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Articoli di riviste sul tema "Preference stock"

Autore: Grafiati

Pubblicato: 4 giugno 2021

Ultima modifica: 5 febbraio 2022

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1

Kumar, Alok. "Dynamic Style Preferences of Individual Investors and Stock Returns." Journal of Financial and Quantitative Analysis 44, no. 3 (June 2009): 607–40. http://dx.doi.org/10.1017/s0022109009990020.

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AbstractThis study shows that individual investors systematically shift their preferences across extreme style portfolios (small vs. large, value vs. growth). These preference shifts are influenced by past style returns and earnings differentials, and advice from investment newsletters, but are unaffected by innovations in macroeconomic variables or shifts in expectations about future cash flows. Furthermore, investors’ dynamic style preferences influence returns along multiple dimensions: i) the contemporaneous relation between style returns and style-level preference shifts is strong, ii) th

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Gupta, Nilesh, and Joshy Jacob. "The Interplay Between Sentiment and MAX: Evidence from an Emerging Market." Journal of Emerging Market Finance 20, no. 2 (January 21, 2021): 192–217. http://dx.doi.org/10.1177/0972652720969511.

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Investors with lottery preferences are known to concentrate on stocks with rare but extreme past returns. We investigate the extent to which lottery preference, measured by the MAX variable, varies with the market-wide irrational sentiment. We find that the high-MAX stocks have higher overpricing in a high-sentiment market and earn a lower alpha, compared to the low-sentiment market. Accordingly, the poor returns earned by a long-short portfolio of stocks with extreme MAX values are primarily due to the overvaluation of the high MAX-portfolio during the high sentiment phase. The higher stock v

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Yang and Nguyen. "Skewness Preference and Asset Pricing: Evidence from the Japanese Stock Market." Journal of Risk and Financial Management 12, no. 3 (September 12, 2019): 149. http://dx.doi.org/10.3390/jrfm12030149.

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Previous studies have shown that investor preference for positive skewness creates a potential premium on negatively skewed assets. In this paper, we attempt to explore the connection between investors’ skewness preferences and corresponding demand for a risk premium on asset returns. Using data from the Japanese stock market, we empirically study the significance of risk aversion with skewness preference that potentially delivers a premium. Compared to studies on other stock markets, our finding suggests that Japanese investors exhibit preference for positively skewed assets, but do not displ

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4

Shiva, Atul, and Manjit Singh. "Stock hunting or blue chip investments?" Qualitative Research in Financial Markets 12, no. 1 (November 13, 2019): 1–23. http://dx.doi.org/10.1108/qrfm-11-2018-0120.

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Purpose The purpose of this paper is to study the individual investors’ preferences towards stock selection in social media environments. The study is conducted to understand the implications and conceptual directions for the corporates and financial advisors to understand the choices of individual investors applied in financial markets. Further, this study aims to examine the selection of the most preferred social media platform and behavioral intentions of investors towards selection of investment portfolios in Indian stock markets. Design/methodology/approach A questionnaire was designed ba

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5

Kuzmanovic, Marija, Dragana Makajic-Nikolic, and Nebojsa Nikolic. "Preference Based Portfolio for Private Investors: Discrete Choice Analysis Approach." Mathematics 8, no. 1 (December 24, 2019): 30. http://dx.doi.org/10.3390/math8010030.

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Behavioral finance literature shows that in addition to Markowitz’s rate of return and risk, private investors consider various other stock features. This paper discusses the problem of determining investors’ preferences for portfolio selection criteria, as well as the problem of optimal portfolio determination from the investors’ point of view. The study primarily focuses on private investors who are interested in one-time investments rather than stock trading. We use a discrete choice analysis and hierarchical Bayes method to measure individual investors’ preferences, and a logit model to de

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6

Zhang, Xiao-Jun. "Book-to-Market Ratio and Skewness of Stock Returns." Accounting Review 88, no. 6 (June 1, 2013): 2213–40. http://dx.doi.org/10.2308/accr-50524.

