Journal of Behavioral and Experimental Finance最新文献_第10页

The clientele effects in equity crowdfunding: A complex network analysis 股权众筹的客户效应：复杂网络分析

IF 6.6 2区经济学

Journal of Behavioral and Experimental Finance Pub Date : 2024-03-02 DOI: 10.1016/j.jbef.2024.100907

Riccardo Righi , Alessia Pedrazzoli , Simone Righi , Valeria Venturelli

{"title":"The clientele effects in equity crowdfunding: A complex network analysis","authors":"Riccardo Righi , Alessia Pedrazzoli , Simone Righi , Valeria Venturelli","doi":"10.1016/j.jbef.2024.100907","DOIUrl":"10.1016/j.jbef.2024.100907","url":null,"abstract":"<div><p>The study develops an original interdisciplinary approach, leveraging complex networks through which it identifies groups of investors and projects in equity crowdfunding, investigates whether clientele effects arise resulting in specific investor-entrepreneur matching, and explores which investor-entrepreneur combinations can lead to the emergence of collective behaviors. Data about campaigns and investors are gathered from Crowdcube to identify investors and company types that populated this leading UK platform during its early years (2011–2016). Results show that the clientele effect exists only between specific investors and project types: serial investors are attracted to innovative companies, whereas high-value and small investors, representing the largest group in the crowd, prefer mature companies in the consumer product industry. Moreover, the study reveals that information exchange in certain matching drives the clientele effect, resulting in collective behavior on specific segments: small investors engage in collective behaviors only when targeting high-tech innovative companies. These findings provide a new view on the clientele effect in equity crowdfunding platforms and the financing of innovative companies.</p></div>","PeriodicalId":47026,"journal":{"name":"Journal of Behavioral and Experimental Finance","volume":"42 ","pages":"Article 100907"},"PeriodicalIF":6.6,"publicationDate":"2024-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2214635024000224/pdfft?md5=2ca241ba564755d32e1ca019fcbe7b33&pid=1-s2.0-S2214635024000224-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140054623","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Examining the bidirectional ripple effects in the NFT markets: Risky center or hedging center? 研究 NFT 市场的双向波纹效应：风险中心还是对冲中心？

IF 6.6 2区经济学

Journal of Behavioral and Experimental Finance Pub Date : 2024-03-01 DOI: 10.1016/j.jbef.2024.100904

Xu Zhang , Muhammad Abubakr Naeem , Yuting Du , Abdul Rauf

引用次数: 0

Evaluating SoJump.com as a tool for online behavioral research in China 将 SoJump.com 作为中国在线行为研究工具进行评估

IF 6.6 2区经济学

Journal of Behavioral and Experimental Finance Pub Date : 2024-03-01 DOI: 10.1016/j.jbef.2024.100905

Alessandro Del Ponte , Lianjun Li , Lina Ang , Noah Lim , Wei Jie Seow

引用次数: 0

Does the investment performance measure matter? A perspective from regulatory focus theory 投资业绩衡量标准重要吗？监管重点理论的视角

IF 6.6 2区经济学

Journal of Behavioral and Experimental Finance Pub Date : 2024-03-01 DOI: 10.1016/j.jbef.2024.100898

Alfred Ma , Tse-Mei Shu , Jieyu Chen , Man Foon Chau

引用次数: 0

Sanpo-yoshi, top management personal values, and ESG performance 三浦吉、高层管理人员的个人价值观与环境、社会和公司治理绩效

IF 6.6 2区经济学

Journal of Behavioral and Experimental Finance Pub Date : 2024-02-20 DOI: 10.1016/j.jbef.2024.100903

Thi Khanh Giang Nguyen , Tomoyuki Ozawa , Pengda Fan

引用次数: 0

Financial Freedom Perception Scale (FFPS): Construction and validation 财务自由感知量表（FFPS）：构建与验证

IF 6.6 2区经济学

Journal of Behavioral and Experimental Finance Pub Date : 2024-02-20 DOI: 10.1016/j.jbef.2024.100902

Kelmara Mendes Vieira , Taiane Keila Matheis , Ani Caroline Grigion Potrich , Mayara de Carvalho Puhle , Aureliano Angel Bressan , Leander Luiz Klein

{"title":"Financial Freedom Perception Scale (FFPS): Construction and validation","authors":"Kelmara Mendes Vieira , Taiane Keila Matheis , Ani Caroline Grigion Potrich , Mayara de Carvalho Puhle , Aureliano Angel Bressan , Leander Luiz Klein","doi":"10.1016/j.jbef.2024.100902","DOIUrl":"10.1016/j.jbef.2024.100902","url":null,"abstract":"<div><p>The main motivation of this study is the absence of consolidated measures to evaluate individuals' perceptions of financial freedom. So<strong>,</strong> this study has the objective of constructing and validating a Financial Freedom Perception Scale (FFPS). Furthermore, it seeks to provide the first evidence for differences in the perception of financial freedom according to gender, age, race and formal education. The research was developed by two main phases. The qualitative phase consisted of interviews, expert validation, and pre-test used to define the scale and the construction of the items. In the quantitative phase, two samples were collected: one with 1020 cases for exploratory analysis and another of 2293 respondents for confirmatory validation. The tests validated the FFPS as a one-dimensional scale consisting of nine items assessing the individual's financial freedom perception. We also present an application methodology for FFPS. We identified that a significant portion of the population perceives itself as financially free, but this perception is quite distinct among citizens of different profiles. The FFPS can be useful for academics, researchers, public managers, and financial agents. It can also indicate the results of public policies on financial inclusion, income transfer, and financial literacy.</p></div>","PeriodicalId":47026,"journal":{"name":"Journal of Behavioral and Experimental Finance","volume":"41 ","pages":"Article 100902"},"PeriodicalIF":6.6,"publicationDate":"2024-02-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139949583","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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

