Index
Contemporary Issues in Behavioral Finance
ISBN: 978-1-78769-882-6, eISBN: 978-1-78769-881-9
ISSN: 1569-3759
Publication date: 4 July 2019
This content is currently only available as a PDF
Citation
(2019), "Index", Grima, S., Özen, E., Boz, H., Spiteri, J. and Thalassinos, E. (Ed.) Contemporary Issues in Behavioral Finance (Contemporary Studies in Economic and Financial Analysis, Vol. 101), Emerald Publishing Limited, Leeds, pp. 283-291. https://doi.org/10.1108/S1569-375920190000101018
Publisher
:Emerald Publishing Limited
Copyright © 2019 Emerald Publishing Limited
INDEX
Aaker’s and Joachimstahler’s model of consumer brand equity
, 50–52
Adaptive Neuro-Fuzzy Inference System (ANFIS)
, 16, 21
visual prediction performance
, 22–24
Adjustment-anchoring
, 81
Advertising
, 56
Affinity propagation clustering
, 16
Ahi Unions
, 67
Akaike information criterion
, 167
Allais paradox
, 80
Alternative input–output orders for prediction
, 19–20
“Anchoring effect”
, 88, 90
Anderson and Darling test
, 267
ARCH LM test
, 39
Artificial intelligence
, 14
applications and evaluation
, 20–23
artificial intelligence-oriented approach for stock price prediction
, 15
economic data prediction
, 17–20
future research ideas
, 23–25
literature view
, 15–17
Artificial Neural Networks (ANNs)
, 18
Asian financial crisis
, 32–33
Association of British Insurers (ABI)
, 101, 245
Athens Stock Exchange, herd behavior in
, 180
Augmented Dickey–Fuller test (ADF test)
, 38
unit root test results
, 167
Augmented reality (AR)
, 54
application
, 57–58, 62
comparison of respondents’ attitudes
, 61
demographics
, 59
experiential field research on
, 60–64
frequencies of online information gathering and internet applications
, 60
literature review
, 55–58
online shopping frequencies of respondents
, 60
place and potential
, 54
purchasing behaviors of respondents
, 59–60
purpose and method of study
, 58–59
respondents’ attitudes toward brand trust and purchase intentions
, 60–62
technology
, 54–55
Augmented reality applications (AR applications)
, 157, 157
comments
, 160–161
comparison of respondents’ attitudes toward experiential marketing
, 159
findings and comments
, 159–160
importance, purpose, and method of research
, 157–158
method of research and hypotheses
, 158
Auto-enrolment
employer pension system
, 105
pension systems
, 103
plan
, 110
system
, 106–108
workplace schemes
, 106
Autoregressive Integrated Moving Average model (ARIMA model)
, 16
Autoregressive Model (ARM)
, 18
Aydin Fig Producers Company
, 68
Barlet test
, 194–195
Bartlett kernel
, 273
Bayes’ theorem
, 79
Bayesian Learning on Gaussian process model (BG)
, 18
Bayesian learning theory
, 79
Behavior(al)
biases
, (see also Cognitive biases), 84, 86, 112, 246
control
, 7–8
dimension of economics
, 216
economics
, 205–206
in financial services
, 103–104
influences
, 100–102
intentions
, 49
obstacles to proper planning
, 105–116
Behavioral economy analysis
, 205
data and methodology
, 208–209
empirical results
, 209–212
literature review
, 206–208
Behavioral finance
, 78, 80, 103, 105, 116, 216–217, 219, 247
acknowledges emotional
, 101
anchoring
, 83
avoidance of ambiguity
, 82–83
cognitive contradiction
, 83
conservatism
, 81
framing
, 82
herding
, 83–84
literature
, 81
loss aversion
, 84
mental accounting
, 82
optimism
, 83
overconfidence
, 82
regret avoidance
, 84
representativeness
, 82
status quo biases
, 83
theories and research
, 104
Behavioral obstacles
, 105
amounts available for saving of average Maltese households
, 108
behavioral finance
, 116
choice-overload
, 114
comparison tables
, 120–138
employees participating in workplace pensions
, 106
indicators used to calculate MMGPI
, 107
people’s behavior
, 112
portfolio options
, 113–114
PRIIPs
, 113
Save for Tomorrow−
, 109–110
SRA
, 111
BIST Whole Index, herd behavior on
, 181–183
Brand trust
within context of experiential marketing
, 55–57
respondents’ attitudes toward
, 60–62
Brand(ing)
, 46–47
ability
, 56
associations
, 51–52
awareness
, 51–52
