Behavioural Finance: The Emergence and Development Trends

Bikas, Egidijus; Jurevičienė, Daiva; Dubinskas, Petras; Novickytė, Lina

doi:10.1016/j.sbspro.2013.06.363

Cited by 45 publications

(27 citation statements)

References 18 publications

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“…The traditional economic theory assumes that people are rational agents and make decision objectively based on their knowledge, experience and expectations and are capable of taking advantage of the opportunities available to them. However, emotional inclination, ingrained thought patterns, and the psychological biases of different human beings-that is, the behavioral paradigm of financial decision-making-describes how investors perceive the world and make investment decision [39][40][41]. Investment decision was previously followed by an ordinary triangle covering risk, liquidity, and return, however, a growing number of investors nowadays use the phenomenal square, covering liquidity, risk, return and sustainability [42].…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

Environmental, Social and Governance (ESG) and Investment Decision in Bangladesh

2018

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Abstract:As a key facet of sustainable development, environmental, social and governance (ESG) discretion on stock market investment decision is gaining prevalence following the global financial crisis. ESG considers the sustainable return, risk reduction, and accountability aspects of investments. This study is an exploration of the individual stock market investors' preferences for ESG issues and the influence that purpose of investment has on investment decision-making, by testing the investment horizon as a moderator. The theoretical background was taken from the theory of planned behavior (TPB), goal setting theory (GST), and the behavioral asset pricing model (BAPM). The study uses the sequential mix method of research, starting with an interview followed by a survey, which was conducted among individual stock market investors in Bangladesh, using simple random sampling. Structural equation modeling (SEM) analysis was carried out using Warp PLS version 6.0. The key findings of this study delineate the effect of ESG issues and the purpose of investment on investment decision-making. The contribution of the study signifies the moderating role of the investment horizon, which confirms the importance of the long-term horizon as a time and risk diversification factor. The sparse utilization of the United Nations Global Compact (UNGC) (2004) and Thomson Reuters Corporate Responsibility Index (TRCRI) (2013) as measurement scales in this study is mentioned. This study has made practical contributions for managers, investors, and regulators.

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Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

Environmental, Social and Governance (ESG) and Investment Decision in Bangladesh

2018

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“…Perilaku keuangan juga membedakan pasar rasional dari pasar yang sulit dikalahkan dalam diskusi pasar yang efisien, perbedaan yang sering kabur dalam keuangan standar, dan ia meneliti mengapa begitu banyak investor percaya bahwa mudah mengalahkan pasar. Selain itu, Perilaku keuangan memperluas domain keuangan di luar portofolio, penetapan harga aset, dan efisiensi pasar dan diatur untuk melanjutkan ekspansi tersebut sambil tetap berpegang pada kekakuan ilmiah yang diperkenalkan oleh keuangan standar [7].…”

Section: Pendahuluanunclassified

How Behavioral Finance during Pandemic COVID-19?

Solihat

Nugraha²

2020

BIEJ

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The global pandemic of COVID-19 has created dramatic and unprecedented challenges for individuals, the economy, financial markets, financial institutions and governments. The purpose of this study was to determine how much change in financial behavior during the COVID-19 pandemic. This study uses a literature review method by comparing several previous research findings that are relevant to the COVID-19 pandemic problem. The results of this study reveal changes in financial behavior during the COVID-19 pandemic, especially in urban areas that are in the red zone and many financial transactions.

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“…Subsequently, hundreds of studies have been published on the subject. This mini review is limited in scope to present a complete overview of the field; therefore, the interested reader is referred to Bikas et al (2013) for a comprehensive review of intriguing discoveries and development trends in the field of behavioral finance. The area has enjoyed huge burst of research work and has exploded with new discoveries in recent past.…”

Section: Literature Review "The Stock Market Is a Device To Transfer mentioning

confidence: 99%

Story beneath story: Do magazine articles reveal forthcoming returns on stock market?

Sarwar¹,

Mazhar²

2017

Afr. J. Bus. Manage.

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The study attempts to investigate the relation between news articles and stock returns, focusing on immediate impact of Pak and Gulf Economist articles. It endeavors to figure out whether such quantification of news articles has a relation with Karachi Stock Exchange (KSE)-100 index. Sample comprised of 511 words picked manually for analysis from 760 weekly issues of Pak and Gulf Economist. Correlation and regression analysis was applied to word indices and KSE excess returns for a period of 16 years from 1999 to 2014. Main finding was that words were not only correlated with KSE-excess returns rather they also had a causal relation with index. Augmenting benchmark models with word indices enhanced the forecasting power of those models.

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Behavioural Finance: The Emergence and Development Trends

Cited by 45 publications

References 18 publications

Environmental, Social and Governance (ESG) and Investment Decision in Bangladesh

Environmental, Social and Governance (ESG) and Investment Decision in Bangladesh

How Behavioral Finance during Pandemic COVID-19?

Story beneath story: Do magazine articles reveal forthcoming returns on stock market?

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