Proponents claim that economically targeted investments (ETIs) can earn a prevailing risk-adjusted rate of return while also providing an additional economic benefit to the plan participants. This paper discusses the fallacies in the reasoning behind ETIs. In short, the structure that would make...

Social media has reshaped business models, economies, politics, and culture around the world. In this paper, we identified social media stocks from various sectors by using a strict, academic definition and then studied their performance and return characteristics. Multivariate regression...

We examine whether the stronger information content of Chief Financial Officer (CFO) insider trading relative to that of Chief Executive Officers (CEOs) results from a different willingness to exploit the information asymmetry that exists between executives and outside shareholders (scrutiny...

We estimate positive and significant wealth transfers from individuals to institutions following a share repurchase. It appears that institutional investors are informed shareholders that use share repurchases as an opportunity to magnify the effect of their informational advantage over...

In this paper, we examine the relationship between sleep and financial risk taking. The results indicate that individuals who have better sleep display less distortion of probability, are less susceptible to the present bias, and have a lower discounting rate. Specifically, individuals with...

Cover -- Half Title -- Title Page -- Copyright Page -- Dedication -- Table of Contents -- List of illustrations -- 1. Biology and Psychology in Finance -- Nature versus Nurture -- What Can We Learn from the Financial Decisions of Twins? -- Investment of Adoptees and the Human Genome -- Do Men...

Stocks appear to have investor clienteles based on their business practices and products. The variety in expressive benefits each individual receives from owning controversial stocks causes them to modify their portfolio to accommodate their beliefs. We examine the ownership of firms with social...

I describe household behavior in boom and bust economic cycles with a particular focus on the recent financial crisis. The behaviors are motivated by cognitive limitations and psychological bias. In addition, household behavior exacerbates the boom/bust economic cycle. In boom times, households'...