Why investors do not buy cheaper securities: Evidence from a natural experiment

Why Do Investors Trade?

We propose and estimate a structural model of daily stock market activity to test competing theories of trading volume. The model features informed rational speculators and uninformed agents who trade either to hedge endowment shocks or to speculate on perceived information. To identify the model parameters, we exploit enormous empirical variation in trading volume, market liquidity, and return...

Why do foreign investors underperform domestic investors in trading activities? Evidence from Indonesia

Foreign investors generally underperform domestic investors in trading activities. This study shows that their inferior performance is attributable to non-initiated orders. Foreign investors actually perform better than domestic investors in initiated orders. In addition, their performance is also mixed when trades are classified depending on who the counterparties are. These mixed performances...

Why Do Consumers Buy Counterfeit Luxury Brands?

Vol. XLVI (April 2009), 247–259 247 © 2009, American Marketing Association ISSN: 0022-2437 (print), 1547-7193 (electronic) *Keith Wilcox is a doctoral candidate in Marketing (e-mail: [email protected]), and Sankar Sen is Professor of Marketing (e-mail: [email protected]), Baruch College, City University of New York. Hyeong Min Kim is Assistant Professor of Marketing, Carey B...

Why Do Retail Investors Make Costly Mistakes? An Experiment on Mutual Fund Choice

Why do people buy virtual goods: A meta-analysis

During the last decade, virtual goods have become an important target of consumption online (especially in games, virtual worlds and social networking services) amongst physical and digital goods. In this study we investigate the question of why do people purchase virtual goods by conducting a metaanalysis (random effects model) of the existing quantitative body of literature (24 studies) on th...