Investor Psychology in Capital Markets: Evidence and Policy Implications

By Kent D. Daniel, David A. Hirshleifer, Siew Hong Teoh. 2001

702 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/54c4f48e9c5be8d92b4ea549b2ac32520173da85

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Citations in the corpus

The Pricing of Dividends in Equity Valuation (2005, neutral): “…information has for the level and/or riskiness of the firms’ future cash flows (e.g., O’Brien, 1988; Bernard and Thomas, 1989 # Blackwell Publishing Ltd 2005 and 1990; Abarbanell, 1991; Sloan, 1996; Debondt and Thaler, 1986; Daniel, Hirshleifer and Teoh, 2002; and Daniel and Titman, 2003).”
Identifying impediments to SRI in Europe: a review of the practitioner and academic literature (2008, background): “The first source is behavioural finance, which, through insight into the decisional heuristics, explains the observed market behaviour (De Bondt 1993, De Bondt & Forbes 1999, Wärneryd 2001, Daniel et al. 2002).”
The Investment Manifesto (2013, neutral): “Firm i faces a vector of F aggregate technological uncertainties, denoted ~ X f t , for f¼1,y,F. Brock models technological heterogeneity across firms as firm-specific loadings, denoted L f it , on the aggregate factors, ~ X f t .”
Applications of news analytics in finance: A review (2012, background): “Due to individual behavioural biases investors systematically deviate from optimal trading behaviour (Daniel, Hirshleifer, and Teoh, 2002; Hirshleifer, 2001; Odean and Barber, 1998).”
Behavioral Finance: Quo Vadis? (2015, neutral): “The central insights of behavioral finance are described in Barberis and Thaler (2003), Daniel et al. (2002), De Bondt (2002, 2005, 2008a), Dreman (1995), Shefrin (2001a, 2002) and Thaler (1993).2 There are three classes of findings.”
Thought and Behavior Contagion in Capital Markets (2008, neutral): “…news about one firm or region to 3Recent reviews of theory and evidence of both rational observational learning and other sources of behavioral convergence in finance include Devenow and Welch (1996), Hirshleifer (2001), Bikhchandani and Sharma (2001), and Daniel, Hirshleifer, and Teoh (2002).”
Limited Investor Attention and Stock Market Misreactions to Accounting Information (2011, positive): “There is other evidence that limited attention affects capital markets; indeed,Daniel, Hirshleifer, and Teoh(2002) suggest that limited attention may underlie an array of anomalous patterns in securities market trading and prices (e.g.,Huberman and Regev 2001; Hou and Moskowitz 2005; Hong, Torous,…”
customers as advisors: the role of social media in financial markets (2011, positive): “, Daniel et al. (2002)).”
Are Small Investors Naive About Incentives (2007, positive): “*Corresponding author contact information: ulrike@econ.berkeley.edu”
Speculative Trading and Stock Prices: Evidence from Chinese A-B Share Premia (2005, methodology): “D’Avolio (2002) provides an empirical analysis of shorting cost in the U.”