brand-as a person
, 50
brand-as product
, 50
brand-as-organization
, 50
brand-as-symbol
, 50
equity measurement and application of models
, 46, 51
identity
, 48, 50
image and reputation in
, 48–49
information
, 56
loyalty
, 51
relational network brand
, 47
reputation
, 56
systematic analysis
, 51
Bretton Woods fixed exchange rate system
, 164
Cash and cashless payments in Poland
literature review
, 140–143
no possibility of cashless payment
, 145–150
number and value of payments in Euro area
, 142
research method and results of primary research
, 143–145
Cashless Payment Support Program
, 146
Central Bank of Republic of Turkey
, 165–166
Chartered Institute of Personnel and Development (CIPD)
, 110
Chinese stock index
, 16
Chinese stock markets, herd behavior in
, 179
Co-integration regression
, (see also Panel Johansen co-integration test), 269–274
Cognitive biases
, 80–81
anchoring
, 83
avoidance of ambiguity
, 82–83
cognitive contradiction
, 83
conservatism
, 81
framing
, 82
herding
, 83–84
loss aversion
, 84
mental accounting
, 82
optimism
, 83
overconfidence
, 82
regret avoidance
, 84
representativeness
, 82
status quo biases
, 83
Compensation-based herd behavior
, 222
Consumer control
, 6
as coping strategies against risks
, 8–9
Consumer Financial Protection Bureau
, 116
Consumers
, 140–141, 146–147
Aaker’s and Joachimstahler’s model of consumer brand equity
, 50–52
cash and cashless payments constitute
, 140
risk in consumer behavior
, 2–4
trust
, 6
Contactless cards
, 141
“Control of Corruption” indicator
, 262
and SM performance
, 266, 274
Cooperative(s)
, 66
historical dynamics of cooperatives in Turkey
, 67–68
model
, 67
movement
, 68
“tedavün”
, 67
Cooperatives Act
, 68
Crypto-currencies
, 25
Customer
experiences
, 56
participation in production
, 8
DCC-GARCH method
, 33
Department for Work & Pensions (DWP)
, 105–106, 110, 116
Diagonal BEKK model
, 37
conditional correlation from
, 41
Dynamic Boltzmann Machine (DyBM)
, 18
East Asia and Pacific
, 262, 269
WGIs and stock market activity in
, 269
Echo state network (ESN)
, 16
Economic data prediction
, 17, 19
alternative input–output orders for prediction
, 19–20
machine learning
, 17–18
techniques for prediction applications
, 18–19
time series prediction
, 17–18
Efficient market hypothesis
, 79, 100, 216–217, 220
semi-strong form market efficiency
, 218
strong form market efficiency
, 218–219
weak form market efficiency
, 217–218
EGARCH models
, 31
Ellsberg paradox
, 80
Emotional/emotions
, 98
attachment
, 46
bonds
, 46
tendency
, 81
Employment
growth
, 71
level
, 79
policy
, 66
policy tool
, 70–74
rates
, 66
Enterprise Survey of World Bank
, 266
Europe and Central Asia
, 262, 269
WGIs and stock market activity in
, 270
European Central Bank (ECB)
, 142
Exchange rate
, 163–165
change in
, 163
data and research method
, 166–167
effect
, 165
empirical analysis and results
, 167–168
literature
, 165–166
in Turkey
, 164
Expectancy-value theory
, 49
Expected utility theory
, 79
Experiential marketing
, 54–55, 155–158, 160
brand trust and purchase intention within context of
, 55–57
comparison of respondents’ attitudes toward
, 159
Financial crisis (2008)
, 229
Financial literacy
, 78, 102, 235–236
behavioral finance and cognitive biases
, 80–84
criticism of traditional finance models
, 79–80
findings and comment
, 87–92
literature review
, 84–87
methodology
, 87
properties of sampling group
, 88
purpose and method of research
, 87
traditional behavioral models in finance
, 79
Financial markets
instruments
, 220
purchasing decision and herd behavior in
, 223–224
Financial Times Stock Exchange 100 (FTSE 100)
, 31
Financial/finance
behavior in financial services
, 103–104
customers
, 87
development
, 30
education plan
, 110
institution employees
, 87
instrument
, 83
investments
, 84
knowledge
, 148
risk
, 4, 223–224
students
, 87
traditional behavioral models in
, 79
Firefly Algorithm (FA)
, 16
Framing
, 82
bias
, 90
Fringe Benefits Rules
, 247
Fund managers
, 177, 222
