search query: @author Grinblatt, M. / total: 15
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| Author: | Grinblatt, M. Keloharju, M. |
| Title: | What makes investors trade? |
| Journal: | Journal of Finance
2001 : APR, VOL. 56:2, p. 589-616 |
| Index terms: | Investors Stock markets Finland |
| Language: | eng |
| Abstract: | A unique data set allows the authors to monitor the buys, sells and holds of individuals and institutions in the Finnish stock market on a daily basis. With this data set, they employ Logit regressions to identify the determinants of buying and selling activity over a two-year period. The authors find evidence that investors are reluctant to realize losses, that they engage in tax-loss selling activity and that past returns and historical price patterns, such as being at a monthly high or low, affect trading. There also is modest evidence that life-cycle trading plays a role in the pattern of buys and sells. |
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