Overview

Financial Behavior: Players, Services, Products, and Markets provides a synthesis of the theoretical and empirical literature on the financial behavior of major stakeholders, financial services, investment products, and financial markets. The book offers a different way of looking at financial and emotional well-being and processing beliefs, emotions, and behaviors related to money. The book provides important insights about cognitive and emotional biases that influence various financial decision-makers, services, products, and markets. With diverse concepts and topics, the book brings together noted scholars and practitioners so readers can gain an in-depth understanding about this topic from experts from around the world.In today's financial setting, the discipline of behavioral finance is an ever-changing area that continues to evolve at a rapid pace. This book takes readers through the core topics and issues as well as the latest trends, cutting-edge research developments, and real-world situations. Additionally, discussion of research on various cognitive and emotional issues is covered throughout the book. Thus, this volume covers a breadth of content from theoretical to practical, while attempting to offer a useful balance of detailed and user-friendly coverage. Those interested in a broad survey will benefit as will those searching for more in-depth presentations of specific areas within this field of study. As the seventh book in the Financial Markets and Investment Series, Financial Behavior: Players, Services, Products, and Markets offers a fresh looks at the fascinating area of financial behavior.

Full Product Details

Author:   H. Kent Baker (University Professor of Finance and Kogod Research Professor, University Professor of Finance and Kogod Research Professor, Kogod School of Business, American University, Washington DC) ,  Greg Filbeck (Samuel P. Black III Professor of Finance and Risk Management, Samuel P. Black III Professor of Finance and Risk Management, Penn State Erie, The Behrend College, Erie, PA) ,  Victor Ricciardi (Assistant Professor of Financial Management, Assistant Professor of Financial Management, Goucher College)
Publisher:   Oxford University Press Inc
Imprint:   Oxford University Press Inc
Dimensions:   Width: 23.60cm , Height: 4.10cm , Length: 16.30cm
Weight:   0.001kg
ISBN:  

9780190269999

ISBN 10:   0190269995
Pages:   680
Publication Date:   15 June 2017
Audience:   College/higher education ,  Postgraduate, Research & Scholarly
Format:   Hardback
Publisher's Status:   Active
Availability:   To order  
Stock availability from the supplier is unknown. We will order it for you and ship this item to you once it is received by us.

Table of Contents

Contents List of Figures List of Tables About the Editors About the Contributors Abbreviations Part One FINANCIAL BEHAVIOR AND PSYCHOLOGY 1. Financial Behavior: An Overview H. Kent Baker, Greg Filbeck, and Victor Ricciardi 2. The Financial Psychology of Players, Services, and Products Victor Ricciardi Part Two THE FINANCIAL BEHAVIOR OF MAJOR PLAYERS 3. Individual Investors Henrik Cronqvist and Danling Jiang 4. Institutional Investors Alexandre Skiba and Hilla Skiba 5. Corporate Executives, Directors, and Boards John R. Nofsinger and Pattanaporn Chatjuthamard 6. Financial Planners and Advisors Benjamin F. Cummings 7. Financial Analysts Susan M. Young 8. Portfolio Managers Erik Devos, Andrew C. Spieler, and Joseph M. Tenaglia 9. Financial Psychopaths Deborah W. Gregory Part Three FINANCIAL AND INVESTOR PSYCHOLOGY OF SPECIFIC PLAYERS 10. The Psychology of High Net Worth Individuals Rebecca Li-Huang 11. The Psychology of Traders Duccio Martelli 12. A Closer Look at Frequent Trader Michal Strahivevitz 13. The Psychology of Women Investors Marguerita M. Cheng, and Sameer S. Somal 14. The Financial Psychology of Millennials April Rudin and Catherine McBreen Part Four THE PSYCHOLOGY OF FINANCIAL SERVICES 15. Psychological Aspect of Financial Planning Dave Yeske and Elissa Buie 16. Financial Advisory Services Jeroen Nieboer, Paul Dolan, and Ivo Vlaev 17. Insurance and Risk Management James M. Moten Jr. and C. W. Copeland 18. Psychological Factors in Estate Planning John Guerin and L. Paul Hood 19. Individual Biases in Retirement Planning and Wealth Management James E. Brewer Jr., and Charles Self III Part Five THE BEHAVIORAL ASPECTS OF INVESTMENT PRODUCTS AND MARKETS 20. Traditional Asset Allocation Securities: Stocks, Bonds, Real Estate, and Cash Christopher Milliken, Ehsan Nikbakht, and Andrew Spieler 21. Behavioral Aspects of Mutual Funds, Exchange-Traded Funds, Hedge Funds, and Pension Funds Nathan Mauck 22. Current Trends in Successful International Mergers and Acquisitions Nancy Hubbard 23. Art and Collectibles Management Peter J. May Part Six MARKET EFFICIENCY ISSUES 24. Behavioral Finance Market Hypothesis Alex Plastun 25. Stock Market Anomalies Steve Fan and Linda Yu 26. The Psychology of Speculation in Financial Markets Victor Ricciardi 27. Can Humans Dance with Machines? Institutional Investors, High Frequency Trading, and Modern Markets Dynamics Irene Aldridge Part Seven THE APPLICATION AND FUTURE OF BEHAVIORAL FINANCE 28. Applications of Client Behavior: A Practitioner's Perspective Harold Evensky 29. Practical Challenges of Implementing Behavioral Finance: Reflections from the Field Greg B. Davies and Peter Brooks 30. The Future of Behavioral Finance Michael Dowling and Brian Lucey Discussion Questions and Answers Index

