The study looked at how investors in the Korean futures market tend to hold onto losing investments and sell winning ones, known as the disposition effect. By analyzing two years of trading data, the researchers found that individual investors are more prone to this bias than institutions or foreign investors. They also discovered that experienced traders are less affected by the disposition effect, and it tends to be stronger for long positions than short ones. Additionally, they found that the disposition effect can negatively impact investment performance, but frequent trading and foreign investment can be beneficial in this market.