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An Evolutionary Explanation of the Value Premium Puzzle
Hens, Thorsten; Schenk-Hoppé, Klaus Reiner; Woehrmann, … - Institut für Schweizerisches Bankwesen <Zürich> - 2006
finance model of Evstigneev, Hens, and Schenk-Hopp (2006) as well as empirically using stock price data from the Dow. The …
Persistent link: https://www.econbiz.de/10005858582
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Does Everyone Use Probabilities? Intuitive and Rational Decisions about Stockholding
Binswanger, Johannes; Salm, Martin - Institute for the Study of Labor (IZA) - 2013
We investigate the relationship between subjective probabilities of future stock market returns and decisions about stockholding. Specifically, we examine whether acting upon subjective probabilities is confined to individuals with high cognitive skills. We explore this question using data from...
Persistent link: https://www.econbiz.de/10010631344
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Better Means More: Property Rights and High-Growth Aspiration Entrepreneurship
Estrin, Saul; Korosteleva, Julia; Mickiewicz, Tomasz - Institute for the Study of Labor (IZA) - 2009
entrepreneurship, but has less pronounced effects for entrepreneurial entry. The availability of finance and the fiscal burden matter …
Persistent link: https://www.econbiz.de/10005015496
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Feasible Momentum Strategies
Rey, David M.; Schmid, Markus - Institut für Schweizerisches Bankwesen <Zürich> - 2004
Momentum strategies based on continuations in stock prices have become increas-ingly popular among academics, money managers, and investors in recent years. While there is little controversy on the profitability of momentum strategies, their implementation is afflicted with many difficulties....
Persistent link: https://www.econbiz.de/10005858929
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Performance analysis of international mutual funds incorporating market frictions
ter Horst, Jenke; Nijman, Theo; de Roon, F.A. - Tilburg University, Center for Economic Research - 1998
Persistent link: https://www.econbiz.de/10011090489
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Decision Making in the Pension Fund Board Room : An Experiment with Dutch Pension Fund Trustees
van Dalen, H.P.; Henkens, K.; Koedijk, C.G.; Slager, A.M.H. - Tilburg University, Center for Economic Research - 2010
We ask how pension fund trustees deal with the booms and busts that funds encounter, and to what extent the decisions of pension fund trustees are affected by behavioral biases. We examine these issues by using a vignette-method field experiment among Dutch pension fund trustees. We find that...
Persistent link: https://www.econbiz.de/10011092529
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Does Finance have a cultural Dimension?
Hens, Thorsten; Wang, Mei - Institut für Schweizerisches Bankwesen <Zürich> - 2007
According to the traditional view held in finance returns of assets are determined by complete rationality of decision …
Persistent link: https://www.econbiz.de/10005858207
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Evolutionary Finance
Evstigneev, Igor’ V.; Hens, Thorsten; Schenk-Hoppé, … - Institut für Schweizerisches Bankwesen <Zürich> - 2008
Evolutionary nance studies the dynamic interaction of investment strategies in nancialmarkets. This market interaction generates a stochastic wealth dynamics on aheterogenous population of traders through the uctuation of asset prices and theirrandom payos. Asset prices are endogenously...
Persistent link: https://www.econbiz.de/10005869072
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Finance and Growth for Microenterprises : Evidence from Rural China
Beck, Thorsten; Lu, L.; Yang, R. - Tilburg University, Center for Economic Research - 2013
Abstract: Using a survey dataset of Chinese rural households, we find that access to external finance is positively … associated with the decision to become entrepreneur, the initial investment for microenterprises and the use of external finance …. Also, we find that the use of informal finance is positively associated with sales growth of microenterprises with …
Persistent link: https://www.econbiz.de/10011092482
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Finance and Efficiency: Do Bank Branching Regulations Matter?
Acharya, Viral V.; Imbs, Jean; Sturgess, Jason - Institut für Schweizerisches Bankwesen <Zürich> - 2007
to finance. We find that convergence is faster - in terms of distance to the efficient frontier and improving Sharpe … characterized by young, small and external finance dependent firms. Convergence is also faster for states that have a larger share …
Persistent link: https://www.econbiz.de/10005858336