 11\u968e 1111\u6559\u5ba4<\/a><\/p>\n\u4e3b\u3000\u65e8 \/ Outline<\/h5>\n
“Transparency and Investment Decisions: Evidence from the Disposition Effect”<\/p>\n
The tendency of investors to forgo loss realization in favor of gain realization, known as the disposition effect, is considerably reduced in a transparent trading environment.
\nUsing proprietary data from a social trading platform, we follow a differences-in differences approach analyzing trading behavior within and between portfolios as they become publicly visible.
\nWe find strong presence of the disposition effect in our sample consistent with prior literature but also show that the effect diminishes about 35% when trades and holdings are unhidden.
\nOur findings are robust to survivorship bias, learning and demographic effects, level of assets under management and alternative explanations.
\nIn addition, we highlight the impact of \u2018transparency culture\u2019 on trading behavior through differences between the former West and East Germany with traders from the latter being less influenced by changes in transparency.<\/p>\n
\u30d7\u30ed\u30b0\u30e9\u30e0 \/ Schedule<\/h5>\n
13:00\uff5e13:05 \u958b\u4f1a\u306e\u6328\u62f6\uff08\u5bae\u5cf6 \u82f1\u662d \u65e9\u7a32\u7530\u5927\u5b66\u9ad8\u7b49\u7814\u7a76\u6240 \u9867\u554f \uff0f \u5546\u5b66\u5b66\u8853\u9662 \u6559\u6388\uff09
\n13:05\uff5e14:05 \u8b1b\u6f14
\n14:05\uff5e14:25 \u8cea\u7591\u5fdc\u7b54
\n14:25\uff5e14:30 \u9589\u4f1a\u306e\u6328\u62f6\uff08\u5bae\u5cf6 \u82f1\u662d\uff09<\/p>\n
\u5bfe\u3000\u8c61 \/ Prospected Audience<\/h5>\n
\u5b66\u90e8\u751f\u30fb\u5927\u5b66\u9662\u751f\u30fb\u6559\u8077\u54e1<\/p>\n
\u4e3b\u3000\u50ac \/ Organizer<\/h5>\n
\u65e9\u7a32\u7530\u5927\u5b66 \u7523\u696d\u7d4c\u55b6\u7814\u7a76\u6240
\n\u65e9\u7a32\u7530\u5927\u5b66 \u9ad8\u7b49\u7814\u7a76\u6240<\/p>\n
\u7533\u8fbc\u307f \/ Registration<\/h5>\n
\u4e8b\u524d\u7533\u8fbc\u307f\u4e0d\u8981\u3067\u3059\u3002\u76f4\u63a5\u4f1a\u5834\u306b\u304a\u8d8a\u3057\u304f\u3060\u3055\u3044\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"
Waseda Organizational and Financial Economics Seminar: “Transparency and Investment Decisions: Evidence […]<\/p>\n","protected":false},"author":6,"featured_media":2762,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[24,26,28],"class_list":["post-5744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-events","tag-general","tag-research"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/posts\/5744","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/comments?post=5744"}],"version-history":[{"count":0,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/posts\/5744\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/media\/2762"}],"wp:attachment":[{"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/media?parent=5744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/categories?post=5744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/tags?post=5744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}