Hersh Shefrin

Santa Clara University - Leavey School of Business

Mario L. Belotti Professor of Finance

Dept. of Finance

Santa Clara, CA 95053

United States

SCHOLARLY PAPERS

36

DOWNLOADS
Rank 509

SSRN RANKINGS

Top 509

in Total Papers Downloads

32,284

CITATIONS
Rank 2,049

SSRN RANKINGS

Top 2,049

in Total Papers Citations

274

Scholarly Papers (36)

1.

Behavioral Corporate Finance

Journal of Applied Corporate Finance, Vol. 14, No. 3, Fall 2001
Number of pages: 17 Posted: 23 Oct 2001
Hersh Shefrin
Santa Clara University - Leavey School of Business
Downloads 10,000 (233)
Citation 37

Abstract:

2.
Downloads 3,252 ( 2,387)
Citation 2

Behavioralizing Finance

Foundations and Trends in Finance, Vol. 4, Nos. 1-2, pp. 1-184, 2010, SCU Leavey School of Business Research Paper No. 10-01
Number of pages: 187 Posted: 02 May 2010
Hersh Shefrin
Santa Clara University - Leavey School of Business
Downloads 3,215 (2,374)
Citation 2

Abstract:

behavioral finance, portfolio allocation, investor psychology, empirical finance, neoclassical finance, financial markets

Behavioralizing Finance

Foundations and Trends in Finance, Vol. 4, No. 1-2, pp. 1-84, 2009
Number of pages: 186 Posted: 15 Jun 2010
Hersh Shefrin
Santa Clara University - Leavey School of Business
Downloads 37 (378,156)
Citation 2
  • Add to Cart

Abstract:

behavioral finance, asset pricing, portfolio selection, corporate finance, financial market regulation

3.

Technical Analysis and Individual Investors

Journal of Economic Behavior and Organization, 107 (November), pp. 487-511
Number of pages: 67 Posted: 27 Feb 2014 Last Revised: 13 Jan 2015
Arvid O. I. Hoffmann and Hersh Shefrin
University of Adelaide - Business School and Santa Clara University - Leavey School of Business
Downloads 2,425 (2,779)

Abstract:

Behavioral Finance, Household Finance, Individual Investors, Investor Behavior, Investor Performance, Technical Analysis, Speculation

4.

How Psychological Pitfalls Generated the Global Financial Crisis

VOICES OF WISDOM: UNDERSTANDING THE GLOBAL FINANCIAL CRISIS, Laurence B. Siegel, ed., Research Foundation of CFA Institute, 2010, SCU Leavey School of Business Research Paper No. 10-04
Number of pages: 44 Posted: 18 Dec 2009
Hersh Shefrin
Santa Clara University - Leavey School of Business
Downloads 1,865 (4,027)
Citation 5

Abstract:

Financial Crisis, Behavioral Finance, Government Regulation

Do Investors Expect Higher Returns from Safer Stocks than from Riskier Stocks?

Number of pages: 15 Posted: 07 Jan 2002
Hersh Shefrin
Santa Clara University - Leavey School of Business
Downloads 1,665 (7,547)
Citation 13

Abstract:

Do Investors Expect Higher Returns from Safer Stocks than from Riskier Stocks?

Journal of Psychology & Financial Markets, Vol. 2, No. 4
Posted: 28 Jun 2002
Hersh Shefrin
Santa Clara University - Leavey School of Business

Abstract:

6.

Behavioral Portfolio Analysis of Individual Investors

Number of pages: 45 Posted: 24 Jun 2010 Last Revised: 05 Oct 2010
University of Adelaide - Business School, Santa Clara University - Leavey School of Business and Maastricht University
Downloads 1,639 (6,054)
Citation 5

Abstract:

Behavioral Portfolio Theory, Investment Decisions, Investor Performance, Behavioral Finance

7.

On Kernels and Sentiment

Number of pages: 71 Posted: 23 Oct 2001
Hersh Shefrin
Santa Clara University - Leavey School of Business
Downloads 1,167 (12,814)
Citation 4

Abstract:

8.

