Examining China's stock market, mean variance is used to measure returns and risk and build an irrational risk-asset pricing model. The power of heterogeneous beliefs and risk-valuation deviation are found to affect capital asset pricing, presenting excessive fluctuations that neoclassical...

Modern finance theory assumes that the stock market is efficient, and stock prices reflect all available information. However, behavioral finance theory argues that stock prices can be influenced by psychological and emotional factors. This study aims to examine the impact of behavioral finance...

The real challenge to many practitioners in the financial and investment sector is to accurately profile risk-averse investors to still be inclusive of these investors in the wealth creation process. This study aims to profile risk-averse investors through a structural equation model based on...

This paper focuses on determining the factors influencing investors' risk-taking through empirical evidence from Vietnam. This study investigates risk perception, expected return and herding behavior, and other determinants such as historical volatility and subjective financial risk attitude;...

This paper examined the impacts of; investor sentiment, governance, and uncertainty on bank stock returns in the Middle East and North Africa (MENA) and Gulf Cooperation Council (GCC) region countries. The sample consisted of 173 conventional and Islamic banks based in the MENA region and 68...

The question of the economic policy uncertainty, interest rate and oil price volatility and their effects on investor sentiment is rarely addressed by the literature. Thus, we are motivated to provide new insights into the study of these effects based on asymmetric analysis. Our empirical study...

While informal debt is often used as a funding source for retail investors, very little is known about the characteristics of its sources and use. This is particularly true in emerging markets where the use of informal debt is widespread. We examine the determinants of the use of informal debt...

We study Aumann and Serrano's (2008) risk index for sums of gambles that are not dependent. If the dependent parts are similarly ordered, then the risk index of the sum is always larger than the minimum of the risk indices of the two gambles. For negative dependence, the risk index of the sum is...