This paper examines the relatively neglected link between dividend policy and institutional ownership. It is also the first example of using well-established dividend payout models to examine the potential association between ownership structures and dividend policy. Moreover, the paper presents...

Signaling theories of the pricing of initial public offerings are based on an equilibrium which separates high from low quality companies. In empirically testing these theories one issue which needs addressing is how to identify high and low quality companies. This paper develops a new test of...

Investors have been shown to have particular preferences when it comes to the characteristics of stock they hold in their portfolios, while prior gains and losses have been shown to impact on individuals' economic decisions, both in an investment context and more widely. This paper is the first...

This paper investigates experimentally the role of emotions in a robust behavioral anomaly, the disposition effect. We manipulate choice and responsibility for subsequent gains and losses, thus influencing the anticipated and experienced emotions at play. Merely experiencing a gain or loss, in...

Despite the compelling evidence on gain-loss-domain-dependent behavior, research on domaindependent portfolio diversification is scarce. We recruited 251 experienced US retail investors to participate in a controlled experiment. Their task was to select portfolios that differ in asset...

As climate variability is increasing, extreme events such as temperature fluctuations are expected to become more frequent. Low- and middle-income countries (LMICs) are especially vulnerable to heat-related variability and its ensuing impacts on mortality. Therefore, there is an urgent need to...

Despite the compelling evidence on gain-loss-domain-dependent behavior, research on domain-dependent portfolio diversification is scarce. In an online experimental study, we recruited 251 experienced US retail investors to select portfolios that differ in asset correlation and risk measures in...