Review of Behavioral Finance: Volume 14 Issue 5

Editorial on Professor Robert Hudson leaving the journal

Herding in the crypto market: a diagnosis of heavy distribution tails

With the unprecedented growth of digitalization across the globe, a new asset class, that is cryptocurrency, has emerged to attract investors of all stripe. The novelty of this…

Are herding transmissions in the gulf cooperation council stock markets regional or international?

The authors aim to assess whether herding in GCC stock markets is more responsive to global dynamics than its response to regional developments. To do so, they use the largest…

Empirical examination of an integrative model for asset pricing – evidence from US market

The current study proposes an integrative framework for examination of determinants of stock returns in US market based on the five-factor Fama and French (FF) model…

Why does subjective financial literacy hinder retirement saving? The mediating roles of risk tolerance and risk perception

The purpose of this study is to examine a mechanism through which subjective financial literacy can exert negative effects on the retirement saving intention and behaviors, which…

Will stock rise on Valentine’s Day?

This study is a pioneer in the academic literature to investigate the relationship between Valentine’s Day and stock market returns of major economies around the world.

Investor sentiment, realized volatility and stock returns

This paper examines the relationship between volatility, sentiment and returns in terms of levels and changes for both lower and higher data frequencies using quantile regression…

Individual investor attention to stock split and the disposition effect

This paper investigates whether individual investors are attentive to stock splits and whether higher split ratios (stronger private information signals) reduce the disposition…

Life-cycle asset allocation and the peso problem: does ambiguity aversion matter?

The study aims to show that ambiguity aversion exerts a non-negligible effect on the investors' decisions, especially due to the possibility of sharp declines in stock prices.

Risk and ambiguous choices: individual versus groups, an experimental analysis

This study examines individual ambiguity attitudes alone and in groups by leveraging the descriptive model of anchoring and adjustment on decision-making under ambiguity. The…

Stock return drivers: a mix of reasons and emotions

The authors study the explanatory power of investor rationality and irrationality for value and momentum portfolios. We also examine the relationships during financial crisis…

Asset market bubbles in an experiment with sequential information releases

Much of the author’s understanding of experimental asset market bubbles is based on the Smith, Suchanek and Williams (SSW) design. The purpose of this paper is to find alternative…

Does the attention-grabbing mechanism work on Sundays? Influence of social and religious factors on investors' attention

This paper focuses on the influence of social, cultural and religious factors on investors' attention. In particular, the authors examined if the attention-grabbing mechanism…

Motives behind the return anomaly around bonus issue announcements: the case of emerging markets

This paper aims to examine the stock return behaviour around the bonus issue announcements in eight emerging markets for 2010–2019 by addressing the signalling, cash substitution…

Investors' reactions to COVID-19 related announcements: evidence from the cargo shipping industry

The purpose of this study is to examine the impact of the corona virus (COVID-19) pandemic on stock returns of listed cargo shipping companies.

Limits of arbitrage and mispricing: evidence from mergers and acquisitions

This paper examines the extent to which noise demand and limits of arbitrage affect the pricing of acquirer stocks both at the announcement period and over the longer horizon.

Bubble run-ups and sell-offs: a study of Indian stock market

This paper tries to locate the sectorial bubbles and examines the possibility for investors making extra profit from these bubbles in the Indian stock market.

Investigating association between factors fostering attention to a stock and rationales to buy it: an empirical analysis

Can something that drives our initial attention toward a stock have any implications on final decision to buy it? This paper empirically and statistically tests association, if…