Traders, managers and loss aversion in investment banking: A field study

Accounting, Organizations and Society

Volumn 27, Issue 1-2, 2002, Pages 85-98

  Willman, Paul ^a,d   Fenton O'Creevy, Mark ^b   Nicholson, Nigel ^c   Soane, Emma ^c  

^a UNIVERSITY OF OXFORD   (United Kingdom)

^b OPEN UNIVERSITY BUSINESS SCHOOL   (United Kingdom)

^c LONDON BUSINESS SCHOOL   (United Kingdom)

^d BALLIOL COLLEGE   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 10644245058     PISSN: 03613682     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0361-3682(01)00029-0     Document Type: Article

References (24)

1. Adler, P. A., & Adler, P. (1984). The social dynamics of financial markets. Greenwich, Connecticut: JAI Press.
2. Baker, W. (1984). The social structure of a national securities market. American Journal of Sociology, 89(4), 775-811.
3. Bank of England (1997). A risk based approach to supervision. Consultative paper, March. London.
4. Bazerman, M. (1998). Judgement in managerial decision making. New York: Wiley.
5. Beatty, R. P., & Zajac, E. J. (1994). Managerial incentives, monitoring and risk-bearing. Administrative Science Quarterly, 39, 313-335.
6. Bernstein, P. L. (1996). Against the Gods; The remarkable story of risk. New York: Wiley.
7. Casserly, D. (1991). Facing up to risks. New York: Wiley.
8. Dow, J., & Gorton, G. (1997). Noise trading, delegated portfolio management and economic welfare. Journal of Political Economy, 105, 1024-1050.
9. Eisenhardt, K. (1989). Agency theory; an assessment and review. Academy of Management Review, 14, 57-74.
10. Fenton-O'Creevy, M, Nicholson, N. Soane, E. and Willman, P. 1999. Trading on illusions. Paper to Academy of Management Conference, Chicago.
11. Mintzberg, H. (1983). Structure in fives. Englewood NJ: Prentice Hall.
12. Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm; managerial behaviour, agency costs and ownership structure. Journal of Financial Economics, 3, 305-360.
13. Kahn, H., & Cooper, C. L. (1993). Stress in the dealing room. London: Routledge.
14. Kahnemann, D., & Tversky, A. (1979). Prospect theory; an analysis of decisions under risk. Econometrica, 47, 262-291.
15. Shefrin, H. (2000). Beyond greed and fear; Understanding behavioral finance and the psychology of investing. Cambridge: HBS Press.
16. Sitkin, S., & Pablo, A. (1992). Reconceptualising the determinants of risk behaviour. Academy of Management Review, 17, 9-36.
17. Thaler, R. (1991). Quasi-rational economics. New York: Russel Sage Foundation.
18. Thaler, R. (Ed.). (1993). Advances in behavioral finance. New York: Russel Sage Foundation.
19. Thaler, R. H., & Johnson, E. J. (1990). Gambling with the house money and trying to break even; the effects of prior outcomes on risky choice. Management Science, 36, 643-660.
20. Tosi, H., & Gomez-Meija, L. R. (1989). The de-coupling of CEO pay and performance; an agency theory perspective. Administrative Science Quarterly, 34, 169-190.
21. Tversky, A., & Kahnemann, D. (1986). Rational choice and the framing of decisions. Journal of Business, 59, 251-278.
22. Williamson, O. E. (1963). Managerial discretion and business behavior. American Economic Review, 53, 1032-1051.
23. Wiseman, R. M., & Catanach, A. H. (1997). A longitudinal disaggregation of operational risk under changing regulations; evidence from the savings and loan industry. Academy of Management Journal, 40(4), 799-830.
24. Wiseman, R. M., & Gomez-Meija, L. R. (1998). A behavioural agency model of managerial risk taking. Academy of Management Review, 25(1), 133-153.