کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
7538225 | 1488844 | 2018 | 19 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Investment communities: Behavioral attitudes and economic dynamics
ترجمه فارسی عنوان
جوامع سرمایه گذاری: نگرش های رفتاری و دینامیک اقتصادی
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کلمات کلیدی
موضوعات مرتبط
مهندسی و علوم پایه
ریاضیات
آمار و احتمال
چکیده انگلیسی
Using a real-world data set encompassing the daily portfolio holdings and exposures of complex investment funds, we derive a set of quantitative attributes to capture essential behavioral features of fund managers. We find the existence and stability of three investment attitudes, namely the conservative, the reactive, and the pro-active profiles, defining communities that respond differently when facing external shocks. The conservative community has behavioral similarities that tend to decrease due to external shocks, the reactive community members greatly increase their activity level especially during turmoil phases, while delegated investors in the pro-active community are more resilient to turbulence and counterbalance the impact of the events by adjusting their portfolio exposures in advance. We show that exogenous shocks only temporarily perturb the behavioral traits of the communities which then go back to their original states once the distress is embedded.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Social Networks - Volume 55, October 2018, Pages 170-188
Journal: Social Networks - Volume 55, October 2018, Pages 170-188
نویسندگان
Alessandro Spelta, Andrea Flori, Fabio Pammolli,