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dc.contributor.authorDanbolt, Jo
dc.contributor.authorEshraghi, Arman
dc.contributor.authorLukas, Marcel
dc.identifier.citationDanbolt , J , Eshraghi , A & Lukas , M 2022 , ' Investment transparency and the disposition effect ' , European Financial Management , vol. 28 , no. 3 , pp. 834-865 .
dc.identifier.otherPURE: 275067024
dc.identifier.otherPURE UUID: af013824-7e16-4427-9f86-e255c7a7dd03
dc.identifier.otherRIS: urn:EF925C69C73C061557525DFB92367EFF
dc.identifier.otherORCID: /0000-0001-7515-8062/work/97885707
dc.identifier.otherScopus: 85111546933
dc.identifier.otherWOS: 000679171400001
dc.descriptionFunding: Jo Danbolt holds the Baillie Gifford Chair in Financial Markets, and his research is partially funded by a Baillie Gifford endowment held by the University of Edinburgh Business School.en
dc.description.abstractThe disposition effect is lower in a trading environment with salient information on current holdings. Using proprietary data from a European fintech platform for social trading, we analyze variation in trading behavior within and between private and publicly-visible portfolios. The disposition effect diminishes by about 35% when trades and holdings become public. We find the level of transparency and the way financial information is illustrated can influence trading decisions. Our results suggests that requiring greater transparency from portfolio managers can reduce trading bias.
dc.relation.ispartofEuropean Financial Managementen
dc.rightsCopyright © 2021 John Wiley & Sons Ltd. This work has been made available online in accordance with publisher policies or with permission. Permission for further reuse of this content should be sought from the publisher or the rights holder. This is the author created accepted manuscript following peer review and may differ slightly from the final published version. The final published version of this work is available at
dc.subjectDisposition effecten
dc.subjectSocial tradingen
dc.subjectFund managementen
dc.subjectHG Financeen
dc.subjectHD28 Management. Industrial Managementen
dc.titleInvestment transparency and the disposition effecten
dc.typeJournal articleen
dc.contributor.institutionUniversity of St Andrews. School of Managementen
dc.description.statusPeer revieweden

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