Статті в журналах: "Investment expectations"

1

Gennaioli, Nicola, Yueran Ma, and Andrei Shleifer. "Expectations and Investment." NBER Macroeconomics Annual 30, no. 1 (January 2016): 379–431. http://dx.doi.org/10.1086/685965.

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2

Huang, Wen-Hsien, and Marcel Zeelenberg. "Investor regret: The role of expectation in comparing what is to what might have been." Judgment and Decision Making 7, no. 4 (July 2012): 441–51. http://dx.doi.org/10.1017/s1930297500002771.

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AbstractInvestors, like any decision maker, feel regret when they compare the outcome of an investment with what the outcome would have been had they invested differently. We argue and show that this counterfactual comparison process is most likely to take place when the decision maker’s expectations are violated. Across five scenario experiments we found that decision makers were influenced only by forgone investment outcomes when the realized investment fell short of the expected result. However, when their investments exceeded prior expectations, the effect of foregone investment on regret disappeared. In addition, Experiment 4 found that individual differences in the need to maximize further moderated the effects of their expectations, such that maximizers always take into account the forgone investment. The final experiment found that when probed to make counterfactual comparisons, also investments that exceed expectations may lead to regret. Together these experiments reveal insights into the comparative processes leading to decision regret.

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3

Peng, Jun, and Qiushi Wang. "Alternative investments: is it a solution to the funding shortage of US public pension plans?" Journal of Pension Economics and Finance 19, no. 4 (April 23, 2019): 491–510. http://dx.doi.org/10.1017/s147474721900012x.

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AbstractSince 2001, public-pension plans have increasingly relied upon alternative investments (AIs). We examine the impact of this trend on investment performance and the factors that led to the reliance on AI. Using data from 92 largest plans 2001–2014, we found AI, especially private equity, generally had a positive effect on investment performance, but the effect was small and unsustainable. We also found that plans with a lower funded ratio and higher investment return expectation were more likely to allocate more assets to AIs. These findings suggest that the prospect of relying on AIs to meet investment return expectations remains a long-term challenge for state and local governments.

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4

Smith, Ron, and Gylfi Zoega. "Keynes, investment, unemployment and expectations." International Review of Applied Economics 23, no. 4 (July 2009): 427–44. http://dx.doi.org/10.1080/02692170902954767.

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5

Vannier, Sarah A., and Lucia F. O’Sullivan. "Great expectations." Journal of Social and Personal Relationships 35, no. 8 (April 19, 2017): 1045–66. http://dx.doi.org/10.1177/0265407517703492.

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Expectations for one’s romantic relationship, and the extent to which these expectations are actually met, are important predictors of relationship outcomes. Themes of romanticism (e.g., idealism, soul mates, love at first sight) emerge from our romantic socialization. But what happens when romantic relationships fall short of these ideals and expectations are unmet? The current study examined the association among unmet romantic expectations and relationship outcomes using an investment model framework. The sample comprised 296 U.S. young adults involved in dating relationships. Participants provided ratings of the romantic characteristics of their current, ideal, and potential alternative relationships. Unmet romantic expectations based on an ideal relationship were associated with lower relationship satisfaction, commitment, and investment. Unmet romantic expectations based on an alternative relationship were associated with lower relationship satisfaction, investment, and commitment and higher quality of alternatives. The results are discussed in terms of implications for researchers and clinicians/counselors.

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6

Yulhendri, Yulhendri, Tri Kurniawati, and Nora Susanti. "STRATEGI INVESTASI PADA RUMAH TANGA PETANI TRADISIONAL DI KECAMATAN MAPATTUNGGUL SELATAN." JURNAL EKONOMI PENDIDIKAN DAN KEWIRAUSAHAAN 6, no. 1 (March 31, 2018): 15. http://dx.doi.org/10.26740/jepk.v6n1.p15-30.

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Analyzing household’s investment behavior in remote environments is attractively conducted as a scientific effort to tackle the problem of poverty in the long term. The population of study was households located in remote areas in Pasaman Regency, district of South Mapattunggul. It is about 1,991 heads of household. The sample is 307 households which are formulated by using Slovin formula. This study uses multiple regression analysis and qualitative analysis on mixed method perspective. Investment behavior in traditional farming households in the District of South Mapattunggul is influenced by consumer behavior, knowledge, hope the old days, learning, price, and level of education. Partially, learning process and life expectation do not affect the investment behavior. Knowledge of pricing information has a negative correlation with the investment. It means that the higher the price, or the risks they run, the lower investments. This is in line with the general logic that the higher the risk, the less people are willing to enter into an investment. Society is mainly prioritizing daily consumption as the main priority use of their revenue when the prices are high.Community learning process does not consistently affect the investment behavior including expectations of the old days. It is caused by lower educational facilities and low level of households expectations in improving their old days lives.

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7

Ilie, Lucian. "Revisiting the Concept of Legitimate Expectations in Renewable Energy Treaty Cases." European Investment Law and Arbitration Review Online 6, no. 1 (December 20, 2021): 169–88. http://dx.doi.org/10.1163/24689017_0601008.

