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Appears in Collections:Accounting and Finance Working Papers
Title: Do Happy People Make Optimistic Investors?
Authors: Kaplanski, Guy
Levy, Haim
Veld, Chris
Veld-Merkoulova, Yulia V
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Citation: Kaplanski G, Levy H, Veld C & Veld-Merkoulova YV (2013) Do Happy People Make Optimistic Investors?. SSRN Working Paper Series, 2009319. Social Science Research Network.
Keywords: sentiment-creating factors
individual investors
seasonal affective disorder
Issue Date: 13-Feb-2013
Publisher: Social Science Research Network
Series/Report no.: SSRN Working Paper Series, 2009319
Abstract: Do happy people predict future risk and return differently from unhappy people, or do individuals rely only on economic facts? We survey investors on their subjective sentiment-creating factors, return and risk expectations, and investment plans. We find that non-economic factors systematically affect return and risk expectations, where the return effect is more profound. Investment plans are also affected by non-economic factors. Sports results and general feelings significantly affect predictions. Sufferers from seasonal affective disorder have lower return expectations in the autumn than in other seasons, supporting the Winter Blues hypothesis.
Type: Working or Discussion Paper
Rights: Copyright is held by the authors.
Affiliation: Bar Ilan University
Hebrew University of Jerusalem
University of Glasgow
Accounting and Finance

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