Publications
Detailed Information
Selling Winners and Losers: Discovery of New Disposition Effect in Korea : 한국 주식시장에서의 비대칭매도성향효과 분석
Cited 0 time in
Web of Science
Cited 0 time in Scopus
- Authors
- Advisor
- 김정욱
- Major
- 경영대학 경영학과
- Issue Date
- 2017-02
- Publisher
- 서울대학교 대학원
- Description
- 학위논문 (석사)-- 서울대학교 대학원 : 경영학과, 2017. 2. 김정욱.
- Abstract
- A new disposition effect refers to a tendency of investors to sell both winner and loser stocks, rather than to sell winner and hold loser stocks. This study investigates the asset pricing implications of the new disposition effect in the Korean stock markets. I find that stocks with either large unrealized gains or losses earn higher future returns than otherwise similar stocks do. This finding supports the hypothesis that stocks with larger unrealized gains and losses experience higher selling pressure that pushes down their price temporarily and their reversals to fundamentals lead to higher subsequent returns.
- Language
- English
- Files in This Item:
Item View & Download Count
Items in S-Space are protected by copyright, with all rights reserved, unless otherwise indicated.