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Diszpozíciós hatás a magyar tőkepiacon
[Disposition effect in the Hungarian capital market]

Author

Listed:
  • Ormos, Mihály
  • Joó, István

Abstract

Tanulmányunkban a viselkedési pénzügyekből ismert diszpozíciós hatást vizsgáljuk, amely szerint a befektetők túl sokáig tartják veszteséges és korán realizálják nyereséges pozícióikat. A magyar felsőoktatási hallgatók körében 2009-ben és 2010-ben valós pénzzel lezajlott tőzsdejáték egyéni tranzakcióit - a nem realizált és realizált nyereségeket és veszteségeket, a tartási időt, a nyitott pozíciók teljes életútját, valamint a tranzakciók utáni teljesítményeket - elemezve, azt kaptuk, hogy a vizsgálatban részt vevő befektetők hajlamosak a diszpozícióra, amely összességében rontja a befektetési teljesítményüket. Méréseink szerint a befektetők rosszul időzítik a vételi és eladási megbízásaikat. Mintánk ugyan nem teljesen reprezentálja a hazai általános befektetői kört, viszont a felsőoktatásban részt vevő és a tőkepiac iránt érdeklődő populációt igen. Journal of Economic Literature (JEL) kód: G11, G14.

Suggested Citation

  • Ormos, Mihály & Joó, István, 2011. "Diszpozíciós hatás a magyar tőkepiacon [Disposition effect in the Hungarian capital market]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 743-758.
    • Handle: RePEc:ksa:szemle:1265
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    References listed on IDEAS

    as
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    More about this item

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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