I will trade, just not today: Individual investor trading activity around birthdays-Reference-Cited by-同舟云学术

I will trade, just not today: Individual investor trading activity around birthdays

Published:2023-12-11 Issue: Volume: Page:
ISSN:1354-7798
Container-title:European Financial Management
language:en
Short-container-title:Euro Fin Management

Author:

Bajo Emanuele¹,Randl Otto²^ORCID,Simion Giorgia²^ORCID

Affiliation:

1. Department of Management University of Bologna Bologna Italy

2. Department of Finance, Accounting, and Statistics WU Vienna University of Economics and Business Wien Austria

Abstract

AbstractIn this paper we provide new evidence of investor inattention by showing that personal occurrences such as birthdays are able to drive attention away from the stock market. We document that individual investors significantly reduce their trading activity in the 3 days around their birthday. The reduction in the propensity to trade is larger for more active traders, in the event of a decade birthday and when this celebrative event falls on a Friday. Results are robust to analyses focusing only on days when investor attention should be at its peak, as expressed by excess news coverage and trading volumes.

Publisher

Wiley

Subject

General Economics, Econometrics and Finance,Accounting

Link

https://onlinelibrary.wiley.com/doi/pdf/10.1111/eufm.12472

Reference32 articles.

1. How Old Are You? Age Consciousness in American Culture

2. Death has a preference for birthdays—an analysis of death time series

3. Trading Is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors

4. Boys will be Boys: Gender, Overconfidence, and Common Stock Investment

5. All That Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors