本研究探討在股票市場行為特徵中，投資者決策過程中的投資情緒和認知因素，根據處置效果與預期理論建立蒙古國個人投資者的股票投資行為模型。本研究以蒙古國股票投資人為研究對象，共計發出300份問卷，再以SPSS統計軟體進行分析，根據本研究實證分析結果提出以下結論：蒙古國不同年齡投資者的平均投資經驗以及處置效應存在顯著差異。迴歸分析的結果，性別、年齡、教育、收入和股票投資經驗，對避免後悔、心理帳戶、追求驕傲和厭惡損失具有顯著正向影響。 This study attempts to determine a behavior model of individual Mongolian investors consistent with the disposition effect and therefore the prospect theory. The research is conducted on the behavioral characters of the financial sector and explores whether the emotional and cognitive factors in the decision-making process of investors. This study attempts to determine a behavior model of individual Mongolian investors consistent with the disposition effect and the prospect theory. To do so, it conducts an analysis of ANOVA from questionnaire survey to investigate the latent psychological effect factors behind the disposition effect. In the result that there are significant differences among the averages of trade experience, avoiding regret, as well as avoiding regret based upon education in Mongolia. Moreover, the results also show that there are significant differences among the averages of trade experience as well as disposition effect in different age and income of investors in Mongolia. The results of regression analysis which is Gender, Age, Education, Income and Trade experience factors has strong positive impact of the Avoiding regret, Mental accounting, Seeking pride and Loss aversion.
