Search Results - subject_exact:"Behavioural finance"

Emergence and evolution of financial economics

Šlampiaková, Lea - 2025

This paper aims to deliver a comprehensive analysis of the theories and concepts that have formed the foundational link between two separate academic fields: finance and economics, resulting in the emergent field of financial economics. The main schools of thought can be divided, with a...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015418664

Buy now, spend more, pay later: behavioural mechanisms of buy now pay later products

Jose, Anu; Kelly, Jane; King, Michael; McCarthy, Yvonne - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015466859

Social media, traditional news and stock returns : a causal mediation analysis

Nyakurukwa, Kingstone; Seetharam, Yudhvir - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015455156

Risk in financial decision-making : a conceptual framework for investors and corporate managers

Hrytsiv, Kateryna; Kartašova, Jekaterina - 2025

This paper explores the multifaceted nature of risk in financial decision-making by integrating traditional finance models with insights from behavioural finance. It assesses the application of models such as the Capital Asset Pricing Model (CAPM), Weighted Average Cost of Capital (WACC), and...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015556216

Hidden consequences of consumer protection on the financial market : regulation-introduced bias

Šindelář, Jiří; Budinský, Petr - 2024

This paper deals with the problem of how the risk perception among retail customers is affected by the consumer protection regulation on the financial market. Through a questionnaire survey, we have measured the effect of selected consumer protection measures on banking or investment decisions...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015054101

Exploring the nexus of capital market and investor behaviour : a systematic literature review

Gokhale, Gautam Milind; Mittal, Ankur - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014583828

Sentiment and stock characteristics : comprehensive study of individual investor influence on returns, volatility, and trading volumes

Kresta, Aleš; Xiong, Jialei; Maidiya, Bahate - 2024

Background Traditional asset pricing models face challenges from financial anomalies, prompting exploration through behavioural finance theory. This study analyses the nuanced relationship between individual investor sentiment and key stock market variables. Objectives To assess the impact of...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015108409

A bibliometric analysis of research in behavioural finance : special emphasis on selected behavioural biases in investment decision making

Das, Poonam; Das, Amit Kumar; Acharjee, Sourav - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015210699

Investor sentiment and Euro area ETFs : an empirical analysis of consumer behaviour

Dziuba, Pavlo; Hrysenko, Maryna; Shtogrin, Kyryl - 2024

The goal of this article is to study the relationship between investor sentiment and Euro area Exchange Traded Funds (ETFs), providing insights into the dynamics of market behaviour and the impact of consumer behaviour on investment patterns within the Eurozone. This paper has employed panel...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015338889

Dutch auction dynamics in non-fungible token (NFT) markets

Shannon, Darren; Dowling, Michael; Zhaf, Marjan; … - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015192270

Fear divides, not unites : volatility transmission and decoupling between cryptocurrency and renewable energy markets

Al-Harbi, Ahmad - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015616819

When long-run trends are unknown : bond pricing implications

Ahonon, Borel; Roussellet, Guillaume - 2026

We propose a macro-finance model in which inflation, growth, and the policy rate are driven by unobservable long-run trends and transitory cycles that investors must infer from aggregate data. Their subjective estimates of these trends, and the uncertainty surrounding them, are priced into the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015618078

The equity market implications of the retail investment boom

Beck, Philippe van der; Cohen, Cameron; Jaunin, Coralie - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015618239

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The equity market implications of the retail investment boom

Beck, Philippe van der; Jaunin, Coralie - 2021

Book / Working Paper

Do CEO power and narcissism increase or reduce the attraction of socially responsible investing?

Ramon-Llorens, M. Camino; Martínez-Ferrero, Jennifer; … - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015618399

Green bond market performance : does investor sentiment contagion matter?

Le Thuy Duong Ha; Hoque, Ariful; Le, Thi - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015618423

A model of consumption with mental accounting and heterogeneous agents

Gimeno-Ribes, Jaime - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015655481

Victim and online financial scams : understanding heterogeneity in susceptibility to online financial scams

Nattanicha Chairassamee; Kanokwan Chancharoenchai; … - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015561462

Overconfidence, knowledge of the retirement income system, and retirement planning

D'Astous, Philippe; Glenzer, Franca - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015609287

Investment with new sentiment analysis in Japanese stock market : expert knowledge can still outperform ChatGPT

Lin, Zhenwei; Nakano, Masafumi; Takahashi, Akihiko - 2026 - This version: March 4, 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015610056

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Investment with new sentiment analysis in Japanese stock market : expert knowledge can still outperform ChatGPT

Lin, Zhenwei; Nakano, Masafumi; Takahashi, Akihiko - 2025 - This version: March 27, 2025

Edition: This version: March 27, 2025

Book / Working Paper

Investment with new sentiment analysis in Japanese stock market : expert knowledge can still outperform ChatGPT

Lin, Zhenwei; Nakano, Masafumi; Takahashi, Akihiko - 2025 - This version: April 25, 2025

