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Identity, Overconfidence, and Investment Decisions
D'Acunto, Francesco - 2015
Why are men more risk tolerant than women, and why do they invest more than women? I test whether identity stereotypes help explain this heterogeneity. I manipulate identity in a controlled environment by priming its salience to subjects. Men whose identity is primed take on more risk, and...
Persistent link: https://www.econbiz.de/10013017993
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Low-beta investment strategies
Korn, Olaf; Kuntz, Laura-Chloé - 2015 - This version: September 2015
This paper investigates investment strategies that exploit the low-beta anomaly. Although the notion of buying low-beta stocks and selling high-beta stocks is natural, a choice is necessary with respect to the relative weighting of high-beta stocks and low-beta stocks in the investment...
Persistent link: https://www.econbiz.de/10011412647
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Do Investors Buy What They Know? Product Market Choices and Investment Decisions
Keloharju, Matti - 2014
-based natural experiment supports a causal interpretation of our results. We find weaker causality in the other direction …
Persistent link: https://www.econbiz.de/10013069336
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Investment Horizon and the Attractiveness of Investment Strategies : A Behavioral Approach
Dierkes, Maik - 2010
Theory cannot explain the attractiveness of empirically observed strategies, we apply a behavioral approach instead. In … particular, we assess attractiveness from the viewpoint of an investor with preferences described by Cumulative Prospect Theory … (CPT), currently the most prominent descriptive theory for decision making under uncertainty. A bootstrap technique is …
Persistent link: https://www.econbiz.de/10013150953
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Social Status and Risk-Taking in Investment Decisions
Lindner, Florian - 2019
A pervasive feature in the finance industry is relative performance, which can include extrinsic (money), intrinsic (self-image), and reputational (status) motives. In this paper, we model a portfolio decision with two assets and investigate how reputational motives (i.e., the public...
Persistent link: https://www.econbiz.de/10012871244
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Capital Commitment and Investment Decisions : The Role of Mutual Fund Charges
Gomez, Juan-Pedro - 2020
Many investors purchase open-end mutual funds through intermediaries, paying brokers and financial advisors for fund distribution and advice via alternative sale charge fee structures. We argue that the fee structure choice reveals valuable information about investors horizon. That allows...
Persistent link: https://www.econbiz.de/10012849867
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Belief Updating and Investment Decisions : The Impact of Good or Bad News Varies With Prior Returns
Trutmann, Kevin; Heinke, Steve; Rieskamp, Jörg - 2022
model unifying these empirical findings. In a preregistered experiment we show that the model captures investors' belief …
Persistent link: https://www.econbiz.de/10013491946
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The Rise of Factor Investing : "Passive" Security Design and Market Implications
Cong, Lin William; Huang, Shiyang; Xu, Douglas - National Bureau of Economic Research - 2024
We model financial innovations such as Exchange-Traded Funds, smart beta products, and many index-based vehicles as composite securities (CSs) that facilitate trading the common factors in assets' liquidation values. Through accessing a larger basket of assets in endogenously chosen proportions,...
Persistent link: https://www.econbiz.de/10014468216
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Investment decisions and negative interest rates
Bracha, Anat - 2016 - This version: November 2016
-year government bond and deposit rates are positive. Insights from Prospect Theory suggest that this situation may lead to … environment considered in Prospect Theory and subsequent literature, since decisions are framed in terms of rates of return rather …
Persistent link: https://www.econbiz.de/10011602477
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Investigation of gender differences in familiar portfolio choice
Maknickienė, Nijolė; Rapkevičiūtė, Lina - In: Journal of business economics and management 23 (2022) 3, pp. 690-705
The prevailing assumption holds that investors include in their portfolios securities that they know well, are located near their place of residence, or align with their fields of interest. This article analyse familiarity in investment through gender perspective and their fields of interest....
Persistent link: https://www.econbiz.de/10013259299