By Zeynep Copur, Zeynep Copur
In an ever-changing economic system, industry experts attempt to discover new how one can assessment the hazards and capability gift of financial ventures by means of assessing the significance of human response in the course of the monetary making plans process.
The Handbook of analysis on Behavioral Finance and funding techniques: determination Making within the monetary Industry provides an interdisciplinary, comparative, and aggressive research of the concept tactics and making plans precious for person and company monetary administration. This e-book is a necessary reference resource for pros, practitioners, and executives operating within the box of finance, in addition to researchers and academicians attracted to an interdisciplinary method of mix monetary administration, sociology, and psychology.
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Extra info for Handbook of Research on Behavioral Finance and Investment Strategies: Decision Making in the Financial Industry
Sample text
Odean (1998b) documents the presence of the disposition effect using market data on 10000 discount brokerage accounts of individual investors. e. e. proportion of loss realized PLR) are taken as measures to calculate the disposition effect. He finds that a majority of investors are reluctant to realize their losses. Grinblatt and Keloharju (2001) find evidence of the disposition effect in the Finnish stock market using a data set of shareholdings and trades of individual and institutional investors between 1994 and 1997.
This theory tries to explain a part of investor behavior that deals with their differential attitude towards risk. In 1990’s and 2000 the efficient market hypothesis was also challenged by various researchers like Andrei Shleifer (2000) and Robert Shiller (2000). Shleifer (2000) provides an alternative approach to study financial markets with the help of behavioral finance. The author acknowledges the fact the in actual financial markets, irrational investors trade against arbitrageurs whose resources are limited by risk aversion, short horizons, and agency problems.
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