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ABSTRACT: This study demonstrates that stocks with low book-to-market ratios, also known as glamour stocks, have significantly more positive skewness in their return distributions compared to the return distributions of value stocks with high book-to-market ratios. The premium (discount) investors apply to these glamour (value) stocks also correlates significantly with the difference in return skewness. These findings suggest that the value/glamour-stock puzzle is partially explained by investor preference for positive skewness in stock returns. Such preference for skewness, which is consisten

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7

NYAUPANE, NARAYAN, JEFFREY GILLESPIE, KENNETH MCMILLIN, ROBERT HARRISON, and ISAAC SITIENEI. "SELECTION OF BREEDING STOCK BY U.S. MEAT GOAT PRODUCERS." Journal of Agricultural and Applied Economics 49, no. 3 (April 20, 2017): 416–37. http://dx.doi.org/10.1017/aae.2017.6.

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AbstractUsing nationwide survey data, we investigate U.S. meat goat producer preferences and willingness to pay for meat goat breeding stock attributes. Discrete choice experiments were employed, and mixed logit and latent class models were used for analysis. Results showed that producers preferred animals that were highly masculine/feminine, had good structure and soundness, and were of the Boer breed, whereas they preferred fewer animals that were older, of Kiko and Spanish breeds, and priced higher. Significant preference heterogeneity was found among the respondents. Larger-scale producers

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8

O'Brien, John R. "Experimental Stock Markets with Controlled Risk Preferences." Journal of Accounting, Auditing & Finance 7, no. 2 (April 1992): 117–34. http://dx.doi.org/10.1177/0148558x9200700201.

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In this paper the empirical validity of the binary lottery preference inducing technique is tested in a real world market institution. In each market the potential gains to exchange arise from induced risk preferences, and the predicted competitive equilibrium is equivalent to the Pareto optimal risk sharing allocation. Price convergence to (and near) the competitive equilibrium price was rapid in each market, and most trades were individually rational with respect to induced certainty equivalents. This evidence implies that preferences can be induced in an oral double auction institution, usi

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9

Mason, Helen B., and Roger M. Shelor. "Stock Splits: An Institutional Investor Preference." Financial Review 33, no. 4 (November 1998): 33–46. http://dx.doi.org/10.1111/j.1540-6288.1998.tb01395.x.

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10

Liu, Chun-Wen, and Chao Deng. "Stated preferences of Taiwanese investors for financial products." Qualitative Research in Financial Markets 11, no. 4 (November 4, 2019): 411–28. http://dx.doi.org/10.1108/qrfm-06-2018-0079.

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Purpose The popularity of wealth management in Taiwan has unleashed tense competition among financial advisors. Consumers are now more conscious of their financial services purchasing behavior. This paper aims to provide insights into local-specific investors’ characteristics and consumers’ financial product preferences and to introduce a different concept to identify localization-suitable products. Design/methodology/approach To understand customers’ preferred products, the paper examines consumers’ financial behavior by analyzing preference characteristics using data collected from Taiwanese

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11

YANG, YINAN, and QIAN WANG. "INSURANCE INCLUSION, TIME PREFERENCE AND STOCK INVESTMENT OF THE CHINESE HOUSEHOLDS." Singapore Economic Review 63, no. 01 (February 8, 2018): 27–44. http://dx.doi.org/10.1142/s0217590817440039.

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Using the China Household Finance Survey data in 2011, the estimation results of structural equation modeling demonstrate that the respondents with higher time preference rate have a significant higher probability of investing in stocks, which implies that the short-term households will prefer stock investment. The social insurance programs and insurance policies held by the family will have a significantly direct positive effect in promoting stock investment and also a significantly direct positive effect on the respondent’s time preference, which could further indirectly increase the family’

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12

Autore, Don M., and Jared R. DeLisle. "Skewness Preference and Seasoned Equity Offers." Review of Corporate Finance Studies 5, no. 2 (January 25, 2016): 200–238. http://dx.doi.org/10.1093/rcfs/cfw001.

