We find individuals are four times more likely to purchase stocks of their local direct utility company as opposed to utility companies operating outside their state of residence. Our tests reveal that individuals do not possess superior or private information about their local utilities....

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'...

Unpaid chairpersons prioritize other stakeholders resulting in shareholder wealth loss. Using a sample of Chinese listed firms from 2005 to 2018, we find that firms who have chairpersons that they do not directly pay, underperform counterparts with paid chairpersons. The results are robust after...

Do entrepreneurs consider the risk of their business equity when making investment portfolio allocations? Many people compartmentalize different risks and consider them separately, called mental accounting. Alternatively, the risk substitution hypothesis suggests that entrepreneurs would offset...

Are you an investor facing an obstacle you dont know how to overcome? Are you ready to invest, but not sure how to reduce your risks? There are two important things you must do to be a savvy investor: make good investment decisions and avoid costly mistakes. As important as good investments are,...

Would you like to be a millionaire? If you're like most people, your answer is "yes". But unlike popular opinion, this goal is not beyond your reach. Building wealth is more common sense than secret formula. You need to invest wisely. This easy-to-read guide focuses on traditional investments -...

Purpose – The purpose of this paper is to explore some commonly held beliefs about individuals investing in over-the-counter (OTC) stocks (those traded on Over-the-counter Bulletin Board (OTCBB) and Pink Sheets), a fairly pervasive activity. The authors frame the analysis within the context of...

Purpose – The authors 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...