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The past decade has seen a significantly increased level of foreign investment as a result of international initiatives on the development of alternative energy sources. The renewable energy sector often depends on significant up- front investments, which can only be recouped over a long period. Given the substantial initial capital investment required, many countries have implemented government subsidies and support schemes to encourage investments in renewable energy. For different reasons, some countries have recently decided to change or eliminate those incentives, triggering a wave of arbitral proceedings. These disputes raise fundamental questions, particularly concerning the need for investment protection, on the one hand, and the host State’s right to regulate, on the other. This article provides an overview of the evolution of the concept of legitimate expectations in renewable energy cases, which covers (1) the traditional approach giving rise to legitimate expectations, reflecting contractual arrangements and specific commitments or representations made by States, and (2) the modern approach where legitimate expectations may arise under a general domestic regulatory or legislative framework aimed to attract investments, and from investors’ expectations to obtain a ‘reasonable rate of return’ on their investments.

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8

Lainé, Michael. "Can Culture Account for Investment Expectations?" Journal of Economic Issues 50, no. 1 (January 2, 2016): 72–94. http://dx.doi.org/10.1080/00213624.2016.1147895.

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9

FRAGA, JEFFERSON S., and MARCO FLÁVIO DA CUNHA RESENDE. "Infraestrutura, expectativas privadas e investimento." Brazilian Journal of Political Economy 42, no. 3 (September 2022): 678–96. http://dx.doi.org/10.1590/0101-31572022-3287.

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RESUMO A literatura econômica destaca as externalidades positivas dos gastos em infraestrutura sobre o crescimento das economias. Este artigo, de cunho teórico, se baseia em alguns dos principais insights da Escola Pós-Keynesiana relacionados ao investimento com dois objetivos: i) explicitar as interações entre infraestrutura, convenções, expectativas e investimento agregado privado, sintetizadas naquilo que Keynes denominou investimento tecnicamente social; e ii) demonstrar que as descontinuidades no investimento em infraestrutura reduzem as sensibilidades do investimento agregado privado em relação aos seus determinantes, com implicações para a política econômica. Na literatura Pós-Keynesiana, o investimento privado é volátil e sensível a mudanças de convenções e expectativas. Mostramos que os gastos em infraestrutura estimulam os investimentos privados porque reduzem a incerteza e coordenam o surgimento de convenções e expectativas privadas favoráveis ao investimento.

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10

Huang, Tian, Deyi Shi, and Shihao Xue. "The role and helpfulness of pensions in personal financial investment after retirement." BCP Business & Management 23 (August 4, 2022): 255–63. http://dx.doi.org/10.54691/bcpbm.v23i.1359.

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More than 90% of wage earners in the United States can receive pension options benefits after retirement. It is especially important to manage funds reasonably and choose the right investment after retirement. We use the capital asset pricing model (CAPM) and the Fama-French three-factor model to establish pension and non-pension investment portfolios and measure the return and risk changes of pension portfolio investments under different portfolio investments. The experimental results show that pensions are of great help to the return and Sharpe ratio of portfolio investments. With the intervention of different factors, pensions provide good and stable income support for portfolio investments. Especially under the expectations of different markets, pensions performed extremely well in portfolio investments. With the establishment of reasonable portfolio investment, we suggest that adding pensions to the portfolio investment will bring more stable investment performance.

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11

Cummins, Jason G., Kevin A. Hassett, and Stephen D. Oliner. "Investment Behavior, Observable Expectations, and Internal Funds." American Economic Review 96, no. 3 (May 1, 2006): 796–810. http://dx.doi.org/10.1257/aer.96.3.796.

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We use earnings forecasts from securities analysts to construct a new measure of the neoclassical fundamentals that drive investment spending. We find that investment responds significantly to our new measure of fundamentals but is insensitive to cash flow, even for firms typically thought to be liquidity constrained. These results have two key implications. First, fundamentals may be more important for investment spending than would be suggested by the results to date from investment-q models. Second, the positive cash-flow effects obtained in such models may reflect a failure to control properly for fundamentals rather than the presence of financial constraints.

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12

PRECIOUS, MARK. "DEMAND CONSTRAINTS, RATIONAL EXPECTATIONS AND INVESTMENT THEORY *." Oxford Economic Papers 37, no. 4 (December 1985): 576–605. http://dx.doi.org/10.1093/oxfordjournals.oep.a041711.

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13

Chetty, S., and Lorraine Greyling. "UNCERTAINTY AND EXPECTATIONS IN FIXED INVESTMENT BEHAVIOUR1." South African Journal of Economics 69, no. 2 (July 6, 2005): 218–42. http://dx.doi.org/10.1111/j.1813-6982.2001.tb00011.x.

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14

Cummins, Jason G., Kevin A. Hassett, and Stephen D. Oliner. "Investment Behavior, Observable Expectations, and Internal Funds." Finance and Economics Discussion Series 1999, no. 27 (1999): 1–51. http://dx.doi.org/10.17016/feds.1999.27.

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15

Larry Randall, Wray. "Profit Expectations and the Investment–Saving Relation." Journal of Post Keynesian Economics 11, no. 1 (September 1988): 131–47. http://dx.doi.org/10.1080/01603477.1988.11489729.

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16

DAVE, CHETAN. "ARE INVESTMENT EXPECTATIONS RATIONAL, ADAPTIVE OR REGRESSIVE?" Economic Inquiry 49, no. 1 (January 2011): 212–25. http://dx.doi.org/10.1111/j.1465-7295.2010.00305.x.

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17

Armona, Luis, Andreas Fuster, and Basit Zafar. "Home Price Expectations and Behaviour: Evidence from a Randomized Information Experiment." Review of Economic Studies 86, no. 4 (July 27, 2018): 1371–410. http://dx.doi.org/10.1093/restud/rdy038.

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Abstract Home price expectations are believed to play an important role in housing dynamics, yet we have limited understanding of how they are formed and how they affect behaviour. Using a unique “information experiment” embedded in an online survey, this article investigates how consumers’ home price expectations respond to past home price growth, and how they impact investment decisions. After eliciting respondents’ priors about past and future local home price changes, we present a random subset of them with factual information about past (one- or five-year) changes, and then re-elicit expectations. This unique “panel” data allows us to identify causal effects of the information, and provides insights on the expectation formation process. We find that, on average, year-ahead home price expectations are revised in a way consistent with short-term momentum in home price growth, though respondents tend to underpredict the strength of momentum. Revisions of longer-term expectations show that respondents do not expect the empirically-occurring mean reversion in home price growth. These patterns are in line with recent behavioural models of housing cycles. Finally, we show that home price expectations causally affect investment decisions in a portfolio choice experiment embedded in the survey.

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18

McMahan, Ku, and Saad Usmani. "The Economic Benefits of Supporting Private Social Enterprise at the Nexus of Water and Agriculture: A Social Rate of Return Analysis of the Securing Water for Food Grand Challenge for Development." Sustainability 14, no. 10 (May 14, 2022): 5969. http://dx.doi.org/10.3390/su14105969.

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This article attempts to evaluate the comparative socioeconomic benefits of funding performance-based private sector social enterprises and posits that the social rate of return of such investments is significant and exceeds expectations for similar investment portfolios. Using the case study of the Securing Water for Food Grand Challenge for Development, we perform a social rate of return analysis on 16 water conservation technologies (WCTs) in 10 nations. Through using an extensive benefit cost ratio, we obtain the Marginal Internal Rate of Return whereby the discounted value of future benefits is equal to the reinvestment cost of capital for the SWFF portfolio. This allows the impact of SWFF to be comparable to other investments and serve as a benchmark. The resulting social rate of return metrics exceed the conservative expectations of impact investment funds as well as comparable foreign aid investments. The reasons behind this high rate of social impact are further explored and recommendations are provided accordingly for an alternative performance-based investment model of foreign aid disbursement that prioritizes scalable small and medium-sized social agribusiness enterprises in developing nations.

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19

Antwi-Bediako, Richmond, Kei Otsuki, Annelies Zoomers, and Aklilu Amsalu. "Global Investment Failures and Transformations: A Review of Hyped Jatropha Spaces." Sustainability 11, no. 12 (June 18, 2019): 3371. http://dx.doi.org/10.3390/su11123371.

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There was a heightened global interest in large-scale Jatropha cultivation for the past few decades, and this incited investment toward the crop in many developing countries. Many saw Jatropha as a green fuel that could possibly be an alternative to fossil fuel, which has adverse implications to deal with the impacts of climate change. However, Jatropha investments failed to meet global expectations, leading to unexpected social, environmental, and economic transformations in the investment spaces. This paper reviews and synthesizes the transformations and complexities in failed Jatropha spaces in six previous major Jatropha investment destinations across the world—Mexico, India, China, Ethiopia, Mozambique, and Ghana—by employing qualitative data analysis. The findings generally show that, in all of the countries studied, promoters of Jatropha investments, including the central government and private investors, subscribed to a “wait-and-see” approach with positive expectations. The review revealed that the intended goal of establishing global Jatropha investments to serve as an alternative source of fuel failed because of the unexpected complexities of the hype, which dwelled much on the deferment option of the “wait-and-see” approach for global Jatropha investments. Failure of the investments along with unmet expectations led to land-use changes from Jatropha to the cultivation of other crops (often food crops) or total land abandonment. Although we are not totally pessimistic about the economic and production viability of Jatropha as a biofuel feedstock, we emphasize the importance of paying considerable attention to other feedstocks that might have a better future as alternatives to fossil-based energy for the deployment of sustainable bioenergy. Furthermore, our findings provide meaningful justification for policy- and decision-makers in the development space to tacitly reflect and appraise new investment initiatives or interventions before endorsement.

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20

Mohd Aziz, Nor Izzati, and Salina Kassim. "INVESTMENT DECISION MAKING TOWARDS INVESTING IN ISLAMIC UNIT TRUSTS AMONGST WOMEN." Vol. 16, Number 1, 2021 16, Number 1 (January 30, 2021): 43–54. http://dx.doi.org/10.32890/ijbf2021.16.1.3.

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The differences in skill expectations and knowledge are amongst factors that contribute to the variances when men and women choose financial products. Women are claimed to be risk averse, somewhat insecure, lacking self-confidence and interest in financial investment products. Nevertheless, the evolving working and educational environment has changed this stereotype, wherein women are increasingly more educated, knowledgeable, and are more exposed to investments. Gender equality between men and women in terms of the volume of investments has turned into a requirement that boosts economic growth with people being the most important factor to contribute through investing habit. This cannot be realised if only men are involved in investment. Financial institutions aim certain figures of targeted investment volume each year. As such, this study identified the factors of women investments, particularly in Islamic unit trusts. A total of 201 respondents were selected via the convenience sampling technique. The Likert scale questionnaires were analysed using SMART PLS software. As a result, several investment behaviours, including investment objectives, return expectations, awareness, and risk attitude, emerged as factors that influenced women investors to choose unit trusts. The study outcomes are beneficial in devising effective strategies that may attract women to invest in Islamic unit trust. Besides, certain agencies should conduct campaigns or seminars on financial literacy for this potential sector, so as to enhance their knowledge in investing in Islamic unit trusts.

