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| Research on the Trading Behavior of Institutional Investors: Evidence from Taiwan Stock Market |
| CHEN Zhi juan1,MA Chang feng2,2,LIN Cang xiang2,2 |
| 1. Zhejiang Gongshang University2. |
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Abstract This paper mainly investigates the trading behavior of institutional investors by studying Taiwan stock market. First, we construct an indicator to measure institutional investors’ trading imbalance ─ investors’ net trading. This index reflects the intensity of investors’ trading imbalance. Then, we use the trading imbalance index to construct portfolios to study the trading behavior of institutional investors. The paper finds: first, foreigners and mutual funds in Taiwan stock market on behalf of financial institutional investors adopt positive feedback trading strategies, and the inform
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Received: 13 October 2011
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Corresponding Authors:
CHEN Zhi juan
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2012, Vol. 1 
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