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We find that the degree of expected idiosyncratic skewness in seasoned equity issuers’ stock returns is an important determinant of flotation costs and subsequent abnormal stock performance. High skewness issuers incur significantly greater offer price discounts, particularly when institutional share allocation is largest, pay higher gross underwriting spreads, and exhibit poorer stock performance in the three years after issuance, all compared to low skewness issuers. These results suggest that skewness-induced overpricing increases the flotation costs of seasoned equity offers and leads to p

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13

Wen, Fenghua, Zhifang He, and Xiaohong Chen. "Investors’ Risk Preference Characteristics and Conditional Skewness." Mathematical Problems in Engineering 2014 (2014): 1–14. http://dx.doi.org/10.1155/2014/814965.

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Perspective on behavioral finance, we take a new look at the characteristics of investors’ risk preference, building the D-GARCH-M model, DR-GARCH-M model, and GARCHC-M model to investigate their changes with states of gain and loss and values of return together with other time-varying characteristics of investors’ risk preference. Based on a full description of risk preference characteristic, we develop a GARCHCS-M model to study its effect on the return skewness. The top ten market value stock composite indexes from Global Stock Exchange in 2012 are adopted to make the empirical analysis. Th

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14

Zopounidis, Constantin, Michael Doumpos, and Stelios Zanakis. "Stock Evaluation Using a Preference Disaggregation Methodology." Decision Sciences 30, no. 2 (March 1999): 313–36. http://dx.doi.org/10.1111/j.1540-5915.1999.tb01612.x.

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Arora, Sangeeta, and Kanika Marwaha. "Variables influencing preferences for stocks (high risk investment) vis-à-vis fixed deposits (low-risk investment)." International Journal of Law and Management 56, no. 4 (July 8, 2014): 333–43. http://dx.doi.org/10.1108/ijlma-07-2013-0032.

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Purpose – The paper, an exploratory attempt, aims to analyze the perception of individual investors of stock market of Punjab towards investing in stocks vis-à-vis fixed deposits. For the purpose, the most and least influencing variables affecting the decisions of individual stock investors to invest in stocks and fixed deposits were gauged and the comparison for such variables influencing their preferences was conducted. Design/methodology/approach – A pre-tested, well-structured questionnaire which was administered personally and the responses of 241 respondents were analyzed. The responses

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Baltussen, Guido, Sjoerd van Bekkum, and Bart van der Grient. "Unknown Unknowns: Uncertainty About Risk and Stock Returns." Journal of Financial and Quantitative Analysis 53, no. 4 (July 18, 2018): 1615–51. http://dx.doi.org/10.1017/s0022109018000480.

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Stocks with high uncertainty about risk, as measured by the volatility of expected volatility (vol-of-vol), robustly underperform stocks with low uncertainty about risk by 8% per year. This vol-of-vol effect is distinct from (combinations of) at least 20 previously documented return predictors, survives many robustness checks, and holds in the United States and across European stock markets. We empirically explore the pricing mechanism behind the vol-of-vol effect. The evidence points toward preference-based explanations and away from alternative explanations. Collectively, our results show th

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17

Yodmun, Satit, and Wichai Witayakiattilerd. "Stock Selection into Portfolio by Fuzzy Quantitative Analysis and Fuzzy Multicriteria Decision Making." Advances in Operations Research 2016 (2016): 1–14. http://dx.doi.org/10.1155/2016/9530425.

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This paper presents a stock selection approach assisted by fuzzy procedures. In this approach, stocks are classified into groups according to business types. Within each group, the stocks are screened and then ranked according to their investment weight obtained from fuzzy quantitative analysis. Groups were also ranked according to their group weight obtained from fuzzy analytic hierarchy process (FAHP) and technique for order preference by similarity to ideal solution method (TOPSIS). The overall weight for each stock was then derived from both of these weights and used for selecting a stock

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Gou, Xiaoju, and Limei Bie. "Research on Investment Preference and the MAX Effect in Chinese Stock Market." Journal of Systems Science and Information 4, no. 6 (December 25, 2016): 519–33. http://dx.doi.org/10.21078/jssi-2016-519-15.

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AbstractInvestors prefer to invest the stocks with high history returns, which results in that the return of the stock with high history maximum return is often lower than that with low history maximum return, i.e., the MAX effect. We show that the MAX effect is also significant in China stock market, that is, there is a significant negative relationship between maximum return and expected return. We then conduct portfolio analysis and Fama-Macbeth cross-sectional regression and find that range of price and turnover rate can explain the MAX effect in a certain extent, idiosyncratic volatility

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Kudou, Takako, and Nakako Matsumoto. "Labeled ingredients and preference for instant soup stock." Journal for the Integrated Study of Dietary Habits 25, no. 4 (2015): 283–92. http://dx.doi.org/10.2740/jisdh.25.283.

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Shahidin, Ainon Mardhiyah, Shahirulliza Shamsul Ambia Othman, and Nur Syahirah Mohd Razali. "Stock portfolio selection based on investors’ risk preference." Journal of Physics: Conference Series 1988, no. 1 (July 1, 2021): 012044. http://dx.doi.org/10.1088/1742-6596/1988/1/012044.

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Wafula, Lugongo Maurice, and Dr Sifunjo E. Kisaka. "AN EMPIRICAL STUDY OF PRICE CLUSTERING ON THE NAIROBI SECURITIES EXCHANGE." International Journal of Finance and Accounting 2, no. 2 (February 14, 2017): 23. http://dx.doi.org/10.47604/ijfa.295.

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Purpose: The purpose of this study was to empirically investigate price clustering phenomenon on the Nairobi Securities Exchange for the period 2009 to 2013.Materials and methods: The study used secondary sources of data obtained from the Nairobi Securities exchange. The study revealed that there has been a preference by investors for stock whose prices end with the digit 5 and this accounted for 67.88 percent of all the stocks examined and was followed by stocks whose prices ended with the digit 0 which accounted for 4.55 percent. In order to establish the determinants of this observed behavi

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22

Franke, Günter, and Erik Lüders. "Instability of Financial Markets and Preference Heterogeneity." Advances in Decision Sciences 2010 (June 23, 2010): 1–27. http://dx.doi.org/10.1155/2010/791025.

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This paper presents a simple rational expectations model of intertemporal asset pricing relating instability of stock return characteristics to heterogeneity in investor preferences. Heterogeneity is likely to generate declining aggregate relative risk aversion. This leads to variability in expected asset returns, volatility, and autocorrelation. The stronger this variability is, the more heterogeneous preferences are, implying more instability of financial markets. Stock market crashes may be observed if relative risk aversion differs strongly across investors.

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Pokharel, Post Raj. "A Survey of Investors Preference on Stock Market : A Case of Nepal Stock Exchange." Saptagandaki Journal 9 (August 26, 2018): 53–61. http://dx.doi.org/10.3126/sj.v9i0.20880.

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This paper shows investors preference on stock market of Nepal Stock Exchange (NEPSE). The study is based on survey method using structured questionnaire. The results demonstrated that investors were found to have investment interest in secondary market. The reasons for selecting shares are mostly liquidity and high rate of earning. The investors' perception regarding the influencing factors for the investment decision in secondary market of NEPSE is the advice of brokers and then movement of indices. The news in daily newspaper and market sentiments are viewed as least influencing factors for

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Qiao, Zhuo, Ephraim Clark, and Wing-Keung Wong. "Investors’ preference towards risk: evidence from the Taiwan stock and stock index futures markets." Accounting & Finance 54, no. 1 (September 26, 2012): 251–74. http://dx.doi.org/10.1111/j.1467-629x.2012.00508.x.

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Chen, Junying, Haoyu Zeng, and Fei Yang. "Parameter estimation for employee stock ownerships preference experimental design." Journal of Applied Statistics 43, no. 8 (January 24, 2016): 1525–40. http://dx.doi.org/10.1080/02664763.2015.1117583.

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Narayan, Paresh Kumar, and Seema Narayan. "Do opinion polls on government preference influence stock returns?" Journal of Behavioral and Experimental Finance 30 (June 2021): 100493. http://dx.doi.org/10.1016/j.jbef.2021.100493.

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Silver, Steven D. "Representing Social Construction in Consumer Activities: Single-Period and Multi-Period Activity Production." Journal of Interdisciplinary Economics 5, no. 3 (July 1994): 139–56. http://dx.doi.org/10.1177/02601079x9400500302.

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Consumers are seen as limited decision makers who set short-term activity levels from their budgets, stocks of experience, and values following a preference-maximizing heuristic. Disturbances to activity levels in their evolution by exogeneties of social and economic environments, and the feedback of activity levels which agents have no systematic ability to anticipate, reset stock and value levels through the interactive relationships among endogenous variables. Agents then solve the maximization problem for a subsequent period using stock and value levels as modified by the evolutionary proc

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Tashfeen, Rubeena, Saad Ullah, and Abubaker Naeem. "Investor Behavior: Does Tax Avoidance and Liquidity Preference Culture Drive Equity Prices in Pakistan." Journal of Finance and Accounting Research 2, no. 2 (August 31, 2020): 63–91. http://dx.doi.org/10.32350/jfar/2020/0202/852.

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The present study investigates market-wide herding of stock market, industry indices of Pakistan, China and USA, A-cross border herding of Pakistan stock market with Chinese stock market and USA stock market. With Cross-Sectional-Absolute-Deviation, to check whether geographical distance matters to influence the stock markets or not and USA is its major influential, cannot be ignored. Market-wide herding in Pakistan is found only during 2004 and 2008 and A-cross border herding for Pakistan is only found from the USA which support asset pricing model and market efficiency. Pakistan market do no

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Gu, Ruitao, Qingjuan Chen, and Qiaoyun Zhang. "Portfolio Selection with respect to the Probabilistic Preference in Variable Risk Appetites: A Double-Hierarchy Analysis Method." Complexity 2021 (April 17, 2021): 1–14. http://dx.doi.org/10.1155/2021/5512770.

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Traditional portfolio selection models mainly obtain the optimized portfolio ratio by focusing on the prices of financial products. However, investors’ multiple preferences and risk appetites are also significant factors that should be taken into account. In consideration of these two factors simultaneously, we propose a double-hierarchy model in this paper. Specifically, the first hierarchy quantifies investors’ risk appetite based on a historical simulation method and probabilistic preference theory. This hierarchy can be utilized to describe investors’ variable risk appetites and ensure the

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Kim, Yoonmin, and Gab-Je Jo. "The Impact of Foreign Investors on the Stock Price of Korean Enterprises during the Global Financial Crisis." Sustainability 11, no. 6 (March 15, 2019): 1576. http://dx.doi.org/10.3390/su11061576.

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This paper investigates the impact and behavior of foreign equity investment on the price of the nine largest KOSPI (Korea Composite Stock Price Index) enterprises and Samsung Electronics preference stocks in terms of market capitalization during the global financial crisis (2 January 2007 to 30 December 2008). The empirical results indicate that foreign investors show strong, positive feedback trading behavior with regard to the stock price of Samsung Electronics, which is the largest KOSPI enterprise in terms of market capitalization. We also found evidence that the behavior of foreign inves

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Chazi, Abdelaziz, Alexandra Theodossiou, and Zaher Zantout. "Corporate payout-form: investors’ preference and catering theory." Managerial Finance 44, no. 12 (December 3, 2018): 1418–33. http://dx.doi.org/10.1108/mf-03-2018-0127.

