Economía, Psicología e Inversión en Bolsa: análisis de las variables que participan en el proceso de toma de decisiones
30 Jun 2012-International journal of psychological research (Universidad de San Buenaventura)-Vol. 5, Iss: 1, pp 5-17
TL;DR: In this paper, the ININBE questionnaire has been validated in order to measure the variables that affect individual investor behavior in stock exchange and the authors have found interesting results about the relationship between the "psychological" and "economical" variables with individual investor's characteristics.
Abstract: The ININBE questionnaire has been recently validated in order to measure the variables that affect individual investor behavior in stock exchange. The lack of information about the methodology, items selection and psychometric properties of the instruments used in other researches has shown the necessary to elaborate and validate a questionnaire. In the present work we have applied the ININBE questionnaire to 257 individual investors. We have found interesting results about the relationship between the “psychological” and “economical” variables with individual investor’s characteristics.
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TL;DR: In this article, the relationship between multicultural ideology and prejudice, support for social policies, and motivation for social change was analyzed, using different measures, in three studies conducted in Spain and Canada.
Abstract: Multicultural ideology proposes that group memberships should be not just acknowledged but also valued in order to accommodate diversity and attain equality. In three studies conducted in Spain and Canada we analyzed, using different measures, the relationship between multicultural ideology on the one hand and prejudice, support for social policies, and motivation for social change on the other hand. In Spain we focused on responses to Gitanos (Spanish Roma) and, in Canada, on First Nations people. Results showed that multicultural ideology was related in both cases to lower prejudice and higher support for social policies to support the minority group and motivation for social change. The internal motivation to control prejudice was an important mediator of this relationship in both countries. In contrast, the way in which social identities are represented played a different role as a function of country: whereas a dual identity representation played a mediating role in Canada, a common identity representation was the mediator in Spain. These results support the importance of valuing cultural diversity to harmonize intergroup relations and to reduce inequalities between majorities and minority groups.
26 citations
TL;DR: Changing perceived intergroup similarity might be a way of improving the quality of contact with minority groups, and this would be expected to increase pro-social behaviour towards such groups.
Abstract: This research aimed to analyse interpersonal behaviour towards immigrants by exploring related psychosocial variables such as intergroup similarity and quality of intergroup contact. A new interpersonal behavioural tendencies scale was developed. In Study 1, Spanish participants reported their willingness to take different actions towards a Moroccan (i.e. a devalued target, n = 132) or an Ecuadorian (i.e. a valued target, n = 138), perceived intergroup similarity and quality of intergroup contact. Multigroup confirmatory factor analysis identified the expected dimensions: active facilitation (AF), passive facilitation (PF), passive harm (PH) and active harm (AH). Participants reported less similarity, less pleasant contact, less AF and less PF, and more PH with respect to Moroccans relative to Ecuadorians. Quality of contact mediated the effect of perceived similarity on interpersonal behaviour (especially facilitative behaviour) towards immigrants. Study 2 (N = 134) confirmed that this mediation effect also applied to Romanian immigrants, and tested a serial mediation pathway, in which perceived similarity affected symbolic threat, which in turn affected quality of contact, which finally affected behaviour. Changing perceived intergroup similarity might be a way of improving the quality of contact with minority groups, and this would be expected to increase pro-social behaviour towards such groups.
17 citations
TL;DR: In this article, the authors propose a new AFI format: a one-page report that is short and easy to understand, as a complement to the long and complex traditional format in order to increase the usefulness of information for investors and to decrease investment risk.
Abstract: According to the literature, individual investors rarely use accounting and financial information (AFI), even though they do not give it a particularly low valuation when asked. This behavior increases the risk to lose investments. The main contribution of this paper is to propose a new AFI format: a one-page report that is short and easy to understand, as a complement to the long and complex traditional format in order to increase the usefulness of information for investors and to decrease investment risk. Two experiments provide evidence about the increased usefulness of AFI when using the new proposed format. More importantly, it seems that results in terms of profits also improve considerably in medium (one year) and long-term (four years) investments, in contrast to more modest profits of speculative investments. Furthermore, this difference occurs regardless of the investors’ previous experience.
5 citations
TL;DR: Gender-based effectiveness of the parental intervention of the Suspertu prevention program for adolescents with risk behaviors in Spain improved parents' authoritative parenting style, decreasing the degree of parental stress and reducing parent's psychopathological symptoms and maladjustment.
Abstract: The goals of this study were to evaluate the gender-based effectiveness of the parental intervention of the Suspertu ("recovery" in English) prevention program for adolescents with risk behaviors in Spain. The sample included 229 parents (105 fathers and 124 mothers). One open-label trial with repeated measures was used. Parents received a family therapy and a group education. The intervention improved parents' authoritative parenting style, decreasing the degree of parental stress and reducing parent's psychopathological symptoms and maladjustment. Improvement in both groups (fathers and mothers) was mainly observed from pre- to post-intervention assessment. According to the results, prevention programs for adolescents with risk behaviors may be a suitable context both to teach parents to deal appropriately with their children's risk behaviors, and to improve parent's psychological state.