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21

LV, Xiu-Mei, and Gang-Zhi FAN. "OVERBUILDING AND DEVELOPMENT CASCADES UNDER IRRATIONAL EXPECTATIONS." International Journal of Strategic Property Management 19, no. 4 (December 23, 2015): 381–94. http://dx.doi.org/10.3846/1648715x.2015.1073193.

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The recent sluggish recovery in the U.S. house market has further motivated our research interests in overbuilding in real estate markets. Our model is an extension to Grenadier's (1996), who emphasizes rational investment decisions possibly leading to oversupply in real estate markets, by further allowing for the important implication of irrational expectation for the strategic interaction amongst competing investors. In this model, two market participants are asymmetric because one of them is allowed to have heterogeneous expectations about the growth and volatility of demand shocks. Unlike most of previous studies that only simply think of this phenomenon as a result of irrationality, our model further finds that irrational investors’ value-maximizing investment choices matter in understanding the strategic interaction of investment decisions in real estate markets, therefore providing additional insights into overbuilding and other puzzling phenomena in real estate markets.

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22

Lowies, Braam, Robert Brenton Whait, Christa Viljoen, and Stanley McGreal. "Fractional ownership – an alternative residential property investment vehicle." Journal of Property Investment & Finance 36, no. 6 (September 3, 2018): 513–22. http://dx.doi.org/10.1108/jpif-02-2018-0013.

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Purpose The purpose of this paper is to determine the profile of the typical online fractional residential property investor in Australia. This study also seeks to understand the motives for engaging with and investing in alternative residential property investments. Design/methodology/approach This study employs a survey-based design via an online questionnaire to gather information on investor age, gender, type, education levels, time horizons and investment history and risk and return expectations. It also gathers information regarding investors’ financial literacy including tax implications of fractional property investment. Findings The findings of this study suggest amongst others, that fractional property investors tend to be younger, although the platform also attracts older investors including older females. The study also found that investors do not select alternative investment platforms in anticipation of super-normal investment returns. Return expectations are realistic and are based on a balance between capital growth and income. Practical implications This study indicates that alternative investment platforms lowers the barriers of entry into residential property for first time investors. It therefore creates opportunities to allow many first time individual investors to invest in property, often as an alternative to bank savings or investing in the stock market. Originality/value This study enhances our understanding of the influence of alternative investment platforms on investment decision-making. More specifically, it contrasts fractional property investment with more traditional investment opportunities to understand the motives of investors for diversifying into online investment vehicles.

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23

Farnelli, Gian Maria. "Recent Trends in Investment Arbitration Concerning Legitimate Expectations." International Community Law Review 23, no. 1 (March 31, 2021): 27–56. http://dx.doi.org/10.1163/18719732-12341457.

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Abstract The article addresses how the obligation not to frustrate legitimate expectations has been interpreted and applied in recent investment disputes arising out of amendments in domestic regimes in the renewable energies sector. The analysis will address cases against Czechia, Italy and Spain, the Countries currently facing the majority of disputes for alleged breaches of the Energy Charter Treaty. Jurisdictional issues related to the case law at hand, such as those stemming from intra-EU arbitration, will not be addressed. The contribution is divided in three parts, next to the introduction. First, the notion of legitimate expectations will be analysed. Second, the Czech, Italian and Spanish cases will be addressed, briefly sketching the respective domestic legal frameworks. As a conclusion, it will be suggested that tribunals have considered the fact that a State is exercising its regulatory power, and a potential lack of investors’ due diligence, in diminishing the quantum of compensation, and that such case law adds to the establishment of general “interpretative elements” of FET.

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24

Hansson, Ingemar. "Market Adjustment and Investment Determination under Rational Expectations." Economica 53, no. 212 (November 1986): 505. http://dx.doi.org/10.2307/2554100.

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25

Cummins, Jason G., Kevin A. Hassett, and Stephen D. Oliner. "Investment Behavior, Observable Expectations, and Internal Funds: Corrigendum." American Economic Review 103, no. 4 (June 1, 2013): 1538–39. http://dx.doi.org/10.1257/aer.103.4.1538.

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26

Chakrabarti, Rajesh, and Barry Scholnick. "Exchange rate expectations and foreign direct investment flows." Weltwirtschaftliches Archiv 138, no. 1 (March 2002): 1–21. http://dx.doi.org/10.1007/bf02707321.

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27

Kakovkina, T. V. "INVESTMENT DECISIONS IN AN ENVIRONMENT OF RATIONAL EXPECTATIONS." Современная экономика проблемы и решения, no. 9 (2016): 20–29. http://dx.doi.org/10.17308/meps.2016.9/1508.

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28

Karguine, Slava. "Optimal Asset Allocation with Asymptotic Criteria." International Journal of Theoretical and Applied Finance 06, no. 06 (September 2003): 593–604. http://dx.doi.org/10.1142/s0219024903002080.

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With the assumptions that asset returns follow a stochastic multi-factor process with time-varying conditional expectations and investments are linear functions of factors, we calculate asymptotic joint moments of the logarithm of investor's wealth and the factors. These formulas enable fast computation of a wide range of investment criteria. The results are illustrated by a numerical example that shows that the optimal portfolio rules are sensitive to the specification of the investment criterion.

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Campbell, Christopher. "House of Cards: The Relevance of Legitimate Expectations under Fair and Equitable Treatment Provisions in Investment Treaty Law." Journal of International Arbitration 30, Issue 4 (August 1, 2013): 361–79. http://dx.doi.org/10.54648/joia2013024.

