BernheimV1, Main, Exploration, bibRecord, 000075

Essays in Empirical Financial Economics

Identifieur interne : 000075 ( Main/Exploration ); précédent : 000074; suivant : 000076

Essays in Empirical Financial Economics

Auteurs : Sven Michael Spira [France]

Source :

RBID : Hal:tel-01126970

Descripteurs français

mix :
- Décision d'investissement, Désirabilité sociale, Finance des ménages, Gouvernance d'entreprise, Horizon, Héritage, Investissement du portefeuille, Investisseurs individuels, Poursuite judiciaire.
Wicri :
- topic : Gouvernement d'entreprise, Héritage, Poursuite judiciaire.

English descriptors

mix :
- Bequests, Corporate governance, Household finance, Investment decisions, Investor behavior, Litigation, Portfolio choice, Social desirability.

Abstract

This dissertation consists of four distinct chapters.The first chapter presents the joint work with Christophe Spaenjers.We find that individuals with longer subjective life horizons hold higher conditional equity shares, and the effect of a shortening life horizon on portolio choice is offset by bequest motives. In the second chapter,I examine the explanatory power of birth order to financial household decisions. I show that firstborns differ in their financial decision-making from later born siblings. The results highlight the importance of personal family experiences for household choices. In the third chapter,I document that, in surveys, the presence of companions decreases the probability of respondents replying, and increases the probability of respondents overreporting their self-assessed abilities. The overreporting leads to a downward bias in the estimates of the importance of overconfidence for individuals' behavior. The fourth chapter presents joint work with Thomas Bourveau and François Brochet. We identify M&A lawsuits, where plaintiffs allege that the firm hid poor performance related to prior acquisition. Using the filing of a lawsuit as an industry shock, we show findings consistent with a disciplining effect from the lawsuit for the investment behavior of peer firms' managers

Url:

https://pastel.archives-ouvertes.fr/tel-01126970

Affiliations:

France

Links toward previous steps (curation, corpus...)

to stream Hal, to step Corpus: 000057
to stream Hal, to step Curation: 000057
to stream Hal, to step Checkpoint: 000069
to stream Main, to step Merge: 000075
to stream Main, to step Curation: 000075

Le document en format XML

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<front><div type="abstract" xml:lang="en">This dissertation consists of four distinct chapters.The first chapter presents the joint work with Christophe Spaenjers.We find that individuals with longer subjective life horizons hold higher conditional equity shares, and the effect of a shortening life horizon on portolio choice is offset by bequest motives. In the second chapter,I examine the explanatory power of birth order to financial household decisions. I show that firstborns differ in their financial decision-making from later born siblings. The results highlight the importance of personal family experiences for household choices. In the third chapter,I document that, in surveys, the presence of companions decreases the probability of respondents replying, and increases the probability of respondents overreporting their self-assessed abilities. The overreporting leads to a downward bias in the estimates of the importance of overconfidence for individuals' behavior. The fourth chapter presents joint work with Thomas Bourveau and François Brochet. We identify M&A lawsuits, where plaintiffs allege that the firm hid poor performance related to prior acquisition. Using the filing of a lawsuit as an industry shock, we show findings consistent with a disciplining effect from the lawsuit for the investment behavior of peer firms' managers</div>
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{{Explor lien
   |wiki=    Wicri/Psychologie
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   |clé=     Hal:tel-01126970
   |texte=   Essays in  Empirical Financial Economics
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Serveur d'exploration Hippolyte Bernheim

Essays in Empirical Financial Economics

Essays in Empirical Financial Economics

Source :

Descripteurs français

English descriptors

Abstract

Links toward previous steps (curation, corpus...)

Le document en format XML

Pour manipuler ce document sous Unix (Dilib)

Pour mettre un lien sur cette page dans le réseau Wicri