Research of the Mutual Fund Investors' Behavior in Taiwan

• Main Authors: Michelle Chen, 陳美雪
• Other Authors: 謝登隆
• Format: Others
• Language: zh-TW
• Published: 2008
• Online Access: http://ndltd.ncl.edu.tw/handle/06568912554939287174

碩士 === 東海大學 === 管理碩士在職專班 === 97 === The study, is based on actual percentages of mutual fund investments at various risk levels against their total investments, categorizes investor attributes on risking-taking into two groups; positive-attributed investors and guarding-attributed investors. Further studies were made, based on the two investor attributes; their basic investor characteristics (i.e. occupation, education, investment scale) and risk-taking preference, investment scale vs. economics growth, financial incidents vs. redeeming percentage, and investment performance vs. economic environment. The objective is to attain dynamic research on wealth management banks with various industry attributes and the investment behavior of investors. The study indicates key factors determining investor attributes; their education level and scale of their total assets. The investment characteristics of investors holding higher educational degrees and sizeable assets are inclined to be more aggressive. On the contrary, the investment behavior of investors with lower assets tends to be more conservative. The remuneration of previous investment do not have noticeable effect on their re-investment willingness. When financial storms strike, the redeeming rate of positive-attributed investors is higher than that of guarding-attributed investors. Noticeable relations between investment growth and economic growth are observed. In economic booms, the investment returns of positive-attributed investors are superior to those of guarding-attributed investors. During economic slowdowns, guarding-attributed investors are better off than positive-attributed investors, but both have negative returns.