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| Tekijä: | Tyynelä, M. Perttunen, J. |
| Otsikko: | Trading behaviour of Finnish households: Activity, performance and overconfidence |
| Lehti: | Liiketaloudellinen aikakauskirja
2003 : 2, p. 157-178 |
| Asiasana: | Household portfolios Portfolio investment Trading |
| Kieli: | eng |
| Tiivistelmä: | One of the questions in recent stock market research has been the analysis of trading activity, and its profitability effects. It is hypothesized that investors trade excessively in the sense that their trading strategies underperform the passive "buy-and-hold" strategy. This study analysed the trading activity and portfolio performance of Finnish households from July 1996 till the end of June 2000 with accurate data. It is found that those who trade more perform worse than their less active associates. Men appear to be more active traders in terms of their portfolio turnover as well as their trading frequency. Also, the profitability of their trading is weaker than that of women. Finally, trading skills seem to get better with age. |
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