Honesty is predicted by moral values and economic incentives but is unaffected by acute stress 诚实受道德价值观和经济激励的影响，但不受急性压力的影响

IF 6.6 2区经济学

Journal of Behavioral and Experimental Finance Pub Date : 2024-02-15 DOI: 10.1016/j.jbef.2024.100899

Nina M. Sooter , Rajna Gibson Brandon , Giuseppe Ugazio

{"title":"Honesty is predicted by moral values and economic incentives but is unaffected by acute stress","authors":"Nina M. Sooter , Rajna Gibson Brandon , Giuseppe Ugazio","doi":"10.1016/j.jbef.2024.100899","DOIUrl":"10.1016/j.jbef.2024.100899","url":null,"abstract":"<div><p>Being truthful in financial decision-making often implies giving up higher monetary rewards associated with acting dishonestly. Is this trade-off affected by acute stress? We ran an experimental study to answer this question. Using three separate tasks to measure honesty, we examined whether decision-making in this context is influenced by a) the intrinsic value that subjects assign to honesty, b) the size of earnings achievable dishonestly, and c) by being acutely stressed (vs. in a neutral state) when making these decisions. Our main results show that subjects’ stated preference for honesty in general, the magnitude of financial rewards, and their interaction predict honest decision-making. However, their effects are immune to acute stress, which did not significantly alter honest decision-making. This finding is important when one considers that many financial decisions are taken by stressed managers and that there are significant costs associated with implementing ethical policies within corporations.</p></div>","PeriodicalId":47026,"journal":{"name":"Journal of Behavioral and Experimental Finance","volume":"41 ","pages":"Article 100899"},"PeriodicalIF":6.6,"publicationDate":"2024-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2214635024000145/pdfft?md5=7e26ab14bdb8a127b12477db24fffe71&pid=1-s2.0-S2214635024000145-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139815376","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Benefits of consistent and comprehensive financial advice during the great recession 在大衰退期间提供一致而全面的财务建议的益处

IF 6.6 2区经济学

Journal of Behavioral and Experimental Finance Pub Date : 2024-02-15 DOI: 10.1016/j.jbef.2024.100900

Aman Sunder , Lance Palmer , Swarn Chatterjee , Joseph Goetz

引用次数: 0

Unpacking the relevance of interpersonal trust in the blockchain era: Theory and experimental evidence 解读区块链时代人际信任的相关性：理论与实验证据

IF 6.6 2区经济学

Journal of Behavioral and Experimental Finance Pub Date : 2024-02-15 DOI: 10.1016/j.jbef.2024.100901

Đorđe Milosav , Marina Nistotskaya

{"title":"Unpacking the relevance of interpersonal trust in the blockchain era: Theory and experimental evidence","authors":"Đorđe Milosav , Marina Nistotskaya","doi":"10.1016/j.jbef.2024.100901","DOIUrl":"10.1016/j.jbef.2024.100901","url":null,"abstract":"<div><p>Despite being proclaimed a “trust-free” technology, the link between blockchain and interpersonal trust remains understudied. By considering one of the most prominent use-cases of blockchain - smart contracts, we argue that the non-punitive nature of smart contracts may facilitate trustworthy behavior in human interaction by encouraging trustees to view themselves as internally motivated cooperators and to honor the trustor’s move that exceeds the encoded response. We test this argument through an online experiment in which the hallmark property of smart contracts—automated enforcement—is exploited. The results show that trustees in the experimental treatment return ten percentage points more than their counterparts in the trust treatment, thereby exhibiting a more trustworthy behavior. This experimental evidence shows that the presence of blockchain technology does not crowd out all properties of trusting behavior from human interactions.</p></div>","PeriodicalId":47026,"journal":{"name":"Journal of Behavioral and Experimental Finance","volume":"42 ","pages":"Article 100901"},"PeriodicalIF":6.6,"publicationDate":"2024-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2214635024000169/pdfft?md5=ea088bb0f3fde136218bbe64b9b315a1&pid=1-s2.0-S2214635024000169-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139822014","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Dynamics of momentum in financial markets based on the information diffusion in complex social networks 基于复杂社会网络信息扩散的金融市场动量动力学

IF 6.6 2区经济学

Journal of Behavioral and Experimental Finance Pub Date : 2024-02-09 DOI: 10.1016/j.jbef.2024.100897

Xing Cai , Wei Xia , Weihua Huang , Haijun Yang

引用次数: 0