메뉴 건너뛰기




Volumn 25, Issue 3, 2004, Pages 425-444

Behavioral finance: How matters stand

Author keywords

[No Author keywords available]

Indexed keywords


EID: 1942474622     PISSN: 01674870     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.joep.2004.02.001     Document Type: Review
Times cited : (24)

References (50)
  • 1
    • 0003007882 scopus 로고
    • Asset prices under habit formation and catching up with the Joneses
    • Abel A.B. Asset prices under habit formation and catching up with the Joneses American Economic Review 80 1990 38-42
    • (1990) American Economic Review , vol.80 , pp. 38-42
    • Abel, A.B.1
  • 2
    • 38249018927 scopus 로고
    • Individual expectations, risk perception and preferences in relation to investment decisions making
    • Antonides G. Van der Sar N.L. Individual expectations, risk perception and preferences in relation to investment decisions making Journal of Economic Psychology 11 1990 227-245
    • (1990) Journal of Economic Psychology , vol.11 , pp. 227-245
    • Antonides, G.1    Van der Sar, N.L.2
  • 3
    • 38249006507 scopus 로고
    • Nonstationary expected returns: Implications for tests of market efficiency and serial correlation in returns
    • Ball R. Kothari S.P. Nonstationary expected returns: Implications for tests of market efficiency and serial correlation in returns Journal of Financial Economics 25 1989 51-74
    • (1989) Journal of Financial Economics , vol.25 , pp. 51-74
    • Ball, R.1    Kothari, S.P.2
  • 4
    • 0040197221 scopus 로고
    • The relationship between earnings' yield, market value, and returns for NYSE common stocks: Further evidence
    • Basu S. The relationship between earnings' yield, market value, and returns for NYSE common stocks: Further evidence Journal of Financial Economics 12 1983 129-156
    • (1983) Journal of Financial Economics , vol.12 , pp. 129-156
    • Basu, S.1
  • 5
    • 0000909526 scopus 로고
    • Evidence that stock prices do not fully reflect the implications of current earnings for future earnings
    • Bernard V.L. Thomas J.K. Evidence that stock prices do not fully reflect the implications of current earnings for future earnings Journal of Accounting and Economics 13 1990 305-340
    • (1990) Journal of Accounting and Economics , vol.13 , pp. 305-340
    • Bernard, V.L.1    Thomas, J.K.2
  • 6
    • 0002665853 scopus 로고
    • Recent tests of generalizations of expected utility theory
    • W. Edwards (Ed.), Boston: Kluwer
    • Camerer C.F. Recent tests of generalizations of expected utility theory In Edwards W. (Ed.), Utility theories: Measurements and applications 1992 207-251 Kluwer Boston
    • (1992) Utility Theories: Measurements and Applications , pp. 207-251
    • Camerer, C.F.1
  • 7
    • 0002340332 scopus 로고
    • Individual decision making
    • J. H. Kagel, & A. E. Roth (Eds.), Princeton, NJ: Princeton University Press
    • Camerer C.F. Individual decision making In Kagel J.H. & Roth A.E. (Eds.), The handbook of experimental economics 1995 587-703 Princeton University Press Princeton, NJ
    • (1995) The Handbook of Experimental Economics , pp. 587-703
    • Camerer, C.F.1
  • 8
    • 0040291438 scopus 로고    scopus 로고
    • Asset pricing at the millennium
    • Campbell J.Y. Asset pricing at the millennium Journal of Finance 55 2000 1515-1567
    • (2000) Journal of Finance , vol.55 , pp. 1515-1567
    • Campbell, J.Y.1
  • 9
    • 0032771542 scopus 로고    scopus 로고
    • By force of habit: A consumption-based explanation of aggregate stock market behavior
    • Campbell J.Y. Cochrane J.H. By force of habit: A consumption-based explanation of aggregate stock market behavior Journal of Political Economy 107 1999 205-251
    • (1999) Journal of Political Economy , vol.107 , pp. 205-251
    • Campbell, J.Y.1    Cochrane, J.H.2
  • 10
    • 0000874311 scopus 로고
    • On the contrarian investment strategy
    • Chan K.C. On the contrarian investment strategy Journal of Business 61 1988 147-163
    • (1988) Journal of Business , vol.61 , pp. 147-163
    • Chan, K.C.1
  • 12
    • 0000443421 scopus 로고
    • Optimal stock trading with personal taxes: Implications for prices and the abnormal January returns
    • Constantinides G.M. Optimal stock trading with personal taxes: Implications for prices and the abnormal January returns Journal of Financial Economics 13 1984 65-89
    • (1984) Journal of Financial Economics , vol.13 , pp. 65-89
    • Constantinides, G.M.1
  • 13
    • 84935322716 scopus 로고
    • Habit formation: A resolution of the equity premium puzzle
    • Constantinides G.M. Habit formation: A resolution of the equity premium puzzle Journal of Political Economy 98 1990 519-543
    • (1990) Journal of Political Economy , vol.98 , pp. 519-543
    • Constantinides, G.M.1
  • 14
    • 0039030368 scopus 로고    scopus 로고
    • Characteristics, covariances, and average returns: 1929 to 1997
    • Davis J.L. Fama E.F. French K.R. Characteristics, covariances, and average returns: 1929 to 1997 Journal of Finance 55 2000 389-406
    • (2000) Journal of Finance , vol.55 , pp. 389-406
    • Davis, J.L.1    Fama, E.F.2    French, K.R.3
  • 17
    • 77957031257 scopus 로고
    • Financial decision-making in markets and firms: A behavioral perspective
    • R. A. Jarrow, V. Maksimovic, & W. T. Ziemba (Eds.), Amsterdam: Elsevier Science
    • De Bondt W.F.M. Thaler R.H. Financial decision-making in markets and firms: A behavioral perspective In Jarrow R.A. Maksimovic V. & Ziemba W.T. (Eds.), Finance, Handbooks in operations research and management science Vol. 9 1995 385-410 Elsevier Science Amsterdam
    • (1995) Finance, Handbooks in Operations Research and Management Science , vol.9 , pp. 385-410
    • De Bondt, W.F.M.1    Thaler, R.H.2
  • 19
    • 0000029776 scopus 로고
    • Efficient capital markets: II
    • Fama E.F. Efficient capital markets: II Journal of Finance 46 1991 1575-1617
    • (1991) Journal of Finance , vol.46 , pp. 1575-1617
    • Fama, E.F.1
  • 21
    • 84993845943 scopus 로고
    • Size and book-to-market factors in earnings and returns
    • Fama E.F. French K.R. Size and book-to-market factors in earnings and returns Journal of Finance 50 1995 131-155
    • (1995) Journal of Finance , vol.50 , pp. 131-155
    • Fama, E.F.1    French, K.R.2
  • 22
    • 84977707081 scopus 로고
    • Predicting contempory volume with historical volume at differential price levels: Evidence supporting the disposition effect
    • Ferris S.P. Haugen R.A. Makhija A.K. Predicting contempory volume with historical volume at differential price levels: Evidence supporting the disposition effect Journal of Finance 43 1988 677-697
    • (1988) Journal of Finance , vol.43 , pp. 677-697
    • Ferris, S.P.1    Haugen, R.A.2    Makhija, A.K.3
  • 23
    • 0009888594 scopus 로고    scopus 로고
    • Conditioning variables and the cross section of stock returns
    • Ferson W.E. Harvey C.R. Conditioning variables and the cross section of stock returns Journal of Finance 54 1999 1325-1360
