Behavioral Economics Commons^™

Investor Behavior In The Midst Of A Global Pandemic, Abigail N. Bates

Honors Projects

Investors partaking in portfolio and asset management through the stock market and other avenues do so with certain reasoning and methods in hand. Each investor may have different interests and risk tolerances that guide their choices for investment. Behavioral finance allows for an in-depth look at an investor’s actions and the influencing psychology behind it. Before this approach was popularized, early studies of finance assumed that investors were always rational in their decision making and put resources only into opportunities that would increase their utility or happiness. The behavioral finance approach takes a more comprehensive look at these behaviors and …

Financial Management Issues Of College-Aged Students: Influences And Consequences, Katharine N. Widener

Selected Honors Theses

College students have acquired a reputation of irresponsibility and impulsivity, which has contributed to the perception that they are poor managers of money. This researcher sought to establish a clearer picture of the full story behind how college students handle their finances through a comprehensive literature review. Several searches were conducted on the topics of college students, finances, money management, debt levels, and other related terms. Scholarly articles were analyzed for common themes and research patterns, and the various strings of research identified were categorized into three main headings: Financial situation, financial influences, and financial consequences. The three major headings …

Essays On International Risk-Return Trade-Off Relations, Liang Meng

Finance Theses & Dissertations

This dissertation consists of two essays on the international risk-return trade-off relations. The first essay is titled “The Role of the US Market on International Risk-Return Trade-Off Relations” and the second essay is titled “The Role of Investor Sentiment on International Risk-Return Trade-Off Relations”.

In our first essay, we study the intertemporal risk-return trade-off relations based on returns from 18 international markets. Our main contribution is that we find the US market plays an important role affecting the international risk-return trade-off. We present striking new empirical evidence that the inclusion of US market variables significantly changes the estimated risk-return trade-off …

Pre-Test Assessment, Thomas D. Berry

Thomas D Berry

Closed End Fund Discounts As Sentiment Indicies, Thomas Berry

Thomas D Berry

No abstract provided.

The Disposition Effect And Individual Investor Decisions: The Role Of Regret And Counterfactual Alternatives, Thomas Berry, Suzanne Fogel

Thomas D Berry

Recent studies have documented a strong tendency for individual investors to delay realizing capital losses, while realizing gains prematurely (Odean [1996], Shefrin and Statman [1985], Weber and Camerer [1996]). This tendency has been termed the “disposition effect.” The disposition effect is inconsistent with normative approaches to stock sales, such as those based on tax losses (see, for example, Constantinides [1983]). We surveyed individual investors, and found that more respondents reported regret about holding on to a losing stock too long than about selling a winning stock too soon. This finding suggests that individual investors are consistently engaging in behavior that …

Private Information And Market Movements: New Evidence From The Wednesday Closings Of 1968, Thomas Berry

Thomas D Berry

No abstract provided.

Public Information Arrival, Thomas Berry, Keith Howe

Thomas D Berry

The authors develop a measure of public information flow to financial markets and use it to document the patterns of information arrival, with an emphasis on the intraday flows. The measure is the number of news releases by Reuter's News Service per unit of time. The authors find that public information arrival is nonconstant, displaying seasonalities and distinct intraday patterns. Next they relate their measure of public information to aggregate measures of intraday market activity. The authors' results suggest a positive, moderate relationship between public information and trading volume but an insignificant relationship with price volatility. Copyright 1994 by American …

A Multi-State Analysis Of The Tjtc, Thomas Berry, Julia Lane

Thomas D Berry

No abstract provided.

Risk-Return And The Relative Pricing Of Darp, Thomas Berry, John Houston

Thomas D Berry

No abstract provided.

Some Guidelines For Assessing The Size Of Lack-Of-Marketability Discounts, Thomas Berry, Don Shannon

Thomas D Berry

No abstract provided.

The Leverage Problem In The Valuation Of Privately Held Firms, Thomas D. Berry, John Houston

Thomas D Berry

No abstract provided.

A Survey Of Introductory Financial Managment Courses, Thomas Berry, Edward Farragher

Thomas D Berry

No abstract provided.

The Relationship Of Corporate Policy Decisions And Financial Leverage: An Empirical Analysis, Thomas Berry, John Houston

Thomas D Berry

No abstract provided.

The Impact Of Federal Tax Changes Of The Cost Of Debt For State And Local Governments, Thomas Berry, Edward Farragher

Thomas D Berry

No abstract provided.

Fnma Mortgage Commitments As Put Options: An Empirical Examination, Thomas Berry, Adam Gehr

Thomas D Berry

The Federal National Mortgage Association (FNMA) auctions commitments to purchase mortgages. An examination of the terms of the commitment contract shows that these commitments are actually put options on mortgages. The contract is unusual, however, in that the price of the commitment is a fixed percentage of the value of the mortgages. In the auction, the dealers effectively bid the exercise price at which they would be willing to pay the fixed commitment price. In this paper, we study the economics of the FNMA auction. We use a two-state approximation to the American put pricing model for interest-dependent securities to …

State Variation In The Targeted Jobs Tax Credit Program, Thomas Berry, Julie Lane

Thomas D Berry

No abstract provided.

A Short-Run Model Of Regional Housing Demand, Thomas Berry

Thomas D Berry

No abstract provided.

Fnma Auction Results As A Forecaster Of Residential Mortgage Yields, Thomas Berry, Adam Gehr

Thomas D Berry

No abstract provided.

An Alternative Methodology For Developing Certainty Equivalents, Thomas Berry, Bill Poppie

Thomas D Berry

No abstract provided.

The Choice Of Money Market Fund, Thomas Berry

Thomas D Berry

No abstract provided.