Behavioral finance studies the application of psychology to finance, with a focus on
individual-level cognitive biases. I describe here the sources of judgment and decision …

I provide a synthesis of the Behavioural finance literature over the past two decades. I review
the literature in three parts, namely,(i) empirical and theoretical analyses of patterns in the …

This paper models firms' choices between alternative means of presenting information, and
the effects of different presentations on market prices when investors have limited attention …

This paper examines how cultural differences influence the returns of momentum strategies.
Cross‐country cultural differences are measured with an individualism index developed by …

Based on extant literature, we review the positive theory of GAAP. The theory predicts that
GAAP's principal focus is on control (performance measurement and stewardship) and that …

We examine whether market-wide investor sentiment influences the stock price sensitivity to
firm-specific earnings news. Using the recently developed measure of investor sentiment …

Finance is in the midst of a paradigm shift, from a neoclassical based framework to a
psychologically based framework. Behavioral finance is the application of psychology to …

We examine whether rational investor responses to information uncertainty (IU) explain
properties of and returns to the post‐earnings‐announcement‐drift (PEAD) trading anomaly …

This paper examines the effect of transaction costs on the post–earnings announcement drift
(PEAD). Using standard market microstructure features we show that transaction costs …

We contribute to the research on organizational accounts by examining the role of different
framing languages and the credibility of the frame articulator on justifying controversial …