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Journal of Behavioral Finance最新文献

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A Longer-Term Evaluation of Information Releases by Influential Market Agents and the Semi-Strong Market Efficiency 影响力市场主体信息发布的长期评价与半强市场效率
IF 1.9 3区 经济学
Journal of Behavioral Finance Pub Date : 2023-07-31 DOI: 10.1080/15427560.2023.2227303
Pankaj Agrrawal, Rajat Agarwal
{"title":"A Longer-Term Evaluation of Information Releases by Influential Market Agents and the Semi-Strong Market Efficiency","authors":"Pankaj Agrrawal, Rajat Agarwal","doi":"10.1080/15427560.2023.2227303","DOIUrl":"https://doi.org/10.1080/15427560.2023.2227303","url":null,"abstract":"","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"343 ","pages":""},"PeriodicalIF":1.9,"publicationDate":"2023-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72427870","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Degree of Personal Responsibility in Decisions and the Likelihood to Abandon an Investment among Professionals: Evidence from a Lab-in-the-Field Experiment 决策中的个人责任程度和专业人员放弃投资的可能性:来自实验室现场实验的证据
IF 1.9 3区 经济学
Journal of Behavioral Finance Pub Date : 2023-06-27 DOI: 10.1080/15427560.2023.2228549
Kevin Trutmann, Steve Heinke, Céline Rudin
{"title":"Degree of Personal Responsibility in Decisions and the Likelihood to Abandon an Investment among Professionals: Evidence from a Lab-in-the-Field Experiment","authors":"Kevin Trutmann, Steve Heinke, Céline Rudin","doi":"10.1080/15427560.2023.2228549","DOIUrl":"https://doi.org/10.1080/15427560.2023.2228549","url":null,"abstract":"","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"12 1","pages":""},"PeriodicalIF":1.9,"publicationDate":"2023-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80828789","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Unlearning investment biases 摒弃投资偏见
3区 经济学
Journal of Behavioral Finance Pub Date : 2023-06-21 DOI: 10.1080/15427560.2023.2225241
Moritz Mosenhauer
{"title":"Unlearning investment biases","authors":"Moritz Mosenhauer","doi":"10.1080/15427560.2023.2225241","DOIUrl":"https://doi.org/10.1080/15427560.2023.2225241","url":null,"abstract":"This study considers two causes—inexperience and overreaction to price movements—of a well-established phenomenon on the stock market called “excessive trading”: large trading volumes leading to decreased net portfolio returns via increased transaction costs. Creating a stylized hold or trade-scenario in a computer laboratory experiment, I confirm both inexperience and overreaction as robust drivers of trading activity. The 2 × 2 experimental design featuring overlapping treatments enables me to disentangle the two direct effects from their interaction. The results show no signs of dependencies between the two channels, suggesting that psychological distortions are immutable personal characteristics that cannot be unlearned.","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136354511","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Trading Simulations and Real Money Outcomes* 交易模拟和真实货币结果*
3区 经济学
Journal of Behavioral Finance Pub Date : 2023-06-15 DOI: 10.1080/15427560.2023.2203496
Deniz Anginer, Caio Piza, Sugata Ray, Luqi Xu
{"title":"Trading Simulations and Real Money Outcomes*","authors":"Deniz Anginer, Caio Piza, Sugata Ray, Luqi Xu","doi":"10.1080/15427560.2023.2203496","DOIUrl":"https://doi.org/10.1080/15427560.2023.2203496","url":null,"abstract":"We examine the link between simulation experience and the performance in real money accounts. We find that more active simulator users, simulator users who take on more risk, and simulator users with the best stock-level performance (but not portfolio-level performance) are more likely to open real money accounts. These users are also likely to be more active real money traders and significantly underperform in their real money trades. These results suggest that without proper education regarding the hazards of active trading and accurate performance evaluation, stock simulator users may draw incorrect inferences regarding their trading skill and experience real-money underperformance.","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135712730","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Investor Sentiment and Cash Conversion Cycle: The Mediating Role of Macroeconomic, Financial, and Real Activity Uncertainties 投资者情绪与现金转换周期:宏观经济、金融和实际经济活动不确定性的中介作用
IF 1.9 3区 经济学
Journal of Behavioral Finance Pub Date : 2023-06-02 DOI: 10.1080/15427560.2023.2217972
Augustine Tarkom, Lukai Yang
