Details

Autor(en) / Beteiligte

• Sicherman, Nachum
• Loewenstein, George
• Seppi, Duane J.
• Utkus, Stephen P.

Titel

Financial Attention

Ist Teil von

• The Review of financial studies, 2016-04, Vol.29 (4), p.863-897

Ort / Verlag

Oxford: Oxford University Press

Erscheinungsjahr

2016

Link zum Volltext

Quelle

EBSCOhost Business Source Ultimate

Beschreibungen/Notizen

• This paper investigates financial attention using novel panel data on daily investor online account logins. We find support for selective attention to portfolio information. Account logins fall by 9.5% after market declines. Investors also pay less attention when the VIX volatility index is high. The level of attention and the attention/return correlation are strongly related to investor demographics (gender, age) and financial position (wealth, holdings). Using a new statistical decomposition, we show how aggregate and individual household trading are related to investor attention.