Abstract
This paper investigates the disposition bias for different categories of investors based on type (legal persons, female and male), size (large, medium and small) and trading frequency (frequently, occasionally and infrequently trading). Analyzing an exhaustive dataset consisting of 283,913 investors from Borsa Istanbul, we find that all types of investors exhibit disposition bias while legal persons, large investors and frequently trading investors do less. Trading frequency, rather than size, is the most relevant investor feature associated with disposition bias. A detailed analysis with combined features is needed for understanding the role of various factors in this investor behavior.
| Original language | English |
|---|---|
| Article number | 100682 |
| Journal | Journal of Behavioral and Experimental Finance |
| Volume | 35 |
| DOIs | |
| Publication status | Published - Sept 2022 |
Bibliographical note
Publisher Copyright:© 2022 Elsevier B.V.
Keywords
- Behavioral finance
- Borsa Istanbul
- Disposition bias
- Investor types
- Loss aversion