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This article examines the common practice of considering the relevance of an investor's 'legitimate expectations' in determining whether they have been afforded fair and equitable in investment treaty law disputes. The legitimate expectations doctrine has been divined from fair and equitable treatment provisions commonly found in international investment treaties. This article examines the different types and sources of fair and equitable provisions from which the legitimate expectations doctrine has been derived, and examines the development of both the customary international law minimum standard and the development of the law in arbitral practice. On examination, it is considered that neither customary international law nor the standard fair and equitable treatment provisions found in international investment treaties provide a sufficient basis for the consideration given to an investor's legitimate expectations in investment treaty law; this has been rather an invention of arbitrators. Furthermore, many arbitral tribunals have been severely lacking in grounding their decisions in law, generally citing other tribunal decisions which do not create law, or no law at all. Finally, it is considered that in addition to being a doctrine that has made its way into the canon of investment treaty law without any legal basis, the expectations of investors should be disavowed as an inappropriate standard by which to judge state conduct.

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30

Lima, Gilberto Tadeu, and Mark Setterfield. "Expectations and Stability in the Kaleckian Growth Model." Brazilian Keynesian Review 2, no. 1 (August 31, 2016): 11–25. http://dx.doi.org/10.33834/bkr.v2i1.51.

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A central element in the canonical Kaleckian growth model is the demand-led output-adjustment stability condition known as the Keynesian stability condition. This condition requires that, all else constant, saving be less responsive to changes in capital capacity utilization than investment. This paper further explores the plausibility of the Keynesian stability condition by enriching the Kaleckian growth model with a more fully developed Keynesian theory of expectations formation. As a result, the responsiveness of investment to changes in capacity utilization is reduced, and through mechanisms that have clear and plausible behavioural underpinnings. It therefore becomes more likely (in principle) that the Keynesian stability condition will hold in practice. The paper also explores the consequences of such re-specification of investment behaviour for certain comparative static results associated with the canonical Kaleckian growth model.

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31

Zeyl, Trevor. "Charting the Wrong Course: The Doctrine of Legitimate Expectations in Investment Treaty Law." Alberta Law Review 49, no. 1 (July 1, 2011): 203. http://dx.doi.org/10.29173/alr131.

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The need to redefine the scope of the doctrine of legitimate expectations in investment treaty law is apparent. This article examines the domestic sources of the doctrine of legitimate expectations in order to evaluate whether investment treaty tribunals are justified in interpreting the doctrine of legitimate expectations to include substantive expectations. It concludes that recognizing substantive expectations as a part of the general principles of law is at this point premature and amounts to a misstatement of a general principle of law. There must be due consideration to the notion of deference as found in different domestic jurisdictions, including the doctrines of constraint found in common law.

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32

Jones, Howard, and Jose Vicente Martinez. "Institutional Investor Expectations, Manager Performance, and Fund Flows." Journal of Financial and Quantitative Analysis 52, no. 6 (November 2, 2017): 2755–77. http://dx.doi.org/10.1017/s0022109017000850.

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Using survey data, we analyze institutional investors’ expectations about the future performance of fund managers and the impact of those expectations on asset allocation decisions. We find that institutional investors allocate funds mainly on the basis of fund managers’ past performance and of investment consultants’ recommendations, but not because they extrapolate their expectations from these. This suggests that institutional investors base their investment decisions on the most defensible variables at their disposal and supports the existence of agency considerations in their decision making.

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33

Neumayer, Andreas. "There’s No Place Like Home: Investors’ Home Bias in Germany, 1898-1934." Jahrbuch für Wirtschaftsgeschichte / Economic History Yearbook 59, no. 2 (November 27, 2018): 447–69. http://dx.doi.org/10.1515/jbwg-2018-0015.

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Abstract This article studies investors’ expectations and investment decisions in regional stock exchanges in Germany from 1898 to 1934. Investments in stocks are particularly interesting, because research has identified a gap between model predictions of individual investment behaviour and actual investment behaviour. So far there is little information about individual investors or their characteristics in historical periods. To improve the interpretation of investors’ stock market behaviour, I look at investment behaviour and influences on that behaviour over time. I examine data on investors’ characteristics to understand local investment biases using data from regional stock exchanges in Germany from 1898-1934. The statistical analysis first indicates that local investment was clearly important during this period. Then, challenging these findings and analysing different sub-samples, it is suggested that investors’ home bias is potentially overestimated. Previous studies, which found evidence of local investment biases in Germany have presumably overestimated this effect.

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Miranda-Peralta, Jorge Marcelo, Leon Rivera-Mallma, and Wiliam Rodríguez-Giraldez. "Economic expectations and private investment decision for the Peruvian consumer sector 2010Q4-2020Q1: Preliminary analysis under COVID-19 scenario." Accounting 7, no. 6 (2021): 1491–98. http://dx.doi.org/10.5267/j.ac.2021.3.015.

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This work estimates the relationship between the economic expectations given by Tobin's q variables, terms of exchange and 3-month economic expectations with private gross investment for the period from the first quarter of 2010 to the first quarter of 2020, under the stress scenario of the COVID-19 pandemic. Through an econometric model, results were obtained such as that the variation in private gross investment VIBP has an inertial behavior with a coefficient of 0.258791, shadow cost of capital or q of Tobin QTC with a coefficient of -0.03213, as well as terms of TI exchange with a coefficient of 0.805618. This indicates that the private investment decision by the companies analyzed depends on factors such as economic expectations, the inertial effect of investment and the shadow cost of capital expressed in Tobin's q.

