Ditapis dengan
Greening" the marketing mix: do firms do it and does it pay off?
Growing concern about the sustainability of the natural environment is rapidly transforming the competitive landscape and forcing companies to explore the costs and benefits of "greening" their marketing mix. We develop and test a theoretical model that predicts (1) the role of green marketing programs in influencing firm performance, (2) the impact of slack resources and top management risk av…
- Edisi
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- ISBN/ISSN
- 920703
- Deskripsi Fisik
- pp. 151-170
- Judul Seri
- -
- No. Panggil
- JAMS4102
Pengaruh Gender terhadap Risk Aversion dan Strategic Risk-Taking pada Eksekut…
Penelitian ini bertujuan untuk menganalisis pengaruh perbedaan gender dalam eksekutif perusahaan terhadap risk aversion dan strategic risk-taking serta melihat apakah risk aversion eksekutif dapat mempengaruhi strategic risk-taking. Data diambil dari 100 eksekutif dengan metode kuesioner untuk jabatan minimal senior manager, direktur atau komisaris (C-Level). Responden akan diminta mengisi kues…
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- ISBN/ISSN
- -
- Deskripsi Fisik
- xiii, 53 p. : il. ; 30 cm.
- Judul Seri
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- No. Panggil
- T 360/24
Choosing What Best (or Not): The Possibility of Biases in Individual Preferen…
Penelitian ini mengeksplorasi kemungkinan bias yang mempengaruhi preferensi pengobatan pasien dengan penyakit kronis. Preferensi pasien dengan penyakit kronis terhadapap pengobatan tradisional dianalisis melalui teori ekonomi perilaku seperti loss aversion, underconfidence bias, dan, risk aversion. Sebelumnya, penggunaan pengobatan tradisional diatribusikan pada kondisi sosioekonomi. Elisitasi …
- Edisi
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- ISBN/ISSN
- -
- Deskripsi Fisik
- x, 80 p. : il. ; 30 cm.
- Judul Seri
- -
- No. Panggil
- S 15235
Pengaruh Income dan Financial Literacy terhadap Keputusan Investasi Saham den…
Penelitian ini bertujuan untuk mengetahui peran income dan financial literacy terhadap keputusan investasi saham dengan overconfidence dan risk aversion sebagai variabel mediasi. Data penelitian dikumpulkan melalui kuesioner online dengan sejumlah 210 responden yang berusia di atas 18 tahun, memiliki investasi dalam bentuk saham, dan berdomisili di wilayah Jabodetabek. Hasil penelitian menunjuk…
- Edisi
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- ISBN/ISSN
- -
- Deskripsi Fisik
- xvi, 117 p. ; diagr. ; 30 cm
- Judul Seri
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- No. Panggil
- 14105
Agency problems and the theory of the firm
The separation of security ownership and control is presented as an efficient form of economic organization. The presumption that a corporation has owners in any meaningful sense is set aside, along with the concept of the entrepreneur. The functions of management and risk bearing are treated as naturally separate factors within the set of contracts called a firm. The firm is disciplined by com…
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- ISBN/ISSN
- -
- Deskripsi Fisik
- -
- Judul Seri
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- No. Panggil
- IM1510521
Peer Effects in Risk Aversion and Trust
Existing evidence shows that risk aversion and trust are largely determined by environmental factors. We test whether one such factor is peer influence. Using random assignment of MBA students to peer groups and predetermined survey responses of economic attitudes, we find causal evidence of positive peer effects in risk aversion and no effects in trust. After the first year of the MBA program,…
- Edisi
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- ISBN/ISSN
- 8939454
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- RFS2711
Ambiguous information, portfolio inertia, and excess volatility
I study the effects of risk and ambiguity (Knightian uncertainty) on optimal portfolios and equilibrium asset prices when investors receive information that is difficult to link to fundamentals. I show that the desire of investors to hedge ambiguity leads to portfolio inertia and excess volatility. Specifically, when news is surprising, investors may not react to price changes even if there are…
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- ISBN/ISSN
- 221082
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- JOF6606
Long-run stockholder consumption risk and asset returns
We provide new evidence on the success of long-run risks in asset pricing by focusing on the risks borne by stockholders. Exploiting microlevel household consumption data, we show that long-run stockholder consumption risk better captures cross-sectional variation in average asset returns than aggregate or nonstockholder consumption risk, and implies more plausible risk aversion estimates. We f…
- Edisi
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- ISBN/ISSN
- 221082
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- -
A Habit-based explanation of the exchange rate risk premium
This paper presents a model that reproduces the uncovered interest rate parity puzzle. Investors have preferences with external habits. Countercyclical risk premia and procyclical real interest rates arise endogenously. During bad times at home, when domestic consumption is close to the habit level, the representative investor is very risk averse. When the domestic investor is more risk averse …
- Edisi
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- ISBN/ISSN
- 221082
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- -
First-order risk aversion, heterogeneity, and asset market outcomes
We examine a wide range of two-date economies populated by heterogeneous agents with the most common forms of nonexpected utility preferences used in finance and macroeconomics. We demonstrate that the risk premium and the risk-free rate in these models are sensitive to ignoring heterogeneity. This follows because of endogenous withdrawal by nonexpected utility agents from the market for the ri…
- Edisi
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- ISBN/ISSN
