2008-08-012024-05-18https://scholars.lib.ntu.edu.tw/handle/123456789/697144摘要：本計畫擬應用學習理論探討投資人過去投資經驗對後續投資行為之影響。我們將檢視獎勵(投資利得)與懲罰(投資損失)所可能造成德投資行為改變。級端事件(極端利得與極端損失)可能在投資人腦海中烙印深刻的印象，對日後投資行為造成立即而重大的改變。我們將利用一個基金投資人的資料庫與一個股票投資人資料庫研究投資人在極端利得／損失後之投資金額、週轉率、實現利得／損失後行為上之改變。此外，我們也會檢視網路基金投資人在收到預設的停利／停損通知時是否執行停利／停損以及其後續報酬對重設停利／停損點及下次是否執行停利／停損決策之影響。<br> Abstract: This project intends to explore how investors’ past investment experiences affect their investment behavior afterwards, i.e. how does learning change behavior, specifically, we want to explore the role of rewards (gains) and punishment (losses) on subsequent behavior. A mutual fund investor database as well as a stock investor database will be used. We are especially interested in extreme gains and losses, since their effects are likely to be more pronounced and immediate. Investment amounts, return realization as well as asset turnovers after extreme events will be examined in detail. Moreover, the execution decisions after investors receive stop loss or realize gain notices, will be studied using a sub-sample of internet mutual fund investors.關鍵字學習投資行為極端事件停損LearningInvestment BehaviorExtreme EventsStop Loss