P. Joakim Westerholm

University of Sydney Business School

Cnr. of Codrington and Rose Streets

Sydney, NSW 2006

Australia

SCHOLARLY PAPERS

48

DOWNLOADS
Rank 2,296

SSRN RANKINGS

Top 2,296

in Total Papers Downloads

26,755

SSRN CITATIONS
Rank 18,892

SSRN RANKINGS

Top 18,892

in Total Papers Citations

58

CROSSREF CITATIONS

16

Ideas:
“  I am currently working on securities market microstructure and behavioral finance topics, I am also putting together a strong team of climate finance researchers.  ”

Scholarly Papers (48)

1.
Downloads 16,029 ( 455)
Citation 6

Nonstandard Errors

Journal of Finance, Volume 79, Issue 3, June 2024, Pages 2339-2390.
Number of pages: 52 Posted: 23 Nov 2021 Last Revised: 15 May 2024
Albert J. Menkveld, Anna Dreber, Felix Holzmeister, Juergen Huber, Magnus Johannesson, Michael Kirchler, Michael Razen, Utz Weitzel, David Abad, Menachem (Meni) Abudy, Tobias Adrian, Yacine Ait-Sahalia, Olivier Akmansoy, Jamie Alcock, Vitali Alexeev, Arash Aloosh, Livia Amato, Diego Amaya, James Angel, Amadeus Bach, Edwin Baidoo, Gaetan Bakalli, Andrea Barbon, Oksana Bashchenko, Parampreet Christopher Bindra, Geir Hoidal Bjonnes, Jeff Black, Bernard S. Black, Santiago Bohorquez, Oleg Bondarenko, Charles S. Bos, Ciril Bosch-Rosa, Elie Bouri, Christian T. Brownlees, Anna Calamia, Viet Nga Cao, Gunther Capelle-Blancard, Laura Capera, Massimiliano Caporin, Allen Carrion, Tolga Caskurlu, Bidisha Chakrabarty, Mikhail Chernov, William M. Cheung, Ludwig B. Chincarini, Tarun Chordia, Sheung Chi Chow, Benjamin Clapham, Jean-Edouard Colliard, Carole Comerton-Forde, Edward Curran, Thong Dao, Wale Dare, Ryan J. Davies, Riccardo De Blasis, Gianluca De Nard, Fany Declerck, Oleg Deev, Hans Degryse, Solomon Deku, Christophe Desagre, Mathijs A. van Dijk, Chukwuma Dim, Thomas Dimpfl, Yunjiang Dong, Philip Drummond, Tom L. Dudda, Ariadna Dumitrescu, Teodor Dyakov, Anne Haubo Dyhrberg, Michał Dzieliński, Asli Eksi, Izidin El Kalak, Saskia ter Ellen, Nicolas Eugster, Martin D.D. Evans, Michael Farrell, Ester Félez-Viñas, Gerardo Ferrara, El Mehdi FERROUHI, Andrea Flori, Jonathan Fluharty-Jaidee, Sean Foley, Kingsley Fong, Thierry Foucault, Tatiana Franus, Francesco A. Franzoni, Bart Frijns, Michael Frömmel, Servanna Mianjun Fu, Sascha Füllbrunn, Baoqing Gan, Thomas Gehrig, Dirk Gerritsen, Javier Gil-Bazo, Lawrence R. Glosten, Thomas Gomez, Arseny Gorbenko, Ufuk Güçbilmez, Joachim Grammig, Vincent Gregoire, Björn Hagströmer, Julien Hambuckers, Erik Hapnes, Jeffrey H. Harris, Lawrence Harris, Simon Hartmann, Jean-Baptiste Hasse, Nikolaus Hautsch, Xuezhong He, Davidson Heath, Simon Hediger, Terrence Hendershott, Ann Marie Hibbert, Erik Hjalmarsson, Seth A. Hoelscher, Peter Hoffmann, Craig W. Holden, Alex R. Horenstein, Wenqian Huang, Da Huang, Christophe Hurlin, Alexey Ivashchenko, Subramanian R. Iyer, Hossein Jahanshahloo, Naji Jalkh, Charles M. Jones, Simon Jurkatis, Petri Jylha, Andreas Kaeck, Gabriel Kaiser, Arzé Karam, Egle Karmaziene, Bernhard Kassner, Markku Kaustia, Ekaterina Kazak, Fearghal Kearney, Vincent van Kervel, Saad Khan, Marta Khomyn, Tony Klein, Olga Klein, Alexander Klos, Michael Koetter, Jan Pieter Krahnen, Aleksey Kolokolov, Robert A. Korajczyk, Roman Kozhan, Amy Kwan, Quentin Lajaunie, FY Eric C Lam, Marie Lambert, Hugues Langlois, Jens Lausen, Tobias Lauter, Markus Leippold, Vladimir Levin, Yijie Li, (Michael) Hui Li, Chee Yoong Liew, Thomas Lindner, Oliver B. Linton, Jiacheng Liu, Anqi Liu, Guillermo Llorente, Matthijs Lof, Ariel Lohr, Francis A. Longstaff, Alejandro Lopez-Lira, Shawn Mankad, Nicola Mano, Alexis Marchal, Charles Martineau, Francesco Mazzola, Debrah Meloso, Roxana Mihet, Vijay Mohan, Sophie Moinas, David Moore, Liangyi Mu, Dmitriy Muravyev, Dermot Murphy, Gabor Neszveda, Christian Neumeier, Ulf Nielsson, Mahendrarajah Nimalendran, Sven Nolte, Lars L. Norden, Peter O'Neill, Khaled Obaid, Bernt Arne Ødegaard, Per Östberg, Marcus Painter, Stefan Palan, Imon Palit, Andreas Park, Roberto Pascual, Paolo Pasquariello, Lubos Pastor, Vinay Patel, Andrew J. Patton, Neil D. Pearson, Loriana Pelizzon, Matthias Pelster, Christophe Pérignon, Cameron Pfiffer, Richard Philip, Tomáš Plíhal, Puneet Prakash, Oliver-Alexander Press, Tina Prodromou, Tālis J. Putniņš, Gaurav Raizada, David A. Rakowski, Angelo Ranaldo, Luca Regis, Stefan Reitz, Thomas Renault, Rex Wang Renjie, Roberto Renò, Steven Riddiough, Kalle Rinne, Paul Rintamäki, Ryan Riordan, Thomas Rittmannsberger, Iñaki Rodríguez-Longarela, Dominik Rösch, Lavinia Rognone, Brian Roseman, Ioanid Rosu, Saurabh Roy, Nicolas Rudolf, Stephen Rush, Khaladdin Rzayev, Aleksandra Rzeźnik, Anthony Sanford, Harikumar Sankaran, Asani Sarkar, Lucio Sarno, O. Scaillet, Stefan Scharnowski, Klaus Reiner Schenk-Hoppé, Andrea Schertler, Michael Schneider, Florian Schroeder, Norman Schuerhoff, Philipp Schuster, Marco A. Schwarz, Mark S. Seasholes, Norman Seeger, Or Shachar, Andriy Shkilko, Jessica Shui, Mario Sikic, Giorgia Simion, Lee A. Smales, Paul Söderlind, Elvira Sojli, Konstantin Sokolov, Laima Spokeviciute, Denitsa Stefanova, Marti G. Subrahmanyam, Sebastian Neusüss, Barnabas Szaszi, Oleksandr Talavera, Yuehua Tang, Nicholas Taylor, Wing Wah Tham, Erik Theissen, Julian Thimme, Ian Tonks, Hai Tran, Luca Trapin, Anders B. Trolle, Giorgio Valente, Robert A. Van Ness, Aurelio Vasquez, Thanos Verousis, Patrick Verwijmeren, Anders Vilhelmsson, Grigory Vilkov, Vladimir Vladimirov, Sebastian Vogel, Stefan Voigt, Wolf Wagner, Thomas Walther, Patrick Weiss, Michel van der Wel, Ingrid M. Werner, P. Joakim Westerholm, Christian Westheide, Evert Wipplinger, Michael Wolf, Christian C. P. Wolff, Leonard Wolk, Wing-Keung Wong, Jan Wrampelmeyer, Shuo Xia, Dacheng Xiu, Ke Xu, Caihong Xu, Pradeep K. Yadav, José Yagüe, Cheng Yan, Antti Yang, Woongsun Yoo, Wenjia Yu, Shihao Yu, Bart Zhou Yueshen, Darya Yuferova, Marcin Zamojski, Abalfazl Zareei, Stefan Zeisberger, S. Sarah Zhang, Xiaoyu Zhang, Zhuo Zhong, Z. Ivy Zhou, Chen Zhou, Xingyu Sonya Zhu, Marius Zoican, Remco C. J. Zwinkels, Jian Chen, Teodor Duevski, Ge Gao, Roland Gemayel, Dudley Gilder, Paul Kuhle, Emiliano Pagnotta, Michele Pelli, Jantje Sönksen, Lu Zhang, Konrad Ilczuk, Dimitar Bogoev, Ya Qian, Hans C. Wika, Yihe Yu, Lu Zhao, Michael Mi, Li Bao, Andreea Vaduva, Marcel Prokopczuk, Alejandro Avetikian and Zhen-Xing Wu
Vrije Universiteit Amsterdam, Stockholm School of Economics - Department of Economics, University of Innsbruck - Department of Economics, University of Innsbruck, Stockholm School of Economics - Department of Economics, University of Innsbruck, University of Innsbruck, VU University Amsterdam, Universidad de Alicante, Bar-Ilan University - Graduate School of Business Administration, International Monetary Fund, National Bureau of Economic Research (NBER), CNRS, University of Oxford, University of Technology Sydney, Dublin City University, University of Chicago - Booth School of Business, Wilfrid Laurier University, Georgetown University - McDonough School of Business, University of Mannheim, Tennessee Technological University, EM Lyon (Ecole de Management de Lyon) - Emlyon Business School, University of St. Gallen, Swiss Finance Institute - HEC Lausanne, University of Innsbruck, BI Norwegian Business School, University of Memphis, Northwestern University - Pritzker School of Law, Universidad EAFIT, University of Illinois at Chicago - Department of Finance, VU University Amsterdam, Technische Universität Berlin, Lebanese American University, Universitat Pompeu Fabra - Faculty of Economic and Business Sciences, Toulouse Business School - TBS Education, Monash University, Université Paris I Panthéon-Sorbonne - Centre d'Economie de la Sorbonne (CES), Vrije Universiteit Amsterdam, University of Padua - Department of Statistical Sciences, University of Memphis - Fogelman College of Business and Economics, University of Amsterdam Business School, Saint Louis University - Richard A. Chaifetz School of Business, UCLA Anderson, Waseda University, University of San Francisco, Emory University - Department of Finance, Australian National University (ANU), Goethe University Frankfurt Faculty of Economics and Business Administration, HEC Paris - Finance Department, University of Melbourne - Department of Finance, Macquarie University - Faculty of Business and Economics, Nottingham Trent University, University of Liège - HEC Liège, Babson College - Finance Division, Polytechnic University of Marche - Department of Management, University of Zurich - Department of Economics, Toulouse School of Economics, Masaryk University, KU Leuven - Faculty of Business and Economics (FEB), Nottingham Trent University - Nottingham Business School, Catholic University of Louvain (UCL) - Louvain Finance (LFIN), Erasmus University Rotterdam (EUR), George Washington University, University of Hohenheim, Queen's University (Canada), Queen's School of Business, The Brattle Group, Faculty of Business and Economics, Dresden University of Technology, ESADE Business School, EDHEC Business School, The University of Sydney - Discipline of Finance, Stockholm Business School, Stockholm University, Salisbury University - Perdue School of Business, Cardiff Business School, VU University Amsterdam, University of Queensland - Business School, Georgetown University - Department of Economics, University of Wisconsin - Milwaukee - Department of Finance, University of Technology Sydney, Bank of England, Ibn Tofail University, Politecnico di Milano, Public Company Accounting Oversight Board, Macquarie University, UNSW Business School, HEC Paris - Finance Department, City University London - Bayes Business School, Universita della Svizzera italiana (USI Lugano), Open University of the Netherlands - School of Management, Ghent University - Department of Financial Economics, University of Essex - Essex Business School, Radboud University Nijmegen - Institute for Management Research, Ardea Investment Management, University of Vienna, Utrecht University - School of Economics, Universitat Pompeu Fabra, Columbia