Results 111 to 120 of about 317 (132)

Myopic loss aversion and the equity premium puzzle reconsidered

Finance Research Letters, 2004
Abstract Benartzi and Thaler [The Quarterly Journal of Economics 110 (1995) 73–92] offer a quasi-rational explanation for the equity premium puzzle. We reconsider their methodology and, making a simple modification to it, find that their analysis is not robust.
Robert B. Durand, Paul Lloyd, Hong Wee Tee   +2 more
openaire   +1 more source

Strategic Communication With A Myopically Loss Averse Investor

We develop a multi-period communication model in which a manager knows the firm's fundamental value before the firm's myopically loss averse investor. The manager may disclose truthfully or provide strategically biased information to influence the investor's evaluation of firm performance. The optimal managerial communication strategy is to report firm
Nils Lohmeier, Thomas Langer, Hannes Mohrschladt   +2 more
openaire   +1 more source

OWNERSHIP STRUCTURE, MYOPIC LOSS AVERSION, AND THE PROBLEM OF 'PRESENTIATION'

Academy of Management Proceedings, 1999
This study examines the influence of institutional investors on firm innovation. Institutions are segmented by their cash flow preferences.
openaire   +1 more source

Cumulative Prospect Theory, Myopic Loss Aversion and Momentum Crashes

SSRN Electronic Journal, 2014
Momentum strategies generate significant positive returns over long investment horizons; however these strategies experience infrequent periods of large negative returns. These periods are known as 'momentum crashes'. We demonstrate that the probability of a momentum crash is time-varying, increasing following periods of high market return dispersion ...
Paul Docherty, Gareth Hurst
openaire   +1 more source

Decision Flexibility, Not Information Feedback, Explains Myopic Loss Aversion

Myopic loss aversion (MLA) - the tendency to avoid risk when investment outcomes are evaluated frequently - has long been cited as a key behavioral explanation for overly conservative portfolios. However, importantly it has remained unclear whether MLA is primarily driven by the frequency of performance feedback or by the flexibility to revise ...
Rene Schwaiger, Markus Strucks, Stefan Zeisberger   +2 more
openaire   +1 more source

Myopic Loss Aversion, Asymmetric Correlations, and the Home Bias [PDF]

, 2004
Myopic loss aversion has been used to explain why a high equity premium might be consistent with plausible levels of risk aversion. The intuition is that it plays the role of high risk aversion in portfolio choice. But if so, should these agents not perceive larger gains from international diversification than standard preference agents with realistic ...
Carlos Viana de Carvalho, Kevin Amonlirdviman   +1 more
openaire  

Transgenerational Succession and R&D Investment: A Myopic Loss Aversion Perspective

Entrepreneurship Theory and Practice, 2022
Weiwen Li
exaly  

Measuring The Myopic Loss Aversion Premium: An Experimental Approach

Applied Economics Letters, 2022
Angela-Maria Filip, Balint Zsolt Nagy
openaire   +1 more source

Myopic loss aversion or equate-to-differentiate heuristic? A heuristic decision making model for both single and aggregated plays

Journal of General Psychology, 2023
Fengpei Hu
exaly  

Measuring The Myopic Loss Aversion Premium: An Experimental Approach

Applied Economics Letters, 2023
exaly