Reviews

"""Financial Behavior is a rich resource for professionals who are devoted to the financial well-being of wealthy individuals and recognize that understanding one s clients consists of more than knowing their risk tolerances and return expectations."" -- Financial Analysts Journal ""It is arguably one of the most comprehensive presentations on the way the new paradigm of behavioral finance impacts the financial landscape and the microeconomics of agency. The text is unusual in both the extensive ground it covers and its potential readership. Essential."" -- CHOICE ""This collection is now the definitive work on behavioral finance. It examines market behavior, the psychological influences on CEOs, institutional investors, traders, advisors, and their high net worth clients that create patterns in asset prices, including the crucial angle of practical applications. This is a wonderful text."" -- Richard L. Peterson, M.D., CEO of the MarketPsych Group and author of Inside the Investor's Brain ""For those who want an extension of the usual behavioral finance heuristics, Baker, Filbeck and Ricciardi expand their treatment of cognitive and emotional biases to a wide variety of tangential areas. Readers will find fascinating applications to areas as diverse as financial psychopaths and bounded rationality. This book should be of interest to financial analysts and advisors, portfolio managers, and anyone else with a strong interest in behavioral finance. Highly recommended."" -- Gary Antonacci, author of Dual Momentum Investing: An Innovative Strategy for Higher Returns with Lower Risk ""This new book has broad-based appeal as it is an invaluable behavioral finance resource to have on your bookshelf whether you are a financial planning practitioner, investment professional, individual investor or in academia as an instructor or student. Baker, Filbeck and Ricciardi have provided a de facto must-read for anyone who is interested in better understanding human behavior and its resultant impact on financial planning and investing."" -- Paul Bennett, PhD, CFP®, author of The Money Navigator: The Essential Guide to Living Your Ideal Financial Life ""Those of us in the business of investing on behalf of clients are acutely aware of the way in which behavior and sentiment cloud investors' decision-making. Financial Behavior provides a fine overview of the latest research and thinking from the evolving field of behavioral finance, with great value for audiences ranging from students and academics to investors and financial professionals."" -- Gregg S. Fisher, CFA, CFP®, Founder & Head of Quantitative Research and Portfolio Strategy ""Kent Baker, Greg Filbeck and Victor Ricciardi perform an excellent service in this collection of articles that add to our knowledge of the effects of cognition and emotion on the financial choices we all make. Financial academics and practitioners would benefits greatly from reading this book."" -- Meir Statman, Glenn Klimek Professor of Finance, Leavey School of Business, Santa Clara University and author of Finance for Normal People ""The introduction by the editors says that behavioral finance studies the psychological influences of the decision-making process for individuals, groups, organizations and markets. It seeks to explain not just individual investment behavior, but market inefficiencies, stock market anomalies, and other occurrences that contradict the assumptions of traditional finance. Among the latter are that people act rationally, make unbiased judgments, and maximize their self-interest - the rational underpinnings of the efficient market hypothesis."" - Katherine Heires, Contributor, GARP Risk Intelligence"

It is arguably one of the most comprehensive presentations on the way the new paradigm of behavioral finance impacts the financial landscape and the microeconomics of agency. The text is unusual in both the extensive ground it covers and its potential readership... Essential. * S. J. Gabriel (Mount Holyoke College), Choice Reviews Vol 55. *

It is arguably one of the most comprehensive presentations on the way the new paradigm of behavioral finance impacts the financial landscape and the microeconomics of agency. The text is unusual in both the extensive ground it covers and its potential readership. Essential. -- CHOICE This collection is now the definitive work on behavioral finance. It examines market behavior, the psychological influences on CEOs, institutional investors, traders, advisors, and their high net worth clients that create patterns in asset prices, including the crucial angle of practical applications. This is a wonderful text. -- Richard L. Peterson, M.D., CEO of the MarketPsych Group and author of Inside the Investor's Brain For those who want an extension of the usual behavioral finance heuristics, Baker, Filbeck and Ricciardi expand their treatment of cognitive and emotional biases to a wide variety of tangential areas. Readers will find fascinating applications to areas as diverse as financial psychopaths and bounded rationality. This book should be of interest to financial analysts and advisors, portfolio managers, and anyone else with a strong interest in behavioral finance. Highly recommended. -- Gary Antonacci, author of Dual Momentum Investing: An Innovative Strategy for Higher Returns with Lower Risk This new book has broad-based appeal as it is an invaluable behavioral finance resource to have on your bookshelf whether you are a financial planning practitioner, investment professional, individual investor or in academia as an instructor or student. Baker, Filbeck and Ricciardi have provided a de facto must-read for anyone who is interested in better understanding human behavior and its resultant impact on financial planning and investing. -- Paul Bennett, PhD, CFP(R), author of The Money Navigator: The Essential Guide to Living Your Ideal Financial Life Those of us in the business of investing on behalf of clients are acutely aware of the way in which behavior and sentiment cloud investors' decision-making. Financial Behavior provides a fine overview of the latest research and thinking from the evolving field of behavioral finance, with great value for audiences ranging from students and academics to investors and financial professionals. -- Gregg S. Fisher, CFA, CFP(R), Founder & Head of Quantitative Research and Portfolio Strategy Kent Baker, Greg Filbeck and Victor Ricciardi perform an excellent service in this collection of articles that add to our knowledge of the effects of cognition and emotion on the financial choices we all make. Financial academics and practitioners would benefits greatly from reading this book. -- Meir Statman, Glenn Klimek Professor of Finance, Leavey School of Business, Santa Clara University and author of Finance for Normal People This collection is now the definitive work on behavioral finance. It examines market behavior, the psychological influences on CEOs, institutional investors, traders, advisors, and their high net worth clients that create patterns in asset prices, including the crucial angle of practical applications. This is a wonderful text. -- Richard L. Peterson, M.D., CEO of the MarketPsych Group and author of Inside the Investor's Brain For those who want an extension of the usual behavioral finance heuristics, Baker, Filbeck and Ricciardi expand their treatment of cognitive and emotional biases to a wide variety of tangential areas. Readers will find fascinating applications to areas as diverse as financial psychopaths and bounded rationality. This book should be of interest to financial analysts and advisors, portfolio managers, and anyone else with a strong interest in behavioral finance. Highly recommended. -- Gary Antonacci, author of Dual Momentum Investing: An Innovative Strategy for Higher Returns with Lower Risk This new book has broad-based appeal as it is an invaluable behavioral finance resource to have on your bookshelf whether you are a financial planning practitioner, investment professional, individual investor or in academia as an instructor or student. Baker, Filbeck and Ricciardi have provided a de facto must-read for anyone who is interested in better understanding human behavior and its resultant impact on financial planning and investing. -- Paul Bennett, PhD, CFP(R), author of The Money Navigator: The Essential Guide to Living Your Ideal Financial Life Those of us in the business of investing on behalf of clients are acutely aware of the way in which behavior and sentiment cloud investors' decision-making. Financial Behavior provides a fine overview of the latest research and thinking from the evolving field of behavioral finance, with great value for audiences ranging from students and academics to investors and financial professionals. -- Gregg S. Fisher, CFA, CFP(R), Founder & Head of Quantitative Research and Portfolio Strategy Kent Baker, Greg Filbeck and Victor Ricciardi perform an excellent service in this collection of articles that add to our knowledge of the effects of cognition and emotion on the financial choices we all make. Financial academics and practitioners would benefits greatly from reading this book. -- Meir Statman, Glenn Klimek Professor of Finance, Leavey School of Business, Santa Clara University and author of Finance for Normal People

Financial Behavior is a rich resource for professionals who are devoted to the financial well-being of wealthy individuals and recognize that understanding one s clients consists of more than knowing their risk tolerances and return expectations. -- Financial Analysts Journal It is arguably one of the most comprehensive presentations on the way the new paradigm of behavioral finance impacts the financial landscape and the microeconomics of agency. The text is unusual in both the extensive ground it covers and its potential readership. Essential. -- CHOICE This collection is now the definitive work on behavioral finance. It examines market behavior, the psychological influences on CEOs, institutional investors, traders, advisors, and their high net worth clients that create patterns in asset prices, including the crucial angle of practical applications. This is a wonderful text. -- Richard L. Peterson, M.D., CEO of the MarketPsych Group and author of Inside the Investor's Brain For those who want an extension of the usual behavioral finance heuristics, Baker, Filbeck and Ricciardi expand their treatment of cognitive and emotional biases to a wide variety of tangential areas. Readers will find fascinating applications to areas as diverse as financial psychopaths and bounded rationality. This book should be of interest to financial analysts and advisors, portfolio managers, and anyone else with a strong interest in behavioral finance. Highly recommended. -- Gary Antonacci, author of Dual Momentum Investing: An Innovative Strategy for Higher Returns with Lower Risk This new book has broad-based appeal as it is an invaluable behavioral finance resource to have on your bookshelf whether you are a financial planning practitioner, investment professional, individual investor or in academia as an instructor or student. Baker, Filbeck and Ricciardi have provided a de facto must-read for anyone who is interested in better understanding human behavior and its resultant impact on financial planning and investing. -- Paul Bennett, PhD, CFP (R), author of The Money Navigator: The Essential Guide to Living Your Ideal Financial Life Those of us in the business of investing on behalf of clients are acutely aware of the way in which behavior and sentiment cloud investors' decision-making. Financial Behavior provides a fine overview of the latest research and thinking from the evolving field of behavioral finance, with great value for audiences ranging from students and academics to investors and financial professionals. -- Gregg S. Fisher, CFA, CFP (R), Founder & Head of Quantitative Research and Portfolio Strategy Kent Baker, Greg Filbeck and Victor Ricciardi perform an excellent service in this collection of articles that add to our knowledge of the effects of cognition and emotion on the financial choices we all make. Financial academics and practitioners would benefits greatly from reading this book. -- Meir Statman, Glenn Klimek Professor of Finance, Leavey School of Business, Santa Clara University and author of Finance for Normal People The introduction by the editors says that behavioral finance studies the psychological influences of the decision-making process for individuals, groups, organizations and markets. It seeks to explain not just individual investment behavior, but market inefficiencies, stock market anomalies, and other occurrences that contradict the assumptions of traditional finance. Among the latter are that people act rationally, make unbiased judgments, and maximize their self-interest - the rational underpinnings of the efficient market hypothesis. - Katherine Heires, Contributor, GARP Risk Intelligence

This collection is now the definitive work on behavioral finance. It examines market behavior, the psychological influences on CEOs, institutional investors, traders, advisors, and their high net worth clients that create patterns in asset prices, including the crucial angle of practical applications. This is a wonderful text. -- Richard L. Peterson, M.D., CEO of the MarketPsych Group and author of Inside the Investor's Brain For those who want an extension of the usual behavioral finance heuristics, Baker, Filbeck and Ricciardi expand their treatment of cognitive and emotional biases to a wide variety of tangential areas. Readers will find fascinating applications to areas as diverse as financial psychopaths and bounded rationality. This book should be of interest to financial analysts and advisors, portfolio managers, and anyone else with a strong interest in behavioral finance. Highly recommended. -- Gary Antonacci, author of Dual Momentum Investing: An Innovative Strategy for Higher Returns with Lower Risk This new book has broad-based appeal as it is an invaluable behavioral finance resource to have on your bookshelf whether you are a financial planning practitioner, investment professional, individual investor or in academia as an instructor or student. Baker, Filbeck and Ricciardi have provided a de facto must-read for anyone who is interested in better understanding human behavior and its resultant impact on financial planning and investing. -- Paul Bennett, PhD, CFP(R), author of The Money Navigator: The Essential Guide to Living Your Ideal Financial Life Those of us in the business of investing on behalf of clients are acutely aware of the way in which behavior and sentiment cloud investors' decision-making. Financial Behavior provides a fine overview of the latest research and thinking from the evolving field of behavioral finance, with great value for audiences ranging from students and academics to investors and financial professionals. -- Gregg S. Fisher, CFA, CFP(R), Founder & Head of Quantitative Research and Portfolio Strategy Kent Baker, Greg Filbeck and Victor Ricciardi perform an excellent service in this collection of articles that add to our knowledge of the effects of cognition and emotion on the financial choices we all make. Financial academics and practitioners would benefits greatly from reading this book. -- Meir Statman, Glenn Klimek Professor of Finance, Leavey School of Business, Santa Clara University and author of Finance for Normal People

Author Information

H. Kent Baker is University Professor of Finance and Kogod Research Professor, Kogod School of Business, American University, and one of the most prolific finance academics. Greg Filbeck is Samuel P. Black III Professor of Finance and Risk Management, Penn State Erie, The Behrend College, and serves as the Interim Director for the Black School of Business. Victor Ricciardi specializes in current trends in behavioral finance as Assistant Professor of Financial Management, Goucher College, and Coordinator of Behavioral and Experimental Research for the Social Science Research Network (SSRN).

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