کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
7296631 | 1474598 | 2018 | 29 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The investor in structured retail products: Advice driven or gambling oriented?
ترجمه فارسی عنوان
سرمایه گذار در محصولات خرده فروشی ساختار یافته: مشاوره رانده شده یا قمار گرا؟
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد، اقتصادسنجی و مالیه (عمومی)
چکیده انگلیسی
Structured retail products (SRP) are one of the most visible faces of financial innovation and are becoming increasingly popular amongst retail investors. However, there is strong consensus that retail investors' preference for structured products is difficult to explain using the standard rational theory, those products being in general sold at a significant premium. Studying the actual trading behavior of individual investors we provide evidence consistent with the view that SRP likely offer value to some informed investors compared to other products, and that SRP allow investors to access segments otherwise not available to them. Nonetheless, our results also suggest that the increasing popularity of SRP is deeply related to investors' behavioral biases, particularly overconfidence and gambling.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Behavioral and Experimental Finance - Volume 17, March 2018, Pages 1-9
Journal: Journal of Behavioral and Experimental Finance - Volume 17, March 2018, Pages 1-9
نویسندگان
Margarida Abreu, Victor Mendes,