Behavioral Finance: Investors, Corporations, and Markets

ISBN-13: 9780470499115 / Angielski / Twarda / 2010 / 768 str.

Robert W. Kolb; H. Kent Baker; John R. Nofsinger

Opis

A definitive guide to the growing field of behavioral finance This reliable resource provides a comprehensive view of behavioral finance and its psychological foundations, as well as its applications to finance. Comprising contributed chapters written by distinguished authors from some of the most influential firms and universities in the world, Behavioral Finance provides a synthesis of the most essential elements of this discipline, including psychological concepts and behavioral biases, the behavioral aspects of asset pricing, asset allocation, and market prices, as well as investor behavior, corporate managerial behavior, and social influences.

• Uses a structured approach to put behavioral finance in perspective
• Relies on recent research findings to provide guidance through the maze of theories and concepts
• Discusses the impact of sub-optimal financial decisions on the efficiency of capital markets, personal wealth, and the performance of corporations

Behavioral finance has quickly become part of mainstream finance. If you need to gain a better understanding of this topic, look no further than this book.

Spis treści

PART I. FOUNDATION AND KEY CONCEPTS.

Chapter 1. Behavioral Finance: An Overview (Kent H. Baker, John R. Nofsinger).

Chapter 2. Traditional versus Behavioral Finance (Robert J. Bloomfield).

Chapter 3. Behavioral Finance: Application and Pedagogy in Business Education and Training (Rassoul Yazdipour, James A. Howard).

Chapter 4. Heuristics (Rules of Thumb) (Hugh Schwartz ).

Chapter 5. Neuroeconomics and Neurofinance (Richard L. Peterson).

Chapter 6. Emotional Finance (Richard J. Taffler, David A. Tuckett).

Chapter 7. Experimental Finance (Robert J. Bloomfield, Alyssa Anderson).

Chapter 8. The Psychology of Risk and Uncertainty (Victor Ricciardi).

Chapter 9. Psychological Influences on Financial Regulation and Policy (David Hirshleifer, Siew Hong Teoh).

PART II. PSYCHOLOGICAL CONCEPTS AND BEHAVIORAL BIASES.

Chapter 10. Disposition Effect (Markku Kaustia).

Chapter 11. Prospect Theory and Behavioral Biases (Morris Altman).

Chapter 12. Cumulative Prospect Theory (Haim Levy).

Chapter 13.  Overconfidence (Markus Glaser, Martin Weber).

Chapter 14. The Representativeness Bias (Richard J. Taffler).

Chapter 15. Familiarity Bias (Hisham S. Foad).

Chapter 16. Limited Attention (Siew Hong Teoh and Sonya S. Lim).

Chapter 17. Other Behavioral Biases (Michael Dowling, Brian M. Lucey).

PART III. BEHAVIORAL ASPECTS OF ASSET PRICING.

Chapter 18. Market Inefficiency (Raghavendra Rau).

Chapter 19. Preference and Belief Based Models (Adam Szyszka).

PART IV. BEHAVIORAL CORPORATE FINANCE.

Chapter 20. Enterprise Decision Making as Explained in Interview–Based Studies (Hugh Schwartz).

Chapter 21. Financing Decisions (Dirk Hackbarth).

Chapter 22. Capital Budgeting and Other Investing Decisions (Simon Gervais).

Chapter 23. Dividend Policy Decisions (Itzhak (Zahi) Ben–David).

Chapter 24. Loyalty, Agency Conflicts and Corporate Governance (Randall K. Morck).

Chapter 25. Initial Public Offerings (François Derrien).

Chapter 26. Mergers and Acquisitions (Ming Dong).

PART V. INVESTOR BEHAVIOR.

Chapter 27. Trust Behavior: The Essential Foundation of Financial Markets (Lynn A. Stout).

Chapter 28. Individual Investor Trading (Ning Zhu).

Chapter 29. Individual Investor Portfolios (Valery Polkovnichenko).

Chapter 30. Cognitive Abilities and Financing Decisions (George M Korniotis, Alok Kumar).

Chapter 31. Pension Participant Behavior (Julie R. Agnew).

Chapter 32. Institutional Investors (Tarun Ramadorai).

Chapter 33. Derivative Markets (Peter Locke).

PART VI. SOCIAL INFLUENCES.

Chapter 34. The Role of Culture and Finance (Rohan Williamson).

Chapter 35. Social Interactions and Investing (Mark Seasholes).

Chapter 36. Mood (Tyler Shumway).

Part VII. Answers to Chapter Discussion Questions.

Index.

O autorze

H. KENT BAKER, PHD, CFA, CMA, is University Professor of Finance and Kogod Research Professor at the Kogod School of Business, American University. He has published extensively in leading academic and professional finance journals including the Journal of Finance Journal of Financial and Quantitative Analysis,Financial Management, Financial Analysts Journal, Journal of Portfolio Management, and Harvard Business Review. Professor Baker is recognized as one of the most prolific authors in finance during the past fifty years. He has consulting and training experience with more than 100 organizations and has been listed in fifteen biographies.

JOHN R. NOFSINGER is an Associate Professor of Finance and Nihoul Faculty Fellow at Washington State University. He is one of the world′s leading experts in behavioral finance and is a frequent speaker on this topic at investment management conferences, universities, and academic conferences. Nofsinger has often been quoted or appeared in the financial media, including the Wall Street Journal, Financial Times, Fortune, BusinessWeek, Bloomberg, and CNBC. He writes a blog called "Mind on My Money" at psychologytoday.com.

Blurb

BEHAVIORAL FINANCE

The Robert W. Kolb Series in Finance is an unparalleled source of information dedicated to the most important issues in modern finance. Each book focuses on a specific topic in the field of finance and contains contributed chapters from both respected academics and experienced financial professionals. As part of the Robert W. Kolb Series in Finance, Behavioral Finance aims to provide a comprehensive understanding of the key themes associated with this growing field and how they can be applied to investments, corporations, markets, regulations, and education.

Behavioral finance has the potential to explain not only how people make financial decisions and how markets function, but also how to improve them. This book provides invaluable insights into behavioral finance, its psychological foundations, and its applications to finance.

Comprising contributed chapters by a distinguished group of academics and practitioners, Behavioral Finance provides a synthesis of the most essential elements of this discipline. It puts behavioral finance in perspective by detailing the current state of research in this area and offers practical guidance on applying the information found here to real–world situations.

Behavioral finance has increasingly become part of mainstream finance. If you intend on gaining a better understanding of this discipline, look no further than this book.