Showing 1 - 10 of 9,095
We study exposure to pollution information and investment portfolio allocations, exploiting the rollout of air quality … information on investment choices is most prominent amongst tech-savvy investors who are most plausibly "treated" by real …
Persistent link: https://www.econbiz.de/10014421239
We provide a new explanation to the limited stock market participation puzzle. In deciding whether to buy stocks, investors factor in the risk of being cheated. The perception of this risk is a function not only of the objective characteristics of the stock, but also of the subjective...
Persistent link: https://www.econbiz.de/10012467028
We propose a framework where perceptions of uncertainty are driven by the interaction between cognitive constraints and the way that people learn about it--whether information is presented sequentially or simultaneously. People can learn about uncertainty by observing the distribution of...
Persistent link: https://www.econbiz.de/10014486240
We study the effects of monetary-policy-induced changes in Tobin's q on corporate investment and capital structure. We … develop a theory of the mechanism, provide empirical evidence, evaluate the ability of the quantitative theory to match the … evidence, and quantify the relevance for monetary transmission to aggregate investment …
Persistent link: https://www.econbiz.de/10013210051
This paper studies, theoretically and empirically, the role of overconfidence in political behavior. Our model of overconfidence in beliefs predicts that overconfidence leads to ideological extremeness, increased voter turnout, and increased strength of partisan identification. Moreover, the...
Persistent link: https://www.econbiz.de/10012459411
We introduce the model of asset management developed in Gennaioli, Shleifer, and Vishny (2012) into a Solow-style neoclassical growth model with diminishing returns to capital. Savers rely on trusted intermediaries to manage their wealth (claims on capital stock), who can charge fees above costs...
Persistent link: https://www.econbiz.de/10012459544
explored: bubble expectations and investor confidence. Semiannual time-series indicators of these attitudes are presented for … are presented. Four different time-series indicators of investor confidence, that nothing can go wrong, are produced. Time … negative-bubble expectations index, and an investor confidence index are derived from these indicators. Behavior of the …
Persistent link: https://www.econbiz.de/10012471792
investment, and allows managers to charge higher fees to investors who trust them more. Money managers compete for investor funds …
Persistent link: https://www.econbiz.de/10012460486
and its investment decisions leads to a systematic premium in the firm's share price relative to expected dividends. Noisy …'s decisions to their own benefit. The managers take advantage of shareholders by taking excessive investment risks when the market …
Persistent link: https://www.econbiz.de/10012461328
This paper analyzes the determinants of buyout funds' investment decisions. In a model in which the supply of capital … is "sticky" in the short run, we link the timing of funds' investment decisions, their risk-taking behavior, and the … investment choices. Our empirical findings are consistent with the model. First, established funds accelerate their investment …
Persistent link: https://www.econbiz.de/10012464467