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Is local bias a cross-border phenomenon? : evidence from individual investors’ international asset allocation
Baltzer, Markus; Stolper, Oscar; Walter, Andreas - 2013
stocks (local bias). We hypothesize that individual investors’ local bias is not limited to the domestic sphere but instead … also determines their international investment decisions. Our results confirm the presence of a cross-border local bias … display a significantly lower foreign investment bias towards investment opportunities in that country and (ii) that this drop …
Persistent link: https://www.econbiz.de/10009740268
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Who trades on momentum?
Baltzer, Markus; Jank, Stephan; Smajlbegovic, Esad - 2014
declines with investors’ financial sophistication though, as proxied by financial wealth and equity home bias. Observing …
Persistent link: https://www.econbiz.de/10010471006
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Return differences between DAX ETFs and the benchmark DAX
Schmidhammer, Christoph - 2021
For the DAX index market, this paper analyses the development of return differences between exchange traded funds (ETFs) and the DAX index from the perspective of long-term investors. The newly introduced methodology provides the opportunity to continuously identify long-term costs of passively...
Persistent link: https://www.econbiz.de/10012607112
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Risk attitude and capital market participation : is there a gender investment gap in Germany?
Fey, Jan-Christian; Lerbs, Oliver; Schmidt, Carolin; … - 2020
Do women invest differently than men? We contribute to the answer of this question by analysing the Panel on Household Finances (PHF) of the German Bundesbank. This representative panel collects a wide variety of behavioural and financial variables in the area of household finance. We find that...
Persistent link: https://www.econbiz.de/10012387111
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Decomposing the disposition effect
Maier, Johannes K.; Fischer, Dominik Simon - 2021
, it identifies the presence of some systematic bias. We further investigate the measure’s comparative statics regarding …
Persistent link: https://www.econbiz.de/10012648374
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Black Monday, globalization and trading behavior of stock investors
Kurz-Kim, Jeong-Ryeol - 2016
Using a simple sign test, we report new empirical evidence, taken from both the US and the German stock markets, showing that trading behavior substantially changed around Black Monday in 1987. It turned out that before Black Monday investors behaved more as in the momentum strategy; and after...
Persistent link: https://www.econbiz.de/10011486252
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Unleashing animal spirits : self-control and overpricing in experimental asset markets
Kocher, Martin; Lucks, Konstantin; Schindler, David - 2018
One explanation for overpricing on asset markets is a lack of traders' self-control. Self-control is the individual capacity to override or inhibit undesired impulses that may drive prices. We implement the first experiment to address the causal relationship between self-control abilities and...
Persistent link: https://www.econbiz.de/10011899248
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Investor responses to information updates on peer behavior and public investment policy : the case of green investments
Alt, Marius; Berger, Marius; Bersch, Johannes - 2023 - This version: May, 2023
Green startups are a major driver of eco-innovation and as such a major contributor to climate change mitigation and green growth. However, they often lack sufficient funding from investors. Our study focuses on the factors that determine venture capital investors to invest in green startups. In...
Persistent link: https://www.econbiz.de/10014311702
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Adaptation, Anticipation-bias and optimal income taxation
Aronsson, Thomas; Schöb, Ronnie - 2012
lives for three periods. Our results show how a paternalistic government may correct for the effects of anticipation-bias … ; adaptation ; habit-formation ; anticipation-bias ; paternalism …
Persistent link: https://www.econbiz.de/10009559801
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Inattention and the taxation bias
Boccanfuso, Jérémy; Ferey, Antoine - 2022 - This version: August 2021
equilibrium, inattention leads to inefficiently high tax rates and a taxation bias emerges. Combining structural and sufficient … find that the taxation bias is large, alters the progressivity of income taxes, and significantly reduces social welfare …
Persistent link: https://www.econbiz.de/10013193793