Behavioral Finance: Investors, Corporations, and Markets - Hardcover

Hardcover

ISBN 10: 0470499117 ISBN 13: 9780470499115

Publisher: Wiley, 2010

Synopsis

A definitive guide to the growing field of behavioral finance

This reliable resource provides a comprehensive view of behavioral finance and its psychological foundations, as well as its applications to finance. Comprising contributed chapters written by distinguished authors from some of the most influential firms and universities in the world, Behavioral Finance provides a synthesis of the most essential elements of this discipline, including psychological concepts and behavioral biases, the behavioral aspects of asset pricing, asset allocation, and market prices, as well as investor behavior, corporate managerial behavior, and social influences.

• Uses a structured approach to put behavioral finance in perspective
• Relies on recent research findings to provide guidance through the maze of theories and concepts
• Discusses the impact of sub-optimal financial decisions on the efficiency of capital markets, personal wealth, and the performance of corporations

Behavioral finance has quickly become part of mainstream finance. If you need to gain a better understanding of this topic, look no further than this book.

About this title

About the Author

H. KENT BAKER, PHD, CFA, CMA, is University Professor of Finance and Kogod Research Professor at the Kogod School of Business, American University. He has published extensively in leading academic and professional finance journals including the Journal of Finance Journal of Financial and Quantitative Analysis,Financial Management, Financial Analysts Journal, Journal of Portfolio Management, and Harvard Business Review. Professor Baker is recognized as one of the most prolific authors in finance during the past fifty years. He has consulting and training experience with more than 100 organizations and has been listed in fifteen biographies.

JOHN R. NOFSINGER is an Associate Professor of Finance and Nihoul Faculty Fellow at Washington State University. He is one of the world's leading experts in behavioral finance and is a frequent speaker on this topic at investment management conferences, universities, and academic conferences. Nofsinger has often been quoted or appeared in the financial media, including the Wall Street Journal, Financial Times, Fortune, BusinessWeek, Bloomberg, and CNBC. He writes a blog called "Mind on My Money" at psychologytoday.com.

From the Back Cover

BEHAVIORAL FINANCE

The Robert W. Kolb Series in Finance is an unparalleled source of information dedicated to the most important issues in modern finance. Each book focuses on a specific topic in the field of finance and contains contributed chapters from both respected academics and experienced financial professionals. As part of the Robert W. Kolb Series in Finance, Behavioral Finance aims to provide a comprehensive understanding of the key themes associated with this growing field and how they can be applied to investments, corporations, markets, regulations, and education.

Behavioral finance has the potential to explain not only how people make financial decisions and how markets function, but also how to improve them. This book provides invaluable insights into behavioral finance, its psychological foundations, and its applications to finance.

Comprising contributed chapters by a distinguished group of academics and practitioners, Behavioral Finance provides a synthesis of the most essential elements of this discipline. It puts behavioral finance in perspective by detailing the current state of research in this area and offers practical guidance on applying the information found here to real-world situations.

Behavioral finance has increasingly become part of mainstream finance. If you intend on gaining a better understanding of this discipline, look no further than this book.

From the Inside Flap

Behavioral finance has increasingly become part of mainstream finance--helping to provide explanations for our economic decisions by combining behavioral and cognitive psychological theory with conventional economics and finance.

Filled with in-depth insights and practical advice, this reliable resource--part of the Robert W. Kolb Series in Finance--provides a comprehensive view of behavioral finance by discussing the current state of research in this area and detailing its potential impact on investors, corporations, and markets.

Comprising contributed chapters by distinguished experts from some of the most influential firms and universities in the world, Behavioral Finance provides a synthesis of the essential elements of this discipline including psychological concepts and behavioral biases; the behavioral aspects of asset pricing, asset allocation, and market prices; investor behavior, corporate managerial behavior, and social influences. Divided into six comprehensive parts, it skillfully:

• Describes the fundamental heuristics, cognitive errors, and psychological biases that affect financial decisions
• Discusses market inefficiency and behavioral-based pricing models
• Explores corporate and executive behavioral finance and examines the behavioral influences involving their investment and financing decisions
• Addresses how behavioral finance applies to individual and institutional investors' holdings and their trading endeavors
• Shows how cultural factors and societal attitudes affect markets

Behavioral Finance contains the latest information from some of the leading practitioners and academics in this field. Engaging and accessible, this book provides a clear understanding of how people make financial decisions and their effects on today's markets.

Edition details

• Publisher: Wiley
• Publication date: 2010
• Language: English
• ISBN 10: 0470499117
• ISBN 13: 9780470499115
• Binding: Hardcover
• Edition number: 1
• Number of pages: 768
• Editor: Baker H. Kent, Nofsinger John R.