文化与处置效应
Culture and the disposition effect
摘要：
通过考察投资者处置效应程度的国际差异，研究了民族文化与处置效应的关系。我们利用来自83个国家的387，993名交易员的经纪数据，发现世界各地的处置效应程度存在很大差异。我们发现，长期取向和放纵的文化维度有助于解释为什么某些民族更容易受到处置效果。我们还发现，在国际层面上的年龄和性别的作用，解释处置效果的支持。
英文摘要：
We study the relationship between national culture and the disposition effect by investigating international differences in the degree of investors' disposition effect. We utilize brokerage data of 387,993 traders from 83 countries and find great variation in the degree of the disposition effect across the world. We find that the cultural dimensions of long-term orientation and indulgence help to explain why certain nationalities are more prone to the disposition effect. We also find support on an international level for the role of age and gender in explaining the disposition effect.
机构、总结、中文摘要均由AI分析而来，可能存在错误，请以论文正文为准。
