In today's investment world there is emphasis on the role of accounting information. Behavioral factors always play an important role in financial markets. All investors are not rational and their demand for riskiness of assets is influenced by their beliefs and feelings. Optimism, pessimism, self-confidence, ambiguity-aversion, etc. help changing the manner of decision-making process over time...

Assessing the predictive ability of behavioral finance theories using out-of-sample data is important. The potentially boundless set of psychological biases underlying the behavioral explanations for observed security price behavior risk over-fitting theory to data. We test pricing effects attributed to a central psychological bias, representativeness, which underlies many behavioral-finance th...

We use a new and unique dataset to investigate the way investors react to prior gains/losses and the so called ”familiarity” bias. We distinguish between di¤erent behavioral theories (loss aversion, house-money e¤ect, mental accounting) and between behavioral and rational hypotheses (pure familiarity and informationbased familiarity). We show that, on an yearly horizon, investors react to previ...

This study examined the impact of educational, legal, and behavioral factors on applicability forensic accounting in public sector Nigeria. The utilized primary data through administration questionnaires to accountants internal external auditors drawn from seven states North-Western geo-political zone Partial Least Squares (PLS) path modeling using smart PLS3 Statistical Software was employed f...