MoneyScience News |
- Blog Post: TheAlephBlog: On Bond Market Illiquidity (and more)
- Published / Preprint: Confusion of Confusions: A Test of the Disposition Effect and Momentum
- Published / Preprint: Differences of Opinion, Endogenous Liquidity, and Asset Prices
- Published / Preprint: Home away from Home: Geography of Information and Local Investors
- Published / Preprint: Rumor Has It: Sensationalism in Financial Media
- Published / Preprint: Do Individual Investors Treat Trading as a Fun and Exciting Gambling Activity? Evidence from Repeated Natural Experiments
- Vendor News: Infosys Completes Acquisition of Skava
- Published / Preprint: Impossibility Theorems and the Universal Algebraic Toolkit. (arXiv:1506.01315v1 [cs.CC])
| Blog Post: TheAlephBlog: On Bond Market Illiquidity (and more) Posted: 04 Jun 2015 12:47 AM PDT Photo Credit: Moyan Brenn || What’s more Illiquid than the desert?read more... Visit MoneyScience for the Complete Article.      |
| Published / Preprint: Confusion of Confusions: A Test of the Disposition Effect and Momentum Posted: 03 Jun 2015 11:29 PM PDT Using investor-level data, I document that the disposition effect is absent following a stock split; inattentive investors may fail to split-adjust their reference point, confusing the winner versus loser status of their holdings. Consistent with the disposition effect impeding the incorporation of news, ex-date returns are significantly higher for split stocks with higher gains. However, the... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: Differences of Opinion, Endogenous Liquidity, and Asset Prices Posted: 03 Jun 2015 11:29 PM PDT This paper studies how investors' differences of opinion affect liquidity and asset prices. In our economy, excessively optimistic investors are subject to an endogenous funding constraint that prevents default due to ex-ante-limited commitment. When the funding constraint binds, optimists use their savings to increase their consumption share, deterring default. This allows them to place... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: Home away from Home: Geography of Information and Local Investors Posted: 03 Jun 2015 11:29 PM PDT We develop a 10-K-based multidimensional measure of firm locations. Using this measure, we show that firm-level information is geographically distributed and institutional investors are able to exploit the resulting information asymmetry. Specifically, institutional investors overweigh firms whose 10-K frequently mentions the investors' state even when those firms are not headquartered locally... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: Rumor Has It: Sensationalism in Financial Media Posted: 03 Jun 2015 11:29 PM PDT The media has an incentive to publish sensational news. We study how this incentive affects the accuracy of media coverage in the context of merger rumors. Using a novel dataset, we find that accuracy is predicted by a journalist's experience, specialized education, and industry expertise. Conversely, less accurate stories use ambiguous language and feature well-known firms with broad readership... Visit MoneyScience for the Complete Article.    |
| Posted: 03 Jun 2015 11:29 PM PDT We hypothesize that individual investors treat trading as a fun and exciting gambling activity, implying substitution between this activity and alternative gambling opportunities. To examine this hypothesis, we study the lottery jackpots and the trading of individual investors in Taiwan. When the jackpots exceed 500 million Taiwan dollars, the trading volume decreases between 5.2% and 9.1% among... Visit MoneyScience for the Complete Article.    |
| Vendor News: Infosys Completes Acquisition of Skava Posted: 03 Jun 2015 09:06 PM PDT Infosys today completed the acquisition of Kallidus Inc. (d.b.a Skava) and its affiliate, a leading provider of digital experience solutions, including mobile commerce and in-store shopping experiences to large retail clients. Visit MoneyScience for the Complete Article.    |
| Posted: 03 Jun 2015 05:37 PM PDT We elucidate a close connection between the Theory of Judgment Aggregation (more generally, Evaluation Aggregation), and a relatively young but rapidly growing field of universal algebra, that was primarily developed to investigate constraint satisfaction problems. Our connection yields a full classification of non-binary evaluations into possibility and impossibility domains both under the... Visit MoneyScience for the Complete Article.    |
| You are subscribed to email updates from The Complete MoneyScience Reloaded To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |