Boys Will Be Boys: Gender, Overconfidence, and Common Stock Investment

By Brad M. Barber, Terrance Odean. 2001

926 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/ace6f91db6b5c75335f69fd7d386395949d5dac1

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Citations in the corpus

Aging and decision making: a comparison between neurologically healthy elderly and young individuals (2005, background): “Economic studies tend to show that the financial choices of men are more risk-seeking than those of women, an observation that has been frequently attributed to overconfidence among males (Barber and Odean, 2001; Powell and Ansic, 1997; Prince, 1993).”
The Inattentive Participant: Portfolio Trading Behavior in 401(K) Plans (2006, background): “For instance, Samuelson’s (1969) theoretical approach argued that rational investors would hold a fixed equity allocation over their lifetime, regardless of age or wealth (and given identically and independently distributed returns over time, among other assumptions).”
Gender and corporate finance: Are male executives overconfident relative to female executives? (2013, positive): “Gender has been examined in other business settings, including stock trading behavior (Barber and Odean, 2001), the mutual fund industry (Atkinson, Baird, and Frye, 2003), start-up firms (Verheul and Thurik, 2001), and competitive environments in laboratory settings (Niederle and Versterlund, 2007).”
Do CFOs Have Style? An Empirical Investigation of the Effect of Individual CFOs on Accounting Practices* (2011, background): “Bertrand and Schoar (2003) also find that with two of the 11 variables they investigate the coefficients are significant in their placebo data (although of smaller magnitude).”
Dumb Money: Mutual Fund Flows and the Cross-Section of Stock Returns (2008, background): “Odean (1999), and Barber and Odean (2000, 2001, 2004) present extensive evidence that individual investors suffer from biased-self attribution, and tend be overconfident, thus engaging in (wealth-destroying) excessive trading.”
Individual investors and financial disclosure (2013, background): “In line with the prior literature (e.g., Odean 1998; Barber and Odean 2000; Barber and Odean 2001; Deaves et al. 2006; Statman, Thorley, and Vorkink 2006), I assume that excessive trading of individuals reflects overconfidence and hence, use individuals' trading frequency during the year as a proxy…”
Sensation Seeking, Overconfidence, and Trading Activity (2009, neutral): “12”
Do Retail Trades Move Markets (2009, background): “9 million common stock trades by 78,000 households between January 1991 and November 1996; these data are described extensively in Barber and Odean (2000). The large retail broker data contain approximately 7.”
Financial Overconfidence Over Time - Foresight, Hindsight, and Insight of Investors (2017, neutral): “Barber and Odean (2001) introduce gender as a proxy for overconfidence and find that men trade more frequently than women.”
Once Burned, Twice Shy: How Naive Learning, Counterfactuals, and Regret Affect the Repurchase of Stocks Previously Sold (2011, neutral): “In general, individual investors do not exhibit stockpicking ability (Barber et al. 2009; Barber and Odean 2000, 2001; Odean 1999).”