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Overconfidence and Trading Volume
Glaser, Markus; Weber, Martin - Institute for Financial Research (SIFR) - 2005
hypothesis by correlating individual overconfidence scores with several measures of trading volume of individual investors … was designed to measure various facets of overconfidence (miscalibration, volatility estimates, better than average effect … mainly motivate this assumption by the calibration literature and model overconfidence as underestimation of the variance of …
Persistent link: https://www.econbiz.de/10005190926
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Overconfidence and Trading Volume
Glaser, Markus; Weber, Martin - C.E.P.R. Discussion Papers - 2003
hypothesis by correlating individual overconfidence scores with several measures of trading volume of individual investors … was designed to measure various facets of overconfidence (miscalibration, the better than average effect, illusion of … calibration literature and model overconfidence as underestimation of the variance of signals. The results hold even when we …
Persistent link: https://www.econbiz.de/10005656212
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Overconfidence and market efficiency with heterogeneous agents
Garcia, Diego; Sangiorgi, Francesco; Urosevic, Branko - Department of Economics and Business, Universitat … - 2004
overconfidence bias does not aect informational efficiency, price volatility, rational traders’ expected profits or their welfare …. Intuitively, as overconfidence goes up, so does price infornativeness, which makes rational agents cut their information …
Persistent link: https://www.econbiz.de/10005772209
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Overconfidence and Market Efficiency with Heterogeneous Agents
Garcia, Diego; Sangiorgi, Francesco; Urosevic, Branko - Collegio Carlo Alberto, Università degli Studi di Torino - 2005
the overconfidence bias does not affect informational efficiency, price volatility, ra- tional traders expected profits or … their welfare. Intuitively, as overconfidence goes up, so does price informativeness, which makes rational agents cut their …
Persistent link: https://www.econbiz.de/10005405543
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On Risk Management Determinants: What Really Matters?
Dionne, Georges; Triki, Thouraya - Centre Interuniversitaire sur le Risque, les Politiques … - 2004
We investigate the determinants of the risk management decision for an original dataset of North American gold mining firms. We propose explanations based on the firm's financial characteristics, managerial risk aversion and internal corporate governance mechanisms. We develop a theoretical...
Persistent link: https://www.econbiz.de/10005670287
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Overconfidence and trading volume
Glaser, Markus; Weber, Martin - In: The Geneva Papers on Risk and Insurance Theory 32 (2007) 1, pp. 1-36
hypothesis by correlating individual overconfidence scores with several measures of trading volume of individual investors … facets of overconfidence (miscalibration, volatility estimates, better than average effect). The measures of trading volume … the calibration literature and model overconfidence as underestimation of the variance of signals. In connection with …
Persistent link: https://www.econbiz.de/10005722868
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Who trades on momentum?
Baltzer, Markus; Jank, Stephan; Smajlbegovic, Esad - 2015
Using a unique data set that contains the complete ownership structure of the German stock market, we study the momentum and contrarian trading of different investor groups. Foreign investors and financial institutions, and especially mutual funds, are momentum traders, whereas private...
Persistent link: https://www.econbiz.de/10010471312
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Who trades on momentum?
Baltzer, Markus; Jank, Stephan; Smajlbegovic, Esad - 2014
Using a unique data set that contains the complete ownership structure of the German stock market, we study the momentum and contrarian trading of different investor groups. Foreign investors and financial institutions, and especially mutual funds, are momentum traders, whereas private...
Persistent link: https://www.econbiz.de/10010471488
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Who trades on momentum?
Baltzer, Markus; Jank, Stephan; Smajlbegovic, Esad - 2015
Using a unique data set that contains the complete ownership structure of the German stock market, we study the momentum and contrarian trading of different investor groups. Foreign investors and financial institutions, and especially mutual funds, are momentum traders, whereas private...
Persistent link: https://www.econbiz.de/10010467770
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Who trades on momentum?
Baltzer, Markus; Jank, Stephan; Smajlbegovic, Esad - 2014
Using a unique data set that contains the complete ownership structure of the German stock market, we study the momentum and contrarian trading of different investor groups. Foreign investors and financial institutions, and especially mutual funds, are momentum traders, whereas private...
Persistent link: https://www.econbiz.de/10010471006