Wednesday, March 19, 2008

Amidu recently gets one in print

See link below (you may have to copy the link and past it directly into your browser).  Congratulations Amidu!

http://www.emeraldinsight.com/Insight/emailRedirect.do?enc=L3ZpZXdDb250YWluZXIuZG8/Y29udGFpbmVyVHlwZT1Jc3N1ZSZjb250YWluZXJJZD02MDEyNDk0JmxvZ0FjdGlvbj1mYWxzZQ==

Friday, March 14, 2008

Novices vs Experts

From SSRN:
Experienced and Novice Investors: Does Environmental Information Influence Investment Allocation Decisions?

CLAUS HOLM Aarhus School of BusinessPALL RIKHARDSSON University of Aarhus - School of Business

European Accounting Review, Forthcoming

Abstract: This paper examines the effect of environmental information on investment decisions. The results are based on an experiment in which groups of investors (varied by experience) were asked to make short and long term investment allocation decisions based on financial information and on supplementary environmental information (varied between cases). The results suggest that environmental information disclosure influences investment allocation decisions. The results also suggest that potentially mitigating factors such as the investment horizon and the experience level of investors affect investment allocation decisions, but the predicted main effect of positive environmental information holds across different investment horizons and investor types. Hence, the results are not attributable to interaction effects. Interestingly, compared to other company information, environmental information is not rated as being very important by participating subjects even though the results suggest that it influences investment decisions.

Keywords: Environmental reporting, environmental disclosures, allocation, decision making, investment horizon, investors, experiment

Experimental Asset Markets

This manuscript recommends the greater use of experimental asset market research in financial markets and also provides a model for an analysis of the validity of experimental results.

Gerding, Erik F., "Laws Against Bubbles: An Experimental-Asset-Market Approach to Analyzing Financial Regulation" . Wisconsin Law Review, Vol. 2007, No. 5, 2007 Available at SSRN: http://ssrn.com/abstract=1088474

Friday, March 7, 2008

Fyi on an Overconfidence study

Bessiere, Veronique and Sentis, Patrick, "Corporate Disclosure, Information Uncertainty and Investors' Behavior: A Test of the Overconfidence Effect on Market Reaction to Goodwill Write-Offs" (December 2007).

Paris December 2007 Finance International Meeting AFFI-EUROFIDAI Paper Available at SSRN: http://ssrn.com/abstract=1070804

Monday, March 3, 2008

Proposed Call for Papers - DRAFT

This is a proposed Call for Paper for a proposed special issue of IJSPM. This is more of a valuation issue with valuation behavioural issues incorporated into the topics and questions of interest. If anyone can think of any changes or additions to the topics and questions below, please let me know. There might be some very good ideas from more of the international or institutional perspectives. In other words, what would you like to see?

FIRST DRAFT - Call for Papers
International Journal of Strategic Property Management
Special Issue on Property Valuation
Submission deadline: January 31, 2009

The International Journal of Strategic Property Management announces a call for papers for a special issue on property valuation. Authors are encouraged to submit original research related to property valuation theory and practice. Topics and questions of interest include, but are not limited to, the following:

Valuation and securitisation.
Valuation accuracy.
General valuation decision-making processes/models.
Reference points in valuation judgment.
Cross-cultural considerations in valuation behaviours.
Hedonic valuation theory.
Spatial econometric methods in valuation models.
Valuation of partial interests.
Issues pertaining to the separation of business/intangible interests from property value.
Non-traditional valuation techniques and methods.
Valuation and portfolio considerations.
Valuation for use in property management and performance evaluation.
Client feedback issues and its influence on valuation judgment and role perceptions.
Valuation based indices compared to transaction based indices.
International valuation standards and valuation standards in developing economies.
Ad-valorem (assessment) valuation techniques.
Accuracy and reliability of automated valuation models.
Valuation judgment by non-experts (property owners, portfolio managers, brokers).
Valuation expertise development.

How Well do Individuals Predict the Selling Prices of their Homes?

http://www.fedea.es/pub/Papers/2008/dt2008-10.pdf

Study looking at homeowners' ability to predict the selling prices of their own homes.