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Yuan, Peixuan - 2020

I discover that investors' preferences for gambling mainly involve stocks that have performed poorly in the past three …

Persistent link: https://www.econbiz.de/10012830489

Salience and the Disposition Effect : Evidence from the Introduction of 'Cash-Outs' in Betting Markets

Brown, Alasdair - 2016

The disposition effect describes the tendency of investors to sell assets that have increased in value since purchase, and hold those that have not. We analyse the introduction of betting market `Cash-Outs', which provide a continual update - and therefore increase the salience - of bettors'...

Persistent link: https://www.econbiz.de/10013003375

Tracking Investor Gambling Intensity

Zhu, Hongbing; yang, lihua - 2023

We provide a simple method to track firm-specific investor gambling intensity based on the publicly available … decision of an investor with gambling preference. We document that investor gambling intensity is strongly persistent and … gambling intensity underperform stocks with low aggregate gambling intensity by approximately 117 basis points over the …

Persistent link: https://www.econbiz.de/10014255158

The Gambling Preference and Stock Price : Evidence from China's Stock Market

Zhu, Hongbing; Zhang, Bing; yang, lihua - 2022

Considering the strong gambling preference of retail investors in emerging markets and using the data of Chinese A …-share listed companies from 2000 to 2018, this paper constructs an index of investor's gambling preference based on the theory of … explicit preference and develops a factor model to capture the risk premium of gambling by introducing gambling factors. The …

Persistent link: https://www.econbiz.de/10013291558

Market efficiency and behavioral biases in the WNBA betting market

Paul, Rodney J.; Weinbach, Andrew P. - In: International Journal of Financial Studies : open … 2 (2014) 2, pp. 193-202

The betting market for the Women's National Basketball Association (WNBA) is a thin financial market, which does not attract much interest from sports bettors. Given these characteristics, it is possible that profitable wagering strategies could exist for informed bettors of the WNBA. Using...

Persistent link: https://www.econbiz.de/10010373269

Are behavioral biases stable across markets and prevalent across individuals? : evidence from individual betting choices

Andrikogiannopoulou, Angie; Papakonstantinou, Filippos - 2014

We use novel data on individual activity in a sports betting market to study the effect of past performance sequences on individual behavior in a real market. The revelation of fundamental values in this market enables us to disentangle whether behavior is caused by sentiment or by superior...

Persistent link: https://www.econbiz.de/10010338735

Investor Composition and Stock Return Patterns : A Study of Momentum in the Chinese A- and B-Shares Markets

Chui, Andy C.W. - 2018

Listed Chinese companies can issue A-shares that are held mainly by domestic investors and B-shares that are held mainly by foreign investors. Although these twin shares have identical cash flow rights and are traded in the same location, A-shares are almost always priced higher than B-shares....

Persistent link: https://www.econbiz.de/10012931318

Out of the Limelight But in Play : Trading and Liquidity of Media and Off-Media Stocks

Fang, Lily H. - 2017

Using hand-collected TV programming data and intra-day trading data from China, we compare the trading, liquidity, and …

Persistent link: https://www.econbiz.de/10012972436

Out of the Limelight But in Play : Trading and Liquidity of Media and Off-Media Stocks

Fang, Lily H. - 2014

Using hand-collected TV programming data and intra-day trading from China, we compare the trading, liquidity, and …

Persistent link: https://www.econbiz.de/10013067069

Stock loan lotteries and individual investor performance

Moore, Jordan - 2017

Individual investors trade excessively, sell winners too soon, and overweight stocks with lottery features and low expected returns. This paper proposes and models a financial innovation, called stock loan lotteries, that improves individual investor performance. An individual investor signs a...

Persistent link: https://www.econbiz.de/10011800598

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