- 221082
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- -
Overconfidence, CEO selection, and corporate governance
We develop a model that shows that an overconfident manager, who sometimes makes value-destroying investments, has a higher likelihood than a rational manager of being deliberately promoted to CEO under value-maximizing corporate governance. Moreover, a risk-averse CEO's overconfidence enhances firm value up to a point, but the effect is nonmonotonic and differs from that of lower risk aversion…
- Edisi
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- ISBN/ISSN
- 221082
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- -
High-water marks: high risk appetites? convex compensation, long horizons, an…
We study the portfolio choice of hedge fund managers who are compensated by high-water mark contracts. We find that even risk-neutral managers do not place unbounded weights on risky assets, despite option-like contracts. Instead, they place a constant fraction of funds in a mean-variance efficient portfolio and the rest in the riskless asset, acting as would constant relative risk aversion (CR…
- Edisi
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- ISBN/ISSN
- 221082
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- -
Precautionary saving and consumption smoothing across time and possibilities
This paper examines how aversion to risk and aversion to intertemporal substitution determine the strength of the precautionary saving motive in a two-period model with Selden/Kreps-Porteus preferences. For small risks, we derive a measure of the strength of the precautionary saving motive that generalizes the concept of "prudence" introduced by Kimball (1990b). For large risks, we show that de…
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- ISBN/ISSN
- 222879
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- -
Sticky prices and indeterminacy
The aim of this paper is to analyze the link between price rigidity and indeterminacy. This is done within a cash-in-advance economy that is known to exhibit indeterminacy at high degrees of relative risk aversion. My findings show that price stickiness reduces the scope of these sunspot equilibria: to be compatible with indeterminacy, sluggish price adjustment requires degrees of relative risk…
- Edisi
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- ISBN/ISSN
- 222879
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- -
Individual investor trading and stock returns
This paper investigates the dynamic relation between net individual investor trading and short-horizon returns for a large cross-section of NYSE stocks. The evidence indicates that individuals tend to buy stocks following declines in the previous month and sell following price increases. We document positive excess returns in the month following intense buying by individuals and negative excess…
- Edisi
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- ISBN/ISSN
- 221082
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- -
Heterogeneous beliefs, speculation, and the equity premium
Agents with heterogeneous beliefs about fundamental growth do not share risks perfectly but instead speculate with each other on the relative accuracy of their models' predictions. They face the risk that market prices move more in line with the trading models of competing agents than with their own. Less risk-averse agents speculate more aggressively and demand higher risk premiums. My calibra…
- Edisi
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- ISBN/ISSN
- 221082
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- -
Rational inattention and portfolio selection
Costly information acquisition makes it rational for investors to obtain important economic news with only limited frequency or limited accuracy. We show that this rational inattention to important news may make investors over- or underinvest. In addition, the optimal trading strategy is "myopic" with respect to future news frequency and accuracy. We find that the optimal news frequency is nonm…
- Edisi
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- ISBN/ISSN
- 221082
- Deskripsi Fisik
- -
- Judul Seri
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- No. Panggil
- -
How do intentions affect loss aversion?
Previously (see Novemsky and Kahneman 2005), the authors proposed that intentions to exchange versus to consume a good moderate loss aversion for that good. In this rejoinder, the authors follow up on this idea, discussing several mechanisms that Ariely, Huber, and Wertenbroch (2005) propose by which intentions can moderate loss aversion. The authors consider both emotional attachment to the go…
- Edisi
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- ISBN/ISSN
- 222437
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- -
Three cheers-psychological, theoretical, empirical-for loss aversion
This note emphasizes the special role of prospect theory in drawing psychophysical consideration into theories of decision making with respect to risk. An example of such a consideration is the dependence of outcome value on a reference point and the increased sensitivity of loss relative to gain (i.e. loss aversion). Loss aversion can explain the St. Petersburg paradox without requiring concav…
- Edisi
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- ISBN/ISSN
- 222437
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- -
The Boundaries of loss aversion
In this article, the authors propose some psychological principles to describe the boundaries of loss aversion. A key idea is that exchange goods that are given up "as intended" do not exhibit loss aversion. For example, the authors propose that money given up in purchases is not generally subject to loss aversion. The results of several experiments provide preliminary support for the hypothese…
- Edisi
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- ISBN/ISSN
- 222437
- Deskripsi Fisik
- -
- Judul Seri
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- No. Panggil
- -
Karya Umum 
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