| dc.contributor | 金融系 | |
| dc.creator (作者) | 詹育儒 | |
| dc.creator (作者) | Chan, Yu-Ju;Bui, Dien Giau;Lin, Chih-Yung;Lin, Tse-Chun | |
| dc.date (日期) | 2024-10 | |
| dc.date.accessioned | 5-Feb-2025 16:13:55 (UTC+8) | - |
| dc.date.available | 5-Feb-2025 16:13:55 (UTC+8) | - |
| dc.date.issued (上傳時間) | 5-Feb-2025 16:13:55 (UTC+8) | - |
| dc.identifier.uri (URI) | https://nccur.lib.nccu.edu.tw/handle/140.119/155581 | - |
| dc.description.abstract (摘要) | We use lottery jackpot winnings in a neighborhood as an exogenous shock to investing in stocks. We find that retail investors whose brokerages are near the stores that sell winning tickets buy more stocks than their counterparts after the shock. These purchases lead to lower returns. We use a survey to identify the behavioral factors like regretfulness and probability weighting that are the main drivers of our findings. Moreover, these investors tend to buy more lottery-like stocks, but the shock does not affect their selling decisions. Finally, we perform several falsification tests and robustness checks and find consistent results. | |
| dc.format.extent | 110 bytes | - |
| dc.format.mimetype | text/html | - |
| dc.relation (關聯) | Journal of Banking and Finance, Vol.167, 107269 | |
| dc.subject (關鍵詞) | Lottery winnings; Regrefulness; Probability weighting; Trading turnover; Retail investors | |
| dc.title (題名) | Lottery jackpot winnings and retail trading in the neighborhood | |
| dc.type (資料類型) | article | |
| dc.identifier.doi (DOI) | 10.1016/j.jbankfin.2024.107269 | |
| dc.doi.uri (DOI) | https://doi.org/10.1016/j.jbankfin.2024.107269 | |
