文章基本信息

标题：Emotions and Exposure to Risk: the Influence of Positive and Negative Emotions on Portfolio Decisions
本地全文：下载
作者：Ibrahim Filiz
期刊名称：Journal of Finance and Investment Analysis
印刷版ISSN：2241-0988
电子版ISSN：2241-0996
出版年度：2021
卷号：10
期号：1
页码：25-62
DOI：10.47260/jfia/1013
语种：English
出版社：Scienpress Ltd
摘要：This experimental study addresses the question of whether positive and negative emotions have an influence on diversification behaviour, and it reveals that only a small part of subjects take rational decisions and always choose the optimal portfolio. In addition, the study shows that the mood of subjects has an influence on their portfolio decisions and thus also on their exposure to risk. The average risk of the portfolio - measured against the standard deviation of the returns - is lower in the treatment entitled ‘neutral’ than in the treatments entitled ‘positive’ and ‘negative’.
关键词：Emotions;Risk exposure;Laboratory experiment;Portfolio choice;Investment decisions;Investor rationality.