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Gjini, Altin, and Agim Kukeli. "Crowding-Out Effect Of Public Investment On Private Investment: An Empirical Investigation." Journal of Business & Economics Research (JBER) 10, no. 5 (April 30, 2012): 269. http://dx.doi.org/10.19030/jber.v10i5.6978.

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This studys principal objective is to analyze the behavior of private investments in market economies in the New Emerging Economies (transition economies) in Eastern Europe. The main objective is to investigate the effect of public investment on private investments. Borrowing from neoclassical economics authors one expects to see a crowding out effect of public investment on private investments. The literature is divided and mixed at best at answering the question of what is the role of public investment in private investments. Our preliminary results show that while it can be true that there is a crowding out effect on private investment from public investments in the West, this is not the case looking at the East. There is a vast discussion on the effect of public investment on private investment at the firm level as well as aggregated at the country level. Among other factors recognized for such a discussion like uncertainty, imperfect competition, effectiveness, cost of capital that can bust or hinder private investment under the normal course of the countrys economy this study looks at another angle. Western countries are diverse in terms of the size of government. The new emerging market economies on the East are struggling to get their economies to compete with western countries which have inherited better public institutions, infrastructure, and market conditions overall. A pool of selected countries, unbalanced panel data analysis, in Eastern European continent is examined over a period of time 1991-2009. The data are obtained from World Development Indicators (World Bank data base, 2010). Using pooled cross sectional analysis, the data confirm the structural break of private investment behavior between developing and developed countries. This is due to lack of market economy institutions, infrastructure, performance of the economy, and expectations.

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Luo, Juan, Yijing Zhang, Lu Yang, Wenyan Ma, and Muhammad Rehan Hasan. "EDUCATIONAL EXPECTATION, EDUCATIONAL INVESTMENT AND EDUCATIONAL PERFORMANCE OF MIGRANT CHILDREN -- FROM THE PERSPECTIVE OF EMOTIONAL BEHAVIOR CHANGE." International Journal of Neuropsychopharmacology 25, Supplement_1 (July 1, 2022): A42—A43. http://dx.doi.org/10.1093/ijnp/pyac032.058.

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Abstract Background Educational expectation has a certain impact on the educational performance of migrant children, which can be achieved through the establishment of expected objectives and educational investment of migrant children, so as to improve the educational performance of migrant children. The education quality of migrant children has many complex factors in both macro and micro aspects. Macroscopically, it is affected by factors such as education policy and social integration, and microscopically by schools and families. In addition, educational expectation is the expectation of parents or children for the future of education, which has an important impact on educational investment. At the same time, with the development of migrant children's education, the changes of children's related emotional behavior are also advancing. Subjects and Methods According to China Education follow-up survey (CEPs) (2014-2015), the subjects were migrant children who lived in the household for more than 6 months and under the age of 16. Based on fcsp-eip theory, this paper analyzes the relationship between educational expectation, investment and educational performance in four environments by constructing structural equation model and using Amos 22.0 statistical software. We also searched the databases of CBM, VIP, CNKI, Wanfang Data, PubMed, web of science and EBSCO based on the computer to collect relevant studies on the characteristics and changes of emotional behavior of older children. The retrieval time limit is from the establishment of the database to December 31, 2019. After two researchers independently screened the literature, extracted data, and evaluated the bias risk of the included study, the results of the included study were summarized by qualitative analysis. Results In the EIP structure, parents' educational expectations were significantly correlated with migrant children's educational performance, and educational investment as an intermediary had a significant impact on educational performance. After adding other environment related variables, it is found that education policy has a negative impact on children's educational performance; Community and school conditions have a positive impact on educational performance; Educational expectation is an important intermediary variable affecting educational performance. Children's anxiety, confrontation, attachment and other behaviors show three different patterns over time. The results of two children's emotional studies show that when parents' educational expectations are too high, children are easy to show negative emotions. Conclusion With the help of Chinese education tracking data and structural equation, this paper draws some conclusions. Through the parents' attention to the education of migrant children, the state strongly supports the education of migrant children, and provides good community and educational conditions to effectively improve the educational performance of migrant children. Firstly, the limitation of education policy is a negative variable that affects the educational expectation and performance of migrant children. At the same time, migrant children may also have unfair psychology, which will also have a negative impact on communication and psychological performance. Secondly, educational expectation is an important intermediary variable affecting educational performance. Parents' educational level and family economic status can help children choose high-quality educational resources, improve educational expectations, and then affect educational performance. Third, quality community and school conditions have a positive impact on educational expectations and performance. The higher the quality of the school, the higher the educational expectations of parents and children. Finally, the family structure dominated by one-child in China will also affect children's emotional changes, resulting in the inconsistency between parents and children's expectations for the future. More social support should be given to children's psychological and emotional changes. Acknowledgments Supported by a project grant from general project of national social science fund: Research on Theory, Path and Practice Model of Healthy China Construction (Grant No. 20BJY014) and from key research project of philosophy and social sciences of the ministry of education: Research on Management Innovation Mechanism of Megacities in the New Era (Grant No. 20JZD030).

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Sahoo, Aditya Prasad. "Investor’s Behavior and Mutual Fund - A Study in Cuttack City." ComFin Research 8, no. 4 (October 1, 2020): 18–22. http://dx.doi.org/10.34293/commerce.v8i4.3341.