BP's Failure to Debias: Underscoring the Importance of Behavioral Corporate Finance

SCU Leavey School of Business Research Paper No. 11-05
Number of pages: 55 Posted: 27 Feb 2011 Last Revised: 26 Aug 2011
Hersh Shefrin and Enrico Maria Cervellati
Santa Clara University - Leavey School of Business and University of Bologna - Department of Management
Downloads 1,047 (14,519)

Abstract:

behavioral finance, debiasing, decision-making

9.

Estimating Sentiment, Risk Aversion, and Time Preference from Behavioral Pricing Kernel Theory

Swiss Finance Institute Research Paper No. 12-21
Number of pages: 47 Posted: 18 May 2012 Last Revised: 20 Mar 2017
Swiss Finance Institute at the University of Lugano, Ecole Polytechnique Fédérale de Lausanne and Santa Clara University - Leavey School of Business
Downloads 945 (14,180)

Abstract:

Sentiment, Pricing Kernel, Optimism, Overconfidence, Option Data

10.

Trading Volume, Information, and Trading Costs: Empirical Evidence

Number of pages: 30 Posted: 09 Apr 2003
Kee H. Chung, Hoje Jo and Hersh Shefrin
State University of New York at Buffalo - School of Management, Santa Clara University and Santa Clara University - Leavey School of Business
Downloads 866 (20,703)

Abstract:

Trading volume, Information precision, Differential belief, Bid-ask spreads, Structural model

11.

Sentiment, Asset Prices, and Systemic Risk

Swiss Finance Institute Research Paper No. 11-50
Number of pages: 31 Posted: 03 Nov 2011 Last Revised: 21 Mar 2012
Swiss Finance Institute at the University of Lugano, Ecole Polytechnique Fédérale de Lausanne and Santa Clara University - Leavey School of Business
Downloads 513 (34,647)
Citation 2

Abstract:

systemic risk, marginal expected shortfall, pricing kernel, overconfidence, optimism

12.

Online Investors: What They Want, What They Do, and How Their Portfolios Perform

Number of pages: 32 Posted: 05 Dec 2010 Last Revised: 19 Jun 2014
Arvid O. I. Hoffmann and Hersh Shefrin
University of Adelaide - Business School and Santa Clara University - Leavey School of Business
Downloads 430 (54,413)
Citation 2

Abstract:

Individual Investors, Behavioral Biases, Investment Decisions, Investor Performance

13.

Credit Card Behavior, Financial Styles, and Heuristics

Number of pages: 27 Posted: 28 Jan 2011
Hersh Shefrin and Christina M. Nicols
Santa Clara University - Leavey School of Business and affiliation not provided to SSRN
Downloads 327 (58,188)

Abstract:

behavioral finance, credit-card, borrowing behavior, heuristics, consumer confidence

14.

An Economic Theory of Self-Control

NBER Working Paper No. w0208
Number of pages: 48 Posted: 15 Feb 2001 Last Revised: 29 Jul 2010
Hersh Shefrin and Richard H. Thaler
Santa Clara University - Leavey School of Business and University of Chicago - Booth School of Business
Downloads 296 (67,564)
Citation 194

Abstract:

15.

Investors’ Judgments, Asset Pricing Factors, and Sentiment

Number of pages: 34 Posted: 28 Apr 2014 Last Revised: 24 Oct 2014
Hersh Shefrin
Santa Clara University - Leavey School of Business
Downloads 261 (77,911)

Abstract:

risk, sentiment, size, book-to-market, beta, representativeness, affect

16.

Prediction Tools: Financial Market Regulation, Politics & Psychology

Number of pages: 17 Posted: 03 Aug 2010
Shabnam Mousavi and Hersh Shefrin
Johns Hopkins Carey Business School and Santa Clara University - Leavey School of Business
Downloads 246 (93,986)

Abstract:

Regulation, game theory, behavioral finance, politics

17.

