Income, trading, and performance: Evidence from retail investors

Bui, Dien Giau; Hasan, Iftekhar; Lin, Chih‐Yung; Zhai, Rui-Xiang

doi:10.1016/j.jempfin.2022.01.006

Cited by 6 publications

(1 citation statement)

References 44 publications

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“…Baeckstro ¨m et al (2021) [34] discovered that financial advisors tend to recommend wealthy investors with higher-risk portfolios. Bui et al(2022) [35] pointed out that wealthy investors take extra risks and earn significantly higher returns in the stock market. Therefore, it is seen that there are different heterogeneous behavior among individual investors and wealthy individual investors have unique transaction behavior characteristics.…”

Section: Plos Onementioning

confidence: 99%

Wealthy individual investors and stock markets’ tail risk

Yu,

Lu,

Yang

et al. 2024

PLoS ONE

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This paper employs a unique data set to analyze the trading behavior of wealthy individual investors across Mainland China and their impact on Chinese stock markets’ tail risk. Results show that the wealthy individual investors’ trading behavior can explain Chinese stock markets’ tail risk, and the daily investment portfolios based on the network density of wealthy individual investors have significant excess returns. This paper also investigates the determinants of wealthy individual investors’ trading behavior with the social network method and the spatial econometric model, and reveals that wealthy individuals benefit from the spillover effect of their trading behavior through the investor networks. The results of this paper not only reveal micro evidence for the formation mechanism of asset prices, but also provide insight into the behavior of wealthy individual investors.

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Section: Plos Onementioning

confidence: 99%