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Investment characteristics, stock characteristics and portfolio diversification of finance professionals

机译:金融专业人士的投资特征,股票特征和投资组合多元化

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This study estimates if Malaysian finance professionals' investment characteristics and stock characteristics' preferences affect their portfolio diversification, and whether the effects of these predictors vary across professionals' gender, income and experience. Employing a survey and ordinal regression models, the findings demonstrate that investment characteristics such as active trading, usage of internet and telephone, and saving for retirement objective are likely to improve diversification, whereas diversification worsens with the spending less time on researching investment. With respect to stock's characteristics, trading volume and return on asset are related to better diversification, whereas profit margin and return on equity are related to least diversification. The predictors are found to vary across professionals' gender, income and experience. The results suggest that finance professionals need to consider spending more time on researching investment and stock's characteristics in portfolio composition.
机译:这项研究估计了马来西亚金融专业人士的投资特征和股票特征的偏好是否会影响他们的投资组合多元化,以及这些预测因素的影响是否随专业人士的性别,收入和经验而变化。利用调查和序数回归模型,研究结果表明,活跃交易,使用互联网和电话以及为退休目标进行储蓄等投资特征可能会改善多元化,而多元化却会随着研究投资的时间减少而恶化。就股票的特征而言,交易量和资产收益率与更好的多元化相关,而利润率和净资产收益率与最小多元化相关。发现预测变量随专业人员的性别,收入和经验的不同而不同。结果表明,金融专业人士需要考虑花更多的时间来研究投资和股票组合组成的特征。

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