| Summary: | 碩士 === 國立臺北科技大學 === 商業自動化與管理研究所 === 95 === The purpose of this research is to explore the correlation between fund operation performance and characteristics of investors. By analyzing the transaction performance in fund transactions of 34,331 natural persons in a sample period of 12 years starting April 1996 ending January 2007, this research tries to generalize a conclusion for the relationship between scattered individual investors and the rate of return of their fund operations. A model was built to further explore the correlation between two variables, namely, individual investors fund performance and characteristics of these scattered small investors.
The results are briefly listed as followed:
There is no significant difference between male and female while exploring the correlation between rate of return and gender. Nevertheless, most doctor and master degree people have positive rate of return. Bond fund lovers have higher rate of return. In contrast with bond fund, stock fund lovers often take negative return rate. We can conclude that the better policy for mutual fund investment is to buy and hold.
Further probing the model built, this study discovers that investors experience of transaction is a main factor affecting rate of return of his fund investment. Aside from the aforementioned findings, this study uses the model built by means of Back-Propagation Networks and CART model to verify the accuracy of this study in characterizing. The BPN model shows 72.41% accuracy, and CART model shows 71.17%. Theses results confirmed the outcome of this study is stable and correct.
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