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Boom and Gloom
Kosova, Renata - 2014
consistent with information-based herding explanations …
Persistent link: https://www.econbiz.de/10013064274
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Boom and Gloom
Povel, Paul - 2015
consistent with information-based herding explanations …
Persistent link: https://www.econbiz.de/10013020900
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Value at risk with informed traders, herding, and the optimal structure of trading divisions
Burghof, Hans-Peter; Dresel, Tanja - 2002
and ex post-perspective and identify systemic risks from neoclassical negligence of informational herding …
Persistent link: https://www.econbiz.de/10012716588
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Herd Behavior and Cascading in Capital Markets : A Review and Synthesis
Hirshleifer, David A.; Teoh, Siew Hong - 2023
parties to engage in herding or cascading, and the incentives for parties to guard against or take advantage of herding or …
Persistent link: https://www.econbiz.de/10014254252
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Herding dynamics in exchange groups: Evidence from Euronext
Economou, Fotini; Gavriilidis, Konstantinos; Goyal, Abhinav - In: Journal of International Financial Markets, … 34 (2015) C, pp. 228-244
This study investigates in the context of the Euronext, whether joining an exchange group affects herding in the group … of the group's member-markets and the outbreak of financial crises. We find that herding is significant post-merger in … all four constituent equity markets (Belgium, France, the Netherlands and Portugal) of the Euronext, with herding in …
Persistent link: https://www.econbiz.de/10011189487
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Managerial optimism and the impact of cash flow sensitivity on corporate investment : the case of Greece
Maditinos, Dimitrios I.; Tsinani, Alexandra V.; … - In: International journal of business and economic sciences … 8 (2015) 2, pp. 35-54
Purpose-The existence of optimism as a personal psychological characteristic of managers is a necessity in contemporary economy and decision making, although the phenomenon of over-optimism may lead to unfavourable outcomes. The purpose of this study is to examine the optimism bias and its...
Persistent link: https://www.econbiz.de/10011433979
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Employment, Corporate Investment and Cash Flow Uncertainty
Bhagat, Sanjai - 2013
The effect of uncertainty on equilibrium wage rates causes uncertainty to have a negative impact on marginal q. In turn, uncertainty reduces corporate investment and employment. Using a novel firm-level measure of cash flow uncertainty, we find empirically that uncertainty has a strong negative...
Persistent link: https://www.econbiz.de/10013092449
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Heterogeneous effect of uncertainty on corporate investment : evidence from listed firms in the Republic of Korea
Kim, Cheonkoo; Park, Jungsoo; Park, Donghyun; Tian, Shu - 2022
In this paper, we analyze the effect of financial uncertainty on corporate investment using firm-level panel data from the Republic of Korea. We find that financial uncertainty has a significant negative effect on corporate investment, and that the effect is heterogeneous across firms of...
Persistent link: https://www.econbiz.de/10012820828
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Flow-Induced Trading Pressure and Corporate Investment
Lou, Xiaoxia - 2016
The impact of liquidity-motivated institutional trading on firms' real decisions is not confined to periods of financial crises. Firms subject to mutual fund flow-driven selling pressure reduce share issuance and investment, whereas firms experiencing buying pressure do not increase investment,...
Persistent link: https://www.econbiz.de/10013007844
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Strategic learning and corporate investment
Décaire, Paul H.; Wittry, Michael D. - 2022
Using detailed project-level data, we document a novel mechanism through which information externalities distort investment. Firms anticipate information spillover from peers’ investment decisions and delay project exercise to learn from their peers’ outcomes. To establish a causal...
Persistent link: https://www.econbiz.de/10012816427