Do the Portfolios of Small Investors Reflect Positive Feedback Trading?

By Mary M. Bange. Journal of Financial and Quantitative Analysis, 2000

123 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/20c1d80326c5150e35c660d5348ea1c6af29ada3

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Citations in the corpus

An Epidemic Model of Investor Behavior (2009, background): “Another potential determinant of trading frequency is the past weeks’ return on the stock (LReturnj,t), which has been shown by Bange (2000), Griffin, Nardari, and Stulz (2007), and Barber and Odean (2008) to be a predictor of trading behavior. This effect may manifest itself the buying or selling o”
Investor Sentiment, Trading Behavior and Informational Efficiency in Index Futures Markets (2008, background): “Bange (2000), Sias (2007), and Nofsinger and Sias (1999) show that changes in portfolio holdings of individual and institutional investors observed at monthly, quarterly and annual intervals are driven, at least in part, by positive feedback trading.”
Investors' Perceptions of Earnings Quality, Auditor Independence, and the Usefulness of Audited Financial Information (2003, result): “This result is consistent with the results of Bange (2000), showing that individual investors, on average, do not outperform the market.”
How Much Does Expertise Reduce Behavioral Biases? The Case of Anchoring Effects in Stock Return Estimates (2008, background): “The question of how individuals form stock market return expectations has received increasing attention, and survey-based studies directly asking for these expectations have appeared in recent years (e.g., Welch, 2000; Bange, 2000; Fraser, 2004; Graham and Harvey, 2005; Glaser and Weber, 2005).”
The behavior and performance of major types of futures traders (2002, background): “First, similar to investor behavior studies in equity markets (e.g., Bange, 2000; Grinblatt & Kelharju, 2000; Nofsinger & Sias, 1999), we evaluate the average performance of various futures traders.”
Institutional and individual sentiment: Smart money and noise trader risk? (2006, background): “Several studies find institutions to be informed investors or ”smart money” 1 (e.g. Chakravarty, 2001, Jones and Lipson, 2004, Sias, Starks and Titman, 2004) and individual investors to be irrational noise traders or ”dumb money” (Frazzini and Lamont, 2005, Bange, 2000).”