Are normative models in Finance realistic?
- Peón, David
- Antelo, Manel
ISSN: 2340-6704, 0210-0266
Datum der Publikation: 2012
Ausgabe: 35
Nummer: 98
Seiten: 89-99
Art: Artikel
Andere Publikationen in: Cuadernos de economía: Spanish Journal of Economics and Finance
Zusammenfassung
In this paper we approach financial investors to see how they analyze financial markets, adopt their investment decisions, and buy financial products. Our main goal is to ascertain whether or not the investment guidelines provided by the most accepted normative theories in Finance are carried out in practice by investors. In order to do that, we review the main financial theories, either normative or descriptive, and we then provide empirical evidence of the investors' behaviour. Findings show that investors often disobey the recommendations offered by normative theories in Finance.
Informationen zur Finanzierung
financial aid from Galician Autonomous Government (Xunta de Galicia) through Grant INCITE09201042PR. The usual disclaimer applies.Geldgeber
-
Xunta de Galicia
Spain
- INCITE09201042PR
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