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Purpose The purpose of this paper is to develop and validate new robust measures of investors’ preference for the form of regular corporate payout. Then, the paper adds to the empirical evidence on catering theory by examining managers’ catering to such preference. Design/methodology/approach The authors use the matching method to control for firm characteristics. The authors apply two robustness tests to validate the measures. The authors use the rigorous multivariate analysis. Findings US investors’ preference for regular dividends vs regular stock repurchases, being different forms of corpo

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Levy, Haim. "The Investment Home Bias with Peer Effect." Journal of Risk and Financial Management 13, no. 5 (May 11, 2020): 94. http://dx.doi.org/10.3390/jrfm13050094.

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Observed international diversification implies an investment home bias (IHB). Can bivariate preferences with a local domestic peer group rationalize the IHB? For example, it is argued that wishing to have a large correlation with the Standard and Poor’s 500 stock index (S&P 500 stock index) may induce an increase in the domestic investment weight by American investors and, hence, rationalize the IHB. While this argument is valid in the mean-variance framework, employing bivariate first-degree stochastic dominance (BFSD), we prove that this intuition is generally invalid. Counter intuitivel

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Wen, Fenghua, Zhifang He, Xu Gong, and Aiming Liu. "Investors’ Risk Preference Characteristics Based on Different Reference Point." Discrete Dynamics in Nature and Society 2014 (2014): 1–9. http://dx.doi.org/10.1155/2014/158386.

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Taking the stock market as a whole object, we assume that prior losses and gains are two different factors that can influence risk preference separately. The two factors are introduced as separate explanatory variables into the time-varying GARCH-M (TVRA-GARCH-M) model. Then, we redefine prior losses and gains by selecting different reference point to study investors’ time-varying risk preference. The empirical evidence shows that investors’ risk preference is time varying and is influenced by previous outcomes; the stock market as a whole exhibits house money effect; that is, prior gains can

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ZHANG, HAROLD H. "ENDOGENOUS SHORT-SALE CONSTRAINT, STOCK PRICES AND OUTPUT CYCLES." Macroeconomic Dynamics 1, no. 1 (January 1997): 228–54. http://dx.doi.org/10.1017/s1365100597002083.

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This study examines the effect of short-sale constraints on a stock market, in particular, on stock prices, trading volume, and the relationship between stock price movements and output cycles. The economic model features incomplete markets and heterogeneous agents. The short-sale constraint is endogenously determined in the economy and is a function of agents' risk aversion, time preference, and exogenous driving forces. The dynamic model is solved using a policy function iteration algorithm. We find that, for an array of reasonable time-preference parameters and risk-aversion coefficients, t

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DeLisle, R. Jared, and Nathan Walcott. "The Role of Skewness in Mergers and Acquisitions." Quarterly Journal of Finance 07, no. 01 (February 21, 2017): 1740001. http://dx.doi.org/10.1142/s2010139217400018.

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Investors prefer stocks with idiosyncratic skewness in their returns, which may be evidence of behavioral biases. Previous research suggests that skewness is related to the choice of target in corporate acquisitions, which may reflect CEOs’ behavioral biases. However, if the acquiring firms’ stock returns are also skewed, then the acquirer CEOs may rationally use their stock as currency in these deals. We investigate the skewness of the acquiring firm and the method of payment to determine if takeovers involving high skewness stocks are consistent with shareholder wealth maximization. We find

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Hedesström, Martin, Maria Andersson, Tommy Gärling, and Anders Biel. "Stock investors’ preference for short-term vs. long-term bonuses." Journal of Socio-Economics 41, no. 2 (April 2012): 137–42. http://dx.doi.org/10.1016/j.socec.2011.12.010.

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Cai, Huan, Meining Wang, and Chaonan Bai. "An Empirical Study of Investors’ Disposition Effect in China Based on Open Data from the Chinese Stock Markets." International Journal of Economics and Finance 10, no. 5 (April 13, 2018): 165. http://dx.doi.org/10.5539/ijef.v10n5p165.