University, Utrecht University, Monash University - Department of Banking and Finance, University of Glasgow - Adam Smith Business School, University of Tübingen, HEC Montreal - Department of Finance, Stockholm University - Stockholm Business School, University of Liège - HEC Liège, Aalto University, American University - Department of Finance and Real Estate, University of Southern California - Marshall School of Business - Finance and Business Economics Department, Vienna University of Economics and Business, Aix-Marseille University - Aix-Marseille School of Economics, University of Vienna - Department of Statistics and Operations Research, Xi'an Jiaotong-Liverpool University (XJTLU), University of Utah - David Eccles School of Business, University of Zurich - Department of Economics, University of California, Berkeley - Haas School of Business, West Virginia University - John Chambers College of Business and Economics, Department of Finance, University of Gothenburg - Centre for Finance, Missouri State University - College of Business, European Central Bank (ECB), Indiana University - Kelley School of Business - Department of Finance, University of Miami - School of Business Administration - Department of Economics, Bank for International Settlements, Northeastern University - D'Amore-McKim School of Business, University of Orleans, VU University Amsterdam, University of New Mexico, Cardiff University, Saint Joseph University, Columbia University, Bank of England, Aalto University, University of Sussex, Universite du Luxembourg, Durham University, VU University Amsterdam, Ludwig Maximilian University of Munich (LMU), Aalto University, University of Manchester, Queen's University Belfast - Queen's Management School, Pontificia Universidad Católica de Chile, HEC Montreal, University of Adelaide, Chemnitz University of Technology (CUT) - Department of Economics, University of Warwick - Warwick Business School, University of Kiel - Institute for Quantitative Business and Economics Research (QBER), Halle Institute for Economic Research, Goethe University Frankfurt, University of Manchester - Manchester Business School, Northwestern University - Kellogg School of Management, University of Warwick - Warwick Business School, University of New South Wales (UNSW), Square Research Center, Independent Researcher, University of Liège - HEC Liège, HEC Paris - Finance Department, Goethe University Frankfurt - Faculty of Economics and Business Administration, Leibniz University Hannover, University of Zurich, Universite du Luxembourg, S&P Global Ratings, La Trobe University, UCSI University, Malaysia, Vienna University of Economics and Business, University of Cambridge, Purdue University, The University of Sydney, Universidad Autonoma de Madrid, Aalto University, Arizona State University (ASU) - Finance Department, University of California, Los Angeles (UCLA) - Finance Area, University of Florida - Department of Finance, Insurance and Real Estate, North Carolina State University - Department of Business Management, Swiss Finance Institute - USI Lugano, EPFL, University of Toronto - Rotman School of Management and UTSC Management, ESCP Europe - ESCP Europe - Turin Campus, Toulouse Business School - TBS Education, Swiss Finance Institute - HEC Lausanne, Independent, Universite de Toulouse 1 Capitole, Loyola Marymount University, Queen's University Belfast, University of Illinois at Urbana-Champaign - Department of Finance, University of Illinois at Chicago, John von Neumann University - MNB Institute, Macquarie University, Copenhagen Business School, University of Florida - Department of Finance, Insurance and Real Estate, Radboud University, Stockholm University - Stockholm Business School, UNSW Australia Business School, School of Banking and Finance, Mississippi State University, University of Stavanger, University of Zurich - Department of Banking and Finance, Saint Louis University - Department of Finance, University of Graz, Royal Melbourne Institute of Technolog (RMIT University) - Blockchain Innovation Hub, University of Toronto, Universidad de las Islas Baleares, University of Michigan, Stephen M. Ross School of Business, University of Chicago - Booth School of Business, University of Technology Sydney (UTS), Duke University - Department of Economics, University of Illinois at Urbana-Champaign - Department of Finance, Goethe University Frankfurt - Faculty of Economics and Business Administration, University of Duisburg-Essen - Mercator School of Management, HEC Paris - Finance Department, University of Oregon - Department of Finance, University of Sydney Business School, Masaryk University - Department of finance, Missouri State University, Copenhagen Business School, The University of Wollongong, University of Technology Sydney (UTS), Indian Institute of Management, Ahmedabad, University of Texas at Arlington - Department of Finance and Real Estate, University of Basel - Faculty of Business and Economics, University of Turin, University of Kiel, Université