透過您的圖書館登入
IP:3.230.76.153
  • 期刊

A Web-based Virtual Stock Trading System as a Tool for Tutoring Financial Management

虛擬股市交易操作系統做為財務管理學習輔助工具之成效探討

摘要


It is widely believed that people with deficient financial literacy are more prone to have financial problems with debts. In addition, they are also less likely to invest in the stock market, make retirement planning, and effectively accumulate and manage wealth. Education of Financial management is useful to enable people more informed in making wise financial decisions. In this study, a web-based virtual stock trading (WBVST) system which provides useful tools and simulates real stock trading operation was used as a training tool for education of financial management. Five functions, including financial ratio analysis, candidate stocks selection, investment performance inspection, financial report of stock, and message input for instructor support, are designed in the WBVST system. Although it was observed that the investors become less affected by news regarding market fluctuations as well as improper stock trading behaviors, such as risk aversion and disposition effect, through learning with the WBVST system. It was argued that, unlike the real trading system, virtual system cannot reflect the mental status of investors in aggressively profiting from the stock market. In order to eliminate the effect of virtual trading, students taking the course of financial management were divided into two groups: control and study groups. Students in both groups were asked to do a term project by practicing stock trading with WBVST system. In addition to score reward, the students with great performance in the study group were rewarded with cash. The learning outcome and operating performance were evaluated based on the learning achievement and surveyed based an extended TAM (technology acceptance model) questionnaire instrument. The results show that students in the study group demonstrate better trading performance and learning achievement. Both groups indicate usefulness of the WBVST system and strong intention to further adopt the system for learning and practicing.

並列摘要


財務知識不足的人們通常被認為較容易出現財務的問題,且較少進行股市投資及退休規劃等,同時對有效地累積和管理財富之能力也較為薄弱,然而透過財務管理知識的教育與訓練期望可有效提升人們正確的財務決策能力。本研究,以一個股市擬真交易系統做為財務管理課程的學習輔助工具,讓學生透過網路進行股市擬真買賣。此擬真交易系統內含下列五個功能區,財務比率分析區,選股買賣區,操作績效查看區,個股財務報表查詢區及留言板。雖然透過系統操作與學習,可看出學生已較不受市場消息面的影響,且財務行為學上的諸多偏誤如風險規避,處置效應等亦有降低的趨勢。但畢竟只是擬真交易,不是以真實的資金投入股票買賣,對於投資者積極獲利的買賣心態稍嫌薄弱。為改善此一不足,我們將學生分成實驗組與對照組,以獎金激勵實驗組交易績效前三名的學生,兩組學生均在同一時段操作股票擬真買賣,並以課堂成績及買賣績效當成學習成果之評估項目。對兩組學生以科技接受模型的問卷進行填答,結果顯示兩組學生均認為擬真股票即時交易系統是一個有用且有意願進一步使用於財務管理教學之工具。

參考文獻


Barber, B. M.,Odean, T.,Zhu, N.(2009).Systematic noise.Journal of Financial Markets.12,547-569.
Bhattacharyya, R.,Kar, S.,Majumder, D. D.(2011).Fuzzy mean-variance-skewness portfolio selection models by interval analysis.Computers and Mathematics with Applications.61,126-137.
Briza, A. C.,Naval, J. P. C.(2011).Stock trading system based on the multi-objective particle swarm optimization of technical indicators on end-of-day market data.Applied Soft Computing.11,1191-1201.
Buckley, P.,Garvey, J.,McGrath, F.(2011).A case study on using prediction markets as a rich environment for active learning.Computers and Educations.56,418-428.
Chang, P. C.,Liu, C. H.(2008).A TSK type fuzzy rule based system for stock price prediction.Expert Systems with Applications.34,135-144.

延伸閱讀