Rumors in financial markets [[electronic resource] ] : insights into behavioral finance / / Mark Schindler

• Autore: Schindler Mark
• Pubblicazione: Chichester, England ; ; Hoboken, NJ, : John Wiley & Sons Inc., c2007
• Descrizione fisica: 1 online resource (209 p.)
• Disciplina: 332; 332.6019
• Soggetto topico: Investments - Psychological aspects; Investments - Decision making
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references (p. [169]-189) and index.
• Nota di contenuto: Rumors in Financial Markets; Contents; List of Symbols; Preface; 1 Introduction; 1.1 Objectives of this book; 1.2 Structure of this book; 1.3 Research methodology; 2 Definitions and Characteristics of Rumors; 2.1 Definitions; 2.1.1 Structure of the categories, news, information and rumor; 2.1.2 Rumors versus gossip; 2.1.3 Summary of rumor characteristics; 2.2 Historical background to studies on rumors; 3 Rumors and the Theory of Finance; 3.1 Rumors and Behavioral Finance; 3.1.1 Theoretical excursion: A formal definition of the value of information ; 3.1.2 The relationship between the value of information and efficient markets3.1.3 The criticisms of Behavioral Finance; 3.1.4 The link between rumors and Behavioral Finance; 3.1.5 Financial markets as a fruitful ground for rumors; 3.1.6 Six types of rumors; 3.1.7 Classification of rumors in financial markets; 3.2 Rumors and rational behavior; 3.2.1 Rationality in the classical Theory of Finance; 3.2.2 Bounded rationality; 3.2.3 Procedural rationality; 3.2.4 An action is always rational; 3.2.5 Rationality in financial markets; 3.3 Empirical studies of rumors in the stock market ; 3.4 Review of models on rumors3.5 Ethnographical studies; 4 Legal Aspects of Rumors in Financial Markets; 4.1 Rumors in financial markets and insider trading; 4.1.1 Introduction; 4.1.2 Review of scientific literature on insider trading; 4.2 Review of models on insider trading; 4.2.1 Models of insider trading regulation; 4.2.2 Models of trading by registered insiders; 4.3 Rumors in financial markets and price manipulation; 4.4 Review of models on market manipulation; 5 Survey of Rumors in Financial Markets; 5.1 The survey and its intention; 5.2 Participant profile; 5.2.1 Survey parameters ; 5.2.2 Survey participants5.3 Development of rumors; 5.3.1 How rumors start and why; 5.3.2 Correlation between market volatility and frequency of rumors; 5.3.3 What is the source?; 5.3.4 First actions on a rumor; 5.3.5 Action on specific versus general rumors; 5.4 Spreading of rumors; 5.4.1 To spread or not to spread?; 5.4.2 First or last in the row?; 5.4.3 Spreading time: How long it takes; 5.5 Belief in rumors; 5.5.1 Why rumors are believed; 5.5.2 Does it matter what you believe?; 5.6 Network formation; 5.7 Trading on rumors; 5.7.1 Systematic price patterns?; 5.7.2 Rumor sources and profits ; 5.7.3 Thoughts triggered by the price movement5.7.4 Actions triggered by the price movement; 5.8 Rumors versus information; 5.8.1 Trading on rumors versus trading on information; 5.8.2 The difference between a rumor and information; 5.9 Conclusions from the survey; 5.9.1 Rumors follow logical rules; 5.9.2 Prices reflect beliefs; 5.9.3 Investment strategies on rumors; 5.9.4 Relating the results to other studies; 6 Rumor Experiments; 6.1 Why use experiments as a research methodology?; 6.2 Methodological pre-considerations; 6.2.1 Internal versus external validity; 6.2.2 Selection of participants ; 6.2.3 Payment of participants
• Sommario/riassunto: On the trading floor, all action is based on news, therefore rumors in financial markets are an everyday phenomenon. Rumors are the oldest mass medium in the world and their nature is still difficult to grasp. Scientifically, not much is known about rumors, especially in the financial markets, where their consequences can have real money consequences. Rumors in Financial Markets provides a fresh insight to the topic, combining the theory of Behavioral Finance with that of Experimental Finance--a new and innovative scientific method which observes real decision makers in a controlled, clearly s
• Titolo autorizzato: Rumors in financial markets
• ISBN: 1-119-20900-5; 1-280-83949-X; 9786610839490; 0-470-51033-1
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910830684603321
• Lo trovi qui: Univ. Federico II
• Serie: Wiley finance series.