Neoclassical finance, behavioral finance and noise traders: A review and assessment of the literature

Ramiah, Vikash; Xu, Xiaoming; Moosa, Imad A.

doi:10.1016/j.irfa.2015.05.021

Cited by 91 publications

(55 citation statements)

References 182 publications

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“…They cover such topics as the applications of modern financial econometrics methods (Chang et al, 2013), behavioral finance (Nawrocki and Viole, 2014;Ramiah et al, 2015), bond markets (Larsson, 2013), volatility indexes (Claessens and Yurtoglu, 2013), credit spreads (Guo, 2013) and financial risk management and economic policy uncertainty (Hammoudeh and McAleer, 2015), among others. However, these papers tend to be general and, more importantly for our purposes, do not focus on emerging markets or sometimes they cover only one country.…”

Section: Introductionmentioning

confidence: 99%

Investor response to public news, sentiment and institutional trading in emerging markets: A review

Brzeszczyński

Gajdka

Kutan

2015

International Review of Economics & Finance

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This paper reviews the literature on investor reaction and sentiment with respect to public information arrival in emerging markets and discusses the implications of the findings for the validity of theoretical models emphasizing public information arrival as the main mover of asset prices. We cover three types of public information news: monetary policy announcements, the International Monetary Fund (IMF) related news and other public and political news. In addition, we review the literature on sentiment and institutional trading in emerging markets. We summarize general findings and suggest some directions for further research.

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Section: Introductionmentioning

confidence: 99%

Investor response to public news, sentiment and institutional trading in emerging markets: A review

Brzeszczyński

Gajdka

Kutan

2015

International Review of Economics & Finance

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“…Ou seja, enquanto nas finanças tradicionais as pessoas são vistas como racionais, nas finanças comportamentais, elas são vistas como são na verdade, suspeitas de cometerem erros cognitivos nas avaliações que fazem (Ramiah, Xu, & Moosa, 2015).…”

Section: A Ancoragem E a Sua Aplicação Nas Diferentes áReasunclassified

Reciclagem Com Incentivo Económico E a Heurística Da Ancoragem

Fernandes¹,

Fernandes²

2017

AeR

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ii Esta página foi intencionalmente deixada em brancoiii DedicatóriaAos meus pais, Graça e Carlos. . iv Esta página foi intencionalmente deixada em brancov Agradecimentos Disse José de Alencar "O poder nasce do querer. Sempre que o homem aplicar a veemência e perseverante energia da sua alma a um fim, vencerá os obstáculos, e, se não atingir o alvo fará, pelo menos, coisas admiráveis". Neste caminho não estive só e é por isso que agradeço, em primeiro lugar aos meus pais, Graça e Carlos por me ensinarem lutar pelos sonhos mesmo quando mais ninguém acreditar. Por me mostrarem que a nossa coragem, garra e luta pode vencer tudo, até prognósticos médicos traçados.À Doutora Eduarda Fernandes, autora do tema, para a qual não consigo ter palavras para agradecer toda a ajuda, orientação, as palavras nos momentos mais difíceis, a ínfima paciência e compreensão. Trago-a genuinamente no meu coração.Agradeço à Doutora Lígia Febra, orientadora do mestrado, por não me ter deixado desistir e pelo sorriso que sempre recebi.À Doutora Alexandra Seco pelo apoio na parte estatística deste trabalho e à Técnica de Gestão do IPL, Sra. Tatiana Santos pela preciosa ajuda na construção dos questionários.Às minhas irmãs, Ângela e Teresa agradeço a ajuda e a paciência.Ao meu grande amigo André, pelas ínfimas horas de apoio que me deu e por todas as vezes que me lembrou que eu era capaz.À Sandra, por me ter ouvido chorar a exaustão nos primeiros dias de aulas do mestrado conciliado com o trabalho e por toda a amizade e carinho. À Patrícia, a minha parceira do mestrado, por todos os sorrisos que me despertou nos momentos de desânimo, pela amizade e pelo incrível empenho na distribuição de questionários.Ao Jimmy, por todo o carinho, compreensão e força num dos momentos mais duros deste processo. AbstractThis study was carried out under de Master in Management and aimed to verify the existence of an anchoring effect in the determination of an economic incentive for recycling, using for this purpose three different questionnaires, which sought to obtain from people inquired, the values that they would need to receive to always do recycling in their daily lives.Considering the current discussion in Portugal about the need to implement economic instruments to improve waste management performance (Assembleia da República, 2013), the correct setting of the incentive value assumes a particular importance.This study examined the impact of using a high and a low anchor for three distinct types of materials: plastic, glass and paper. These anchors were calculated based on responses to a first survey called the calibration group.In the high anchor situation, the value that people needed to receive to always recycling got an anchor index to the material glass, which stood out when compared with the same index in relation to plastic and paper.In what concerns the lower anchor, the results were much more striking. Highlighted, it was also the material glass, although the results related to the other materials, plastic and paper, have also been very clear....

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“…Finance as a discipline has evolved over the years and can be classified under three schools of thought: (Haugen, 1999;Ramiah et al, 2015) a) Old finance (where the major focus was on focused on analysis of financial statements including nature of financial claims made). b) Modern finance (where the major focus is on asset pricing and valuations on the basis of rational economic behavior of the participants).…”

Section: Literature Reviewmentioning

confidence: 99%

“…Islamoğlu et al (2015) in their study investigated the factors which influenced individual investor's behavior by using data from bankers of Bartın and found that Income, Awareness, Information update, religion and society, banking and payment and investments in other asset classes played a major role in influencing individual investor's behavior. Ramiah et al (2015) in their study reviewed literature on behavior of noise traders and analyzed the consequences of their existence in the market and identified how noise trading could be related to certain market fundamentals. In our study we investigate the factors which influence and affect retail investor's trading behavior in Indian equity market.…”

Section: Literature Reviewmentioning

confidence: 99%

Factors Influencing Retail Investor’s Trading Behavior in Indian Equity Market

Sashikala¹,

Girish²

2015

IJBM

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In this study we identify the factors which influence and affect retail investor's trading behavior in Indian equity market. To identify the factors, we use primary data collected from retail investors belonging to different age group, professional backgrounds and demographics of India. The results of the study suggest that factors like broker's advice, personal analysis, current price of the equity stock, financial analyst's recommendations, inclination towards online trading; investor's confidence in advice given by his/her financial advisor plays a major role in influencing and affecting trading behavior of retail investors. The result of the study gives insights to firms offering financial services in developing nation like India to keep these factors in mind while offering products/services or in their marketing campaigns while targeting retail investors of Indian equity market.

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Neoclassical finance, behavioral finance and noise traders: A review and assessment of the literature

Cited by 91 publications

References 182 publications

Investor response to public news, sentiment and institutional trading in emerging markets: A review

Investor response to public news, sentiment and institutional trading in emerging markets: A review

Reciclagem Com Incentivo Económico E a Heurística Da Ancoragem

Factors Influencing Retail Investor’s Trading Behavior in Indian Equity Market

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