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In the fastest-growing economy of India, the mutual fund industry puts an emerging footprint in economic growth and development. Mutual funds create a simple and viable path for saving and investment. The mutual fund includes various investment benefits like liquidity, timely return, fund diversification, widespread analysis monetary allocation vis-à-vis a full disclosure of fund management. There are various investment products available for investment in the financial market. However, all these investment products must be able to meet an investor’s expectations? Hence to know the investor’s perception and expectation, it is necessary to study the implications of mutual funds from a unique perspective. This paper explains how different factors are affecting an individual’s perception of mutual funds. As per the findings, individuals are more inclined to traditional investment than an investment in a mutual fund. Those who have invested in mutual funds, most of them were selected equity option and Systematic investment plan or SIP. Another finding is that investors don’t want to analyze the inherent risks associated with the investment and need their fund managers and broker’s advice.

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Dukoski, Stojan, Ljubisa Zlatevski, and Katerina Dukoska. "STOCKS AS AN INVESTMENT OPTION FOR THE INVESTMENT FUNDS." KNOWLEDGE INTERNATIONAL JOURNAL 30, no. 1 (March 20, 2019): 153–57. http://dx.doi.org/10.35120/kij3001153d.

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Financial innovations bring for the investors the new choices of investment but at the same time make the investment process and investment decisions more complicated, because even if the investors have a wide range of alternatives to invest they can‘t forgot the key rule in investments: invest only in what you really understand. Thus the investor must understand how investment funds differ from each other and only then to choose those which best match his/her expectations. The most important characteristics of investment funds on which bases the overall variety of investment vehicles can be assorted are the return on investment and the risk which is defined as the uncertainty about the actual return that will be earned on an investment. Each type of investment funds could be characterized by certain level of profitability and risk because of the specifics of these financial investments. Stocks are one of the favourite investments for the investment funds because of their effectieveness,but also because of they are higly liquid on average, bring income through dividends,offer diversification through sectors and every fund manager can find reasonably priced stocks with the required effort. Investment funds choose stocks because they are a very attractive investment that offers a lot of oportunities for the funds.The basic opportunity is that they are very flexible investment that offers ownership in the companies that the funds invests in. This gives the fund the oportunity to take participation in the annual shareholders meeting,but also to take board seats.It means that the fund can send representatives that can in turn affect the way the company manages its assets.A lot of companies are open to receive capital from the investment funds because as an investment vehicle they have a lot of liquidity to offer. Every investment fund is centered on the needs of the investors and tries to combine their individual opinions into one grand strategy.Usualy investment funds allow bigger investors to choose their investments and provide for them special portfolio options.This means that investors gain opportunity to have their own investment portfolio,which they can track for themselves and compare to the market index. Stocks are a big part of the investment portfolio of every investment fund.They sometimes respresent more than a half of the overall investments of the investment funds.The reason for this lays in their relative simplicity and the lots of ways the investor can profit from this securities.

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HESS, ANDREW. "FALLING AWAKE: DOES DESPERATION LEAD TO OPPORTUNITY?" International Journal of Innovation Management 22, no. 01 (January 2018): 1850001. http://dx.doi.org/10.1142/s1363919618500019.

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We argue that organisations that fall short of performance expectations are not only more likely, but also quicker to make investments in a radical new technology. To illuminate this process, what we call “falling awake,” we add a microfoundations dimension that highlights the key individuals that facilitate this process — highly visible knowledge workers. Empirically, we study the global pharmaceutical industry, where we investigate which firms are the first to make investments in biotechnology and the individuals within these firms that accelerate this investment using fine-grained performance, publishing, and patenting history data from 108 incumbent pharmaceutical firms over 34 years (1970–2003). Our findings suggest that firms adopt a more aggressive approach to investments in radical new technologies after falling short of performance expectations.

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Getz, Kenneth A. "Establishing Return-on-Investment Expectations for Patient-Centric Initiatives." Therapeutic Innovation & Regulatory Science 49, no. 5 (September 2015): 745–49. http://dx.doi.org/10.1177/2168479015579521.

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de Bondt, Gabe, and Marie Diron. "Investment, financing constraints and profit expectations: new macro evidence1." Applied Economics Letters 15, no. 8 (July 2, 2008): 577–81. http://dx.doi.org/10.1080/13504850600722088.

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Pandya, Abhijit P. G., and Andy Moody. "Legitimate Expectations in Investment Treaty Arbitration: An unclear future." Tilburg Law Review 15, no. 1 (October 31, 2010): 93–121. http://dx.doi.org/10.1163/22112596-90000007.

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Admati, Anat R., and Stephen A. Ross. "Measuring Investment Performance in a Rational Expectations Equilibrium Model." Journal of Business 58, no. 1 (January 1985): 1. http://dx.doi.org/10.1086/296280.

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Leonard, John, Joseph Prinzinger, and Fidelis Akagha. "An empirical investigation of Begg's rational expectations investment function." Atlantic Economic Journal 20, no. 4 (December 1992): 85. http://dx.doi.org/10.1007/bf02300093.

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KAROLAK, MARCIN. "SYSTEMS FOR IMPLEMENTING LINE INVESTMENTS IN POLAND." sj-economics scientific journal 31, no. 4 (December 30, 2018): 347–61. http://dx.doi.org/10.58246/sjeconomics.v31i4.74.