Edition: This version: April 25, 2025

Book / Working Paper

The relationship between psychological factors and retirement financial plan and its gender difference

Ren, Han; Lim, Thien Sang - 2026

As China's population ages and the sustainability of the public pension system is at risk, personal savings become crucial. As such, the quality of financial planning for retirement (FPR) has been recognized as a key to safeguarding financial well-being during retirement. This study examines the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015611325

Investment information sources and investment grip : evidence from Japanese retail investors

Yamaguchi, Manaka; Ogura, Kota; Kiba, Tomoka; Khan, … - 2026

Understanding how investors maintain positions during adverse market conditions, investment grip, is increasingly important as retail participation rises and information environments diversify. While prior research identifies demographic, psychological, and economic determinants of investment...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015611407

Passive investors and loan spreads

Adler, Konrad; Dörr, Sebastian; Zhu, Xingyu - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015613790

No gender diversity or union collaborations, please! : the contrasting darker view of CSR regarding ESG preferences among retail investors

Isaksson, Lars E.; Hasso, Tim; Mathews, Shane - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015614001

Institutional reform and depositors' portfolio choice evidence from bank account data

Berlemann, Michael; Luik, Marc-André - 2026

In this paper we employ the natural experiment of German Division and Reunification in order to study the effect of institutional reform on the decision to hold risky assets. We present empirical evidence indicating that even 16 years after German Reunification risky portfolios of East and West...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015614062

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Institutional reform and depositors' portfolio choice : evidence from bank account data

Berlemann, Michael; Luik, Marc-André - 2016

Book / Working Paper

Coarse categories in a complex world

Graeber, Thomas; Roth, Christopher; Sammon, Marco - 2026

Most news stories contain both granular quantitative information and coarse categorizations. For instance, company earnings are reported as a dollar figure alongside categorizations, such as whether earnings beat or missed market expectations. We formalize and study the hypothesis that when a...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015614363

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Coarse categories in a complex world

Graeber, Thomas; Roth, Christopher; Sammon, Marco - 2025

Book / Working Paper

Coarse categories in a complex world

Graeber, Thomas; Roth, Christopher; Sammon, Marco - 2025

Book / Working Paper

Green investment : examining the influencing factors and mechanisms on the investment willingness of China retail investors towards green bonds

Tao, Zhibin - 2026

As global climate and sustainable challenges gain more attention, green finance has emerged as a significant focus of worldwide financial reform, with green bonds serving as a key indicator. Retail investors, as an important part of the financial market, have a significant impact on the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015614367

Regulating ESG disclosure : capital allocation and investor heterogeneity

Emiris, Marina; Harris, Joanna; Koulischer, François - 2026

We study how sustainability disclosure regulation affects mutual fund flows and portfolio choices, accounting for investor heterogeneity. Guided by a model of ESG investing under uncertainty, we exploit the introduction of the European Sustainable Finance Disclosure Regulation (SFDR) as a...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015614830

How framing susceptibility is associated with investment grip : evidence from Japanese retail investors

Otchere-Appiah, Gideon; Kuramoto, Yu; Bawalle, Aliyu Ali; … - 2026

This study builds on the concept of loss tolerance by introducing investment grip, a behavioral interpretation that captures investors' commitment to long-term objectives under adverse market conditions. While loss tolerance traditionally measures the maximum financial loss an investor can...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015615249

Investing outside the box : fluctuating styles of actively managed funds

Bai, Ting; Hilscher, Jens; Scherbina, Anna - 2026

Managers of actively managed funds do not maintain a constant investment style. Instead, their factor loadings change over time. These changes are especially large following quarters with extreme returns and fund flows and arise from both active portfolio reallocations and passive style drift....

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015615830

Examining green finance resilience during the COVID-19 pandemic

Staunton, David; Corbet, Shaen - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015616640

The role of investor composition in sovereign bond pricing : evidence from an emerging market

Botero-Ramírez, Oscar - 2026

This paper quantifies how demand and supply shocks transmit to yields in Colombia's sovereign bond market by estimating investor-level demand elasticities and translating them into equilibrium price effects. Using investor-security microdata and two complementary identification strategies, I...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015592495

What Attracts Investors to Distressed Asset Markets? Key Pillars for Private Investors to Participate in Market Development

Mueller, Marta; Dancausa, Fernando - 2026

This WBG study examines what makes distressed asset markets work — and how governments can create the right conditions for private sector engagement. It provides policymakers, regulators, and financial institutions with a practical framework to assess market readiness, identify policy and...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015597424

Extrapolators and contrarians : forecast bias and individual investor stock trading

Andersen, Steffen; Dimmock, Stephen G.; Nielsen, Kasper M. - 2026

We test whether forecast bias affects individual investors' stock trading by combining bias measures from laboratory experiments with administrative trade data. Forecast bias is positively associated with past excess returns of purchased stocks: Compared to contrarians, extrapolators purchase...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015588367

Underconfidence and the low-experimentation trap

Tyack, Nicholas; Arouna, Aminou; Dembélé, Urbain; … - 2026

We study how confidence bias affects investment in learning via experimentation, a mechanism critical for technology adoption under uncertainty. We hypothesize that bias direction and strength predict how willingness to experiment diverges from unbiased agents. We measure revealed and stated...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015589551

A momentum-based normalization framework for generating profitable analyst sentiment signals

McCarthy, Shawn; Alaghband, Gita - 2026

The diverse rating scales used by brokerage firms pose significant challenges for aggregating analyst recommendations in financial research. We develop a momentum-based normalization framework that transforms heterogeneous rating changes into standardized sentiment signals using firm-relative,...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015591134

The Financial Lobster Bias

Reyes Marín, Óscar De los; Paz Gil, Iria; … - 2026

The Financial Lobster Bias describes how SMEs, driven by distorted liquidity perceptions, engage in aggressive expansion until financial breakdown occurs. Using data from 10,412 Spanish SMEs (2000-2024), this study shows that liquidity misperception-measured through two versions of the Liquidity...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015591400

Prospect theory in the field : revealed preferences from mutual fund flows

Han, Bing; Sui, Pengfei; Yang, Wenhao - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015580459

Designing of an investment trust : theoretical foundations

Takata, Fujio - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015604924

Machine learning mutual fund flows

Fausch, Jürg; Frigg, Moreno; Ruenzi, Stefan; Weigert, … - 2026 - This draft: May 03, 2025

We present improved out-of-sample predictability of future fund flows using state-of-the-art machine learning methods. Nonlinear machine learning models significantly outperform linear models in terms of out-of-sample R-squared. Using interpretable ML methods, we identify past flows and the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015605608

Greenhouse gas emissions effect on investor economic decisions : unravelling the nexus between corporate sustainability performance and investor share ownership appetite

Siwela, Witness; Mchavi, Nyiko D.; Modisane, Cameron - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015620634

Empirical analysis of the dogs of the dow trading strategy : Polish evidence

Ziarko-Siwek, Urszula - 2026

This study examines how effective the Dogs of the Dow (DoD) investment strategy, popular in the USA, was for the Polish blue-chip stock market between 2002-2023. This strategy involves investing the same amount of funds each year in shares of ten companies called Dogs of Dow with the highest...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015625934

The influence of social media emotions : evidence from the Kodak manic episode

Cioroianu, Iulia; Conlon, Thomas; Corbet, Shaen; … - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015626617

Effects of price path shapes and decision frames on emotions and investment decisions : experimental evidence

Cordes, Henning; Decke, Philipp; Nolte, Sven; … - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015626639

Beliefs about the climate impact of green investing

Heeb, Florian; Kölbel, Julian; Weder, Camilla - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015626684

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Beliefs about the climate impact of green investing

Heeb, Florian; Kölbel, Julian; Weder, Camilla - 2025

Book / Working Paper

Safety switches : the macroeconomic consequences of time-varying asset safety

Foschi, Andrea - 2026

I develop a model-based definition of time-varying sovereign bond safety, and apply it empirically by constructing a news-based index, the FLY, that measures global safe-assets demand. The FLY captures flight-to-safety episodes, the savings glut, and natural interest rate declines. Estimated FLY...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015626787

Global attention and market resilience : evidence from the Gaza conflict and Israeli financial assets

Papanikolaou, Nikolaos; Vasileiou, Evangelos; Pantos, … - 2026

This study investigates how the origin and language of public attention influence financial markets during geopolitical conflict, using Israel's experience during the 2023-2025 Gaza War as a case study. We use Google Trends data-in Hebrew, English, and Arabic, sourced both worldwide and...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015628424

Capturing short- and long-term temporal dependencies using Bahdanau-enhanced fused attention model for financial data : an explainable AI approach

Khansama, Rasmi Ranjan; Priyadarshini, Rojalina; Nanda, … - 2026

Prediction of stock closing price plays a critical role in financial planning, risk management, and informed investment decision-making. In this study, we propose a novel model that synergistically amalgamates Bidirectional GRU (BiGRU) with three complementary attention techniques-Top-k Sparse,...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015628752

Equity crowdfunding success in Malaysia : the role of crowd investors, campaign disclosure and valuation disclosure

Lo, Jun Heng; You, Hui Wei; Usman, Sardar Muhammad; … - 2026

This study examines the determinants of equity crowdfunding (ECF) campaign success in Malaysia through the lens of quality signaling theory and behavioral herding dynamics. Using a manually collected dataset of 335 completed campaigns launched on pitchIN, MyStartr, and AtaPlus between 2016 and...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015628757

Local information demand and the cross-section of stock returns

Chu, Gang; Goodell, John W.; Li, Xiao - 2026

Using internet search data, we examine how geographic proximity shapes individual investors' information acquisition behavior. Focusing on the Chinese stock market, we document a pronounced local bias in information demand: individual investors search more intensively for stocks of firms...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015637550

Hedging against inflation : international evidence on investor clientele effects

Boermans, Martijn; Swinkels, Laurens - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015638014