The disposition effect was studied using the market information published publically and the time characters of the disposition effect were tested. The results show that the disposition effect exists in Chinese investors, in which there are the differences in the time; the reference price of IPO is 1.5 times of the offering price; the economical environments can affect the disposition effect; and the investors express their stronger disposition effect when the environment is favorable.
池丽旭, 庄新田, 王健. 基于IPO交易量对我国投资者处置效应的研究[J]. J4, 2008, 5(1): 118-.
CHI Li-Xu, ZHUANG Xin-Tian, WANG Jian. Study of Investor's Disposition Effect in China Using IPO Trading Volume. J4, 2008, 5(1): 118-.