This paper analyzes the relationship between individuals' locus of control and their savings behavior, i.e. wealth accumulation, savings rates, and portfolio choices. Locus of control is a psychological concept that captures individuals' beliefs about the controllability of life events and is a...

This paper analyzes the relationship between individuals' locus of control and their savings behavior, i.e. wealth accumulation, savings rates, and portfolio choices. Locus of control is a psychological concept that captures individuals' beliefs about the controllability of life events and is a...

This paper analyzes the relationship between individuals' locus of control and their savings behavior, i.e. wealth accumulation, savings rates, and portfolio choices. Locus of control is a psychological concept that captures individuals' beliefs about the controllability of life events and is a...

We study the relative importance of social factors (including household, workplace, and neighbourhood peer effects) and personal characteristics (including age, gender, tax rates, and funds under management) for asset allocation decisions. The most important factors (in order) are household peer...

Both a healthy lifestyle and financially responsible behavior contribute to individual wellbeing and benefit society. Motivated by the fact that both types of behavior involve short-term sacrifices in exchange for uncertain long-term benefits and require self-control, we examine individuals'...

We introduce the concept of fraud morality, validate such conceptualization by prior studies in economics and criminology as well as by our own independent tests, and explore the relationship of fraud morality with numerous cultural attributes using data from the World Values Survey. Applying...

This study investigates whether CEO Big Five personalities (i.e., agreeableness, conscientiousness, extraversion, neuroticism and openness) are associated with stock price crash risk. The Big Five can influence managerial behaviors to withhold or release bad news. When the amount of withheld...

We analyze whether differences in market-wide levels of investor personality influence experimental asset market outcomes in terms of price bubbles and levels. We employ a questionnaire to determine investor personality and combine the survey data with data from experimental asset markets. We...

The aim of this paper is to study the influence of CEOs' overconfidence on corporate R&D. We analyze a sample of 766 firms from the UK, France, Germany, Switzerland, Italy, Spain and the Netherlands between 2008 and 2013. We use three measures of managerial overconfidence: the press coverage of...

We show that personality traits are related to an investor's preferences for value versus growth stocks and for small capitalization stocks versus large capitalization stocks. We have detailed personality trait data and official register holdings of stocks for 710 individuals in Finland. The...