“Games-Howell” post hoc test
, 91
“Government Effectiveness” indicator
, 262
and SM performance
, 264, 273
Government Governance Indicators (GGIs)
, 266
Johansen co-integration test for
, 268
Granger causality test
, 36, 166–167
Gross domestic product (GDP)
, 264
market capitalization as percentage of
, 268
Herd behavior
, 172, 216–217, 219
on BIST Whole Index
, 181–183
fake/false
, 174, 220
in financial markets
, 223–224
in Hong Kong
, 179
in Japan
, 179
in Shanghai Indices
, 179
in Shenzhen Indices
, 179
in Taiwan
, 179–180
in United States
, 179
intentional
, 174
irrational
, 222–223
literature review
, 178–181
rational
, 220–222
result of regression analysis
, 181
spurious
, 174
and types
, 173–181
Herd intelligence
, 172
Herd psychology
, 216
Herding
, 83–84, 172
behavior
, 85, 86
psychology bias
, 90
Heuristics
, 81, 223
Hidden Markov Model (HMM)
, 16
Human behavior
, 81
Human psychology
, 80
Hyperbolic Discounting
, 108
Identity–Behavior–Image model
, 48
Illusion of Control Theory
, 8
Image in branding
, 48–49
“Imece” (Turkish collaborative work)
, 67
Income Tax Act (1949)
, 248
Individual
consumers
, 245
investors
, 78, 83
net worth
, 102
wealth
, 79
Industrialization
, 66
Informatics community
, 14
Information
content of WGIs
, 275
information-based herd behavior
, 175, 221
waterfall
, 221
Information technology
applications
, 54
developments in
, 157
Intelligent systems
, 14, 25
International Year of Cooperatives by United Nations General Assembly
, 68
Internet banking
, 188
analysis
, 191
demographic characteristics of bank customers
, 192
determination of factors affecting internet banking preferences
, 194
factors affecting
, 189
homogeneity and ANOVA test results
, 199–200
independent two-sample t-test for gender
, 197
literature review
, 188–190
method
, 191
participants’ preferences of branch, ATM, and
, 193
results
, 191
results of KMO and Bartlett’s test
, 195
rotated factor matrix
, 196
two independent sample t-tests according to marital status
, 198
Intertemporal behavior
, 98
Investor Compensation Scheme
, 248
Investors
, 81
behaviors
, 86
buying behavior
, 224
perception of financial risk
, 223–224
stock pricing behavior
, 85
Irish Association of Pension Funds
, 114–115
ISE, herd behavior in
, 180
Isolation effect phenomenon
, 207, 210–211
Istanbul Stock Exchange (BIST)
, 16, 173
Istanbul Stock Exchange 100 index (BIST100 index)
, 30, 35, 38–39
Izmir Economics Congress
, 68
Jarque-Bera test statistic
, 38
Johansen Cointegration test
, 168
K-nearest neighbor algorithm (K-NN)
, 18
Kaiser–Meyer–Olkin tests (KMO tests)
, 194–195
Karachi stock exchange (KSE)
, 264
KEİ;G–women’s labor and employment initiative
, 73
Kinship of destination
, 46
Knowledge-based behavior
, 84
herd behavior
, 175
Kooperatif
, 67
Kurtosis values
, 38
Lagrange multiplier (LM)
, 36
Latin America and Caribbean countries
, 262, 269
WGIs and stock market activity in
, 270
Leverage effect
, 34
Libertarian Paternalism
, 109
Ljung-Box Q-statistics
, 40
Loss aversion
, 84
bias
, 88, 90
Machine learning
, 14–15, 17–18
of Artificial Intelligence
, 24–25
time series prediction approach
, 18
training phases
, 22
Maestro and Visa Electron (1996)
, 141
Malta, retirement planning in
, 104
Market
analysts
, 84
capitalization as percentage of GDP
, 266, 268
makers
, 174
participants
, 220–221
Market efficiency
, 172
semi-strong form
, 218
strong form
, 218–219
weak form
, 217–218
Marketing communication
, 154–158, 160
Marmara earthquake (1999)
, 69
Melbourne Mercer Global Pension Index (MMGPI)
, 100, 107
Mental accounting
, 82, 90
behavior
, 85–86
Mental distress
, 99
Mercer Melbourne Global Pension Index (2015)
, 101
Middle East and North Africa
, 262, 269
WGIs and stock market activity in
, 271
Ministry for Family and Social Solidarity (MFSS)
, 103, 229
Mobile
application
, 157–158, 160
banking
, 190
payment
, 143
Mood marketing
, 46
Morgan Stanley Capital International European stock index (MSCI stock index)
, 34, 264
Multidimensional Poverty Index (MPI)
, 237
