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Vol. 14 No. 2 (2012)
Home / Archives / All Issues / Volume 14, Number 2, August 2012
Volume 14, Number 2, August 2012
Journal of Economics and Development, Vol. 14, No. 2, August 2012, pp. 52-71.
https://doi.org/10.33301/2012.14.02.03

Empirical Research of Disposition Effects in Vietnam’s Stock Market

Authors: Nguyen Duc Hien; Ngo Duy; Le Vu; Nguyen Ngoc Tram

Abstract:

This paper examines some cognitive biases of Vietnamese stock investors by ana- lyzing trading records for 1,201 accounts at a brokerage firm. These investors tend to make poor trading decisions by selling good stocks and buying bad stocks. They demonstrate a significant reference to holding the losing stocks and selling the win- ing stocks which is known as the disposition effect. It provokes many implications for researchers, market practitioners and policy makers.
Keywords:Disposition effect, extrapolation bias, prospect theory, behavioral finance.
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JOURNAL OF ECONOMICS AND DEVELOPMENT - NATIONAL ECONOMICS UNIVERSITY
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