We document strong positive correlation between changes in institutional ownership and
returns measured over the same period. The result suggests that either institutional investors …

… “Nofsinger does an incredible job explaining why we sometimes make poor investing
decisions. Read this book and save your wallet from self-inflicted pain and anguish!” …

Using brokerage account data from China, we study investment decision making in an
emerging market. We find that Chinese investors make poor trading decisions: the stocks they …

The general level of optimism/pessimism in society is reflected by the emotions of financial
decision-makers. Because these emotions are correlated across economic participants, our …

We review the field of behavioral finance ak it relates to investors. Specifically, we-examine
commořTīīīēstment mistakes caused by an investor's cognitive and emotional weaknesses …

This study shows that international firms listing their shares on the New York Stock Exchange
(NYSE) or the London Stock Exchange (LSE) experience a significant increase in visibility, …

Behavioral finance is a relatively new but quickly expanding field that seeks to provide
explanations for people’s economic decisions by combining behavioral and cognitive …

… Finally, we are deeply indebted to our families, especially Linda Baker and Anna Nofsinger.
These silent partners helped make this book possible as a result of their encouragement, …

We examine the operating performance of Thai firms after they go public. Overall, we find
that their performance declines. We then explore the relationship between managerial …

This study investigates the trading behavior of institutional and individual investors around
both firm-specific news releases in the Wall Street Journal and macro-economic …