In this paper, we build undirected weighted networks to study herding behavior among analysts and to analyze the characteristics and the structure of these networks. We then construct a new indicator based on the average degree of nodes and the average weighted clustering coefficient to research...

This article employs the number of news appeared in Baidu News as a novel proxy for information arrival and investigates the validation of the Mixture of Distribution Hypothesis (MDH) using a sample of SME PRICE INDEX in China. The empirical results reveal a positive impact of internet...

Global climate change is one of the most serious global environmental problems faced by humankind at present. Serious attention should be paid and precautions should be taken before disasters occur. The amount of CO2 emissions in China has increased during the past few years and the Chinese...

What can traders learn and how does learning affect the market? When information is asymmetric, short-lived, and uninformed traders learn, we present an artificial limit order market model to examine the effect of learning, information value, and order aggressiveness on information dissemination...

BSV (Barberis, Shleifer and Vishny [Journal of Financial Economics 49 (1998) 307–343]) model is one of the three major behavioral finance models. The existing BSV model is about how behavioral investors form beliefs, and is able to produce both overreaction and mean-reversion for a wide range...

In this paper, we advocate the search frequency of stock name in Baidu Index as a novel and direct proxy for investor attention. Firstly, empirical results show that the quantified investor attention is a desired explanatory variable for abnormal return even trading volume is considered....

Using the Agent-based Computational Finance (ACF) method, we build an artificial stock market with heterogeneous adaptive investors and investigate the evolutionary and interacting relationship between rational investors and irrational investors. We find that with strategy switching, there is a...

Unethical conduct has reached crisis proportions in business (Walker et al., Wall Str J East Edn, 258(37):A1–A10, <CitationRef CitationID="CR150">2011</CitationRef>) and on today’s college campuses (Burke et al., CPA J, 77(5):58–65, <CitationRef CitationID="CR21">2007</CitationRef>). Despite the evidence that suggests that more than half of business students admit to dishonest...</citationref></citationref>

Although computer simulation can be used to determine the distribution of the product of two triangularly distributed variables for a specific application, a closed-form expression is preferable in general. Assuming independence, the closed-form probability density function of this product is...