Behavioral Finance: Investors, Corporations, and Markets

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H. Kent Baker, John R. Nofsinger
John Wiley & Sons, Oct 1, 2010 - Business & Economics - 768 pages
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A definitive guide to the growing field of behavioral finance

This reliable resource provides a comprehensive view of behavioral finance and its psychological foundations, as well as its applications to finance. Comprising contributed chapters written by distinguished authors from some of the most influential firms and universities in the world, Behavioral Finance provides a synthesis of the most essential elements of this discipline, including psychological concepts and behavioral biases, the behavioral aspects of asset pricing, asset allocation, and market prices, as well as investor behavior, corporate managerial behavior, and social influences.

  • Uses a structured approach to put behavioral finance in perspective
  • Relies on recent research findings to provide guidance through the maze of theories and concepts
  • Discusses the impact of sub-optimal financial decisions on the efficiency of capital markets, personal wealth, and the performance of corporations

Behavioral finance has quickly become part of mainstream finance. If you need to gain a better understanding of this topic, look no further than this book.

 

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Contents

Traditional Versus Behavioral Finance
Application and Pedagogy in Business
Heuristics or Rules of Thumb
Neuroeconomics and Neurofinance
The Role of the Unconscious in Financial
EMOTIONAL FINANCE IN PRACTICE
Experimental Finance
The Psychology of Risk
Belief and PreferenceBased Models
Enterprise Decision Making as Explained in InterviewBased
THE SCHWARTZ IN UERIES ON INDUSTRIAL DEVELOPMENT
Capital Budgeting and Other Investment Decisions
Dividend Policy Decisions
Loyalty Agency Conflicts and Corporate Governance
AGENTIC SHIFT AS A BEHAVIORAL FACTOR IN CORPORATE
Initial Public Offerings

Psychological Influences on Financial Regulation and Policy
Disposition Effect
Prospect Theory and Behavioral Finance
Tests Using the Stochastic
THE EXPERIMENTS AND THE RESULTS
Overconfidence
The Representativeness Heuristic
FINANCE
Familiarity Bias
Limited Attention
Other Behavioral Biases
Market lnefficiency
Mergers and Acquisitions
The Essential Foundation of Securities
SUMMARY AND CONCLUSIONS
Individual Investor Portfolios
Cognitive Abilities and Financial Decisions
Pension Participant Behavior
Institutional Investors
Derivative Markets
The Role of Culture in Finance
Social Interactions and Investing
Copyright

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About the author (2010)

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.

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