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This paper focuses on investors’ different behavioral biases in China’s segmented stock markets and investigates the correlation between average holding periods, stock returns and investors’ disposition effect between 2010 and 2014. The results show that the disposition effect is prevalent in A-share market but is very weak in Growth Enterprise market and there is a lack of evidence to support the existence of disposition effect in B-share market. The study supports the view that investors’ experience and sophistication can partly help reduce investors’ behavioral biases in stock markets. It a

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K., Riyazahmed. "Investment motives and preferences – An empirical inquiry during COVID-19." Investment Management and Financial Innovations 18, no. 2 (April 9, 2021): 1–11. http://dx.doi.org/10.21511/imfi.18(2).2021.01.

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Following the COVID-19 breakout, investment in shares, mutual funds, and life insurance are witnessing a growing trend in India. Hence, examining the determinants of investor preferences is necessary to maintain a positive trend. This study analyzes the impact of investor motives and awareness on investor preferences using the data collected from 753 Indian investors in 2020. Factor analysis grouped the investment motives into six categories, namely Nature of investments, Future financial needs, Investor personal characteristics, Safety and stability of investments, Investor behavioral aspects

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Vestman, Roine. "Limited Stock Market Participation Among Renters and Homeowners." Review of Financial Studies 32, no. 4 (August 10, 2018): 1494–535. http://dx.doi.org/10.1093/rfs/hhy089.

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Abstract The stock market participation rate among homeowners is twice as high as among renters. This paper builds a life-cycle portfolio choice model with endogenous housing tenure choice. A stylized form of preference heterogeneity generates a substantial difference in participation rates. A majority of households have a large savings motive and choose to be homeowners and participate. A minority of households have a small savings motive and find it less worthwhile to participate. Fewer of these households become homeowners. Difference-in-difference regressions on panel data do not find evid

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Peswani, Shilpa, and Mayank Joshipura. "Leverage constraints or preference for lottery: What explains the low-risk effect in India?" Investment Management and Financial Innovations 18, no. 2 (April 16, 2021): 48–63. http://dx.doi.org/10.21511/imfi.18(2).2021.05.

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The study empirically investigates two theories that claim to explain the low-risk effect in Indian equity markets using a universe of stocks listed on the National Stock Exchange of India (NSE) from January 2000 to September 2018. Leverage constraints and preference for lottery are two major competing theories that explain the presence and persistence of the low-risk effect. While the leverage constraints theory argues that systematic risk drives low-risk anomaly and therefore risk should be measured using beta, lottery demand theory claims that irrational investor’s preference towards stocks

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Baucells, Manel, and Lin Zhao. "Everything in Moderation: Foundations and Applications of the Satiation Model." Management Science 66, no. 12 (December 2020): 5701–19. http://dx.doi.org/10.1287/mnsc.2019.3505.

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Models in which current utility depends solely on current consumption (a.k.a. time-separable preferences) are widely acknowledged to be unrealistic, especially when attempting to describe preferences over consumption rates. Alternatively, one may stipulate that instant utility also depends on a state, for example, some stock of past consumption. Escaping the gravitational pull of time separability, however, is difficult because (1) the behavioral axioms that characterize the state and the instant utility are not known, (2) how to elicit the preference parameters—most notably the initial level

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42

Amri, Muhtadin. "PENGARUH KOMPENSASI MANAJEMEN TERHADAP PENGHINDARAN PAJAK DENGAN MODERASI DIVERSIFIKASI GENDER DIREKSI DAN PREFERENSI RISIKO EKSEKUTIF PERUSAHAAN DI INDONESIA." Jurnal ASET (Akuntansi Riset) 9, no. 1 (November 13, 2017): 1. http://dx.doi.org/10.17509/jaset.v9i1.5253.

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Abstract. This study aims to examine the effect of management compensation on corporate tax evasion, as well as to examine the influence of board gender diversity and the executive risk preference on the relationship between management compensation and tax evasion. This study uses balanced panel data of 404 companies listed on Indonesia Stock Exchange from 2012 to 2015. The result shows that the management compensation has the negative effect of tax evasion. Furthermore, the use of moderating variables, the board gender diversity, and the executive risk preferences, shows that the compensation

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43

Wang, Di, Frank McGroarty, and Eng-Tuck Cheah. "Chronotype, Risk and Time Preferences, and Financial Behaviour." Algorithms 11, no. 10 (October 10, 2018): 153. http://dx.doi.org/10.3390/a11100153.

