Do Older Investors Make Better Investment Decisions?

By George M. Korniotis, Alok Kumar. Review of Economics and Statistics, 2011

472 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/bc3cb618c991fb95ee85ba1fab96ce39a446cf7a

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

In Economics and Econometrics

In Finance

Citations in the corpus

Age differences in financial decision making: T he benefits of more experience and less negative emotions (2018, background): “…have relevant financial experiences, they may sometimes find it cognitively too demanding to implement their experience‐based knowledge correctly (Korniotis & Kumar, 2011), or change their habits to react to new information (Lambert‐Pandraud & Laurent, 2010; Lambert‐Pandraud, Laurent, &…”
The Cross-Section of Speculator Skill: Evidence from Day Trading (2014, background): “As in Barber, Lee, Liu, and Odean 1 See Coval, Hirshleifer, and Shumway (2008), Grinblatt, Keloharju, and Linnainmaa (2012), Korniotis and Kumar (2011, 2012), Kumar (2009), Ivkovic and Weisbenner (2005), and Ivkovic, Sialm, and Weisbenner (2008).”
Actions Speak Louder than Words: How Figurative Language and Gesturing in Entrepreneurial Pitches Influences Investment Judgments (2019, background): “We recorded investors’ experience investing in new ventures (in years) because prior research shows that experienced investors may make decisions differently from inexperienced investors; for example by using rules of thumb based on knowledge learned (Korniotis & Kumar, 2011).”
Individual Investor Perceptions and Behavior During the Financial Crisis (2013, unknown): “…that prior literature suggests as drivers of investor behavior, such as gender, age, account tenure, income, portfolio value, house value, derivative usage, and dividend choice (Barber and Odean, 2001; Dhar and Zhu, 2006; Bauer et al., 2009; Seru et al., 2010; Korniotis and Kumar, 2011b).”
Do Portfolio Distortions Reflect Superior Information or Psychological Biases? (2013, unknown): “Korniotis and Kumar (2011) also use the Survey of Health, Aging, and Retirement in Europe (SHARE) data to estimate a model of cognitive abilities in their robustness tests, but the focus of their paper is on the behavior of older investors and the adverse effects of cognitive aging.”
Age differences in consumer financial capability (2015, result): “Although some of the literature (Korniotis and Kumar, 2011; Lusardi et al., 2012; Lusardi and Mitchell, 2014) points out that objective financial literacy declines among age groups after 65 years old, our results suggest that consumers who are older than 65 as a whole have a higher level of…”
Does It Pay to Pay Attention (2018, background): “…Keloharju, and Linnainmaa (2012) and Korniotis and Kumar (2013)), education (Von Gaudecker (2015)), wealth (Calvet, Campbell, and Sodini (2007)), experience (Korniotis and Kumar (2011) and Nicolosi, Peng, and Zhu (2009)), and portfolio concentration (Ivkovic, Sialm, and Weisbenner (2008)).”
IQ, Trading Behavior, and Performance (2012, unknown): “We acknowledge financial support from stments, INQUIRE Europe, the OP-Pohjola Research Foundation, and the es ‘‘Do Smart Investors Outperform Dumb Investors?’’ and ‘‘IQ and Stock 1 See, for example, Coval, Hirshleifer, and Shumway (2003), Ivković and Weisbenner (2005), Ivković, Sialm, and Weisbenn”