结果表明：尽管基金的周转率远低于股票交易周转率，基金投资者仍然存在明显的处置效应；
The results show that there is obvious disposition effect on institutional investors although the turnover ratio of mutual funds is lower than that of stocks.
结果表明我国投资者倾向于卖出当前盈利的股票而继续持有当前亏损的股票，即存在处置效应。
The result shows that Chinese investors are liable to sell winners and hold losers, in other words they have disposition effect.
本文研究表明，中国个体投资者存在显著的“处置效应”，并在十二月份存在“反处置效应”现象。
The study reached the conclusion that the individual investors in China stock market demonstrate remarkable disposition effect, and behave reverse-disposition effect in December.
处置效应是一种典型的投资者行为偏差，目前国外学者对其进行了广泛的研究，形成了很多观点和结论。
The disposition effect is a kind of investor's typical behavior bias. At present, a lot of scholars have studied on it extensively, and come to many standpoints and conclusions.
依据情绪影响投资者决策的心理学结论，本文进一步分析了在不同的市场态势下，个体投资者“处置效应”的特征。
We further analyze disposition effect characteristics of individual investors under bull or bear markets based on the psychological phenomena that emotion affects investment decisions.
近年来，国外财务学界的研究文献大量地关注证券市场的各种异常，如一月效应、处置效应、动量效应、羊群行为等等。
All kinds of abnormalities are concerned on stock market in the foreign financial documents these years, such as January effect, disposition effect, momentum effect, herd behavior.
本文利用中国个体投资者交易账户的交易数据对中国股票市场个体投资者“处置效应”进行了实证分析，并考察了中国股票市场是否存在“十二月效应”对“处置效应”的影响。
Using the data of China's individual investors, this article studies the disposition effect of China's stock market and researches whether the December effect will influence disposition effect.
纪律效应-也就是说，处置遵循的规则-因此可能产生。
Disciplinary effects - that is, disposition to follow the rules - may therefore be created.
纪律效应-也就是说，处置遵循的规则-因此可能产生。
Disciplinary effects - that is, disposition to follow the rules - may therefore be created.
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