Narrow search
Showing 1 - 10 of 2,362
Cover Image
Large shareholder diversification and corporate risk-taking
Faccio, Mara; Marchica, Maria-Teresa; Mura, Roberto - 2011
diversification across large shareholders. Exploiting this heterogeneity, we document that firms controlled by diversified large … shareholder diversification on corporate risk-taking is both economically and statistically significant. Our results have … welfare. -- Risk-taking choices ; Large shareholders ; Portfolio diversification …
Persistent link: https://www.econbiz.de/10009411473
Cover Image
Large Shareholder Diversification and Corporate Risk-Taking
Faccio, Mara - 2012
diversification across large shareholders. Exploiting this heterogeneity, we document that firms controlled by diversified large … shareholder diversification on corporate risk-taking is both economically and statistically significant. Our results have …
Persistent link: https://www.econbiz.de/10013116279
Cover Image
Oil price shocks, investor sentiment, and asset pricing anomalies in the oil and gas industry
Zhu, Zhaobo; Ji, Qiang; Sun, Licheng; Zhai, Pengxiang - In: International review of financial analysis 70 (2020), pp. 1-17
Persistent link: https://www.econbiz.de/10012318226
Cover Image
Paralyzed by shock and confused by glut : the portfolio formation behavior of peer-to-business lending investors
Dorfleitner, Gregor; Hornuf, Lars; Weber, Martina - 2018
We study the investor behavior on a leading peer-to-business lending platform and find evidence of two new investment biases - a default shock bias and a deep market bias. First, we find investors to stop investing in new loans and to cease from diversifying their portfolio after experiencing a...
Persistent link: https://www.econbiz.de/10011863582
Cover Image
Chapter 22. The Behavior of Individual Investors
Barber, Brad M.; Odean, Terrance - 2013
We provide an overview of research on the stock trading behavior of individual investors. This research documents that individual investors (1) underperform standard benchmarks (e.g. a low-cost index fund), (2) sell winning investments while holding losing investments (the “disposition...
Persistent link: https://www.econbiz.de/10014025356
Cover Image
EMU Effects on Stock Markets : From Home Bias to Euro Bias
Giofré, Maela - 2009
The shift of perspective from a national basis to a Euro area basis, inevitably induced by EMU, has led member countries to a parallel shift from equity home bias to equity Euro bias. We interpret this evidence by means of a standard mean-variance portfolio selection model modified in order to...
Persistent link: https://www.econbiz.de/10013159821
Cover Image
International Investment Positions Revisited : Investor Heterogeneity and Individual Security Characteristics
Adriaan Boermans, Martijn - 2016
In this paper we show empirically how international investment positions are determined by investor heterogeneity and individual security characteristics. We do so by estimating a gravity model with newly available data that contains both domestic and international holdings of individual sectors...
Persistent link: https://www.econbiz.de/10012978381
Cover Image
International Diversification Benefits : An Investigation from the Perspective of Chinese Investors
Jiang, Chonghui - 2010
This paper investigates the potential benefits of international diversification with short-selling constraints from the …-sample test also demonstrates that international diversification can greatly enhance the expected portfolio returns as well as the … that international portfolios need to be rebalanced frequently in order to generate the greatest possible diversification …
Persistent link: https://www.econbiz.de/10013145384
Cover Image
Rational Herd Behavior and the Globalization of Securities Markets
Calvo, Guillermo A.; Mendoza, Enrique G. - 1998
This paper shows that globalization of securities markets exacerbates the volatility of capital flows by strengthening incentives for herding behavior. This is a prediction of a mean-variance portfolio optimization model with imperfect information, in which investors acquire country-specific...
Persistent link: https://www.econbiz.de/10014217255
Cover Image
Risk-On Risk-Off : A Multifaceted Approach to Measuring Global Investor Risk Aversion
Chari, Anusha; Stedman, Karlye Dilts; Lundblad, Christian - National Bureau of Economic Research - 2023
This paper defines risk-on risk-off (RORO), an elusive terminology in pervasive use, as the variation in global investor risk aversion. Our high-frequency RORO index captures time-varying investor risk appetite across multiple dimensions: advanced economy credit risk, equity market volatility,...
Persistent link: https://www.econbiz.de/10014437038