    • (1999) Journal of Finance , vol.54 , pp. 1325-1360
    • Ferson, W.E.1    Harvey, C.R.2
  • 24
    • 0003970444 scopus 로고
    • The incredible January effect
    • Homewood, IL: Dow Jones-Irwin
    • Haugen R.A. Lakonishok J. The incredible January effect 1988 Dow Jones-Irwin Homewood, IL
    • (1988)
    • Haugen, R.A.1    Lakonishok, J.2
  • 25
    • 0040812987 scopus 로고    scopus 로고
    • The cross section of common stock returns: A review of the theory and some new findings
    • D. B. Keim, & W. T. Ziemba (Eds.), Cambridge: Cambridge University Press
    • Hawawini G. Keim D.B. The cross section of common stock returns: A review of the theory and some new findings In Keim D.B. & Ziemba W.T. (Eds.), Security market imperfections in world wide equity markets 2000 3-43 Cambridge University Press Cambridge
    • (2000) Security Market Imperfections in World Wide Equity Markets , pp. 3-43
    • Hawawini, G.1    Keim, D.B.2
  • 26
    • 0000398111 scopus 로고    scopus 로고
    • Investor psychology and asset pricing
    • Hirshleifer D. Investor psychology and asset pricing Journal of Finance 56 2001 1533-1597
    • (2001) Journal of Finance , vol.56 , pp. 1533-1597
    • Hirshleifer, D.1
  • 27
    • 0041075295 scopus 로고    scopus 로고
    • Profitability of momentum strategies: An evaluation of alternative explanations
    • Jegadeesh N. Titman S. Profitability of momentum strategies: An evaluation of alternative explanations Journal of Finance 56 2001 699-720
    • (2001) Journal of Finance , vol.56 , pp. 699-720
    • Jegadeesh, N.1    Titman, S.2
  • 28
    • 0001902216 scopus 로고
    • Intuitive prediction: Biases and corrective procedures
    • D. Kahneman, P. Slovic, & A. Tversky (Eds.), Cambridge: Cambridge University Press
    • Kahneman D. Tversky A. Intuitive prediction: Biases and corrective procedures In Kahneman D. Slovic P. & Tversky A. (Eds.), Judgment under uncertainty: Heuristics and biases 1982 414-421 Cambridge University Press Cambridge
    • (1982) Judgment Under Uncertainty: Heuristics and Biases , pp. 414-421
    • Kahneman, D.1    Tversky, A.2
  • 32
    • 84977707692 scopus 로고
    • Turn-of-month evaluations of liquid profits and stock returns: A common explanation for the monthly and January effects
    • Ogden J.P. Turn-of-month evaluations of liquid profits and stock returns: A common explanation for the monthly and January effects Journal of Finance 45 1990 1259-1272
    • (1990) Journal of Finance , vol.45 , pp. 1259-1272
    • Ogden, J.P.1
  • 34
    • 84977730469 scopus 로고
    • Portfolio rebalancing and the turn-of-the-year effect
    • Ritter J.R. Chopra N. Portfolio rebalancing and the turn-of-the-year effect Journal of Finance 44 1989 149-166
    • (1989) Journal of Finance , vol.44 , pp. 149-166
    • Ritter, J.R.1    Chopra, N.2
  • 35
    • 0002662410 scopus 로고
    • Vas ist das? The turn-of-the-year effect and the return premia of small firms
    • Roll R. Vas ist das? The turn-of-the-year effect and the return premia of small firms Journal of Portfolio Management 9 2 1983 18-28
    • (1983) Journal of Portfolio Management , vol.9 , Issue.2 , pp. 18-28
    • Roll, R.1
  • 36
    • 0010179854 scopus 로고    scopus 로고
    • Style return differentials: Illusions risk premiums, or investment opportunities
    • T. D. Coggin, F. J. Fabozzi, & R. D. Arnott (Eds.), 2nd ed. New Hope: F.J. Fabozzi Associates