Paris I Panthéon-Sorbonne - Centre d'Economie de la Sorbonne (CES), VU University Amsterdam, ESSEC Business School, University of Toronto, Universite du Luxembourg - Department of Finance, Aalto University, Queen's University - Smith School of Business, University of Innsbruck, Stockholm University - Stockholm Business School, State University of New York at Buffalo - School of Management, University of Edinburgh Business School, Oklahoma State University, HEC Paris - Finance Department, University of Quebec at Montreal (UQAM) - Faculty of Management (ESG), University of Lausanne, Bowling Green State University - Department of Finance, University of Edinburgh, York University - Schulich School of Business, HEC Montreal - Department of Finance, New Mexico State University, Federal Reserve Bank of New York, University of Cambridge - Judge Business School, Swiss Finance Institute - University of Geneva, University of Mannheim, The University of Manchester - Department of Economics, University of Graz, Deutsche Bundesbank, Macquarie University, Swiss Finance Institute - HEC Lausanne, University of Stuttgart, Heinrich Heine University Dusseldorf - Duesseldorf Institute for Competition Economics (DICE), Arizona State University (ASU), VU Amsterdam - School of Business and Economics, Federal Reserve Bank of New York, Wilfrid Laurier University - Lazaridis School of Business and Economics, Federal Housing Finance Agency, University of Zurich, Vienna University of Economics and Business, University of Western Australia, University of St. Gallen, University of New South Wales (UNSW), University of Memphis - Fogelman College of Business and Economics, Cardiff University, Universite du Luxembourg, New York University (NYU) - Leonard N. Stern School of Business, Aalto University, Eötvös Loránd University, University of Birmingham, University of Florida - Department of Finance, University of Bristol Business School, University of New South Wales (UNSW), University of Mannheim - Finance Area, Karlsruhe Institute of Technology, University of Bristol - Department of Finance and Accounting, Loyola Marymount University - Department of Finance, University of Bologna, Copenhagen Business School, Hong Kong Institute for Monetary and Financial Research (HKIMR), University of Mississippi - Department of Finance, Instituto Tecnológico Autónomo de México (ITAM) - Department of Business Administration, Vlerick Business School, Erasmus University Rotterdam (EUR), Lund University - Department of Economics, Frankfurt School of Finance & Management, University of Amsterdam Business School, Erasmus University Rotterdam (EUR), University of Copenhagen, Erasmus University Rotterdam (EUR), Utrecht University - School of Economics, Reykjavik University, Erasmus University Rotterdam, The Ohio State University - Fisher College of Business, University of Sydney Business School, University of Vienna - Department of Finance, Vrije Universiteit Amsterdam, School of Business and Economics, University of Zurich - Department of Economics, University of Luxembourg, VU University Amsterdam, Asia University, Department of Finance, Vrije Universiteit Amsterdam, School of Business and Economics, Halle Institute for Economic Research, University of Chicago - Booth School of Business, University of Victoria, Stockholm University - Stockholm Business School, University of Oklahoma Price College of Business, University of Murcia, University of Essex, Erasmus University Rotterdam, Central Michigan University, Aalto University, Singapore Management University - Lee Kong Chian School of Business, Singapore Management University - Lee Kong Chian School of Business, NHH Norwegian School of Economics - Department of Finance, University of Gothenburg, Centre for Finance, Stockholm University, Radboud University, Institute for Management Research, University of Manchester - Alliance Manchester Business School, Vrije Universiteit Amsterdam (VU Amsterdam), University of Melbourne - Department of Finance, University of Wollongong - School of Accounting, Economics & Finance, Erasmus University Rotterdam (EUR), Bank for International Settlements (BIS) - Monetary and Economic Department, University of Calgary - Haskayne School of Business, Vrije Universiteit Amsterdam, School of Business and Economics, Queen's University, HEC Paris, University of Birmingham, King’s College London, Cardiff Business School, Universidad Autonoma de Madrid, Singapore Management University, University of Zurich - Department of Finance, University of Tübingen, University of Luxembourg, affiliation not provided to SSRN, EDF Energy, United Kingdom, Aalto University, Norges Bank, State University of New York (SUNY) - Buffalo, Southwestern University of Finance and Economics (SWUFE), The University of Sydney, University of Toulouse Capitole, UC3M, University of Reading - ICMA Centre, Pontificia Universidad Católica de Chile and Zhongnan University of Economics and Law - School of Finance
Downloads 16,029 (484)
Citation 12

Abstract:

Loading...

nonstandard errors, multi-analyst study, liquidity

2.

The Impact of Retail Investors on Stock Liquidity and Crash Risk

Number of pages: 40 Posted: 14 Dec 2021 Last Revised: 04 Aug 2022
Felix Hüfner, Jan-Oliver Strych and P. Joakim Westerholm
Karlsruhe Institute of Technology, Karlsruhe Institute of Technology - Institute for Finance and University of Sydney Business School
Downloads 735 (68,150)

Abstract:

Loading...

liquidity provision, stock price crash risk, COVID-19, retail investors, Robinhood

3.

The Gender Face-Off: Do Females Come Out on Top in Terms of Trading Performance?

29th Australasian Finance and Banking Conference 2016
Number of pages: 63 Posted: 20 Aug 2016 Last Revised: 04 Sep 2016
Wei Lu, Peter L. Swan and P. Joakim Westerholm
The University of New South Wales, University of New South Wales (UNSW Sydney and University of Sydney Business School
Downloads 700 (72,576)
Citation 1

Abstract:

Loading...

Gender differences, Individual investors, Calendar-time, Horizon-invariant, Trading performance

4.

Investor Behavior at the 52 Week High

Journal of Financial and Quantitative Analysis
Number of pages: 73 Posted: 18 Aug 2017 Last Revised: 15 Jul 2023
Joshua Della Vedova, Andrew R. Grant and P. Joakim Westerholm
The University of San Diego - Knauss School of Business, University of Sydney Business School - Discipline of Finance and University of Sydney Business School
Downloads 580 (92,238)
Citation 11

Abstract:

Loading...

52 week high, limit order, household behavior

5.

Can ChatGPT Replicate Analyst Recommendations?

Number of pages: 45 Posted: 07 May 2024
Jason Ming, Hamish Malloch and P. Joakim Westerholm
The University of Sydney, The University of Sydney and University of Sydney Business School
Downloads 539 (100,951)

Abstract:

Loading...

AI, ChatGPT, Earnings Call, Information and Market Efficiency, Textual Analysis JEL Classification: G11, G12, G14, C45

6.

Informed Trading Through the Accounts of Children

Journal of Finance, Forthcoming
Number of pages: 81 Posted: 07 Jun 2012 Last Revised: 20 Feb 2013
Henk Berkman, Paul D. Koch and P. Joakim Westerholm
University of Auckland Business School, Iowa State University - Finance Department and University of Sydney Business School
Downloads 536 (101,655)
Citation 11

Abstract:

Loading...

Individual investors, informed trading, insider trading, information asymmetry, market efficiency, PIN

7.

Inside the Director Network: When Directors Trade Inside, Interlock, and Unconnected Stocks

Number of pages: 76 Posted: 14 Apr 2014 Last Revised: 23 Nov 2017
Henk Berkman, Paul D. Koch and P. Joakim Westerholm
University of Auckland Business School, Iowa State University - Finance Department and University of Sydney Business School
Downloads 502 (110,155)
Citation 6

Abstract:

Loading...

Informed trading, insider trading, information asymmetry, market efficiency, interlocking board, corporate director network, family network, social network analysis

8.

Liquidity and Price Discovery of Algorithmic Trading: An Intraday Analysis of the SPI 200 Futures

24th Australasian Finance and Banking Conference 2011 Paper
Number of pages: 40 Posted: 22 Aug 2011 Last Revised: 16 Nov 2014
Tina Prodromou, Hui Zheng and P. Joakim Westerholm
The University of Wollongong, Discipline of Finance, The University of Sydney and University of Sydney Business School
Downloads 489 (113,540)

Abstract:

Loading...

Algorithmic Trading, Futures Markets, Market Liquidity, Price Discovery

9.

Are Algorithmic Trades Informed? - An Empirical Analysis of Algorithmic Trading Around Earnings Announcements

27th Australasian Finance and Banking Conference 2014 Paper
Number of pages: 46 Posted: 22 Aug 2012 Last Revised: 15 Sep 2015
The University of Sydney - Discipline of Finance, The University of Wollongong, George Mason University - Department of Finance, University of Sydney Business School and Discipline of Finance, The University of Sydney
Downloads 475 (117,611)
Citation 2

Abstract:

Loading...

algorithmic trades [AT], execution algorithms, earnings announcements

10.

'Other People’s Money': The Trading Performance of Household Investors vs. Delegated Money Managers

28th Australasian Finance and Banking Conference, Second Annual Volatility Institute at NYU Shanghai (VINS) 2016
Number of pages: 58 Posted: 02 Mar 2015 Last Revised: 27 Feb 2017
Wei Lu, Peter L. Swan and P. Joakim Westerholm
The University of New South Wales, University of New South Wales (UNSW Sydney and University of Sydney Business School
Downloads 441 (128,342)
Citation 1

Abstract:

Loading...

Households, Institutional investors, Calendar-time, Horizon-invariant, Trading performance

Investor Disagreement, Liquidity, and Informational Efficiency at the 52 Week High

Number of pages: 56 Posted: 06 Nov 2021 Last Revised: 06 May 2024
The University of San Diego - Knauss School of Business, Macquarie University, Macquarie Business School, University of Sydney Business School - Discipline of Finance, University of Sydney Business School and University of San Diego
Downloads 332 (175,126)

Abstract:

Loading...

52 Week High, Liquidity Clustering, Informational Efficiency

Investor Disagreement, Liquidity, and Informational Efficiency at the 52 Week High

Number of pages: 57 Posted: 08 May 2024
The University of San Diego - Knauss School of Business, Macquarie University, Macquarie Business School, University of Sydney Business School - Discipline of Finance, University of Sydney Business School and University of San Diego
Downloads 44 (798,495)

Abstract:

Loading...

52 Week High, Liquidity Clustering, Informational Efficiency

12.

Personal Trading by Brokers, Analysts, and Fund Managers

Number of pages: 65 Posted: 08 Nov 2018
Henk Berkman, Paul Koch and P. Joakim Westerholm
University of Auckland Business School, Iowa State University and University of Sydney Business School
Downloads 324 (181,691)

Abstract:

Loading...

informed trading, information asymmetry, leakage, front running, tipping, insider trades, block trades, social networks, broker, analyst, fund manager, institutional investor

Do Household Investors Intensify Momentum Returns?

