Recent findings have shown that the Prague Exchange featured a very active and developed stock options market right until its pre-war closure in September 1938. This paper follows up on extensive research into fragmentary archival resources, aggregating a unique collection of options quotations...

This paper investigates the motive of option trading. We show that option trading is mostly driven by differences of opinion, a finding different from the current literature that attempts to attribute option trading to information asymmetry. Our conclusion is based on three pieces of empirical...

Die Krise des Bankhauses Baring wurde von Spekulationen mit Derivaten, in diesem Fall mit Futures und Optionen ausgelöst. Sie stellt einen Einschnitt in der Entwicklung der Finanzmärkte dar, denn sie hat neue Risiken deutlich gemacht. Um ähnliche - möglicherweise noch weitreichendere -...

This paper contributes to the behavioural finance literature that examines the asset pricing impact of mood altering events such as sports results, sunshine levels, daylight hours, public holidays, temperature etc. Specifically, we investigate whether variations in investor mood arising from...

This paper aims, through laboratory-based economic experiments, to shed light on the decision-making process in SRI and how it differs from decision making by other types of investors. We asked subjects to make decisions regarding stock investments on the basis of the three attributes of return,...

We find evidence for price clustering in both oil and coal price data. We further find that there is significant evidence that these clusterings represent psychological barriers, and that these affect both the level and the volatility of prices around these barriers.

Purpose –The purpose of this paper is to present and empirically test for the first time the hypothesis that herding in a market increases following the market's merger in an exchange group. Design/methodology/approach –The hypothesis is tested empirically in EURONEXT's four European equity...

The purpose of this study is to examine whether investor sentiment influences the stock price reaction to football matches results, giving some contribute to the behaviour finance, or if investors react in a rational way, giving evidence of standard finance. To proxy for investor sentiment, we...

This essay looks at the bidirectional relationship between financial history and financial economics. It begins by giving a brief history of financial economics by outlining the main topics of interest to financial economists. It then documents and explains the increasing influence of financial...

India has been in centre stage of developing economies and commends high respect in knowledge based industries India has opened it economy to international competition and Indian products now compete with best products of the world. Indian promoters have realized that human resource is basic for...