Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.5/9284
Título: Information, overconfidence and trading : do the sources of information matter?
Autor: Abreu, Margarida
Mendes, Victor
Palavras-chave: Information
Overconfidence
Investor behavior
Trading
Sources of information
Data: 2012
Editora: Elsevier
Citação: Abreu, Margarida, Victor Mendes (2012). "Information, overconfidence and trading : do the sources of information matter?". Journal of Economic Psychology, 33:868-881
Resumo: We investigate how the strength of the positive association between frequency of trading and information acquisition is dependent on the sources of information used by investors and on investors’ overconfidence. We add to the existing literature by investigating if the positive relationship between investment in information and intensity of trading in financial assets is sensitive to the sources of information used by investors, and if this influence is different for overconfident and non-overconfident investors. Our results confirm the classical statement that the more frequently individual investors invest in information, the more they trade in financial products. They also confirm behavioral finance findings that overconfident investors, who show a better than average bias, trade more frequently. Our findings are novel showing that the more overconfident and non-overconfident investors invest in information the more they trade, but the trading behavior is sensitive to the sources of information used. Overconfident investors trade less frequently when they collect information via friends and family, and non-overconfident investors trade more frequently when they use specialized sources of information.
URI: http://hdl.handle.net/10400.5/9284
ISSN: 0167-4870
Versão do Editor: http://www.sciencedirect.com/science/article/pii/S0167487012000505
Aparece nas colecções:DE - Artigos em Revistas Internacionais / Articles in International Journals

Ficheiros deste registo:
Ficheiro Descrição TamanhoFormato 
MA-artigo.pdf262,24 kBAdobe PDFVer/Abrir


FacebookTwitterDeliciousLinkedInDiggGoogle BookmarksMySpace
Formato BibTex MendeleyEndnote Degois 

Todos os registos no repositório estão protegidos por leis de copyright, com todos os direitos reservados.