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All Outputs (48)

Risk is in the eye of the investor: Cryptocurrency investors’ engagement with risk, regulatory advice, and regulatory institutions (2024)
Journal Article
Sobolev, D., & Kallinterakis, V. (2024). Risk is in the eye of the investor: Cryptocurrency investors’ engagement with risk, regulatory advice, and regulatory institutions. Journal of Behavioral and Experimental Finance, 44, Article 100994. https://doi.org/10.1016/j.jbef.2024.100994

Despite regulators’ warnings that investing in cryptoassets is highly risky, cryptocurrency investments are prevalent. To explore investors’ engagement with regulatory risk advice, we conducted two surveys. Cryptocurrency investors residing in the UK... Read More about Risk is in the eye of the investor: Cryptocurrency investors’ engagement with risk, regulatory advice, and regulatory institutions.

Political uncertainty and institutional herding (2024)
Journal Article
Gavriilidis, K., Kallinterakis, V., & Montone, M. (2024). Political uncertainty and institutional herding. Journal of Corporate Finance, 88, Article 102627. https://doi.org/10.1016/j.jcorpfin.2024.102627

Political uncertainty represents a key determinant of corporate investment decisions. In this paper, we study the relation between political uncertainty and investment from the perspective of institutional investors. Using U.S. equity holdings data f... Read More about Political uncertainty and institutional herding.

The Wisdom of the Madness of Crowds: Investor Herding, Anti-herding, and Stock- Bond Return Correlation (2024)
Journal Article
Radi, S., Gebka, B., & Kallinterakis, V. (2024). The Wisdom of the Madness of Crowds: Investor Herding, Anti-herding, and Stock- Bond Return Correlation. Journal of Economic Behavior and Organization, 224, 966-995. https://doi.org/10.1016/j.jebo.2024.07.005

We examine investors’ herding/anti-herding behavior in the US stock and corporate bond markets and their impact on stock-bond return correlation. Corporate bonds exhibit herding, with stocks displaying anti-herding. Bond herding and stock anti-herdin... Read More about The Wisdom of the Madness of Crowds: Investor Herding, Anti-herding, and Stock- Bond Return Correlation.

Dawn of Behavioural Finance, 1688 (2024)
Book
Kallinterakis, V. (in press). Dawn of Behavioural Finance, 1688. Cambridge Scholars Publishing

The role of psychology in investment decisions has been amply debated during the past few decades, following the evolution of behavioural finance. This book shows that, although behavioural finance concepts were coined/systemised since the 1980s, the... Read More about Dawn of Behavioural Finance, 1688.

Numerological Superstitions and Market-Wide Herding: Evidence from China   (2024)
Journal Article
Cui, Y., Gavriilidis, K., Gebka, B., & Kallinterakis, V. (2024). Numerological Superstitions and Market-Wide Herding: Evidence from China  . International Review of Financial Analysis, 93, Article 103199

We empirically investigate the effect of traditional Chinese numerological superstitions over market-wide herding in the Shanghai and Shenzhen stock exchanges for the 2000–2020 period, based on a classification of stocks as lucky/unlucky contingent o... Read More about Numerological Superstitions and Market-Wide Herding: Evidence from China  .

Long-term dynamic asset allocation under asymmetric risk preferences (2023)
Journal Article
Kontosakos, V. E., Hwang, S., Kallinterakis, V., & Pantelous, A. A. (2023). Long-term dynamic asset allocation under asymmetric risk preferences. European Journal of Operational Research, 312(2), 765-782. https://doi.org/10.1016/j.ejor.2023.07.038

We examine the impact of return predictability and parameter uncertainty on long-term portfolio allocations when investors’ utility function quantifies their asymmetric behaviour against expected gains and losses on risky assets. Allowing for differe... Read More about Long-term dynamic asset allocation under asymmetric risk preferences.

Media News and Social Media Information in the Chinese Peer-to-Peer Lending Market (2023)
Journal Article
Kuang, J., Ji, X., Cheng, P., & Kallinterakis, V. B. (2023). Media News and Social Media Information in the Chinese Peer-to-Peer Lending Market. Systems, 11(3), Article 133. https://doi.org/10.3390/systems11030133

This paper uses supervised machine learning (sentiment analysis) to analyze the sentiments of social media information in the P2P lending market. After segmentation, filtering, feature word extraction, and model training of the text information captu... Read More about Media News and Social Media Information in the Chinese Peer-to-Peer Lending Market.

Cross-Market Herding: Do ‘Herds’ Herd with Each Other? (2022)
Journal Article
Ferreruela, S., Kallinterakis, V., & Mallor, T. (2024). Cross-Market Herding: Do ‘Herds’ Herd with Each Other?. Journal of Behavioral Finance, 25(2), 208-228. https://doi.org/10.1080/15427560.2022.2100383

Although herding constitutes one of the most widely researched behavioral trading patterns internationally, the possibility of cross-market herding has remained largely underexplored in the literature. Our study provides a detailed empirical investig... Read More about Cross-Market Herding: Do ‘Herds’ Herd with Each Other?.

Feedback trading: a review of theory and empirical evidence (2022)
Journal Article
Economou, F., Gavriilidis, K., Gebka, B., & Kallinterakis, V. (2023). Feedback trading: a review of theory and empirical evidence. Review of Behavioural Finance, 15(4), 429-476. https://doi.org/10.1108/rbf-12-2021-0268

Purpose
The purpose of this paper is to comprehensively review a large and heterogeneous body of academic literature on investors' feedback trading, one of the most popular trading patterns observed historically in financial markets. Specifically, t... Read More about Feedback trading: a review of theory and empirical evidence.

Herding in Imperial Russia: Evidence from the St. Petersburg Stock Exchange (1865–1914) (2021)
Journal Article
Gavriilidis, K., & Kallinterakis, V. (2023). Herding in Imperial Russia: Evidence from the St. Petersburg Stock Exchange (1865–1914). Journal of Behavioral Finance, 24(4), 383-397. https://doi.org/10.1080/15427560.2021.1986715

We present seminal empirical evidence on market-wide herding from historical markets for the St. Petersburg stock exchange between 1865 and 1914. Our findings indicate the presence of herding in Imperial Russia’s largest equity market, which tends to... Read More about Herding in Imperial Russia: Evidence from the St. Petersburg Stock Exchange (1865–1914).

Do investors feedback trade in the Bitcoin—and why? (2021)
Journal Article
Karaa, R., Slim, S., Goodell, J., Goyal, A., & Kallinterakis, V. (online). Do investors feedback trade in the Bitcoin—and why?. European Journal of Finance, 30(16), 1951-1971. https://doi.org/10.1080/1351847x.2021.1973054

We empirically examine whether feedback traders are active in the Bitcoin and the extent to which their presence is affected by a series of noise-related factors (sentiment; volume; liquidity) at three different frequencies (hourly; daily; weekly) fo... Read More about Do investors feedback trade in the Bitcoin—and why?.