A Tale of Two Investors: Estimating Optimism and Overconfidence

26th Australasian Finance and Banking Conference 2013
Number of pages: 50 Posted: 02 Sep 2013
Swiss Finance Institute, Ecole Polytechnique Fédérale de Lausanne and Santa Clara University - Leavey School of Business
Downloads 197 (83,527)
Citation 1

Abstract:

Sentiment, Pricing Kernel, Optimism, Overconfidence

18.
Downloads 178 (140,661)
Citation 3

Striking Regulatory Irons While Hot

SCU Leavey School of Business Research Paper No. 10-07
Number of pages: 30 Posted: 14 Dec 2009
Hersh Shefrin and Meir Statman
Santa Clara University - Leavey School of Business and Santa Clara University - Department of Finance
Downloads 178 (140,591)
Citation 3

Abstract:

financial crisis, financial regulation, behavioral finance

Striking Regulatory Irons While Hot

Journal Of Investment Management (JOIM), Fourth Quarter 2009
Posted: 19 Jan 2010 Last Revised: 02 Jun 2010
Hersh Shefrin and Meir Statman
Santa Clara University - Leavey School of Business and Santa Clara University - Department of Finance

Abstract:

Financial regulations, capture theory, fairness, credit cards, insider trading, fair disclosure, interstate banking, trading halts, global settlement, Sarbanes-Oxley

19.

Assessing the Contribution of Hyman Minsky's Perspective to Our Understanding of Economic Instability

Number of pages: 43 Posted: 16 Aug 2013 Last Revised: 10 May 2014
Hersh Shefrin
Santa Clara University - Leavey School of Business
Downloads 119 (154,510)

Abstract:

Minsky, psychology, leverage, shadow banking, Ponzi finance, financial innovation, asset bubbles, new era thinking, regulatory failure, runs, too big to fail

20.

Bad Corporate Marriages: Waking Up in Bed the Morning After

Number of pages: 51 Posted: 28 Dec 2013 Last Revised: 10 May 2014
Ye Cai and Hersh Shefrin
Santa Clara University - Leavey School of Business and Santa Clara University - Leavey School of Business
Downloads 69 (243,906)

Abstract:

21.

'Estimating Sentiment, Risk Aversion, and Time Preference from Behavioral Pricing Kernel Theory': Online Appendix

Number of pages: 60 Posted: 22 Jul 2013 Last Revised: 20 Mar 2017
Swiss Finance Institute at the University of Lugano, Ecole Polytechnique Fédérale de Lausanne and Santa Clara University - Leavey School of Business
Downloads 69 (191,554)

Abstract:

Sentiment, Pricing Kernel, Optimism, Overconfidence, Option Data

22.

On Duality Theory in Intertemporal Choice with Uncertainty

Economics Letters, Vol. 3, 1979
Number of pages: 5 Posted: 21 Jun 2011
Hersh Shefrin and John M Heineke
Santa Clara University - Leavey School of Business and Santa Clara University - Leavey School of Business
Downloads 36 (356,330)
Citation 1

Abstract:

23.

On an Implication of a Theorem Due to Gorman

Economics Letters, Vol. 21, pp. 321-323, 1986
Number of pages: 3 Posted: 07 Jun 2011
John M Heineke and Hersh Shefrin
Santa Clara University - Leavey School of Business and Santa Clara University - Leavey School of Business
Downloads 16 (440,749)

Abstract:

Gorman class of demand, demand systems, exact aggregation

24.

Aggregation and Identification in Consumer Demand Systems

Journal of Econometrics, Vol. 44, pp. 377-390, 1990
Number of pages: 14 Posted: 06 Jun 2011
John M Heineke and Hersh Shefrin
Santa Clara University - Leavey School of Business and Santa Clara University - Leavey School of Business
Downloads 15 (445,891)

Abstract:

25.

Exact Aggregation and the Finite Basis Property

International Economic Review, Vol. 29, No. 3, p. 525, 1988
Number of pages: 15 Posted: 10 Aug 2011
John M Heineke and Hersh Shefrin
Santa Clara University - Leavey School of Business and Santa Clara University - Leavey School of Business
Downloads 14 (451,206)
Citation 2

Abstract:

26.

