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Persistent link: https://www.econbiz.de/10012698899
The Spanish Second Republic was a unique experiment of democratization in interwar Spain, which was characterized by extreme levels of political uncertainty. In response to this uncertainty, we find that investors sold stocks in favor of government bonds. In fact, political uncertainty had a...
Persistent link: https://www.econbiz.de/10012824918
well in terms of diversification even for those investors worried about the alpha of funds. The benefits of diversification …
Persistent link: https://www.econbiz.de/10013008281
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
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
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
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
diversification behavior. This issue is relevant in that investors are increasingly in charge of their own financial security, but … diversification: what they do is to split equally their wealth among the asset classes available, in a naïve way. We try to detect if … willing to take. Moreover, only those who are literate in terms of diversification select less risky portfolios; the others …
Persistent link: https://www.econbiz.de/10013099250
This paper aims to empirically verify whether an individual European investor can enhance the diversification of his … the long term risk-return profile of a conventional asset allocation. The diversification benefits are realizable even …
Persistent link: https://www.econbiz.de/10013086058
This paper studies the link between individual investors' portfolio diversification levels and various personal traits … show higher diversification levels possibly because they are better equipped to obtain and process information. Finance … professionals, married investors, and those placing high-volume orders through investment centers show poorer diversification …
Persistent link: https://www.econbiz.de/10013091025