A Behavioral Shift in Earnings Response After Regulation FD

Kwag, Seung Woog

doi:10.1080/15427560.2014.939749

Cited by 10 publications

(1 citation statement)

References 24 publications

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“…The results are consistent with the position that investors’ judgments of risk and return, both mediated by sentiment, influence market prices. Studies identify many behavioral variables affecting investor judgment as investment-related knowledge and experience (Victoravich, 2010), financial professionals’ overconfidence (Peterson et al , 2015; Gloede and Menkhoff, 2014), decision goal (Young, 2009), social influence (Andersson et al , 2014), analyst overoptimism (Jones and Johnstone, 2012), multiple information sources and subjective confidence (Du and McEnroe, 2011), affect (Sevdalis et al , 2009), information spillovers (Hovakimian and Saenyasiri, 2014), unconditional size effect (Antoniou et al , 2014), expected information quality (Kwag, 2014), analyst’s evaluation of extent to disclosure reliability (McEwen et al , 2008) and information on which analysts base their forecasts – trend, variability and recency (Ashton and Cianci, 2007).…”

Section: Behavioral Finance Indicators At the Aggregate Level – Does Rationality Exist?: Contradictory Evidencementioning

confidence: 99%

Behavioral mediators of financial decision making – a state-of-art literature review

Nigam

Srivastava

Banwet

2018

RBF

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Purpose The purpose of this paper is to review the insights provided by behavioral finance studies conducted in the last decade (2006-2015) examining behavioral variables in financial decision making. Design/methodology/approach The literature review assesses 623 qualitative and quantitative studies published in various international refereed journals and identifies possible scope of future work. Findings The paper identifies stock market anomalies which contradict rational agents of modern portfolio theory at an aggregate level and behavioral mediators, influencing the financial decision making at an investor level. The paper also attempts to classify different dimensions of risk as professed by the investor. Originality/value The authors synthesize the contribution made by behavioral finance studies in extending the knowledge of financial market and investor behavior.

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