Multipurpose women’s cooperatives
, 69
NASDAQ stock market index
, 16
National Cooperative Strategy and Action Plan (NCSAP)
, 69–70
Neo classical economics
, 80
Nested K-nearest neighbor regression
, 16
New York Stock Exchange (NYSE)
, 16
Newey–West standard errors
, 273
Nigeria, Indonesia, Mexico, Philippines, and Turkey (NIMPT)
, 34
Nigeria Stock Exchange (NSE)
, 16
Nigerian stock exchange
, 84
Nikkei 225 opening index
, 16, 31
Non-cash
payments
, 141, 148
transactions
, 141
North America
, 262, 269
WGIs and stock market activity in
, 271
NSO’s 2008 Household Budgetary Survey
, 109
“Nudge 2.0” concept
, 248
Nudge Unit
, (see Behavioural Insights Team)
“1/n Rule”
, 114–115
Organisation for Economic Co-operation and Development (OECD)
, 66, 106
Overconfidence
, 82, 88, 90
bias
, 207
investors
, 84
prejudice
, 223
“Overoptimism” biases
, 88, 90
Pacific Rim countries
, 264
Packaged Retail and Insurance-based Investment Products Regulation (PRIIPs)
, 113
Panel Johansen co-integration test
, 267–269
Payment card
, 143
transactions
, 141
Payments
, 140–141
Pensions Act (2008)
, 105
Perceived risk
, 2–3
as multi-dimensional concept
, 4–5
Personal pensions
, 107
plan
, 237
Phillips and Perron test (PP test)
, 38–39
“Political Stability and no Violence” indicator
, 262
and SM performance
, 263–264, 273
Prediction
, (see also Economic data prediction), 14
alternative input–output orders for
, 19–20
applications
, 15–16
time series
, 15, 17–18, 20–21, 25
visual prediction performance
, 22–24
Preferences of Bank customers
, 188
Psychological
biases
, 88, 90, 91
factors
, 78, 80
risk
, 4
Purchase intention
within context of experiential marketing
, 55–57
respondents’ attitudes toward
, 60–62
Rational herd behavior
, 175, 220
compensation based on herding
, 176–177
compensation-based herd behavior
, 222
information-based herd behavior
, 221
informational cascade
, 175–176
market participants
, 220–221
reputation based on herding
, 177–178
reputation-based herd behavior
, 222
Rational market behavior
, 101
Regression Equation Specification Error Test (RESET)
, 267
“Regulatory Quality” indicator
, 262
and SM performance
, 265, 273–274
Representativeness
, 81–82
bias
, 85, 88, 90
Reputation
, 177
as awareness, assessment, asset
, 49
based on herding
, 177–178
in branding
, 48
reputation-based herd behavior
, 222
Retirement Optimism Index
, 111
Retirement planning
, 97, 228–229
application of findings to local market
, 244
behavior in financial services
, 103–104
behavioral influences
, 100–102
behavioral obstacles to proper planning
, 105–116
European countries comparison tables
, 120–138
European data
, 99–100
expectation
, 229–230
financial literacy
, 235–236
financial situation
, 234–235
findings
, 234, 240–241
interviews
, 240–241
limitations
, 233–234, 241–242
in Malta
, 104
means of saving toward retirement
, 238–240
median age of total European population
, 98
methodology
, 230–233
online survey
, 251–259
projected old-age dependency ratio based on total expected population
, 99
retirement outlook
, 236–237
scope of study
, 100
significance of study
, 102–103
Retirement savings
, 237–238
Risk
, 2, 6, 8
in consumer behavior
, 2–4
control as coping strategies against
, 8–9
perceived risk as multi-dimensional concept
, 4–5
perception
, 4
reduction strategies
, 5–6
risk-aversion behavior
, 86
risk-reward concept
, 229
risk-taking behaviors
, 86
risk-taking theory
, 6
risk-tolerance
, 230
“Rule of Law” indicator
, 262
and SM performance
, 267, 274
Sarbanes Oxley Act (SOA)
, 265
Save for Tomorrow−
, 109–110
“Sensorama”
, 157
Shanghai stock market index
, 16
SIGGRAPH event
, 57
Social
biases
, 234
cycle effect
, 197
inclusion
, 71
influences
, 112
interaction
, 178
movements
, 71
risk
, 4
sex-based division of labor
, 66
Social Security Act (1987)
, 102
South Asia
, 262, 269
WGIs and stock market activity in
, 272
South Korea, herd behavior in
, 179
Standard and Poor’s 500 index (S&P500 index)
, 30–31, 35, 38–39
Stock market performance (SM performance)
