Just how much do individual investors lose by trading?
Individual investor trading results in systematic and economically large losses. Using a
complete trading history of all investors in Taiwan, we document that the aggregate portfolio …
complete trading history of all investors in Taiwan, we document that the aggregate portfolio …
Do stocks outperform treasury bills?
H Bessembinder - Journal of financial economics, 2018 - Elsevier
The majority of common stocks that have appeared in the Center for Research in Security
Prices (CRSP) database since 1926 have lifetime buy-and-hold returns less than one-month …
Prices (CRSP) database since 1926 have lifetime buy-and-hold returns less than one-month …
Earnings management and firm performance following open‐market repurchases
Both post‐repurchase abnormal returns and reported improvement in operating
performance are driven, at least in part, by pre‐repurchase downward earnings …
performance are driven, at least in part, by pre‐repurchase downward earnings …
Opt-in stewardship: Toward an optimal delegation of mutual fund voting authority
SJ Griffith - Tex. L. Rev., 2019 - HeinOnline
Mutual funds are now the center of power in corporate governance. After decades of strong
growth, mutual funds now own about one-quarter of the total US stock market.'The" Big …
growth, mutual funds now own about one-quarter of the total US stock market.'The" Big …
Financial advice and individual investor portfolio performance
MM Kramer - Financial Management, 2012 - Wiley Online Library
This paper investigates whether financial advisers add value to individual investors' portfolio
decisions by comparing portfolios of advised and self‐directed (execution‐only) Dutch …
decisions by comparing portfolios of advised and self‐directed (execution‐only) Dutch …
Conditional performance measurement using portfolio weights: Evidence for pension funds
This paper combines the use of portfolio holdings data and conditioning information to
create a new performance measure. Our conditional weight-based measure has several …
create a new performance measure. Our conditional weight-based measure has several …
Do managers intentionally use repurchase tender offers to signal private information? Evidence from firm financial reporting behavior
Signaling is the most commonly cited explanation for stock repurchases in the academic
literature. Yet, there is little evidence on whether managers intentionally use repurchases as …
literature. Yet, there is little evidence on whether managers intentionally use repurchases as …
Why indexing works
We develop a simple stock selection model to explain why active equity managers tend to
underperform a benchmark index. We motivate our model with the empirical observation that …
underperform a benchmark index. We motivate our model with the empirical observation that …
Whether stock market provides high returns: evidence from skewness of individual stocks in China
T Ma, S Li, X Feng - China Finance Review International, 2021 - emerald.com
Purpose This paper studies whether individual stocks provide higher returns than
government bond in the Chinese market. Design/methodology/approach The authors …
government bond in the Chinese market. Design/methodology/approach The authors …
Causal entropic forces, narratives and self-organisation of capital markets
R Bocher - Journal of Interdisciplinary Economics, 2023 - journals.sagepub.com
The intersubjective markets hypothesis is revisited with respect to causal entropic principles.
While the financial system is assumed to naturally evolve towards uncertainty, a …
While the financial system is assumed to naturally evolve towards uncertainty, a …