Patterns of Behavior of Professionally Managed and Independent Investors

By Zur Shapira, Itzhak Venezia. 2001

686 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/acdbfbf2af71428f218d2899e1bf2c1ec6a47e20

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Citations in the corpus

Financial Literacy and the Demand for Financial Advice (2015, neutral): “Not only advisors/brokers do not appear to fully correct investors’ behavioral biases (Shapira and Venezia, 2001; Mullainathan et al., 2010), but it is evident that conflicts of interest may affect the supply of financial advice.”
Impact of Financial Literacy and Behavioural Biases on Investment Decision-making (2021, background): “The basic postulation of traditional theory is that investors are rational and continually seek to capitalize on their own benefit by improving wealth (Shapira & Venezia, 2001).”
Learning By Trading (2010, background): “The effect has been found in other contexts, including in Finland (Grinblatt and Keloharju 2001), China (Feng and Seasholes 2005, Shumway and Wu 2006), and Israel (Shapira and Venezia 2001); among professional market makers (Coval and Shumway 2005), mutual fund managers (Frazzini 2006), and home sel”
Financial literacy, financial advice, and financial behavior (2017, background): “2008; Gerhardt and Hackethal 2009) and exhibit weaker disposition effects (Shapira and Venezia 2001) than portfolios of self-directed retail investors.”
The Reach of the Disposition Effect: Large Sample Evidence Across Investor Classes* (2006, neutral): “However, Shapira and Venezia (2001) find that while the disposition effect is pervasive it is significantly weaker among professional investors than among amateurs in Israel, where stock market gains are tax free.”
Firm specific and macro herding by professional and amateur investors and their effects on market volatility (2011, background): “18 In a study of similar investors, but in a different period of time and analyzing different issues, Shapira and Venezia (2001) show that professionals are indeed more eclectic and less correlated with the market than are amateurs.”
Option trading and individual investor performance (2009, neutral): “1 Studies have considered the trading behavior and performance of individual investors in, among others, the United States (Barber and Odean, 2000), China (Ng and Wu, 2007), Israel (Shapira and Venezia, 2001; Venezia and Shapira, 2007), and Sweden (Anderson, 2006).”