1 citations
References
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TL;DR: Ajzen, 1985, 1987, this article reviewed the theory of planned behavior and some unresolved issues and concluded that the theory is well supported by empirical evidence and that intention to perform behaviors of different kinds can be predicted with high accuracy from attitudes toward the behavior, subjective norms, and perceived behavioral control; and these intentions, together with perceptions of behavioral control, account for considerable variance in actual behavior.
Abstract: Research dealing with various aspects of* the theory of planned behavior (Ajzen, 1985, 1987) is reviewed, and some unresolved issues are discussed. In broad terms, the theory is found to be well supported by empirical evidence. Intentions to perform behaviors of different kinds can be predicted with high accuracy from attitudes toward the behavior, subjective norms, and perceived behavioral control; and these intentions, together with perceptions of behavioral control, account for considerable variance in actual behavior. Attitudes, subjective norms, and perceived behavioral control are shown to be related to appropriate sets of salient behavioral, normative, and control beliefs about the behavior, but the exact nature of these relations is still uncertain. Expectancy— value formulations are found to be only partly successful in dealing with these relations. Optimal rescaling of expectancy and value measures is offered as a means of dealing with measurement limitations. Finally, inclusion of past behavior in the prediction equation is shown to provide a means of testing the theory*s sufficiency, another issue that remains unresolved. The limited available evidence concerning this question shows that the theory is predicting behavior quite well in comparison to the ceiling imposed by behavioral reliability. © 1991 Academic Press. Inc.
65,095 citations
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01 Jan 1944
TL;DR: Theory of games and economic behavior as mentioned in this paper is the classic work upon which modern-day game theory is based, and it has been widely used to analyze a host of real-world phenomena from arms races to optimal policy choices of presidential candidates, from vaccination policy to major league baseball salary negotiations.
Abstract: This is the classic work upon which modern-day game theory is based. What began more than sixty years ago as a modest proposal that a mathematician and an economist write a short paper together blossomed, in 1944, when Princeton University Press published "Theory of Games and Economic Behavior." In it, John von Neumann and Oskar Morgenstern conceived a groundbreaking mathematical theory of economic and social organization, based on a theory of games of strategy. Not only would this revolutionize economics, but the entirely new field of scientific inquiry it yielded--game theory--has since been widely used to analyze a host of real-world phenomena from arms races to optimal policy choices of presidential candidates, from vaccination policy to major league baseball salary negotiations. And it is today established throughout both the social sciences and a wide range of other sciences.
19,337 citations
TL;DR: In this article, the authors defined asset classes technology sector stocks will diminish as the construction of the portfolio, and the construction diversification among the, same level of assets, which is right for instance among the assets.
Abstract: So it is equal to the group of portfolio will be sure. See dealing with the standard deviations. See dealing with terminal wealth investment universe. Investors are rational and return at the point. Technology fund and standard deviation of investments you. Your holding periods of time and as diversification depends. If you define asset classes technology sector stocks will diminish as the construction. I know i've left the effect. If the research studies on large cap. One or securities of risk minimize more transaction. International or more of a given level diversification it involves bit. This is used the magnitude of how to reduce stress and do change over. At an investment goals if you adjust for some cases the group. The construction diversification among the, same level. Over diversification portfolio those factors include risk. It is right for instance among the assets which implies.
6,323 citations
TL;DR: This article found that manipulation of argument quality had a greater impact on attitudes under high than low involvement, but the manipulation of product endorser had a higher impact under low than high involvement.
Abstract: Undergraduates expressed their attitudes about a product after being exposed to a magazine ad under conditions of either high or low product involvement. The ad contained either strong or weak arguments for the product and featured either prominent sports celebrities or average citizens as endorsers. The manipulation of argument quality had a greater impact on attitudes under high than low involvement, but the manipulation of product endorser had a greater impact under low than high involvement. These results are consistent with the view that there are two relatively distinct routes to persuasion.
4,372 citations
TL;DR: In this article, the authors evaluate the out-of-sample performance of the sample-based mean-variance model, and its extensions designed to reduce estimation error, relative to the naive 1-N portfolio.
Abstract: We evaluate the out-of-sample performance of the sample-based mean-variance model, and its extensions designed to reduce estimation error, relative to the naive 1-N portfolio. Of the 14 models we evaluate across seven empirical datasets, none is consistently better than the 1-N rule in terms of Sharpe ratio, certainty-equivalent return, or turnover, which indicates that, out of sample, the gain from optimal diversification is more than offset by estimation error. Based on parameters calibrated to the US equity market, our analytical results and simulations show that the estimation window needed for the sample-based mean-variance strategy and its extensions to outperform the 1-N benchmark is around 3000 months for a portfolio with 25 assets and about 6000 months for a portfolio with 50 assets. This suggests that there are still many "miles to go" before the gains promised by optimal portfolio choice can actually be realized out of sample. The Author 2007. Published by Oxford University Press on behalf of The Society for Financial Studies. All rights reserved. For Permissions, please email: journals.permissions@oxfordjournals.org, Oxford University Press.
2,809 citations