Theories from traditional finance (e.g. agency theory) are not suitable for impression management research as they are based on fundamental assumptions of manager and investor rationality. For the assumption that impression management results in capital misallocations to hold true requires alternative theoretical perspectives. This paper develops theoretical perspectives on corporate narrative ...

The question about whether investor sentiment correlates with their corporate investment is often examined in the literature. Thus, based on behavioral finance theory, this paper aims to investigate whether investor sentiment in stock market has an impact on corporate investment in listed Chinese firms, where the mutual fund flows is taken as the proxy variable of investor sentiment for stocks....

Women are less likely than men to hold risky financial assets, a fact that has often been attributed differences in risk aversion and, more recently, literacy and investor confidence. This paper studies the role of individuals’ confidence their own explaining gender gap investment while controlling for actual measure aversion. It is first assess independent knowledge large set countries it expl...

a r t i c l e i n f o Based on the underestimation model in bear markets and the overestimation model in bull markets, we propose two types of sentiment asset pricing models to study the effects of investor sentiment on stock prices and limit of arbitrage. The two sentiment asset pricing models demonstrate that investor sentiment has a systematic and significant impact on stock prices; furtherm...

This paper investigates continuous-time optimal portfolio and consumption problems under loss aversion in an infinite horizon. The investor’s goal is to choose optimal portfolio and consumption policies to maximize total discounted S-shaped utility from consumption. The consumption rate process is subject to a downside constraint. The optimal consumption and portfolio policies are obtained thro...

Investor decision making has always been affected by two factors: risk and returns. Considering risk, the investor expects an acceptable return on the investment decision horizon. Accordingly, defining goals and constraints for each investor can have unique prioritization. This paper develops several approaches to multi criteria portfolio optimization. The maximization of stock returns, the pow...

The purpose of this study is to provide a broad overview the clawback provision and research ideas related implementation in Indonesia. In addition, there also on good bad impacts application can have impact Indonesia terms improving company performance, increasing public investor confidence, but it necessary consider different cultural factors between America that cause implementing cannot pro...

CONTEXT The proportion of health maintenance organization (HMO) members enrolled in investor-owned plans has increased sharply, yet little is known about the quality of these plans compared with not-for-profit HMOs. OBJECTIVE To compare quality-of-care measures for investor-owned and not-for-profit HMOs. DESIGN, SETTING, AND PARTICIPANTS Analysis of the Health Plan Employer Data and Informa...

We solve a portfolio selection problem of an investor with a deterministic savings plan who aims to have a target wealth value at retirement. The investor is an expected power utility-maximizer. The target wealth value is the maximum wealth that the investor can have at retirement. By constraining the investor to have no more than the target wealth at retirement, we find that the lower quantile...

The purpose of this study is to explore how strengthening sharia compliance on the Indonesia Stock Exchange can increase investor interest in investing Islamic capital market. This uses a qualitative method. results show that strong shariah confidence market and help attract potential investors who may not be interested conventional investments. In addition, also minimize investment risk long-t...