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Washington State University professor Jiang George

2019年10月18日 13:04  点击:[]

Date: July 21, 2014 (Monday) morning 10:30-12:00
Venue: Institute of Finance Conference Room 202 (Guanghua campus original veteran center two floor, north gate near the basketball court)
The fourteen International Symposium on Financial Research Institute of the 2014 Summer
Southwest University of Finance and Economics Institute of Finance (Institute of financial studies, SWUFE) invited famous scholar at Washington State University (Washington State University) Jiang George professor will come to our school to academic exchanges, there will be in the Financial Research Institute of the 202 room academic lectures. Invite the students to participate!
The main topic: Sentimental Mutual Fund Flows
Speaker: George Jiang Professor, Washington State University
Speaker introduction:
Professor George Jiang, Gary P. Brinson chair of investment management, Department of Finance and management science, Washington State University, in 1996 at the University of Western Ontario, obtained a doctorate in economics. George Jiang professor of research field including asset pricing theory, investment theory, efficient capital market etc.. His current research focuses on tests of asset pricing models and cross-sectional stock return distribution, informational uncertainty in financial markets etc..
George Jiang professor of resumes and other details see:
Http://www.cb.wsu.edu/directory/profile.cfm emp=jiang_george?
Abstract:
Sentiment-driven investors tend to trade more aggressively but are more inexperienced and Na ve. Using mutual fund her flows, we examine investor behavior during high and low sentiment periods. Our results show that retail investors move money toward funds with smaller size, higher market exposure, higher past returns, and more visibility during high sentiment period. On the other hand. Retail investors are more sensitive to fund expenses, fund portfolio styles, and reputation of fund managers during low sentiment period. We further show that in contrast to retail investors, institutional investor behavior does not vary significantly between high and low sentiment periods. Finally, we show that the performance of new money flows is consistent With implications of investment sentiment on stock valuations. Specifically, new money inflows to retail funds earn significantly higher abnormal returns than outflows during low sentiment periods.
Contact: Ye Dan Zhang Minjie Qu Chengcheng
Tel: 8709904687099047
E-mail:yedan1220@126.com, zhangminjie234@163.com


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