Behavioral Finance, Volume 1Hersh Shefrin Edward Elgar Pub., 2001 - 669 pagine Behavioral finance is the study of how psychology affects financial decision making and financial markets. A valuable resource for both academics and practitioners, this authoritative collection brings together the main works in both psychology and finance, dealing with the debate between proponents of the behavioral school and advocates of the efficient market school. The first volume contains works written by leading psychologists that underlie behavioral finance, focusing on general issues in asset pricing theory, and the studies on over-reaction and under-reaction. The second volume contains key works that develop and extend these themes. Topics include the psychology of prediction, reactions to corporate announcements, the term structure of interest rates, the equity premium, and options prices. The final volume is devoted to the psychology of decisions by individuals, both investors and corporate managers. |
Sommario
Narasimhan Jegadeesh and Sheridan Titman 1993 Returns | 279 |
Josef Lakonishok Andrei Shleifer and Robert W Vishny 1994 | 306 |
Kent Daniel David Hirshleifer and Avanidhar Subrahmanyam | 381 |
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abnormal returns Amos Tversky analysis Andrei Shleifer anomalies arbitrage arbitrageurs asset pricing autocorrelations average returns base rate Bayesian BE/ME behavior behavioral finance beliefs beta bias biases Bondt and Thaler book-to-market buy-and-hold CAPM companies contrarian correlation covariance cumulative DeBondt decile difference dividend earnings effect equation equilibrium estimates event evidence excess returns expected returns factor loadings Fama Fama and French Financial Economics Financial Economics 49 firms formation period growth rates holding period returns hypothesis ICAPM implies information traders investment investors January Jegadeesh Journal of Finance judgments Kahneman Lakonishok market efficiency market value mispricing momentum traders months negative noise traders NYSE overconfidence overreaction P₁ Panel past returns percent performance portfolio formation positive prediction premium probability Psychology regression relative strength risk sample Section Shefrin Shleifer standard deviation statistical stock market stock prices stock returns t-statistic Table Theorem Titman Tobin's q Tversky underreaction variables volatility zero