Journal of Behavioral Finance最新文献

{"title":"How Do Stockholders Behave at the Onset of Major Crises? Attribution and Reputation over Decades","authors":"Cécile Carpentier, Frédéric Romon, Jean-Marc Suret","doi":"10.1080/15427560.2022.2108032","DOIUrl":"https://doi.org/10.1080/15427560.2022.2108032","url":null,"abstract":"","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"33 1","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76695496","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}

{"title":"Investor Herding and Price Informativeness in Global Markets: Evidence from Earnings Announcements","authors":"Tao Chen, R. Larson, Han Mo","doi":"10.1080/15427560.2022.2100380","DOIUrl":"https://doi.org/10.1080/15427560.2022.2100380","url":null,"abstract":"","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"16 1","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85027522","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}

{"title":"The Price of Happiness: Traders’ Experiences of Work in Investment Banks","authors":"Daphne Sobolev","doi":"10.1080/15427560.2022.2100385","DOIUrl":"https://doi.org/10.1080/15427560.2022.2100385","url":null,"abstract":"","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"52 1","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78264862","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}

{"title":"The Sustainability of Investment Decision Making","authors":"P. Klumpes","doi":"10.1080/15427560.2022.2100382","DOIUrl":"https://doi.org/10.1080/15427560.2022.2100382","url":null,"abstract":"","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"18 1","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-07-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83249380","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}

{"title":"Those Who Learn from History Are Doomed to Repeat It","authors":"Frank J. Fabozzi, K. C. Chen, K. C. Ma, Ramesh Rao","doi":"10.1080/15427560.2022.2100387","DOIUrl":"https://doi.org/10.1080/15427560.2022.2100387","url":null,"abstract":"","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"23 1","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-07-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88147225","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}

{"title":"Sentiment, Attention, and Earnings Pricing","authors":"Qiuye Cai, Kenneth Yung","doi":"10.1080/15427560.2022.2100381","DOIUrl":"https://doi.org/10.1080/15427560.2022.2100381","url":null,"abstract":"","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"45 1","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83068946","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}

{"title":"Investor Sentiment and Market-Wide Liquidity Pricing","authors":"Soumaya Yaakoubi","doi":"10.1080/15427560.2022.2100379","DOIUrl":"https://doi.org/10.1080/15427560.2022.2100379","url":null,"abstract":"<p><b>Abstract</b></p><p>The recent asset pricing evidence on the return-liquidity risk relationship is mixed and somewhat ambiguous. We reevaluate the importance of market-wide liquidity and liquidity risk for equity pricing by taking the role of investor sentiment into account. Regarding the market-wide liquidity level as a systematic factor, we find that high market sentiment tends to weaken the effect of market-wide illiquidity - both expected and unexpected - on stocks returns. With respect to systematic liquidity exposure as a priced risk factor, the results show that the effect of exposure to shocks in aggregate liquidity on expected returns is significantly positive when sentiment is low, while it is significantly negative when sentiment is high suggesting that “rational” asset pricing is only valid in the low sentiment regime without too much turbulence caused by sentiment traders.</p>","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"12 1","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138530930","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}

{"title":"The Impact of Google Searches, Put-Call Ratio, and Trading Volume on Stock Performance Using Wavelet Coherence Analysis: The AMC Case","authors":"Evangelos Vasileiou, Polydoros Tzanakis","doi":"10.1080/15427560.2022.2100384","DOIUrl":"https://doi.org/10.1080/15427560.2022.2100384","url":null,"abstract":"","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"56 1","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81165512","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}

{"title":"Media Sentiment and Institutional Ownership","authors":"L. T. M. Nguyen, Jun Myung Song","doi":"10.1080/15427560.2022.2100378","DOIUrl":"https://doi.org/10.1080/15427560.2022.2100378","url":null,"abstract":"","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"71 1","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73018347","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}

{"title":"Introduction to the Special Issue in Honor of Professor Vernon Lomax Smith","authors":"M. Desantis, David Porter","doi":"10.1080/15427560.2022.2100388","DOIUrl":"https://doi.org/10.1080/15427560.2022.2100388","url":null,"abstract":"This Journal of Behavioral Finance issue is dedicated to Vernon Lomax Smith on the occasion of his 95th Birthday. In addition to Vernon’s Birthday, it is also the 20th Anniversary of his 2002 Nobel Prize in Economic Sciences. Vernon is the founder of the field of Experimental Economics and Finance, and his work has spanned a variety of areas in Behavioral Finance. Indeed, Vernon was a founding member of the board of editors for the Journal of Behavioral Finance. Vernon authored the seminal papers on market bubbles in the laboratory (e.g., Smith et al. 1988; Porter and Smith 1994, 1995; Caginalp, Porter, and Smith 1998) along with scores of papers on auctions and auction design (e.g., Smith 1966; Cox, Smith, and Walker 1988; McCabe, Rassenti, and Smith 1991). In terms of individual decision-making and risk, Vernon has examined individual rationality versus market rationality (e.g., Knez, Smith, and Williams 1985). He has also provided deep insights on individual play in game theory (e.g. Hoffman, McCabe, and Smith 1996; McCabe, Rassenti, and Smith 1996; Smith and Wilson 2018). Vernon’s work has greatly influenced several generations of economists and will have a lasting place amongst the many tomes dedicated to the understanding of human behavior. The papers published in this special issue can be broadly grouped into two research areas that Vernon has greatly influenced, market behavior and individual behavior. For market behavior, the paper \"Informational price cascades and non-aggregation of asymmetric information in experimental asset markets,\" by Jason Shachat and Anand Srinivasan, shows that asset markets are not good at aggregating asymmetric information concerning a common dividend. The authors find aggregation fails because prices lock into homegrown norms that form informational cascades. This paper also examines the timing at which information is revealed to traders. When information is released to all traders early in the trading period, prices reflect aggregate information better. This paper is in contrast to Vernon’s famous 1962 paper “An experimental study of competitive market behavior,” where he found that consumer spending markets with defined sellers and buyers can find the competitive market equilibrium using the double auction market. This established the foundation that markets can effectively aggregate information, which became the standard result for many years. However, in 2012, Vernon and his colleagues challenged this result for markets with durable goods (Dickhaut et al. 2012). They found that the information aggregation process is disrupted when goods can be resold. Ever the scientist, Vernon continues to challenge results the profession thought were settled. The second paper on asset markets, \"Return predictability in laboratory asset markets,\" by Zhongming Cheng and Shengle Lin uses laboratory experiments to investigate the positive correlation between retail order imbalance and short-term excess returns. Using the fa","PeriodicalId":47016,"journal":{"name":"Journal of Behavioral Finance","volume":"3 1","pages":"368 - 370"},"PeriodicalIF":1.9,"publicationDate":"2022-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88748105","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}