Peer Effects in the Trading Decisions of Individual Investors
"This study examines for evidence of peer effects in the trading decisions of individual investors from Mainland China, a country whose cultural and social structures are vastly different from those of Western countries. Cultural differences, as widely documented, play a significant role in social interactions and word-of-mouth behavior. In contrast to US studies, we find robust evidence that the trading decisions of Chinese investors are influenced, via word of mouth, by those of their peers who maintain brokerage accounts at the same branch, but not by those whose accounts are maintained at another branch located in the same city." Copyright (c) 2010 Financial Management Association International.
Year of publication: |
2010
|
---|---|
Authors: | Ng, Lilian ; Wu, Fei |
Published in: |
Financial Management. - Financial Management Association - FMA. - Vol. 39.2010, 2, p. 807-831
|
Publisher: |
Financial Management Association - FMA |
Saved in:
freely available
Saved in favorites
Similar items by person
-
Revealed stock preferences of individual investors : evidence from Chinese equity markets
Ng, Lilian, (2006)
-
The trading behavior of institutions and individuals in Chinese equity markets
Ng, Lilian K., (2007)
-
Peer effects in the trading decisions of individual investors
Ng, Lilian K., (2010)
- More ...