Studies in Economics and Finance: Volume 38 Issue 3

Guest editorial

Wing-Keung Wong

The index of economic freedom: methodological matters

Issaka Dialga, Thomas Vallée

The purpose of this paper is to deal with methodological issues in the Index of Economic Freedom (IEF) building by using principal components analysis (PCA) and benefit of the…

The stock-bond nexus and investors’ behavior in mature and emerging markets: Evidence from long-term historical data

Refk Selmi, Rangan Gupta, Christos Kollias, Stephanos Papadamou

Portfolio construction and diversification is a prominent challenge for investors. It reflects market agents’ behavior and response to market conditions. This paper aims to…

Behavioral analysis of long-term implied volatilities

Min Xu, Hong Xie, Yuehua Wu

The purpose of this paper is to analyze different behaviors between long-term options’ implied volatilities and realized volatilities.

Overconfidence and forecast accuracy: An experimental investigation on the hard–easy effect

Bin Liu, Monica Tan

This paper aims to investigate how overconfidence bias affects financial market participants’ forecast accuracy based on the hard–easy effect concept of overconfidence research.

Does personality drive price bubbles?

Andreas Oehler, Florian Wedlich, Stefan Wendt, Matthias Horn

The purpose of this study is to analyze whether differences in market-wide levels of investor personality influence experimental asset market outcomes in terms of limit orders…

Investing in lottery-like stocks in India

Udayan Sharma, Madhumita Chakraborty

In the current study, the significance of extreme positive returns has been investigated in the pricing of stocks in the Indian equity market. This study aims to understand if…

Effectiveness of filter trading as an intraday trading rule

Ling Xin, Kin Lam, Philip L.H. Yu

Filter trading is a technical trading rule that has been used extensively to test the efficient market hypothesis in the context of long-term trading. In this paper, the authors…

Do lump-sum investing strategies really outperform dollar-cost averaging strategies?

Richard Lu, Vu Tran Hoang, Wing-Keung Wong

The literature has demonstrated that lump-sum (LS) outperforms dollar-cost averaging (DCA) in uptrend markets while DCA outperforms LS only when the asset price is mean-reverted…