| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7426 |
| DP7426 Nowcasting, Business Cycle Dating and the Interpretation of New Information when Real-Time Data are Available | |
| Kevin Lee; Nils Olekalns; Kalvinder Shields | |
| 发表日期 | 2009-09-20 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | Using a novel and unique dataset from Norway, we analyze whether professional proximity is associated with asymmetric information and abnormal returns. We find that individuals hold an excess weight in stocks that are professionally close. For example, after excluding holdings of own-company and previous employer stock, investors on average hold 11% of their portfolio in stocks within their two-digit industry of employment. We find no evidence that investments in professionally close stocks are associated with a positive abnormal return in either the short or the long term. In some specifications, we find evidence of a negative abnormal return. We conclude there is no evidence of professional proximity being associated with asymmetric information and abnormal returns. |
| 主题 | Financial Economics ; Labour Economics |
| 关键词 | Asymmetric information Behavioural finance Familiarity Household finance |
| URL | https://cepr.org/publications/dp7426 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536279 |
| 推荐引用方式 GB/T 7714 | Kevin Lee,Nils Olekalns,Kalvinder Shields. DP7426 Nowcasting, Business Cycle Dating and the Interpretation of New Information when Real-Time Data are Available. 2009. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