{"title":"Investor Sentiment and Cash Conversion Cycle: The Mediating Role of Macroeconomic, Financial, and Real Activity Uncertainties","authors":"Augustine Tarkom, Lukai Yang","doi":"10.1080/15427560.2023.2217972","DOIUrl":"https://doi.org/10.1080/15427560.2023.2217972","url":null,"abstract":"","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"44 1","pages":""},"PeriodicalIF":1.9,"publicationDate":"2023-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73816753","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Stock Price Reaction to Impromptu Managerial Soft Information in Conference Calls 股票价格对电话会议中即兴管理软信息的反应
IF 1.9 3区 经济学
Journal of Behavioral Finance Pub Date : 2023-05-22 DOI: 10.1080/15427560.2023.2214262
Stephen R. Owen
{"title":"Stock Price Reaction to Impromptu Managerial Soft Information in Conference Calls","authors":"Stephen R. Owen","doi":"10.1080/15427560.2023.2214262","DOIUrl":"https://doi.org/10.1080/15427560.2023.2214262","url":null,"abstract":"","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"40 1","pages":""},"PeriodicalIF":1.9,"publicationDate":"2023-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90300571","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Start Small and Stay Small: Anchoring in App-Based Investing 从小处开始，保持小:基于应用程序的投资锚定
IF 1.9 3区 经济学
Journal of Behavioral Finance Pub Date : 2023-05-18 DOI: 10.1080/15427560.2023.2209233
Jennifer Itzkowitz, J. Itzkowitz, Andrew Schwartz
{"title":"Start Small and Stay Small: Anchoring in App-Based Investing","authors":"Jennifer Itzkowitz, J. Itzkowitz, Andrew Schwartz","doi":"10.1080/15427560.2023.2209233","DOIUrl":"https://doi.org/10.1080/15427560.2023.2209233","url":null,"abstract":"","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"1 1","pages":""},"PeriodicalIF":1.9,"publicationDate":"2023-05-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75484877","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Did the Recognition of Operating Leases Cause a Decline in Equity Valuations? 经营租赁的确认是否导致了股权估值的下降?
3区 经济学
Journal of Behavioral Finance Pub Date : 2023-05-03 DOI: 10.1080/15427560.2023.2207021
Jonathan A. Milian, E. Jin Lee
{"title":"Did the Recognition of Operating Leases Cause a Decline in Equity Valuations?","authors":"Jonathan A. Milian, E. Jin Lee","doi":"10.1080/15427560.2023.2207021","DOIUrl":"https://doi.org/10.1080/15427560.2023.2207021","url":null,"abstract":"We examine whether investors display a lack of attention by not incorporating relevant public information into equity valuations. Beginning in 2019, ASC 842 requires the recognition of operating leases, which were previously only disclosed in the financial statement footnotes. This change in accounting standard results in firms with significant operating leases recognizing a considerable increase in debt. We find that firms with significant operating leases, on average, earned negative stock returns around the initial recognition of their operating leases. We find that the negative reaction to operating lease recognition does not vary with firm-level proxies for investor attention, which suggests a pervasive lack of attention to operating lease disclosures prior to ASC 842. Our results provide new evidence consistent with investors suffering from limited attention and equity prices reflecting a lack of fundamental analysis.","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134922911","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
The Influence of Emotions on Cross-Section Returns: Tests for Cognitive Appraisal Theory 情绪对横截面回报的影响:认知评价理论的检验
IF 1.9 3区 经济学
Journal of Behavioral Finance Pub Date : 2023-04-19 DOI: 10.1080/15427560.2023.2200187
Jiancheng Shen, Mohammad Najand, Chen Chen
{"title":"The Influence of Emotions on Cross-Section Returns: Tests for Cognitive Appraisal Theory","authors":"Jiancheng Shen, Mohammad Najand, Chen Chen","doi":"10.1080/15427560.2023.2200187","DOIUrl":"https://doi.org/10.1080/15427560.2023.2200187","url":null,"abstract":"","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"23 1","pages":""},"PeriodicalIF":1.9,"publicationDate":"2023-04-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80408365","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Information Processing in the Brain and Financial Innovations 大脑中的信息处理与金融创新
IF 1.9 3区 经济学
Journal of Behavioral Finance Pub Date : 2023-04-08 DOI: 10.1080/15427560.2023.2198718
Hammad Siddiqi
{"title":"Information Processing in the Brain and Financial Innovations","authors":"Hammad Siddiqi","doi":"10.1080/15427560.2023.2198718","DOIUrl":"https://doi.org/10.1080/15427560.2023.2198718","url":null,"abstract":"","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"2011 1","pages":""},"PeriodicalIF":1.9,"publicationDate":"2023-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73427128","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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