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Investment transparency and the disposition effect

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dc.contributor.authorDanbolt, Jo
dc.contributor.authorEshraghi, Arman
dc.contributor.authorLukas, Marcel
dc.date.accessioned2023-07-28T23:37:49Z
dc.date.available2023-07-28T23:37:49Z
dc.date.issued2022-06-01
dc.identifier275067024
dc.identifieraf013824-7e16-4427-9f86-e255c7a7dd03
dc.identifier85111546933
dc.identifier000679171400001
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 . https://doi.org/10.1111/eufm.12329en
dc.identifier.issn1354-7798
dc.identifier.otherRIS: urn:EF925C69C73C061557525DFB92367EFF
dc.identifier.otherORCID: /0000-0001-7515-8062/work/97885707
dc.identifier.urihttps://hdl.handle.net/10023/28059
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.format.extent32
dc.format.extent749871
dc.language.isoeng
dc.relation.ispartofEuropean Financial Managementen
dc.subjectDisposition effecten
dc.subjectTransparencyen
dc.subjectSocial tradingen
dc.subjectFund managementen
dc.subjectHG Financeen
dc.subjectHD28 Management. Industrial Managementen
dc.subjectT-NDASen
dc.subjectMCCen
dc.subject.lccHGen
dc.subject.lccHD28en
dc.titleInvestment transparency and the disposition effecten
dc.typeJournal articleen
dc.contributor.institutionUniversity of St Andrews. School of Managementen
dc.identifier.doi10.1111/eufm.12329
dc.description.statusPeer revieweden
dc.date.embargoedUntil2023-07-29


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