Does good luck make people overconfident? Evidence from a natural experiment in the stock market

Gao, Huasheng; Shi, Donghui; Zhao, Bin

doi:10.1016/j.jcorpfin.2021.101933

Cited by 90 publications

(37 citation statements)

References 36 publications

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“…Green bond (GB) is the concept of World Bank primarily introduced in late 2010, raised to reverse high carbon emission and o mitigate the climate changes (Zhou and Cui, 2019). According to GB fundmentals, projects are keenly assessed and are financed through green bonds to commence green energy (Maltais and Nykvist, 2020), boost green energy intensity for communities (Tnag and Zhang, 2020), reducing waste disposal (Wisniewski and Zielinski, 2019), environment friendly transportation and sustainable climate change management (Flammer, 2021). Nature wise green bonds are like debt financing tool same as conventional debt instrument.…”

Section: Green Bond and Green Growth Possibilitymentioning

confidence: 99%

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Green bond as a new determinant of sustainable green financing, energy efficiency investment, and economic growth: a global perspective

Ning¹,

Cherian

Sial

et al. 2022

Environ Sci Pollut Res

115

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The purpose of the study is to test the role of green bond financing on energy efficiency investment and economic growth. To achieve the study objective, fuzzy decision-making modeling technique is applied. The results revealed that bank loans are now the main source of financing for energy efficiency projects. Project-based financing might be replaced with Energy Performance Contracts (EPC) warranting energy efficiency investment. Moreover, green banks invest both public and private funds in energy efficiency promoting economic growth. The usage of green bonds for financing environmentally beneficial projects or companies is limitless. Providing for screening energy efficiency investment proposals with small payback hurdle rates might have large opportunity costs. Green bonds can be used to remove the financing barriers for green finance and sustainability tool. On this, study provides policy implications to key stakeholders; if suggested policy suggestions implemented successfully, these would help to enhance scope of green bond financing to uplift energy efficiency financing and green growth successfully.

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Section: Green Bond and Green Growth Possibilitymentioning

confidence: 99%

“…More so, recent study intends to suggest the policy implications on green growth and green energy economy through green financing, for they policymakers (Gao et al, 2021). For this, we came up with the argument that green financing is mandatory option for the green growth of any economy (Iqbal et al, 2021a, b).…”

Section: Introductionmentioning

confidence: 99%

Green bond as a new determinant of sustainable green financing, energy efficiency investment, and economic growth: a global perspective

Ning¹,

Cherian

Sial

et al. 2022

Environ Sci Pollut Res

115

View full text Add to dashboard Cite

show abstract

“…In the market, herding behavior often has a huge impact. It aggravates large fluctuations in financial market prices and amplifies and spreads this impact, and ultimately, it leads to the instability of the financial market [10].…”

Section: Introductionmentioning

confidence: 99%

[Retracted] Herding Behavior in China’s Stock Market under the Background of Implementation of the SHKSC Policy

Gong

2022

Discrete Dynamics in Nature and Society

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In the financial market, because of information asymmetry, investors often ignore private information. Herding behavior in financial markets has become an important research branch of behavioral finance. China stock market has implemented the Shanghai-Hong Kong Stock Connect (SHKSC) policy and introduced mature funds, however, has it alleviated the herd effect? This article empirically verifies the existence of China's stock market before and after the implementation of the SHKSC policy. The research in this article found that the implementation of the SHKSC policy has not changed herding behavior. On the contrary, the herding effect has become more serious. It is further found that investors have no obvious investment preference for the industry to which the stock belongs. Investor investment is in line with the phenomenon of “slow rise and sharp fall.” When stock prices fall, the herd effect of the Chinese stock market is also more obvious.

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“…So far as the shock persists beyond a specific phase of time, a sizable number of (Taghizadeh-Hesary and Yoshino 2019) (Taghizadeh-Hesary and Yoshino 2020) enterprises will survive and become profitable. Thus, its net value will be explicit as the economy recovers from prior-pandemic levels (Gao et al 2021). Nevertheless, not all enterprises can live through an elongated pandemic with extensive lockdowns as well as management measures.…”

Section: Literature Reviewmentioning

confidence: 99%

Testing the impact of fiscal policies for economic recovery: does monetary policy act as catalytic tool for economic Survival

Leiling

Saydaliev

et al. 2022

Econ Change Restruct

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This study seeks to evaluate the efficacy of macroeconomic revamping policies operationalized after the pandemic by fiscal and monetary regulators to fight the pandemic in China. This study aims to assess what the Chinese economic recovery implies after the pandemic regarding economic expansion and energy consumption of different economies utilizing an econometric approximation relying on data throughout the COVID-19 phase. Within the extended stage, Chinese economic development spillover impacts attain the same effect on upper-middle-income nations' economic expansion of 0.18 percent, next to the economic development, of lower-middle-income countries of 0.15 percent and high-income nations. We discover proofs of robust direct provincial spillovers, implying that provinces tend to construct a cluster of high-performing and low-performing areas, a procedure that accentuates regional earnings variances. Applying the experience of revamping previous financial crisis, we replicate the impact of the pandemic on the competence of these, and by far, other upper limit income nations to build back better from the pandemic to jobs occasioned by proofs of the pandemic. The spillover impact of China's economic revival past the pandemic phase's carries a critical effect on the expansion in energy consumption in high-income nations, subsequently middle-income nations. As total factor productivity headwinds underpin economic growth, fiscal policy is the only policy that probably sustains the pollution intensities and concurrently advances household well-being regarding consumption and jobs.

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Does good luck make people overconfident? Evidence from a natural experiment in the stock market

Cited by 90 publications

References 36 publications

Green bond as a new determinant of sustainable green financing, energy efficiency investment, and economic growth: a global perspective

Green bond as a new determinant of sustainable green financing, energy efficiency investment, and economic growth: a global perspective

[Retracted] Herding Behavior in China’s Stock Market under the Background of Implementation of the SHKSC Policy

Testing the impact of fiscal policies for economic recovery: does monetary policy act as catalytic tool for economic Survival

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