We analyze the influence of individuals' degree of extraversion and neuroticism on the determinants of their risk-taking behavior in investment decisions. As there are no studies that investigate the influence of personality traits on risk attitude, risk perception, and return expectations in...

Football companies (equivalent to professional sport teams) are increasingly challenged with raising capital. However, future athletic success is highly uncertain and associated cash flows are difficult to predict which makes it difficult to attract investors. An alternative financing instrument...

We examine the relation between households' wealth and relative risk aversion (RRA) in two different frameworks: the Behavioral Portfolio Theory (BPT) and Merton's (1969) consumption and portfolio choice model (CPCM). We apply the BPT to field data for the first time and show that the BPT...

Ecologically and socially responsible financial products and services are receiving considerable attention in the context of investment management and also in the public debate. While many financial service providers claim to offer ecologically and/or socially responsible financial products...

This study analyzes investors' perception of placebic information and its impact on stock price estimates. We initiate a questionnaire-based stock price forecast competition among 196 undergraduate students in business administration. We show that placebic information increases the perceived...

We examine the relation between households’ wealth and relative risk aversion (RRA) in two different frameworks: the Behavioral Portfolio Theory (BPT) and Merton’s consumption and portfolio choice model (CPCM). We apply the BPT to field data for the first time and show that the BPT provides...

This study analyzes investors’ perception of different amounts of information and its impact on stock price estimates. We initiate a questionnaire-based stock price forecast competition among 196 undergraduate students in business administration. We show that providing more information...