Behavioral Finance
Investors, Corporations, and Markets
Published on 6. October 2010
768 pages
978-0-470-76968-3 (ISBN)
Description
A definitive guide to the growing field of behavioralfinance
This reliable resource provides a comprehensive view ofbehavioral finance and its psychological foundations, as well asits applications to finance. Comprising contributed chapterswritten by distinguished authors from some of the most influentialfirms and universities in the world, Behavioral Financeprovides a synthesis of the most essential elements of thisdiscipline, including psychological concepts and behavioral biases,the behavioral aspects of asset pricing, asset allocation, andmarket prices, as well as investor behavior, corporate managerialbehavior, and social influences.
* Uses a structured approach to put behavioral finance inperspective
* Relies on recent research findings to provide guidance throughthe maze of theories and concepts
* Discusses the impact of sub-optimal financial decisions on theefficiency of capital markets, personal wealth, and the performanceof corporations
Behavioral finance has quickly become part of mainstreamfinance. If you need to gain a better understanding of this topic,look no further than this book.
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10/2010
Wiley
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Persons
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.
Content
PART I. FOUNDATION AND KEY CONCEPTS.
Chapter 1. Behavioral Finance: An Overview (Kent H. Baker, JohnR. Nofsinger).
Chapter 2. Traditional versus Behavioral Finance (Robert J.Bloomfield).
Chapter 3. Behavioral Finance: Application and Pedagogy inBusiness 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, AlyssaAnderson).
Chapter 8. The Psychology of Risk and Uncertainty (VictorRicciardi).
Chapter 9. Psychological Influences on Financial Regulation andPolicy (David Hirshleifer, Siew Hong Teoh).
PART II. PSYCHOLOGICAL CONCEPTS AND BEHAVIORALBIASES.
Chapter 10. Disposition Effect (Markku Kaustia).
Chapter 11. Prospect Theory and Behavioral Biases (MorrisAltman).
Chapter 12. Cumulative Prospect Theory (Haim Levy).
Chapter 13. Overconfidence (Markus Glaser, MartinWeber).
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 (AdamSzyszka).
PART IV. BEHAVIORAL CORPORATE FINANCE.
Chapter 20. Enterprise Decision Making as Explained inInterview-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 (FrançoisDerrien).
Chapter 26. Mergers and Acquisitions (Ming Dong).
PART V. INVESTOR BEHAVIOR.
Chapter 27. Trust Behavior: The Essential Foundation ofFinancial Markets (Lynn A. Stout).
Chapter 28. Individual Investor Trading (Ning Zhu).
Chapter 29. Individual Investor Portfolios (ValeryPolkovnichenko).
Chapter 30. Cognitive Abilities and Financing Decisions (GeorgeM 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 (RohanWilliamson).
Chapter 35. Social Interactions and Investing (MarkSeasholes).
Chapter 36. Mood (Tyler Shumway).
Part VII. Answers to Chapter Discussion Questions.
Index.
