Current Topics on Retail Investor Behavior – Insights from the 3rdEuropean Retail Investment Conference (ERIC), April 2015

2015 ◽  
Vol 48 (4) ◽  
pp. 679-691
Author(s):  
Hans-Peter Burghof, ◽  
Felix Fritz, ◽  
Carolin Koch
Keyword(s):  
Investor Behavior ◽  
Retail Investor

Background Noise? TV Advertising Affects Real-Time Investor Behavior

2021 ◽  
Author(s):  
Jūra Liaukonytė ◽  
Alminas Žaldokas
Keyword(s):  
Real Time ◽  
Trading Volume ◽  
Data Gathering ◽  
Financial Information ◽  
Investor Behavior ◽  
Tv Advertising ◽  
Hourly Data ◽  
National Advertising ◽  
Retail Investor ◽  
Retail Trading

Using minute-by-minute TV advertising data covering some 300 firms, 327,000 ads, and $20 billion in ad spending, we study the real-time effects of TV advertising on investors’ searches for online financial information and subsequent trading activity. Our identification strategy exploits the fact that viewers in different U.S. time zones are exposed to the same programming and national advertising at different times, allowing us to control for contemporaneous confounding events. We find that an average TV ad leads to a 3% increase in EDGAR (Electronic Data Gathering, Analysis, and Retrieval) system queries and an 8% increase in Google searches for financial information within 15 minutes of the airing of that ad. These searches translate into larger trading volume on the advertiser’s stock, driven primarily by retail investors. The findings on retail investor ad-induced trading are corroborated with hourly data from Robinhood, a popular retail trading platform. We also show that ads induce searches and trading of companies other than the advertiser, including of close rivals. Altogether, our findings suggest that advertising originally intended for consumers has a nonnegligible effect on financial markets. This paper was accepted by Karl Diether, finance.

scholarly journals Faktor-Faktor Yang Dipertimbangkan Investor Dalam Melakukan Investasi

2011 ◽  
Vol 4 (3) ◽  
Author(s):  
Linda Ariany Mahastanti
Keyword(s):  
Educational Level ◽  
Investment Decision ◽  
Investment Decisions ◽  
Demographic Variables ◽  
Investor Behavior ◽  
Primary Data ◽  
High Educational Level ◽  
Behavioral Variables ◽  
Retail Investor ◽  
Economic Perspectives

Investor has many options in an investment with the current number of investment instruments. Previous studies of retail investor behavior have examined motivation from economic perspectives or studied relationships between economic, behavioral and demographic variables. Examination of the various utility-maximization and behavioral variables underlying individual investor behavior provides a more comprehensive understanding of the investment decision process. This research will examine the seven factors that considered investors' decisions to invest, and investor behavior in taking the decision to invest. The data used are primary data that obtained by sending questionnaires through via email at Danareksa investors domiciled in Salatiga and Semarang. The analysis method used is tabulation frequencies and cross tabulation (Crosstab). Based on the results of the research, it is known that the factors that considered investor' decisions is Neutral Information and Accounting Information factor. For the result of demographic aspects effect research against investment decision is investor who are aged 25-29 and 50-54 years which is considered all of the factors. While for sex, female consider many factors than male. For educational level with high educational level makes the investor pay attention to the factors that associated with investment decisions, and investors who invest for 1-3 years old considering many factors before making investment decisions.

The Impact of Broker Geography on Retail Investor Behavior

2021 ◽  
Author(s):  
Daniel Bradley ◽  
William Christopher Gerken ◽  
Jared Williams
Keyword(s):  
Investor Behavior ◽  
Retail Investor ◽  
The Impact

Retail Investor Behavior and Financial Retail Products

2014 ◽  
Vol 47 (1) ◽  
pp. 177-189
Author(s):  
Hans-Peter Burghof, ◽  
Carolin Koch, ◽  
Stephan Meyer, ◽  
Sebastian Schroff
Keyword(s):  
Investor Behavior ◽  
Retail Investor ◽  
Retail Products

Retail Investor Behavior, Cryptocurrencies, and Financial Market Innovation – Insights from the 5th European Retail Investment Conference (ERIC)

2020 ◽  
Vol 53 (2) ◽  
pp. 273-283
Author(s):  
Hans-Peter Burghof ◽  
Achim Fecker ◽  
Patrick Jaquart ◽  
Benedikt Notheisen
Keyword(s):  
Decision Making ◽  
Financial Market ◽  
Market Microstructure ◽  
Investor Behavior ◽  
Theoretical Research ◽  
Retail Investors ◽  
Retail Investor ◽  
Fundamental Value ◽  
Impact Of Technology ◽  
The Impact

