Prospect theory and institutional investors

• المؤلفون الرئيسيون: TEO, Melvyn, O'CONNELL, Paul G. J.
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2003
• الموضوعات: institutional investors; past performance; loss aversion; Finance and Financial Management; Portfolio and Security Analysis
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/lkcsb_research/5231; https://ink.library.smu.edu.sg/context/lkcsb_research/article/6230/viewcontent/SSRN_id457741__1_.pdf
• المؤسسة: Singapore Management University

There is ample evidence that past performance affects the trading decisions of individual investors. This paper looks at this issue using a detailed database of currency trading decisions of institutional investors. Past performance manifestly affects currency risk-taking in this group, but the sign...