文章詳目資料

Contemporary Management Research

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篇名 A Behavioral Perspective for Cognitive Biases Between Financial Experts and Investors: Empirical Evidences of Taiwan Market
卷期 2:2
作者 Hung-Ta LeeChuang-Yuang Lin
頁次 117-139
關鍵字 Behavioral FinanceBenchmark EnterprisesCognitive BiasesEfficient MarketQuality of Management
出刊日期 200609

中文摘要

英文摘要

This empirical study tests the hypothesis of whether the good stocks are the so-called good corporations or not. Based upon the concepts of behavioral finance, the capital markets are highly complex and uncertain. Suppose the investors focus on the fixed rules and intuitions to make decisions, cognitive biases exist. Since financial experts have lower cognitive biases than investors because of their financial and professional capabilities, the good stocks they selected should perform better in capital markets. Actually, they do not, which indicating the criteria to select good corporations and good stocks are different.

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