学院新闻
   首页» 学院新闻
学院新闻
我院教师的论文被The Financial Review评为高被引论文
发布时间:2023-02-23       浏览量:

  

  近期,Wiley出版社和美国东部金融协会主办的期刊The Financial Review(ABS三星)发布通知,我院江婕老师(第一作者)和伍燕然老师(通讯作者)发表的论文“Are mutual fund investors loss averse? Evidence from China” 成为2021至2022年度基金投资领域引用次数最多的论文之一(引文数据来自Clarivate Analytics)。论文在线发表于2020年9月,正式出版时间为2021年5月。

  《金融评论》(The Financial Review)系基金投资研究领域的顶刊,旨在发表原创的实证、理论和方法论研究,为金融经济学所有领域的重要问题提供新的见解。研究主题包括资产定价、银行、公司融资、公司治理、衍生工具、金融中介、金融研究方法、投资管理、市场微观结构、并购、风险管理、风险测量、证券定价和市场均衡。

  

  江婕, David G. Shrider, Huangwen Ting, 伍燕然(通讯作者):"Are mutual fund investors loss averse? Evidence from China", FINANCIAL REVIEW,22 September 2020.

  论文摘要:Research shows that many investors are loss averse (reluctant to sell investments that have lost value). However, there is open debate about whether mutual fund investors suffer from loss aversion. We use over 300,000 Chinese mutual fund investor accounts from five open-end funds to test for loss aversion using survival analysis controlling for time-varying covariates (Cox analysis). We find strong evidence of loss aversion as these investors are between 60% and 91% less likely to sell a fund that is down in value across the five funds. We also find that more sophisticated investors are less loss averse.

  文章链接:https://doi.org/10.1111/fire.12252

  

  

  

  

  供稿:学科科研办公室

          责编:孙越

  审核:蔡宏波