Social interaction at work
By Hans K. Hvide, P. Östberg. 2015
114 citations recorded by the source corpus.
Stock market investment decisions of individuals are positively correlated with those of coworkers. Sorting of unobservably similar individuals to the same workplaces is unlikely to explain this pattern, as evidenced by the investment behavior of individuals who move between plants. Purchases made under stronger coworker purchase activity are not associated with higher returns. Moreover, social interaction appears to drive the purchase of within-industry stocks. Overall, we find a strong influence of coworkers on investment choices, but not an influence that improves the quality of investment decisions.
Subfields: Accounting, Finance, Safety Research
View Paper: https://www.semanticscholar.org/paper/b9b3fe014892288c55b2be50ddf193e45384cb86
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Citations in the corpus
- Determinants of individual investment decisions in investment-based crowdfunding (2018, unknown): “Hvide and Östberg (2015) confirm this influence of social interactions on investments in a given stock, whether it is a buy or sell.”
- Information Networks: Evidence from Illegal Insider Trading Tips (2017, background): “…indirect proxies of social interactions, such as geographic proximity (Hong, Kubik, and Stein, 2005; Brown, Ivković, Smith, and Weisbenner, 2008), common schooling (Cohen, Frazzini, and Malloy, 2008, 2010), coworkers (Hvide and Östberg, 2015), and correlated stock trades (Ozsoylev et al., 2014).”