Do Finance Professors Invest Like Everyone Else?

Posted: 21 Aug 2014

See all articles by Ann Marie Hibbert

Ann Marie Hibbert

West Virginia University - Department of Finance

Edward R. Lawrence

Florida International University (FIU) - Department of Finance

Arun J. Prakash

affiliation not provided to SSRN

Date Written: September 24, 2012

Abstract

Comparing the results of the Fed’s Survey of Consumer Finances with those of a survey of finance professors at U.S. universities, the authors found that finance professors are significantly more likely than others to invest in equities. They also found that finance professors are less prone to behavioral biases because their decision not to invest in equities is based on neither the outcome of their past investments nor their short-term expectations of the market.

Keywords: Equity Investments, Behavioral Finance, Behavioral Biases, Overconfidence and Excessive Optimism, Individual Investor Behavioral Biases, Individual Stock Trading Behavior, Portfolio Management, Equity Portfolio Management Strategies

Suggested Citation

Hibbert, Ann Marie and Lawrence, Edward R. and Prakash, Arun J., Do Finance Professors Invest Like Everyone Else? (September 24, 2012). Financial Analysts Journal, Vol. 68, No. 5, 2012, Available at SSRN: https://ssrn.com/abstract=2151505

Ann Marie Hibbert (Contact Author)

West Virginia University - Department of Finance ( email )

Morgantown, WV 26506
United States

Edward R. Lawrence

Florida International University (FIU) - Department of Finance ( email )

University Park
11200 SW 8th Street
Miami, FL 33199
United States

Arun J. Prakash

affiliation not provided to SSRN ( email )

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