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This chapter for an upcoming handbook on mutual funds (by Edward Elgar Publishing) offers an overview of the mutual fund market and the investors who inhabit it. On the supply side, mutual funds hold $16 trillion in financial assets and have become the largest component of our private retirement...
Persistent link: https://www.econbiz.de/10012981069
The topic of risk incorporates a variety of definitions within different fields such as psychology, sociology, finance, and engineering. In academic finance, the analysis of risk has two major perspectives known as standard (traditional) finance and behavioral finance. The central focus of...
Persistent link: https://www.econbiz.de/10013137271
Prior studies provide only limited evidence on how and why investors rely on analyst forecasts. We investigate one aspect of this research paradigm by examining investor response to analyst forecast revisions using accounting restatements as a proxy for uncertainty. We find that investors tend...
Persistent link: https://www.econbiz.de/10013138792
We examine (i) whether the business practices of Berkshire Hathaway investees are consistent with Warren Buffett's public statements on what constitutes good accounting, governance and investing practices and (ii) whether these practices are associated with Berkshire's initial “selection” or...
Persistent link: https://www.econbiz.de/10013092752
Survey evidence shows CFOs to believe that earnings management can enhance investor valuation of their firms. This evidence raises the question of correspondence between the beliefs of CFOs and investors. Surveying financial analysts to gain insight into how earnings management influences...
Persistent link: https://www.econbiz.de/10013064719
This paper shows that an important link between investor sentiment and firm overvaluation is optimistic earnings expectations, and that management earnings guidance aids in resolving sentiment-driven overvaluation. Using the firm characteristics identified by Baker and Wurgler (2006), we find...
Persistent link: https://www.econbiz.de/10013068103
This is a PDF file of 'Financial Behavior: The Psychology of Client Communications" presented at the Financial Planning Association (FPA) of Greater Indiana Chapter, November 2019 meeting.This presentation focused on how financial experts and their clients exhibit a wide array of behavioral...
Persistent link: https://www.econbiz.de/10012835907
Investors are inextricably linked to financial institutions, money managers, and the products they market. Mutual funds, exchange-traded funds (ETFs), hedge funds, and pension funds manage or hold roughly $55 trillion in combined wealth. This chapter examines these topics with a behavioral...
Persistent link: https://www.econbiz.de/10012954545
This chapter discusses personal financial planning, which is an interdisciplinary practice that employs a six-step process to develop integrated strategies for individuals and families to efficiently mobilize their human and financial capital to achieve their life goals. Financial planning draws...
Persistent link: https://www.econbiz.de/10012954723
The role of financial decision maker in a household has evolved over time. Decades ago, women held traditional roles of caregiver, housekeeper, and wife. Today, more women are pursuing higher education and female professionals and entrepreneurs are making great strides in business. Women are...
Persistent link: https://www.econbiz.de/10012954830