Lin Zhang
Research student
Lin Zhang is affiliated with The Open University's Centre for Accounting and Finance.
You can email Lin Zhang directly; but for media enquiries please contact a member of The Open University's Media Relations team.
Current research
Disposition effect, investor sophistication, and market conditions in the stock markets of mainland China
The stock market in mainland China is developing very quickly, though they were not established until the early 1990s. The Global Chinese Press reported in 2007 that about 200,000 new accounts are opened in the stock market of Chinese mainland every day on average. Most of the investment accounts (around 99%) in the Chinese stock markets belong to individual investors. In the emerging stock markets, most of the Chinese individual investors are viewed as less experienced and irrational. They exhibit a kind of behavioral bias, which shows a preference in selling a stock when it increases in price while holding a stock when it decreases in price (the disposition effect). My research is going to focus on the disposition effect of individual investors in the stock markets of mainland China, and to examine the relationship between this behavioral bias and individual investors’ sophistication factors (such as age, location, etc.) under different market conditions (bull or bear market).
Supervisors
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