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The subject of this study is the description and analysis of the basic systems for the implementation of infrastructure investments. The analysis are carried out on the basis of investments carried out by the largest public investor in Poland, the General Directorate for National Roads and Motorways - GDDKiA. The description of individual investment implementation systems is described in detail, starting from the "Build" system through the "Design and Build" system, up to the indirect solution which was the "Optimize and Build" System. The author of this study indicates significant differences in the above-mentioned Investment implementation systems, describing the risk distribution between the participants of the investment process. In the summary of this study, the interpretation is be based on the assumptions about the impact of individual Systems on reducing the costs of investment implementation. There is a risk that by incorrect description of requirements indicated in PFU, restrictions referring to the optimization process, investments implemented in the "Design and Build" and "Optimize and Build" modes may not bring the intended expectations in the form of savings in investment implementation or bring much smaller rather than possible savings.

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Rodrigues, António, and Henrique O’Neill. "Framework Based on Benefits Management and Enterprise Architecture." Information Resources Management Journal 25, no. 2 (April 2012): 34–51. http://dx.doi.org/10.4018/irmj.2012040103.

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The relationship between Information Technology and Business has been growing, materialized through increasing investment in IT. This is typically considered a burden, as such companies have been seeking alternative supplying approaches like Outsourcing, Managed Services, or Cloud Computing. In this paper, the authors examine how investment is made and stress the balance that has to be reached between the expectations of the business versus the capabilities and cost of IT. A framework for assessing investments in IT that seeks to highlight the advantages of merging IT Benefits Management with an Enterprise Architecture is presented.

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Wellhausen, Rachel L. "International Investment Law and Foreign Direct Reinvestment." International Organization 73, no. 4 (2019): 839–58. http://dx.doi.org/10.1017/s0020818319000225.

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AbstractOne goal of the law is to provide a means to return disputing parties to cooperation. The prevailing expectation is that international investment law largely does not do this; rather, an aggrieved foreign investor sues the host state as a last resort and divests. I use a new database of Investor-State Dispute Settlement (ISDS) arbitrations and firm-level bilateral investment to show that, in fact, claimant investors reinvest in the host state at least 31 percent of the time (between 1990 and 2015). Among investors who file for arbitration, and controlling for sector, important correlates of reinvestment include the claimant's legal strategy; the extent of the claimant's grievance and success; and the incidence of post-arbitration litigation. Despite unique aspects of its institutional design, the de facto international investment regime can help solve host state time-inconsistency problems consistent with standard expectations of law. Whether the probability of reinvestment is high enough to reinforce host state commitments to this controversial regime is an open question.

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Milovanović, Dragan, and Nenad Marković. "Strategic decision making and influence of economic freedoms on foreign direct investment (FDI) in Bosnia and Herzegovina." Strategic Management, no. 00 (2022): 10. http://dx.doi.org/10.5937/straman2200011m.

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Decision making on foreign direct investment (FDI) is a strategic decision for the country, the company, but also the individual, which is strategic. Where to invest, how and when, certainly depends on economic conditions and economic freedoms. Foreign direct investments represent a value of 357 million euros in 2019, representing a significant factor in the overall development of Bosnia and Herzegovina (BiH). Expectations of an increase in the level of foreign investment are also based on the level of economic freedoms. The research results show a significant impact and positive correlation of economic freedoms on strategic decisions on foreign direct investment in Bosnia and Herzegovina. The role and importance of the impact of economic freedoms on strategic decisions on foreign direct investment became especially important in the conditions of the COVID 19 coronavirus pandemic, when strategic decisions were coupled with even greater risks and sensitivity. The COVID-19 pandemic affected foreign direct investment in the world and expectations regarding the trend of foreign direct investment in BiH. According to preliminary data from the Central Bank of BiH for the first half of 2020, FDI is lower by 46.7% compared to the same period in 2019. Foreign direct investment in less developed countries such as BiH will be under additional pressure in 2020/2021, due to the impact of the COVID 19 pandemic. The decline in global foreign direct investment in 2020 and 2021 is estimated at 30-40% as a result of the pandemic. The results of the research cover the period from 1998 to 2020, and show the existence of a positive correlation between these variables. The analysis used an econometric model of multiple correlation analysis Pearson Correlation.

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D. Cameron, Peter. "Stabilization Clauses: Do They Have a Future?" BCDR International Arbitration Review 7, Issue 1 (June 1, 2020): 109–32. http://dx.doi.org/10.54648/bcdr2021018.

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There are three pillars of legal stability in international oil and gas investments: stabilization clauses, expectations of a stable legal framework under an investment treaty and guarantees set out in the host state’s domestic legislation. The diverse and pervasive character of stabilization clauses in investment agreements makes them the most important in practice.This article reviews their resilience alongside the other two pillars and concludes that they retain significant advantages. Even in a wider context of policies favouring a lower carbon consumption in the energy sector, and consequent long-term change, such clauses are likely to remain a continuing feature of investment agreements as a legal response to investors’ needs for predictability in making long-term commitments.

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Kaplanski, Guy, Haim Levy, Chris Veld, and Yulia Veld-Merkoulova. "Do Happy People Make Optimistic Investors?" Journal of Financial and Quantitative Analysis 50, no. 1-2 (July 18, 2014): 145–68. http://dx.doi.org/10.1017/s0022109014000416.

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AbstractDo happy people predict future risk and return differently from unhappy people, or do individuals rely only on economic facts? We survey investors on their subjective sentiment-creating factors, return and risk expectations, and investment plans. We find that noneconomic factors systematically affect return and risk expectations, where the return effect is more profound. Investment plans are also affected by noneconomic factors. Sports results and general feelings significantly affect predictions. Sufferers from seasonal affective disorder have lower return expectations in the autumn than in other seasons, supporting the winter blues hypothesis.

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