Li, X. F., He, L. Z., & Shen, N. (2010). Comparison of “Disposition Effect” between China’s Open-End Securities Investment Fund and QFII: An Empirical Study from the Perspective of Statistics of “Buying and Selling Cycle Time”. Securities Market Herald, No. 9, 71-77.

has been cited by the following article:

• TITLE: A Summary of Theoretical and Empirical Test on the Disposition Effect of Securities Investment Fund in China

  AUTHORS: Yuchen Li

  KEYWORDS: Disposition Effect, Securities Investment Fund, Open-End Funds, VAR Model

  JOURNAL NAME: Modern Economy, Vol.11 No.4, April 21, 2020

  ABSTRACT: The disposition effect is an irrational behavior of investors, that is, investors tend to sell winners too early and hold losers too long. There are many researches on the disposition effect of stock market, but few researches about the fund market. Therefore, we sort out the relevant literature examining the existence of the disposition effect of securities investment fund in China. Then, we use data of 306 open-end funds in China from 2010 to 2018 to examine the existence of the disposition effect of securities investment fund in China by establishing VAR model. The empirical results show that: there is no disposition effect on securities investment fund in China.