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Behavioral biases of informed traders: Evidence from insider trading on the 52-week high
16 references·1 citing·38 second hopsampled
Behavioral biases of informed traders: Evidence from insider trading on the 52-week high (2019)Behavioral biases of informed traders: Ev…A five-factor asset pricing model (2014)A five-factor asset pricing m…The short of it: Investor sentiment and anomalies (2011)The short of it: Investor sen…Who makes acquisitions? CEO overconfidence and the market's reaction☆ (2008)Who makes acquisitions? CEO o…CEO Overconfidence and Corporate Investment (2005)CEO Overconfidence and Corpor…Illiquidity and stock returns: cross-section and time-series effects (2002)Illiquidity and stock returns…What Makes Investors Trade? (2001)What Makes Investors Trade?Earnings Management to Exceed Thresholds (1999)Earnings Management to Exceed…Do Industries Explain Momentum? (1999)Do Industries Explain Momentu…Are Investors Reluctant to Realize Their Losses? (1998)Are Investors Reluctant to Re…Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Returns to Buying Winners and…The weighing of evidence and the determinants of confidence (1992)The weighing of evidence and …Permanent and Temporary Components of Stock Prices (1988)Permanent and Temporary Compo…Mean reversion in stock prices (1988)Mean reversion in stock pricesMean Reversion in Stock Prices: Evidence and Implications (1987)Mean Reversion in Stock Price…The Disposition to Sell Winners Too Early and Ride Losers Too Long: Theory and Evidence (1985)The Disposition to Sell Winne…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…The Effect of Anchoring on Economic Decision-Making (2022)The Effect of Anchoring on Ec…An Empirical Evaluation of Accounting Income Numbers (1968)Prospect theory: An analysis of decision under risk (1988)Earnings management to avoid earnings decreases and losses (1997)Earnings management and investor protection: an international comparison (2003)Earnings Management through Real Activities Manipulation (2003)The economic implications of corporate financial reporting (2005)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)The relationship between return and market value of common stocks (1981)Does the Stock Market Overreact? (1985)Noise Trader Risk in Financial Markets (1990)Investor Psychology and Security Market Under‐ and Overreactions (1998)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The Cross-Section of Expected Stock Returns (1992)Multifactor Explanations of Asset Pricing Anomalies (1996)Prospect Theory: An Analysis of Decision under Risk (1979)Toward a positive theory of consumer choice (1980)Trading Is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors (2000)All That Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors (2007)Editor's Choice Digesting Anomalies: An Investment ApproachCommon risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)Liquidity Risk and Expected Stock Returns (2003)Asset pricing with liquidity risk (2005)The Pricing of Options and Corporate Liabilities (1973)Determinants of corporate borrowing (1977)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Managing with Style: The Effect of Managers on Firm Policies (2003)Psychology and Economics: Evidence from the Field (2009)Are Overconfident CEOs Better Innovators? (2012)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)A review of tax research (2010)Depression Babies: Do Macroeconomic Experiences Affect Risk Taking?* (2011)Investor Psychology and Asset Pricing (2001)Do Shareholders Benefit from Green Bonds? (2018)Empirical Asset Pricing via Machine Learning (2020)
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References

  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1993Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency11,575 cited
  • 2002Illiquidity and stock returns: cross-section and time-series effects10,008 cited
  • 2014A five-factor asset pricing model7,841 cited
  • 1998Are Investors Reluctant to Realize Their Losses?3,721 cited
  • 2005CEO Overconfidence and Corporate Investment3,686 cited
  • 1985The Disposition to Sell Winners Too Early and Ride Losers Too Long: Theory and Evidence3,550 cited
  • 1988Permanent and Temporary Components of Stock Prices3,036 cited
  • 1999Earnings Management to Exceed Thresholds2,764 cited
  • 2008Who makes acquisitions? CEO overconfidence and the market's reaction☆2,763 cited
  • 1988Mean reversion in stock prices1,888 cited
  • 1987Mean Reversion in Stock Prices: Evidence and Implications1,875 cited
  • 1992The weighing of evidence and the determinants of confidence1,842 cited
  • 2011The short of it: Investor sentiment and anomalies1,781 cited
  • 1999Do Industries Explain Momentum?1,770 cited
  • 2001

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What Makes Investors Trade?
1,296 cited

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  • 2022The Effect of Anchoring on Economic Decision-Making1 cited