This paper experimentally studies the disposition effects of teams and individuals. The disposition effect describes the phenomenon that investors are reluctant to realize losses, whereas winners are sold too early. Our experiments compare the investments of two-person teams to a setting where...

Purpose - The purpose of this paper is to investigate whether sentiment and mood, which are distinct theoretical concepts, can also be distinguished empirically. Design/methodology/approach - Using a sample of German small-cap stocks and linear techniques, the effect of sentiment and mood on...

Despite much discussion in the psychology and marketing literature as to how emotions influence decision-making, this area of analysis has been largely neglected in the finance literature. We redress this important gap by using proxies for emotions drawn from the news and social media to...

The assumption that mood affects investors' behavior in the field is gaining acceptance due to experimental studies and papers linking stock returns with environmental variables, such as weather and length of day. To identify mood effects this paper utilizes account level stock trading data from...