    • Roll R. Style return differentials: Illusions risk premiums, or investment opportunities In Coggin T.D. Fabozzi F.J. & Arnott R.D. (Eds.), The handbook of equity style management 2nd ed. 1997 93 119 F.J. Fabozzi Associates New Hope
    • (1997) The Handbook of Equity Style Management , pp. 93-119
    • Roll, R.1
  • 37
    • 0003103704 scopus 로고
    • Rational behavior
    • J. Eatwell, M. Milgate, & P. Newman (Eds.), London: Macmillan
    • Sen A. Rational behavior In Eatwell J. Milgate M. & Newman P. (Eds.), Utility and probability 1990 198-216 Macmillan London
    • (1990) Utility and Probability , pp. 198-216
    • Sen, A.1
  • 38
    • 0003853423 scopus 로고    scopus 로고
    • Beyond greed and fear: Understanding behavioral finance and the psychology of investing
    • Boston: Harvard Press
    • Shefrin H. Beyond greed and fear: Understanding behavioral finance and the psychology of investing 1999 Harvard Press Boston
    • (1999)
    • Shefrin, H.1
  • 39
    • 0003275941 scopus 로고    scopus 로고
    • Human behavior and the efficiency of the financial system
    • J. B. Taylor, & M. Woodfood (Eds.), Amsterdam: North-Holland
    • Shiller R.J. Human behavior and the efficiency of the financial system In Taylor J.B. & Woodfood M. (Eds.), Handbook of macro economics 2000 North-Holland Amsterdam
    • (2000) Handbook of Macro Economics
    • Shiller, R.J.1
  • 40
    • 0039647027 scopus 로고    scopus 로고
    • Institutions and individuals at the turn-of-the-year
    • Sias R.W. Starks L.T. Institutions and individuals at the turn-of-the-year Journal of Finance 52 1997 1543-1562
    • (1997) Journal of Finance , vol.52 , pp. 1543-1562
    • Sias, R.W.1    Starks, L.T.2
  • 41
    • 84959810873 scopus 로고
    • A behavioral model of rational choice
    • Simon H.A. A behavioral model of rational choice Quarterly Journal of Economics 69 1955 99-118
    • (1955) Quarterly Journal of Economics , vol.69 , pp. 99-118
    • Simon, H.A.1
  • 42
    • 0000260296 scopus 로고
    • Analyzing the use of information in investment decision making: A methodological proposal
    • Slovic P. Fleissner D. Bauman W.S. Analyzing the use of information in investment decision making: A methodological proposal Journal of Business 45 1972 283-301
    • (1972) Journal of Business , vol.45 , pp. 283-301
    • Slovic, P.1    Fleissner, D.2    Bauman, W.S.3
  • 44
    • 84924508526 scopus 로고
    • Does the market rationally reflect fundamental values?
    • Summers L.H. Does the market rationally reflect fundamental values? Journal of Finance 41 1986 591-601
    • (1986) Journal of Finance , vol.41 , pp. 591-601
    • Summers, L.H.1
  • 47
    • 0002181937 scopus 로고    scopus 로고
    • The end of behavioral finance
    • Thaler R.H. The end of behavioral finance Financial Analysts Journal 55 6 1999 12-17
    • (1999) Financial Analysts Journal , vol.55 , Issue.6 , pp. 12-17
    • Thaler, R.H.1
  • 48
    • 0019392722 scopus 로고
    • The framing of decisions and the psychology of choice
    • Tversky A. Kahneman D. The framing of decisions and the psychology of choice Science 211 1981 453-458
    • (1981) Science , vol.211 , pp. 453-458
    • Tversky, A.1    Kahneman, D.2
  • 49
    • 31744450082 scopus 로고
    • Advances in prospect theory: Cumulative representation of uncertainty
    • Tversky A. Kahneman D. Advances in prospect theory: Cumulative representation of uncertainty Journal of Risk and Uncertainty 5 1992 297-323
    • (1992) Journal of Risk and Uncertainty , vol.5 , pp. 297-323
    • Tversky, A.1    Kahneman, D.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.