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This paper examines the effect of chronotype on the delinquent credit card payments and stock market participation through preference channels. Using an online survey of 455 individuals who have been working for 3 to 8 years in companies in mainland China, the results reveal that morningness is negatively associated with delinquent credit card payments. Morningness also indirectly predicts delinquent credit card payments through time preference, but this relationship only exists when individuals’ monthly income is at a low and average level. On the other hand, financial risk preference account

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44

Matthews, Gilbert E. "Impact of Contractual Rights on Preferred Stock Valuations in Delaware." Business Valuation Review 38, no. 2 (December 2019): 92–102. http://dx.doi.org/10.5791/19-00001.1.

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The rights and the value of preferred stock have been the subject of several Delaware court decisions. These decisions are particularly significant for understanding the importance of contractual rights as the defining attribute affecting the valuation of preferred stock. Directors' fiduciary duties are primarily to common shareholders, while obligations to preferred shareholders are primarily contractual. Preferred stocks' contractual rights, as interpreted in these decisions, directly affects the value of the preferred and the common. When common shareholders control the board, the impact on

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45

Francis, Jesse, Katherine Thompson-Witrick, and Erin B. Perry. "104 President Oral Presentation Pick: Sensory analysis of horse treats: a comparison between horses and humans." Journal of Animal Science 98, Supplement_4 (November 3, 2020): 91. http://dx.doi.org/10.1093/jas/skaa278.166.

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Abstract Analysis of both palatability and consumer acceptance is a critical component of product development. Though consumer sensory analysis from owners is gaining interest in companion animal species, few data are available from equine owners. The objectives of this study were to evaluate both horse preference and horse owner rating of two equine treat products. Feeding preferences of adult stock-type horses (n = 10) age 13 ± 6, body weight 539 ± 41 kg, and body condition score 5.5 ± 0.5 were assessed via paired preference test conducted in an open-frame stock with a 15 second olfaction pe

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46

Dafermos, Yannis. "Liquidity preference, uncertainty, and recession in a stock-flow consistent model." Journal of Post Keynesian Economics 34, no. 4 (July 1, 2012): 749–76. http://dx.doi.org/10.2753/pke0160-3477340407.

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47

Mester, Loretta J. "Testing for Expense Preference Behavior: Mutual versus Stock Savings and Loans." RAND Journal of Economics 20, no. 4 (1989): 483. http://dx.doi.org/10.2307/2555729.

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48

Kono, Kazuyo. "Effects of dried bonito stock on the flavor preference and health." Journal for the Integrated Study of Dietary Habits 23, no. 3 (2012): 131–36. http://dx.doi.org/10.2740/jisdh.23.131.

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49

BISWAS, ANINDYA, and BISWAJIT MANDAL. "ESTIMATING PREFERENCE PARAMETERS FROM STOCK RETURNS USING SIMULATED METHOD OF MOMENTS." Annals of Financial Economics 11, no. 01 (March 2016): 1650005. http://dx.doi.org/10.1142/s2010495216500056.

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Abstract (sommario):

This study proposes a new way of solving standard dynamic problem based on Simulated Method of Moments (SMM) approach. It uses a newly introduced model of stock returns involving latent state variables and the regime-switching fundamentals and estimates three key preference parameters namely the Coefficient of Relative Risk Aversion, the Elasticity of Intertemporal Substitution and the subjective discount factor by suitably applying SMM and without directly using noisy consumption data. The estimates we found here seem to be relatively better than prevalent studies and very close to the true v

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Alves, Carlos, and Victor Mendes. "Mutual funds biased preference for the parent's stock: evidence and explanation." Applied Financial Economics 20, no. 16 (August 2010): 1309–20. http://dx.doi.org/10.1080/09603107.2010.491439.

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