Author: Arvid Oskar Ivar HoffmannPublisher:
ISBN: 9789078249030
Category :
Languages : en
Pages : 162
Book Description
Essays on the Social Dimensions of Investor Behavior
Author: Arvid Oskar Ivar HoffmannPublisher:
ISBN: 9789078249030
Category :
Languages : en
Pages : 162
Book Description
Essays on Learning and Investor Behavior
Author: Juhani LinnainmaaPublisher:
ISBN:
Category : Day trading (Securities)
Languages : en
Pages : 350
Book Description
Investor Behavior: Essays on Social Interaction and Decision-Making
Author: Bastian Felix BreitmayerPublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Essays on Investor Behavior and Financial Innovation
Author: Tobias StuberPublisher: Herbert Utz Verlag
ISBN: 3831640114
Category :
Languages : en
Pages : 264
Book Description
Essays on Investor Behavior
Author: Keith Jacks GambleInvestor Behavior
Author: H. Kent BakerPublisher: John Wiley & Sons
ISBN: 1118492986
Category : Business & Economics
Languages : en
Pages : 645
Book Description
WINNER, Business: Personal Finance/Investing, 2015 USA Best Book Awards FINALIST, Business: Reference, 2015 USA Best Book Awards Investor Behavior provides readers with a comprehensive understanding and the latest research in the area of behavioral finance and investor decision making. Blending contributions from noted academics and experienced practitioners, this 30-chapter book will provide investment professionals with insights on how to understand and manage client behavior; a framework for interpreting financial market activity; and an in-depth understanding of this important new field of investment research. The book should also be of interest to academics, investors, and students. The book will cover the major principles of investor psychology, including heuristics, bounded rationality, regret theory, mental accounting, framing, prospect theory, and loss aversion. Specific sections of the book will delve into the role of personality traits, financial therapy, retirement planning, financial coaching, and emotions in investment decisions. Other topics covered include risk perception and tolerance, asset allocation decisions under inertia and inattention bias; evidenced based financial planning, motivation and satisfaction, behavioral investment management, and neurofinance. Contributions will delve into the behavioral underpinnings of various trading and investment topics including trader psychology, stock momentum, earnings surprises, and anomalies. The final chapters of the book examine new research on socially responsible investing, mutual funds, and real estate investing from a behavioral perspective. Empirical evidence and current literature about each type of investment issue are featured. Cited research studies are presented in a straightforward manner focusing on the comprehension of study findings, rather than on the details of mathematical frameworks.
Essays on Investor Behavior
Author: Terrance Thomas OdeanPublisher:
ISBN:
Category :
Languages : en
Pages : 288
Book Description
Essays on Social Values in Finance
Author: Jeremy Kenneth PagePublisher:
ISBN:
Category :
Languages : en
Pages : 430
Book Description
This dissertation consists of three essays on the role of social values in financial markets. Chapter 1 uses geographic variation in religious concentration to identify the effect of people's gambling behavior in financial market settings. We argue that religious background predicts people's gambling propensity, and that gambling propensity carries over into their behavior in financial markets. We test this conjecture in various financial market settings and find that the predominant local religion predicts variation in investors' propensity to hold stocks with lottery features, in the prevalence of broad-based employee stock option plans, in first-day returns to initial public offerings, and in the magnitude of the negative lottery-stock return premium. Collectively, our findings indicate that religious beliefs regarding the acceptability of gambling impact investors' portfolio choices, corporate decisions, and stock returns. In Chapter 2 I examine the impact of social norms against holding certain types of stocks (e.g. "sin stocks", or stocks with lottery features) on trading decisions and portfolio performance. I argue that trades which deviate from social norms are likely to reflect stronger information. Consistent with this hypothesis, I find that the most gambling-averse institutions earn high abnormal returns on their holdings of lottery stocks, outperforming the holdings of the most gambling-tolerant institutions. An analysis of institutions' sin stock holdings provides complementary evidence using another dimension of social norms, supporting the hypothesis that trades which deviate from norms reflect stronger information. In the third essay, we conjecture that people feel more optimistic about the economy and stock market when their own political party is in power. We find supporting evidence from Gallup survey data and analyze brokerage account data to confirm the impact of time-varying optimism on investors' portfolio choices. When the political climate is aligned with their political preferences, investors maintain higher systematic risk exposure while trading less frequently. When the opposite party is in power, investors exhibit stronger behavioral biases and make worse investment decisions. Investors improve their raw portfolio performance when their own party is in power, but the risk-adjusted improvement is economically small.
The Behavior of Institutional Investors
Author: Alexander PützPublisher:
ISBN: 9783832531898
Category : Index mutual funds
Languages : en
Pages : 0
Book Description
Institutional investors such as mutual funds and hedge funds play an important role in today's financial markets. This thesis consists of three essays which empirically study the behavior of active fund managers. In particular, the first essay investigates whether managers behave rationally or if some of them unconsciously make wrong investment decisions due to behavioral biases. The second essay examines whether some managers intentionally act to solely advance their own interests by strategically valuing the security positions in their portfolio. The third essay analyzes what the managers' education reveals about their investment behavior.
Author: Joachim Weber