Faculty & Research

Behavioural Finance Working Group Conference: Behavioural Perspectives on the Financial Crisis

Behavioural Perspectives on the Financial Crisis

10th-11th December 2009

Behavioural Finance Working Group
Cass Business School
London, UK

Keynote Speaker

Werner DeBondt, DePaul University, Chicago, USA

Organisers

William Forbes, Paul Hamalainen and Gulnur Muradoglu.

Special Issue

Qualitative Research in Financial Markets

Edited by William Forbes, Paul Hamalainen and Gulnur Muradoglu.

Venue

Cass Business School
106 Bunhill Row
London
EC1Y 8TZ
UK

Programme

Papers

10th December

Session 1
9.00-10.30

"Emotional Corporate Finance"
Richard Fairchild (University of Bath, School of Management)

Discussant: Qingwei Wang (Centre for European Economic Research)

"Behaviour and Investment Actions within Fund Managers and their Markets: A Grounded Theory of Fund Management"
John Holland (University of Glasgow)

Discussant: Richard Fairchild (University of Bath, School of Management)

"Sentiment, Convergence of Opinion, and Market Crash"
Qingwei Wang (Centre for European Economic Research)

Discussant: John Holland (University of Glasgow)

Session 2
11.00-12.30

"The Role of the Interaction Between Information and Behavioral Bias in Explaining Herding"
Eleuterio Vallelado, Beatriz Fernandez, Teresa Garcia-Merino, Rosa Mayoral and Valle Santos (University of Valladolid)

Discussant: William Forbes (Loughborough University Business School)

"The effects of External shocks on Housing policy, Housing market volatility and the National Defined-Contribution Pension Scheme: Evidence from Singapore"
Kai Hong Tee (Business School, Loughborough University) and Michael White (School of the Built Environment, Heriot-Watt University)

Discussant: Paul Hamalainen (Essex Business School)

"Hedge Funds as Phantastic Objects"
Richard Taffler and Arman Eshraghi (University of Edinburgh Business School)

Discussant: Gulnur Muradoglu (Cass Business School)

Session 3
13.30-15.00

"Stories Matter: the Effect of News in a Laboratory Asset Market"
Sudeep Ghosh (Hong Kong Polytechnic University) and Tom Vinaimont (City University of Hong Kong)

Discussant: Krzysztof Kontek (Artal Invesments)

"Dark Omens in the Sky: Do Superstitious Beliefs Affect Investment Decisions?"
Gabriele Lepori (Copenhagen Business School)

Discussant: Sudeep Ghosh (Hong Kong Polytechnic University)

"Absolute vs. Relative Notion of Wealth Changes"
Krzysztof Kontek (Artal Invesments)

Discussant: Gabriele Lepori (Copenhagen Business School)

Session 4
15.30-17.00

"A Historical Perspective on the International Evidence for Long-Term Reversals"
Steven Jordan (Graduate School of Finance, Korea Advanced Institute of Science and Technology)

Discussant: Eleuterio Vallelado (University of Valladolid)

"Overconfidence, Hindsight Bias and Trading Activity in an Experimental Asset Market"
Brian Kluger (University of Cincinnati) and Patricia Chelley-Steeley & Jim Steeley (Aston Business School)

Discussant: Steven Jordan (Graduate School of Finance, Korea Advanced Institute of Science and Technology)

"Addressing the Psychology of Financial Markets"
David Tuckett (UCL)

Discussant: Brian Kluger (University of Cincinnati)

11th December

Session One
9.00-10.30

"Investors overconfidence: A survey on the Tunisian Stock Market"
Salma Zaiane and Ezzeddine Abaoub (Tunis El Manar University)

Discussant: Richard Taffler (Edinburgh University Business School)

"A narrative approach to sense-making in financial markets: the case of the Istanbul Stock Exchange"
Emre Tarim (University of Edinburgh)

Discussant: Richard Taffler (Edinburgh University Business School)

"Optimism and Portfolio Choice"

Jiayi Balasuriya, Gulnur Muradoglu (Cass Business School) and Peter Ayton (City University London)

Discussant: Richard Taffler (Edinburgh University Business School)

Session Two
11.00-12.00

"Did the behaviour of central banks make the credit crisis inevitable?"
Stuart Trow (The European Bank for Reconstruction and Development)

Discussant: William Forbes (Loughborough University Business School)

"The UK Crisis of 2008: What is Real and What is Behavioural?"

Gulnur Muradoglu (Cass Business School)

Discussant: Stuart Trow (The European Bank for Reconstruction and Development)