Abstract The 5th European Retail Investment Conference was hosted at Börse Stuttgart, Germany, from April 10th to 12th 2019. The conference chairs invited academics and practitioners to participate and discuss empirical and theoretical research focusing on retail investor products and services, the impact of technology on retail investors, investors’ decision-making, investor protection schemes, and market microstructure. Albert Menkveld, Professor of Finance at Vrije Universiteit Amsterdam and Fellow at the Tinbergen Institute, held the keynote about the fundamental value of bitcoin.

scholarly journals DO INVESTORS REALLY REGRET?

2019 ◽  
pp. 1-3
Author(s):  
Mrs. A. Sumera ◽  
M. Srinivasa Reddy
Keyword(s):  
Stock Market ◽  
Behavioral Finance ◽  
Portfolio Management ◽  
Natural Process ◽  
Investor Behavior ◽  
Wide Scope ◽  
Adequate Knowledge ◽  
Retail Investors ◽  
Retail Investor ◽  
Portfolio Investments

“There are only a few people who claim to have no regrets in life and finances”. Retail investors are no exception. Investment is a natural process wherein,an individual wants every rupee to earn even more rupees.Eventually,investors get too excited at times about returns and certainly land up in regret zone.Though,behavioral finance has emerged as interdisciplinary, complimentary science to explain stock market phenomenon and regret analysis is one thrust area where much research is sporadic,especially in India.To explore the likelihood of regret and its impact on retail investor behavior in portfolio investments,the present study is conducted.Unfolding the regrets of retail investors while lack of adequate knowledge about portfolio management and peer effect as major reasons for such regrets.However,investors did exhibit regrets in big way as they perceive the stock market to be volatile and risky.Further,there are is wide scope for more studies viz., analysis of variance in regrets among different groups of investors and studies against different demographic factors etc.,

Beauty-Contests in the Age of Financialization: Information Activism and Retail Investor Behavior

2018 ◽  
Vol 33 (1) ◽  
pp. 31-49 ◽  
Author(s):  
Laura Rickett ◽  
Pratim Datta
Keyword(s):  
New York ◽  
Information Asymmetry ◽  
Trading Volume ◽  
Abnormal Returns ◽  
Investor Behavior ◽  
Economic Conditions ◽  
Online Information ◽  
Sources Of Information ◽  
Beauty Contests ◽  
Retail Investor

Keynes (The General Theory of Employment, Interest and Money, Harcourt Brace and Co., New York, 1936) had rightfully argued that picking stocks is akin to a beauty contest. The chances of winning are amplified if one's choice matches the likelihood of the panel's choice. In this era of financialization, where profit-making has shifted to speculative sways rather than fundamental trade and commodity production measures (Krippner, Socio-Econ Rev 3(2): 173-208, 2005), similar beauty contests have become even more acute. Online, real-time media channels along with pervasive investments applications have ushered in unprecedented online financial information and retail investor interest, ranging from dealing in penny stocks to sentiment-based trading. More than information sources, similar investment sites compete to recommend investment directions and strategies, not driven by strict fundamentals used by “arbitrageurs” or rational speculators but on pseudo-signals proffered by various information investment channels with varying degrees of credibility. This behavior, referred to herein as information activism, concomitantly adds a sociopsychological dimension to the concept of financialization (Lagoarde-Segot, Int Rev Financial Anal 2016) – wherein technology-driven information reach and range contribute to financial dominance of financial actors and practices. Using information activism as a lens, this research empirically evidences the extent to which information activism affects retail investor behavior under various market conditions. This study examines the differential effects of two primary, albeit reputable, sources of information activism: an investment news channel (CNBC – Mad Money) and an online financial blog (SeekingAlpha), and the effect on investor behavior during the 2008 financial crisis. In identifying the specific downstream effects of information activism on capital markets and investor behavior, factors related to investor behavior, such as trading volume and price reaction, are analyzed surrounding information activism events. Results indicate that retail investors appear to rely on online information activists during uncertain economic conditions. Findings denote that abnormal returns are associated with information activism during uncertain economic conditions and for buy recommendations when information asymmetry is high. Abnormal trading volume is also associated with information activism during economic uncertainty and with buy recommendations when information asymmetry is high particularly for stocks exchanges where unsophisticated investors tend to trade more heavily.

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