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Recent Experiences and Risk Taking: Trading Responses to Changes in the Local Environment

UNIVERSITY OF TECHNOLOGY SYDNEY
Finance Discipline Group 
Research Seminars in Finance
 
Topic: Recent Experiences and Risk Taking: Trading Responses to Changes in the Local Environment
 
Speaker: Benjamin Loos,Mannheim University
 
Abstract:      

Factors determining individual investors’ (over)trading and risk-taking behavior are difficult to establish. Using panel data, we compare the behavior of individual investors with different exposures to non-informative shocks within their local environment. We use ZIP codes to match investors with nearby bankruptcies of mostly small firms. Results show that investors increase turnover and decrease risk taking, and that trading responses are strongly related to the proximity and recency of local bankruptcies. Results are similar when we limit the analysis to investors least likely to be personally affected by bankruptcies.

 
A light lunch will be provided at 1p.m. Please RSVP for catering purposes to Mala Kapahi by 12 noon on Monday, 3rd April.
 
Date: Wednesday, 5th April 2017      
Time: 12.00 – 1.00 p.m.
Venue: University of Technology, Sydney
             Building 8
             Dr Chau Chak Wing Building
             14 - 28 Ultimo Road, Ultimo
 
Co-ordinator: Adrian Lee (Ph: +61 2 9514 7765)
 
Enquiries: Mala Kapahi (Ph: +61 2 9514 7777)

When

5 April 2017
12:00 pm - 1:00 pm

Where

City - HaymarketCB08 Dr Chau Chak Wing Building, Building 8