29th Australasian Finance and Banking Conference 2016
Number of pages: 42 Posted: 22 Aug 2016 Last Revised: 15 Jul 2023
Joshua Della Vedova, Andrew R. Grant and P. Joakim Westerholm
The University of San Diego - Knauss School of Business, University of Sydney Business School - Discipline of Finance and University of Sydney Business School
Downloads 267 (220,122)

Abstract:

Loading...

Individual investors, Institutional investors, Momentum, 52 week high

Do Household Investors Intensify Momentum Returns?

Number of pages: 40 Posted: 09 Sep 2023
Joshua Della Vedova, P. Joakim Westerholm and Andrew R. Grant
The University of San Diego - Knauss School of Business, University of Sydney Business School and University of Sydney Business School - Discipline of Finance
Downloads 48 (769,864)

Abstract:

Loading...

Individual investors, Institutional investors, Momentum, 52 week high

14.

Retail Trading Activity and Major Lifecycle Events: The Case of Divorce

FIRN Research Paper Forthcoming, Journal of Banking and Finance, Forthcoming
Number of pages: 70 Posted: 04 Jun 2014 Last Revised: 21 Dec 2021
University of Sydney Business School - Discipline of Finance, RoZetta Institute, University of California, Los Angeles (UCLA) - Finance Area and University of Sydney Business School
Downloads 306 (192,333)

Abstract:

Loading...

Individual Investors, Divorce Performance, Trading Behavior

15.

Market Architecture and Global Exchange Efficiency: One Design Need not Fit all Stock Sizes

Number of pages: 47 Posted: 23 Mar 2007
Peter L. Swan and P. Joakim Westerholm
University of New South Wales (UNSW Sydney and University of Sydney Business School
Downloads 304 (193,695)
Citation 4

Abstract:

Loading...

market design, exchange trading systems, transparency, opacity, decimalization

16.

Order Splitting and Interacting with a Counterparty

Journal of Financial Markets, Forthcoming
Number of pages: 64 Posted: 30 Jan 2020 Last Revised: 17 Apr 2023
Vincent van Kervel, Amy Kwan and P. Joakim Westerholm
Pontificia Universidad Católica de Chile, University of New South Wales (UNSW) and University of Sydney Business School
Downloads 265 (223,063)
Citation 2

Abstract:

Loading...

Order splitting, Signalling, Liquidity

17.

The Impact of Actual Market Wide Short Selling Restrictions and Liquidity Constraints During the Financial Crisis of 2008

22nd Australasian Finance and Banking Conference 2009
Number of pages: 19 Posted: 24 Aug 2009
Md Ahmed Mostafa and P. Joakim Westerholm
affiliation not provided to SSRN and University of Sydney Business School
Downloads 265 (223,063)

Abstract:

Loading...

short selling restrictions

18.

An Empirical Analysis of Strategic Behaviour Models

Number of pages: 41 Posted: 03 Feb 2005
University of Melbourne - Department of Finance, University of Queensland - Business SchoolSchroder Investment Management Limited and University of Sydney Business School
Downloads 258 (229,078)
Citation 1

Abstract:

Loading...

Informed trading, liquidity trading, strategic behaviour, intraday patterns

19.

Are Poison Pills Poison for Shareholders? Evidence from Japan

Number of pages: 27 Posted: 27 Jan 2009 Last Revised: 31 Jan 2009
Kazuo Kato, Joel Fabre and P. Joakim Westerholm
Osaka University of Economics, affiliation not provided to SSRN and University of Sydney Business School
Downloads 232 (254,131)
Citation 1

Abstract:

Loading...

Japan, keiretsu, takeover defense, poison pill, ownership structure

20.

High Frequency Trading, Market Volatility and Trading Counterparty Performance

29th Australasian Finance and Banking Conference 2016
Number of pages: 36 Posted: 23 Aug 2016 Last Revised: 07 Dec 2016
P. Joakim Westerholm
University of Sydney Business School
Downloads 230 (257,405)

Abstract:

Loading...

high frequency trading, counterparty performance

21.

Fool's Mate: What Does CHESS Tell Us About Individual Investor Trading Performance?

CIFR Paper No. 80/2015
Number of pages: 47 Posted: 07 Oct 2015
Reza Bradrania, Andrew R. Grant, P. Joakim Westerholm and Wei Wu
University of South Australia - UniSA Business School, University of Sydney Business School - Discipline of Finance, University of Sydney Business School and The University of Sydney
Downloads 220 (267,268)

Abstract:

Loading...

Individual investors, institutional investors, short-term reversals, liquidity

22.

Information Processing Skills of Short Sellers

Number of pages: 52 Posted: 14 Jan 2021 Last Revised: 17 Mar 2022
Levy Schattmann, Jan-Oliver Strych and P. Joakim Westerholm
Karlsruhe Institute of Technology - Institute for Finance, Karlsruhe Institute of Technology - Institute for Finance and University of Sydney Business School
Downloads 216 (271,820)

Abstract:

Loading...

short sales; healthcare; Covid-19, information processing skills; private information

23.

Insiders’ Profits in the Australian Equities Market

CIFR Paper No. 108/2016
Number of pages: 35 Posted: 03 May 2016 Last Revised: 03 Jul 2023
Henk Berkman, Reza Bradrania, Tina Prodromou and P. Joakim Westerholm
University of Auckland Business School, University of South Australia - UniSA Business School, The University of Wollongong and University of Sydney Business School
Downloads 208 (281,589)

Abstract:

Loading...

Insider Trading, CAAR

24.

The Other Insiders: Personal Trading by Brokers, Analysts, and Fund Managers

Review of Asset Pricing Studies, Forthcoming
Number of pages: 79 Posted: 25 Jan 2023
Henk Berkman, Paul Koch and P. Joakim Westerholm
University of Auckland Business School, Iowa State University and University of Sydney Business School
Downloads 193 (301,505)

Abstract:

Loading...

insider trading, brokers, analysts, fund managers, front running

25.

Institutional Trading and Asset Pricing

Journal of Banking and Finance, forthcoming
Number of pages: 57 Posted: 29 Nov 2014 Last Revised: 24 Apr 2018
Bart Frijns, Thanh Huynh, Alireza Tourani-Rad and P. Joakim Westerholm
Open University of the Netherlands - School of Management, Monash University - Department of Banking and Finance, Auckland University of Technology - Faculty of Business & Law and University of Sydney Business School
Downloads 167 (342,849)

Abstract:

Loading...

intermediary asset pricing, institutional trading, investor preferences, CAPM

26.

Asset Pricing Anomalies and the State Ownership Effect in China's Domestic Stock Market

30th Australasian Finance and Banking Conference 2017
Number of pages: 28 Posted: 30 Jun 2017
Henry Zhang, Stephen E. Satchell and P. Joakim Westerholm
The University of Sydney, Business School, Discipline of Finance, University of Cambridge - Faculty of Economics and Politics and University of Sydney Business School
Downloads 166 (346,440)

Abstract:

Loading...

State Owned Enterprise, risk factor, risk premia, value, size, momentum and sector premia

27.

Intra-Day Revelation of Counterparty Identity in the World's Best-Lit Market

28th Australasian Finance and Banking Conference
Number of pages: 52 Posted: 14 Aug 2015 Last Revised: 14 Jun 2020
Thu Phuong Pham, Peter L. Swan and P. Joakim Westerholm
Curtin University, University of New South Wales (UNSW Sydney and University of Sydney Business School
Downloads 157 (361,244)
Citation 3

Abstract:

Loading...

transparency, anonymity, market efficiency, market quality

28.

Trading Skills of Mutual Fund Managers: Evidence Based on Daily Transactions

Number of pages: 57 Posted: 22 Jul 2020 Last Revised: 10 Feb 2022
Rene Weh, P. Joakim Westerholm, Marco Wilkens and Juan Yao
University of Augsburg - Department of Finance and Banking, University of Sydney Business School, University of Augsburg and University of Sydney - Business School - Finance Discipline
Downloads 143 (389,721)

Abstract:

Loading...

Mutual funds, trading, performance, manager skill

29.

Who Moves First? Price Discovery by Institutional and Retail Investors.

Number of pages: 55 Posted: 01 Oct 2015
Zheng Wu, P. Joakim Westerholm and Shumi M. Akhtar
The University of Sydney, University of Sydney Business School and The University of Sydney
Downloads 141 (394,133)

Abstract:

Loading...

Price Discovery

30.

Foreign Investors' Reaction to Reduced Profitability - Does Governance Matter?

Number of pages: 40 Posted: 29 May 2007
Tom Berglund and P. Joakim Westerholm
Hanken School of Economics - Department of Economics and University of Sydney Business School
Downloads 139 (398,533)

Abstract:

Loading...

profit warnings, home bias, moral hazard

31.

Imputation Credits and Trading Around Ex-Dividend Day: New Evidence in Australia

31st Australasian Finance and Banking Conference 2018
Number of pages: 34 Posted: 30 Jul 2018
Andrew R. Grant, P. Joakim Westerholm and Winston Wu
University of Sydney Business School - Discipline of Finance, University of Sydney Business School and University of Sydney, Business School, Discipline of Finance, Students
Downloads 137 (403,028)
Citation 2

Abstract:

Loading...

Dividend imputation; Ex-dividend day; Dividend Clientele

32.

Do Uninformed Crossed and Internalised Trades Tap into Unexpressed Liquidity?

Number of pages: 49 Posted: 25 May 2007
P. Joakim Westerholm
University of Sydney Business School
Downloads 132 (414,990)

Abstract:

Loading...

crossing, internalisation, upstairs, limit order book, market quality

33.

Contrarians or Momentum Chasers? Individual Investors’ Behavior When Trading ETFs

Forthcoming, The Journal of Futures Markets
Number of pages: 38 Posted: 23 Oct 2018 Last Revised: 26 Oct 2018
Carlo Da Dalt, David Feldman, Gerald T. Garvey and P. Joakim Westerholm
Investec, Banking and Finance, UNSW Business School, UNSW Sydney, Blackrock and University of Sydney Business School
Downloads 131 (417,473)

Abstract:

Loading...

ETF, Momentum, Contrarian, Household, Behavior

34.

International Trading Patterns and Investor Performance

Number of pages: 50 Posted: 25 May 2007
P. Joakim Westerholm
University of Sydney Business School
Downloads 125 (432,691)

Abstract:

Loading...

Investor performance, Momentum, Contrarian, Home Bias

35.

The Idiosyncratic Volatility Anomaly and the Resale Option in Chinese Stock Markets

Number of pages: 42 Posted: 21 Nov 2018 Last Revised: 29 Nov 2018
Zhiguang Cao, Stephen Satchell, P. Joakim Westerholm and Henry Zhang
Shanghai University of Finance and Economics - Department of Finance, The University of Sydney, University of Sydney Business School and The University of Sydney, Business School, Discipline of Finance
Downloads 105 (492,449)

Abstract:

Loading...

Idiosyncratic Volatility, Resale Option, China

36.

Do CEO Investors Engage in More Corporate Innovation?

2015 Financial Markets & Corporate Governance Conference
Number of pages: 40 Posted: 30 Jan 2015
Reza Bradrania, P. Joakim Westerholm and James Yeoh
University of South Australia - UniSA Business School, University of Sydney Business School and The University of Sydney
Downloads 102 (502,622)

Abstract:

Loading...

Compensation, Corporate innovation, CEO trades

37.

Who Benefits from Broker ID Disclosure?

31st Australasian Finance and Banking Conference 2018
Number of pages: 67 Posted: 30 Jul 2018
Juliane Krug, Peter L. Swan and P. Joakim Westerholm
University of New South Wales, University of New South Wales (UNSW Sydney and University of Sydney Business School
Downloads 89 (549,282)
Citation 1

Abstract:

Loading...

Market quality, market efficiency, liquidity, transparency, broker IDs, trades, orders, individual investors, institutional investors

38.

Reference Price Formation for Packaged Transactions

Number of pages: 13 Posted: 29 Aug 2012
Andrew R. Grant and P. Joakim Westerholm
University of Sydney Business School - Discipline of Finance and University of Sydney Business School
Downloads 80 (585,474)

Abstract:

Loading...

39.

Trading Skills of Mutual Fund Managers: Evidence from Daily Transactions

Number of pages: 56 Posted: 20 Apr 2023
P. Joakim Westerholm, Rene Weh, Marco Wilkens and Juan Yao
University of Sydney Business School, University of Augsburg - Department of Finance and Banking, University of Augsburg and University of Sydney - Business School - Finance Discipline
Downloads 66 (650,116)

Abstract:

Loading...

mutual funds, trading, performance, manager skill

40.

Are Domestic Household Investors Better Performers than Foreign Institutions? New Evidence from Finland

2016, Behavioral Finance, Where Do Investors' Biases Come From?, Edited by Itzhak Venezia, Hackensack, NJ, World Scientific Publishing
Number of pages: 39 Posted: 06 Jul 2017
Peter L. Swan and P. Joakim Westerholm
University of New South Wales (UNSW Sydney and University of Sydney Business School
Downloads 56 (703,392)

Abstract:

Loading...

positive-feedback trading; agency problems; home-bias; noise trading

41.

Do CEOs Who Trade Shares Adopt More Aggressive Corporate Investment Strategies?

Pacific-Basin Finance Journal, Vol. 40, 2016
Number of pages: 49 Posted: 18 Nov 2021
Reza Bradrania, P. Joakim Westerholm and James Yeoh
University of South Australia - UniSA Business School, University of Sydney Business School and The University of Sydney
Downloads 35 (846,959)

Abstract:

Loading...

CEO risk aversion, CEO compensation

42.

Why Do Trading Frenzies Motivate “locals” to Make Better Trading Decisions

Number of pages: 77 Posted: 21 May 2024 Last Revised: 23 May 2024
Wei Lu, Peter L. Swan and P. Joakim Westerholm
RQI Investors, University of New South Wales (UNSW Sydney and University of Sydney Business School
Downloads 33 (863,877)

Abstract:

Loading...

Local advantage, Home bias, Calendar-time, Horizon-invariant, Disposition effect.

43.

Who Moves First and What Determines this Move for Institutional and Retail Investors

Number of pages: 27 Posted: 17 Sep 2024
Shumi M. Akhtar, Vycke Wu and P. Joakim Westerholm
The University of Sydney, The University of Sydney and University of Sydney Business School
Downloads 10 (1,096,268)

Abstract:

Loading...

trading, price discovery, institutional investors, liquidity

44.

Gender Difference in Equity Portfolio Diversification

Number of pages: 51 Posted: 24 Sep 2024
Zheng Wu and P. Joakim Westerholm
The University of Sydney and University of Sydney Business School
Downloads 3 (1,173,262)

Abstract:

Loading...

portfolio diversification, genders, portfolio performance

45.

Analyst Tipping: Evidence on Finnish Stocks

International Review of Financial Analysis, Vol. 66: 1-12. (2019)
Posted: 07 Dec 2017 Last Revised: 12 May 2020
Ruiqi Mao, Reuben Segara and P. Joakim Westerholm
University of Sydney Business School, University of Sydney Business School and University of Sydney Business School

Abstract:

Loading...

analyst upgrades, analyst downgrades, tipping

46.

Determinants of Household Broker Choice and the Impact on Performance

28th Australasian Finance and Banking Conference
Posted: 21 Aug 2015 Last Revised: 22 Jul 2019
Kingsley Fong, Juliane Krug, Henry Leung and P. Joakim Westerholm
UNSW Business School, Technical University of Darmstadt, University of Sydney Business School and University of Sydney Business School

Abstract:

Loading...

broker choice, demographics, household investor

47.

An International Trend in Market Design: Endogenous Effects of Limit Order Book Transparency on Volatility, Spreads, Depth and Volume

Journal of International Financial Markets, Institutions and Money 27, 202-223.
Posted: 25 Sep 2013 Last Revised: 14 Jun 2020
Thu Phuong Pham and P. Joakim Westerholm
Curtin University and University of Sydney Business School

Abstract:

Loading...

Transparency, Broker ID, Market Quality, Limit Order Book

48.

The Role of Trading Intensity Estimating the Implicit Bid-Ask Spread and Determining Transitory Effects

Posted: 06 May 2010 Last Revised: 07 Jul 2011
Bernard Ben Sita and P. Joakim Westerholm
Lebanese American University and University of Sydney Business School

Abstract:

Loading...

Transaction costs, ACD, Volatility, Information Asymmetry