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The use of the recognition heuristic as an investment strategy in European stock markets

Lobão, Júlio; Pacheco, Luís; Pereira, Carlos - In: Journal of economics, finance & administrative science 22 (2017) 43, pp. 207-223

Purpose: People often face constraints such as a lack of time or information in taking decisions, which leads them to use heuristics. In these situations, fast and frugal rules may be useful for making adaptive decisions with fewer resources, even if it leads to suboptimal choices. When applied...

Persistent link: https://www.econbiz.de/10011875260

The impact of risk attitudes on financial investments

Hyll, Walter; Irrek, Maike - 2015

Several scholars analyze the relationship between individuals’ willingness to take risks and financial investment decisions. We add to this literature in using data from the German Socio-Economic Panel which allow ruling out that investments in risky assets itself impact on risk attitudes. We...

Persistent link: https://www.econbiz.de/10011317853

Is Local Bias a Cross-Border Phenomenon? Evidence from Individual Investors’ International Asset Allocation

Baltzer, Markus - 2014

stocks (local bias). We hypothesize that individual investors' local bias is not limited to the domestic sphere but instead … also determines their international investment decisions. Our results confirm the presence of a cross-border local bias … a significantly lower foreign investment bias towards investment opportunities in that country and that this drop in …

Persistent link: https://www.econbiz.de/10013064735

Is local bias a cross-border phenomenon? : evidence from individual investors’ international asset allocation

Baltzer, Markus; Stolper, Oscar; Walter, Andreas - 2013

stocks (local bias). We hypothesize that individual investors’ local bias is not limited to the domestic sphere but instead … also determines their international investment decisions. Our results confirm the presence of a cross-border local bias … display a significantly lower foreign investment bias towards investment opportunities in that country and (ii) that this drop …

Persistent link: https://www.econbiz.de/10009740268

Is Local Bias a Cross-Border Phenomenon? Evidence from Individual Investors' International Asset Allocation

Baltzer, Markus - 2016

stocks (local bias). We hypothesize that individual investors' local bias is not limited to the domestic sphere but instead … also determines their international investment decisions. Our results confirm the presence of a cross-border local bias … display a significantly lower foreign investment bias towards investment opportunities in that country and (ii) that this drop …

Persistent link: https://www.econbiz.de/10012988780

Broadband internet and the stock market investments of individual investors

Hvide, Hans K.; Meling, Tom G.; Mogstad, Magne; Vestad, … - 2021

We study the effects of broadband internet use on the portfolio selection of individual investors. A public program in Norway provides plausibly exogenous variation in internet use. Our instrumental variables estimates show that internet use causes a substantial increase in stock market...

Persistent link: https://www.econbiz.de/10012419415

Implied rates of return, the discount rate effect, and market risk premia

Breuer, Wolfgang; Gürtler, Marc - 2010 - This Version: 2010-10-22

risk premia. The extent of this bias is substantial as verified by a bootstrap approach. We present an alternative …

Persistent link: https://www.econbiz.de/10009487229

Investor Orientations and Endowment Portfolio Investments in German Foundations

Kremer, Maximilian; Achleitner, Ann‐Kristin - 2021

Germany benefits from an especially lively philanthropic sector, with over twenty three thousand active charitable foundations. An empirical assessment of the portfolio preferences of German foundations yields fundamental intragroup differences in their approach to asset allocation. We build on...

Persistent link: https://www.econbiz.de/10013226243

Broadband Internet and the Stock Market Investments of Individual Investors

Hvide, Hans K.; Meling, Tom; Mogstad, Magne; Vestad, … - 2021

Persistent link: https://www.econbiz.de/10013242295

Broadband Internet and the Stock Market Investments of Individual Investors

Hvide, Hans K.; Meling, Tom; Mogstad, Magne; Vestad, … - 2022

We study the effects of broadband internet use on the investment decisions of individual investors. A public program in Norway provides plausibly exogenous variation in internet use. Our instrumental variables estimates show that internet use causes a substantial increase in stock market...

Persistent link: https://www.econbiz.de/10013492506