Who is the more overconfident trader? Individual vs. institutional investors

@article{Chuang2011WhoIT,
  title={Who is the more overconfident trader? Individual vs. institutional investors},
  author={Wen-I Chuang and Raul Susmel},
  journal={Fuel and Energy Abstracts},
  year={2011}
}
Guided by the Gervais and Odean (2001) overconfident trading hypothesis, we comprehensively investigate the trading behavior of individual vs. institutional investors in Taiwan in an attempt to identify who is the more overconfident trader. Conditional on the various states of the market, on market volatility, and on the risk level of the securities they trade, we find that both individual and institutional investors trade more aggressively following market gains in bull markets, in up-market… Expand

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