The Role Of Beliefs In Financial Markets
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The Role Of Beliefs In Financial Markets
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Author : Mohamad Mahmoud Al-Ississ
language : en
Publisher:
Release Date : 2010
The Role Of Beliefs In Financial Markets written by Mohamad Mahmoud Al-Ississ and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Finance categories.
The third essay investigates a seldom explored relationship, that between religion and financial markets. This study examines the effect of religious experience during the Muslim holy days of Ramadan and Ashoura on the daily returns and trading volume of seventeen Muslim financial markets. It uses the special characteristics of the Muslim lunar calendar to isolate the elusive effect of faith. The study documents statistically significant changes in daily returns and trading volume associated with religious experiences. The essay utilizes the heterogeneity of worship intensity within Ramadan as a natural experiment to validate the results' robustness.
Essays On The Role Of Investor Beliefs In Financial Markets
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Author : Tyrone William Callahan
language : en
Publisher:
Release Date : 1999
Essays On The Role Of Investor Beliefs In Financial Markets written by Tyrone William Callahan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Investments categories.
A Crisis Of Beliefs
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Author : Nicola Gennaioli
language : en
Publisher: Princeton University Press
Release Date : 2020-03-10
A Crisis Of Beliefs written by Nicola Gennaioli and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-03-10 with Business & Economics categories.
"How investor expectations move markets and the economy. The collapse of Lehman Brothers in September 2008 caught markets and regulators by surprise. Although the government rushed to rescue other financial institutions from a similar fate after Lehman, it could not prevent the deepest recession in postwar history. A Crisis of Beliefs makes us rethink the financial crisis and the nature of economic risk. In this authoritative and comprehensive book, two of today's most insightful economists reveal how our beliefs shape financial markets, lead to expansions of credit and leverage, and expose the economy to major risks. Nicola Gennaioli and Andrei Shleifer carefully walk readers through the unraveling of Lehman Brothers and the ensuing meltdown of the US financial system, and then present new evidence to illustrate the destabilizing role played by the beliefs of home buyers, investors, and regulators. Using the latest research in psychology and behavioral economics, they present a new theory of belief formation that explains why the financial crisis came as such a shock to so many people--and how financial and economic instability persist. A must-read for anyone seeking insights into financial markets, A Crisis of Beliefs shows how even the smartest market participants and regulators did not fully appreciate the extent of economic risk, and offers a new framework for understanding today's unpredictable financial waters."--
Review Of Religious Beliefs Gambling Attitudes And Financial Market Outcomes
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Author : Maximiliane Brecht
language : en
Publisher: GRIN Verlag
Release Date : 2015-06-11
Review Of Religious Beliefs Gambling Attitudes And Financial Market Outcomes written by Maximiliane Brecht and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-11 with Business & Economics categories.
Seminar paper from the year 2014 in the subject Business economics - Miscellaneous, grade: 1.0, University Heidelberg Alfred-Weber-Institut of Economics, course: Religion and Financial Behavior, language: English, abstract: As religious faith plays a crucial role in people’s lives and largely influences their behavior as well as their decision making, the study of religiosity has a long tradition in many social science disciplines. Nevertheless, this relationship became only a topic of interest in modern economic studies since the last quarter of the twentieth century, when Ehrenberg and Azzi (1975) developed a utility-maximizing model taking into account both lifetime and afterlife utility (see, for example, Iannaccone, 1998; Jackson and Fleischer, 2007). In 2012, around 91% of the US American population professed to ”believe in God or a universal spirit” (Lugo, 2012), suggesting that if religion does shape economic behavior, it should also affect aggregate market outcome. Hence, studies investigate both microand macroeconomic effects of religiosity 2 , while some recent papers specifically address the relationship between religion and financial decisions: risk aversion and speculative behavior in particular are believed to depend on religious adherence. Not only have studies linked religiosity with a higher level of pure risk aversion in corporate decision making (Hilary and Hui, 2009), but also suggests current research that religious beliefs spill over in investment decisions due to different notions of gambling. For instance, Kumar (2009) found Catholics to be more willing to take on speculative risk by investing more in risky stocks than Protestants do. This paper aims to critically review Kumar, Page, and Spalt (2011) and structures as follows: firstly the theoretical framework of gambling in economics will be presented with a focus on cumulative prospect theory and its implications for asset pricing. Then follows a comprehensive overview of the theoretical background and empirical findings of the paper with focus on the influence of religion on investors’ portfolio decisions and on overpricing of initial public offerings. The subsequent section discusses the hypotheses of Kumar, Page, and Spalt (2011). Eventually, the last section concludes with a summary of the main findings in a broader context and with an outlook on future research.
Knowledge Beliefs And Economics
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Author : R. Arena
language : en
Publisher: Edward Elgar Publishing
Release Date : 2006-01-01
Knowledge Beliefs And Economics written by R. Arena and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-01-01 with Psychology categories.
The contributors to this book also suggest the need for a more integrated perspective on the meaning, as well as the role, of knowledge and beliefs in economics in the future. Possible lines of future research such as the extension of the concept of rationality in economics or the focus on cognitive processes in economic action are discussed.
Investor Beliefs And Their Impact On Financial Markets
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Author : Carolin Hartmann
language : en
Publisher:
Release Date : 2021
Investor Beliefs And Their Impact On Financial Markets written by Carolin Hartmann and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
Investment Beliefs
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Author : K. Koedijk
language : en
Publisher: Springer
Release Date : 2010-12-08
Investment Beliefs written by K. Koedijk and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-12-08 with Business & Economics categories.
Having the right investment beliefs and putting them into practice is key to delivering the right results. Decision makers in the investment industry should worry less about the stocks and products they pick for their clients and more about getting the big picture right; developing investment beliefs are instrumental in making the right choices.
Handbook Of Financial Markets Dynamics And Evolution
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Author : Thorsten Hens
language : en
Publisher: Elsevier
Release Date : 2009-06-12
Handbook Of Financial Markets Dynamics And Evolution written by Thorsten Hens and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-12 with Business & Economics categories.
The models of portfolio selection and asset price dynamics in this volume seek to explain the market dynamics of asset prices. Presenting a range of analytical, empirical, and numerical techniques as well as several different modeling approaches, the authors depict the state of debate on the market selection hypothesis. By explicitly assuming the heterogeneity of investors, they present models that are descriptive and normative as well, making the volume useful for both finance theorists and financial practitioners. Explains the market dynamics of asset prices, offering insights about asset management approaches Assumes a heterogeneity of investors that yields descriptive and normative models of portfolio selections and asset pricing dynamics
Evolutionary Beliefs In Financial Market
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Author : Elyes Jouini
language : en
Publisher:
Release Date : 2015
Evolutionary Beliefs In Financial Market written by Elyes Jouini and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
Why do investors keep different opinions?
Measurement Dynamics And Implications Of Heterogenous Beliefs In Financial Markets
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Author : Saskia ter Ellen
language : en
Publisher:
Release Date : 2015
Measurement Dynamics And Implications Of Heterogenous Beliefs In Financial Markets written by Saskia ter Ellen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.