24 results
Sort by:
In: Peace & change: PC ; a journal of peace research, Volume 3, Issue 2-3, p. 52-67
ISSN: 1468-0130
In: Pacific affairs, Volume 42, Issue 2, p. 226
ISSN: 0030-851X
In: The journal of economic history, Volume 16, Issue 1, p. 100-102
ISSN: 1471-6372
In: The journal of economic history, Volume 7, Issue 1, p. 98-100
ISSN: 1471-6372
In: Pacific affairs: an international review of Asia and the Pacific, Volume 2, Issue 10, p. 644
ISSN: 1715-3379
In: Pacific affairs, Issue 10, p. 644
ISSN: 0030-851X
In: Harvard East Asian Monographs v.54
In: Review of Financial Economics, Volume 37, Issue 1
SSRN
In: Review of financial economics: RFE, Volume 37, Issue 1, p. 61-91
ISSN: 1873-5924
AbstractThe investor overconfidence theory predicts a direct relationship between market‐wide turnover and lagged market return. However, previous research has examined this prediction in the equity market, we focus on trading in the options market. Controlling for stock market cross‐sectional volatility, stock idiosyncratic risk, and option market volatility, we find that option trading turnover is positively related to past stock market return. In addition, call option turnover and call to put ratio are also positively associated with the past stock market return. These findings are consistent with the overconfidence theory. We also find that overconfident investors trade more in the options market than in the equity market. We rule out explanations other than investor overconfidence, such as momentum trading and varying risk preferences, for our findings.
In: Pacific affairs: an international review of Asia and the Pacific, Volume 42, Issue 2, p. 226
ISSN: 1715-3379
In: Da lu di qu bo shi lun wen cong kan 93
In: 大陸地區博士論文叢刊 93
In: Taiwan Economic Review
SSRN
In: Pacific affairs: an international review of Asia and the Pacific, Volume 48, Issue 4, p. 603
ISSN: 1715-3379
In: The quarterly review of economics and finance, Volume 94, p. 190-205
ISSN: 1062-9769