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Finance and Financial Management Commons™
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- Derivatives markets (1)
- Disposition effect (1)
- E&S scores (1)
- ESG Investing (1)
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- ESG Rating Divergence (1)
- ESG Ratings (1)
- ESG Score Rewritings (1)
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Articles 1 - 3 of 3
Full-Text Articles in Finance and Financial Management
Esg Ratings Rewriting Or Recalibration?, Chengshuang Zhang
Esg Ratings Rewriting Or Recalibration?, Chengshuang Zhang
Dissertations and Theses Collection (Open Access)
ESG ratings are the nexus of sustainable development. Are ongoing retroactive adjustments of ESG scores rewriting or recalibration? Using datasets from 20 random weeks of downloads of Refinitiv ESG universe between 7 October 2021 to 14 December 2022, we find that the positive link between ESG scores or E&S scores to firms’ stock returns existed between 2011 to 2017, disappeared between 2002 to 2011 and attenuated between 2017 to 2021. Using the formation of the International Sustainability Standard Board on 3rd November 2021 as the external shock event, we further find that the retroactive ESG score adjustments are not …
The Effects Of Prior Trading Performance Have On Risk-Taking Of Subsequent Trading – The House Money Effect, Lenz Tan Koon Bin
The Effects Of Prior Trading Performance Have On Risk-Taking Of Subsequent Trading – The House Money Effect, Lenz Tan Koon Bin
Dissertations and Theses Collection (Open Access)
This study tests for house money effect on 2,030 non-professional FX investors trading through an Australian Financial Service provider. The results indicate that, in general, investors display a positive relationship between prior gains and the change in subsequent weekly risk-taking - the house money effect. The results also suggest that astute investors display a stronger house money effect than mediocre investors following prior gains. In comparison, mediocre investors display a stronger disposition effect following prior losses than astute investors. The study further reveals that investors who initially demonstrated the house money effect became more prone to the disposition effect during …
Investment Decisions And Trading Behavior Of Institutional And Retail Investors, Antonia Kirilova
Investment Decisions And Trading Behavior Of Institutional And Retail Investors, Antonia Kirilova
Dissertations and Theses Collection (Open Access)
This dissertation consists of three studies in the areas of empirical asset pricing, market microstructure, and behavioral finance. I study the trading behavior and portfolio choices of institutions and retail investors in the equity and derivatives markets. Examining the ways in which different market participants make investment decisions allows us to understand their role in shaping financial market dynamics. This is important in order to know how to structure markets for enhanced market efficiency, and to protect less sophisticated investors through better policies and regulations. Although there is a considerable amount of literature disputing the ability of retail investors and …