, 266
components of discriminant government governance models for monitoring
, 276–277
relationship with control of corruption
, 266
relationship with government effectiveness
, 264
relationship with political stability
, 263–264
relationship with regulatory quality
, 265
relationship with rule of law
, 265
relationship with voice and accountability
, 263
Stock markets
, 262
development
, 278
sentiment
, 263
Sub-Saharan Africa
, 262, 269
WGIs and stock market activity in
, 272
Sustainable development
, 66, 71
Sustainable development goals (SDG)
, 67
TAIE X closing index
, 16
Takagi–Sugeno–Kang Fuzzy Logic system
, 15
Terrorism attack effect on stock indices
, 264
Theory of the Leisure Class, The
, 173
Traditional behavioral models in finance
, 79
Traditional economics
, 205
theories
, 100
Traditional finance
, 79
criticism
, 79–80
models
, 78
Tunisian Stock Exchange
, 87–88
Turkey
, 66
fixed exchange rate regime in
, 164
historical dynamics of cooperatives in
, 67–68
Statistical Institute data
, 66
sustainable economic development
, 69
Turkish stock market
, 34
women’s cooperatives course in
, 68–70
Turkish Cooperatives Strategy and Action Plan (2012–2016)
, 68
Typeform©; tool
, 230
United Kingdom stock market indices (UK stock market indices)
, 31
United States Stock Exchange
, 30
Urla Women’s Initiative Production and Operation Cooperative
, 73–74
VAR-GARCH method
, 32, 34
Vector Error Correction Model (VECM)
, 168
VECM–based Granger causality test results
, 168
Visa International and MasterCard (1960)
, 140–141
“Voice and Accountability” indicator
, 262, 278
and SM performance
, 263, 273
Volatility diffusion index
, 33
Volatility spillover
, 30
effect of Asia’s five EMs
, 33
conditional correlation from diagonal BEKK model
, 41
correlation between return series
, 38
data
, 35
descriptive statistics
, 38
effects
, 37
methodology
, 35–37
price and return series
, 35
residual diagnostics
, 41
return and
, 33
review of literature
, 31–34
test
, 31
Who Wants to be a Millionaire TV show
, 206, 208
Women Effort Evaluation Foundation (KEDV)
, 70
Women’s cooperatives
, 66
course in Turkey
, 68–70
historical dynamics of cooperatives in Turkey
, 67–68
as tool of employment policy
, 70–74
Women’s Cooperatives Communication Network
, 69
Workplace automatic-enrolment systems
, 107
World Governance Indicators (WGIs)
, 262
co-integration regression
, 269–274
data and variables
, 266–267
dimensions
, 262
methodology
, 267–268
model
, 266
robustness test using discriminant analysis
, 274–275
and stock market performance
, 262–266
Z-score model
, 274–278
- Prelims
- Chapter 1 Risk and Control in Consumer Behavior: A Discussion
- Chapter 2 Using Artificial Intelligence Techniques for Economic Time Series Prediction
- Chapter 3 Volatility Spillovers between BIST100 Index and S&P500 Index
- Chapter 4 Brand Reputation and Its Influence on Consumers’ Behavior
- Chapter 5 An Investigation of Augmented Reality Applications from the Perspectives of Brand Trust and Purchase Intentions of Customers
- Chapter 6 Women’s Cooperatives as a Tool of Employment Policy in Turkey
- Chapter 7 The Impact of Financial Literacy on Cognitive Biases of Individual Investors
- Chapter 8 Retirement Planning: A Literature Review
- Chapter 9 A Comparative Survey Over Time between Cash and Cashless Payments in Poland
- Chapter 10 Marketing Communications and Experiential Marketing in the Context of Augmented Reality
- Chapter 11 Exports, Imports, and the Exchange Rate: A Causality Analysis for Turkey (2004–2017)
- Chapter 12 Herd Behavior in the Borsa Istanbul
- Chapter 13 Factors Affecting Internet Banking Preferences and Their Relation to Demographic Characteristics
- Chapter 14 Who Wants to be a Millionaire? A Behavioral Economy Analysis
- Chapter 15 Herd Behavior and Its Effects on the Purchasing Behavior of Investors
- Chapter 16 Retirement Planning by Maltese Nationals: A Study of Influential Factors
- Chapter 17 How Does Governance Help World Stock Market Development?
- Index