On Some Global Properties of Gorman Class Demand Systems

Economics Letters, Vol. 25, pp. 155-160, 1987
Number of pages: 6 Posted: 07 Jun 2011
John M Heineke and Hersh Shefrin
Santa Clara University - Leavey School of Business and Santa Clara University - Leavey School of Business
Downloads 10 (477,123)

Abstract:

Gorman class demand systems

27.

The Finite Basis Property and Exact Aggregation

Economics Letters, Vol. 9, p. 209, 1982
Number of pages: 5 Posted: 21 Jun 2011 Last Revised: 11 Aug 2011
John M Heineke and Hersh Shefrin
Santa Clara University - Leavey School of Business and Santa Clara University - Leavey School of Business
Downloads 8 (461,591)
Citation 2

Abstract:

28.

How the Disposition Effect and Momentum Impact Investment Professionals

Journal of Investment Consulting, Vol. 8, No. 2, pp. 68-79, Summer 2007
Number of pages: 12 Posted: 02 Dec 2007 Last Revised: 16 Nov 2015
Hersh Shefrin
Santa Clara University - Leavey School of Business
Downloads 4 (205,472)

Abstract:

Disposition Effect, Behavioral Finance, Momentum, Investment Consultants, Investment Professionals

29.

Acquisition Risk and Psychology

Number of pages: 46 Posted: 08 Oct 2016 Last Revised: 11 Oct 2016
Ye Cai and Hersh Shefrin
Santa Clara University - Leavey School of Business and Santa Clara University - Leavey School of Business
Downloads 0 (410,612)

Abstract:

Acquisition risk, Aspiration-based risk taking, Confirmation bias, Overconfidence

30.

Behavioral Finance: Quo Vadis?

Journal of Applied Finance (Formerly Financial Practice and Education), Vol. 18, No. 2, 2008
Number of pages: 15 Posted: 09 Dec 2015
DePaul University, Queen Mary University of London, Santa Clara University - Leavey School of Business and City University - Cass Business School
Downloads 0 (32,274)
Citation 1

Abstract:

31.

Investors' Judgments, Asset Pricing Factors and Sentiment

European Financial Management, Vol. 21, Issue 2, pp. 205-227, 2015
Number of pages: 23 Posted: 13 Mar 2015
Hersh Shefrin
Santa Clara University - Leavey School of Business
Downloads 0 (560,718)
  • Add to Cart

Abstract:

risk, sentiment, size, book‐to‐market, beta, representativeness, affect

32.

Free Cash Flows, Valuation and Growth Opportunities Bias

Journal of Investment Management (JOIM), Fourth Quarter, 2014
Posted: 15 Nov 2014
Hersh Shefrin
Santa Clara University - Leavey School of Business

Abstract:

Terminal value, growth opportunities bias, growth rate, debiasing, confirmation bias, groupthink, cognitive dissonance

33.

Insights into the Psychological Profiles of Entrepreneurs

Posted: 13 Jul 2010 Last Revised: 14 Jul 2010
Hersh Shefrin
Santa Clara University - Leavey School of Business

Abstract:

entrepreneurship, entrepreneurs, optimism, desirability of control

34.

Behavioural Finance: Quo Vadis?

Journal of Applied Finance, Vol.19, pp.7-21, 2008
Posted: 26 Nov 2008 Last Revised: 01 Nov 2009
DePaul University - Driehaus Center for Behavioral Finance, Santa Clara University - Leavey School of Business, Queen Mary University of London and City University - Cass Business School

Abstract:

Behavioral finance, Neoclassical finance, Asset valuation, Behavioral SDF-based pricing

35.

Behavioral Portfolio Theory

Posted: 10 Aug 1999
Hersh Shefrin and Meir Statman
Santa Clara University - Leavey School of Business and Santa Clara University - Department of Finance

Abstract:

36.

Making Sense of Beta, Size and Book-to-Market

Posted: 20 Dec 1998
Hersh Shefrin and Meir Statman
Santa Clara University - Leavey School of Business and Santa Clara University - Department of Finance

Abstract: