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...

Global warming remains one of the greatest threats to the sustainability of the planet. The literature is replete with studies investigating the economic effects of global warming with very little attention being paid to the financial ramifications. To this end, the present study attempts to...

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...

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...

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...

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...

This paper examines the relationship between traditional gold (XAU) and its tokenized counterparts (PAXG and XAUT), providing an empirical assessment of how digital representations of real-world assets align with their underlying benchmarks. Using multi-year time series data, the study evaluates...

Pairs trading has been a successful tool for traders since its inception in the 1980s and has evolved significantly with the introduction of algorithmic, machine, and AI trading. This evolution has compli­cated the implementation of this strategy that traditionally benefits institutional or...

The purpose of this study is to explore whether ESG (Environmental, Social, and Governance) criteria can serve as a valuable tool for investors when making rational decisions about financial security selection and portfolio construction. By applying Modern and Post-Modern portfolio theories (MPT...

Investment loss tolerance refers to an investor's willingness to hold financial instruments after experiencing value declines and is considered essential to long-term investment success. Financial literacy, comprising financial knowledge, attitude, and behavior, has been widely identified as a...

Objective:The article examines how strong the sell-off on the capital market in the United States must be to cause above-average, positive rates of return on the gold investment market. The durability of such above-average gains in the gold market was also assessed.Research Design & Methods: The...

The analysis carried out in this work shows that sustainable investment decisions aimed at SDG 7 are mainly driven by objective financial attributes, especially the level of risk and the type of providing institution. The empirical analysis is based on 873 valid responses, balanced by gender and...

The association between emotions and decision-making is evident. Our article aims to demonstrate, for individual investors, the development of negative emotional charges on stock markets in a perceived negative trend. The research question concerns how negative emotions may be associated with...

This paper examines the dependence, systemic risk spillover, return and volatility spillover, and portfolio implications across various timescales between the Green Bond (GB) and U.S. S&P 500 Stock (SP), Vanguard Total World Stock Index Fund (VT), Bitcoin (BTC), Ethereum (ETH), Ripple, OIL, and...

This study investigates the influence of FOMO, loss aversion, and herd behavior on gold investment decisions in the Vietnamese market. Employing data collected from 727 investors and the Partial Least Squares Structural Equation Modeling (PLS-SEM) method, the analysis results confirm the pivotal...

Understanding generational differences in herding behavior is crucial for policymakers, financial educators, and market regulators, particularly in emerging markets where retail investor participation is rapidly growing. This study investigates the influence of herding behavior on investment...

Diverse decisions and behavior of investors in stock markets under unforeseeable situations of the COVID-19 pandemic were influenced by environmental and psychological factors. This study aimed to identify the factors affecting individual investor decisions through a systematic review with a...

Although momentum strategies result in abnormal profitability, thereby challenging the efficient market hypothesis (EMH), concerns persist regarding their reliability due to their significant volatility and susceptibility to substantial losses. In this study, we investigate the limitations of...

This study evaluates the long-term financial outcomes of Roth and traditional IRAs, with their different tax advantages. Global applicability to countries with similar types of retirement plans is emphasized. A full factorial simulation assessed 54 unique combinations of IRA type, investment...

Do financial advisors recommend cryptocurrency investment within a household portfolio? Cryptocurrencies have emerged in popularity as households seek to maximize returns. Financial advisors are expected to provide beneficial advice for a household in managing financial decisions including...

Guidelines for Investing PRG, RS, PRG-HIPC, and CCR Trusts' Assets (the "Guidelines"), were adopted on April 13, 2022 in the context of the Board's consideration of the Proposal to Establish a Resilience and Sustainability Trust ("RST", see Attachment C) to establish the investment objectives...

This paper analyzes the impact of disclosures of sustainable investment targets under the EU Sustainable Finance Disclosure Regulation (SFDR) on mutual fund flows. Using a staggered difference-in-differences setup and focusing on retail-oriented index funds, we find that sustainable investment...

The development of stock markets is pivotal for economic growth, particularly through the mobilization of idle resources into productive investments. Despite recent reforms to enhance Uzbekistan's capital market, public engagement remains limited. This study examines the behavioral determinants...

We revisit the puzzle of limited stock market participation using qualitative methods common in other social sciences but rare in economics. Through in-depth interviews with investors and non-investors in Germany—a high-income country with low market participation—we elicit open-ended...

Extreme weather events are the primary driver of environmental, social, and governance (ESG) responsible investment or sustainable stocks, which are gaining popularity worldwide, including in Thailand. Nevertheless, the function of sustainable stocks remains an academic dispute and without...