Sustainable and Secure Development: Facet of Personal Financial Issues

Kalyugina, Svetlana; Strielkowski, Wadim; Ushvitsky, Lev; Astachova, Elena

doi:10.9770/jssi.2015.5.2(14)

Cited by 36 publications

(28 citation statements)

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“…Therefore, we suggest that governments should invest in increasing individual financial literacy, which will help to mitigate the impact of overconfidence on investment decisions and to achieve sustainable management of individual finances (Ciemleja, Lace, & Titko, 2014;Dubauskas, 2016;Kalyugina, Strielkowski, Ushvitsky, & Astachova, 2015;Njaramba, Chigeza, & Whitehouse, 2015). Moreover, it could also direct individuals towards more socially responsible investing (Slapikaitė, Tamošiūnienė, & Mackevičiūtė, 2015).…”

Section: Resultsmentioning

confidence: 99%

Overconfidence, risk aversion and individual financial decisions in experimental asset markets

Michailova

Mačiulis²,

Tvaronavičienė

2017

Economic Research-Ekonomska Istraživanja

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Prior experiments revealed that investors' overconfidence can result in excessive trade and negative wealth effects. However, in most of these studies, informational asymmetries were part of the experimental design, and therefore no clear conclusion on whether the obtained results were driven by overconfidence or informational asymmetries could be made. The article addresses this issue by analysing individual financial decisions based on the study of Michailova and Schmidt, who ran an asset markets experiment with no informational asymmetries. Additionally, the study controls for differences in individual risk aversion. The data revealed that, in this setting, individual trading activity and performance were influenced by overconfidence only for female participants. Mistakes in future price forecasting, which were negatively correlated with overconfidence, partially accounted for this result. Risk aversion was uncorrelated with overconfidence and had no influence on experimental outcomes.

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Section: Resultsmentioning

confidence: 99%

Overconfidence, risk aversion and individual financial decisions in experimental asset markets

Michailova

Mačiulis²,

Tvaronavičienė

2017

Economic Research-Ekonomska Istraživanja

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“…Modern researchers view the problem of modern business or family business from the different angle using system-based approach (e.g. Armas-Cruz, 2017; Janda et al, 2013;Ehrenberger et al, 2013;Koudelková & Svobodová, 2014;Kalyugina et al, 2015;Ključnikov et al, 2016, Andreeva et al, 2016Jankelová et al, 2017;Vovk, & Vovk, 2017;Žižka et al, 2018;Ussahawanitchakit, 2017). Furthermore, Tagiuri and Davis (1996) suggested ways how to identify a main specificity and to analyse the source of conflicts and priorities in family enterprises.…”

Section: Literature Reviewmentioning

confidence: 99%

Family business and business dynasties: A case study of Russia

Murzina

Turčeková

Mensh

et al. 2018

Journal of International Studies

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Family business and family business dynasties are notorious all around the world. The Waltons, the Fords, the Hiltons, the Bushes, the Kardashians, or the Murdochs -all of them shape up the world's globalized economy. However, in Russia business dynasties are just passing through the stage of their initial development and setting. As a result, very little empirical research has been carried out so far to determine socio-physiological traits of its incumbents. This paper describes the peculiarities of the 'founders of business dynasties' (i.e., a group of business owners who have already worked with their relatives and

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“…So, markets should follow a random walk in the short-term as stated by Malkiel (2003). Though these assumptions do not always reflect the real picture, since market participants in reality are affected by an array of factors, such as obvious structural changes of economy (Akhmadeev & Manakhov, 2015;Dezellus, Ferreira, Pereira, & Vasiliūnaitė, 2015;Dudzevičiūtė, Mačiulis, & Tvaronavičienė, 2014;Korsakienė & Tvaronavičienė, 2014;Oganisjana, Surikova, & Laizāns, 2015;Prause, 2015;Rezk, Ibrahim, Tvaronavičienė, Sakr, & Piccinetti, 2015;Shatrevich & Strautmane, 2015;Travkina & Tvaronavičienė, 2015;Tvaronavičienė & Černevičiūtė, 2015;Tvaronavičienė, Mačiulis, Lankauskienė, Raudeliūnienė, & Dzemyda, 2015;Wahl, 2015), economic growth mode, external and internal threats (Balitskiy, Bilan, & Strielkowski, 2014;Ignatavičius, Tvaronavičienė, & Piccinetti, 2015;Kalyugina, Strielkowski, Ushvitsky, & Astachova, 2015;Lankauskienė & Tvaronavičienė, 2012;Munteanu & Tamošiūnienė, 2015;Stasytytė, 2015), approaches towards innovations and decision-making patterns (Bistrova, Lace, & Tvaronavičienė, 2014;Čirjevskis, 2015;Dobele, Grinberga-Zalite, & Kelle, 2015;Lace, Natalja, & Rumbinaite, 2015;Mostenska & Bilan, 2015;Olaniyi & Reidolf, 2015;Rosha & Lace, 2015;Šimberová, Chvátalová, Kocmanová, Hornungová, & Pavláková Dočekalová, 2015;Slapikaitė, Tamošiūnienė, & Mackevičiūtė, 2015;Tvaronavičienė & Černevičiūtė, 2015;Tvaronavičie...…”

Section: Introductionmentioning

confidence: 99%

The impact of regime-switching behaviour of price volatility on efficiency of the US sovereign debt market

Masood

Aktan

Gavurová

et al. 2017

Economic Research-Ekonomska Istraživanja

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This article focuses on the asset price volatility at the stock exchange that result from the regime switching behaviour in the market. This study is devoted to the question about how the asset price volatility affects the US sovereign debt market. The efficient market hypothesis has been a base for the asset pricing. This hypothesis is discussed in this study. The review of the literature reveals nuances of behavioural finance theory, and allows us to better understand the regime switching behaviour in the market. The object of empirical study is the US sovereign debt market. We use the Markov Regime-Switching ARCH (SWARCH) model to analyse data. The results show that there is high volatility regime in both the 2012 and 2017 bonds US market, which significantly affects bond prices.

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Sustainable and Secure Development: Facet of Personal Financial Issues

Cited by 36 publications

References 0 publications

Overconfidence, risk aversion and individual financial decisions in experimental asset markets

Overconfidence, risk aversion and individual financial decisions in experimental asset markets

Family business and business dynasties: A case study of Russia

The impact of regime-switching behaviour of price volatility on efficiency of the US sovereign debt market

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