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dc.contributor.authorJoshy, Jacob
dc.contributor.authorPandey, Ajay
dc.contributor.authorBansal, Avijit
dc.date.accessioned2022-03-02T03:54:58Z
dc.date.available2022-03-02T03:54:58Z
dc.date.issued2021-12-03
dc.identifier.citationBansal, A., Jacob, J., & Pandey, A. (2021). Influence of endogenous reference points on the selling decisions of retail investors. European Financial Management.en_US
dc.identifier.urihttps://doi.org/10.1111/eufm.12347
dc.identifier.urihttp://hdl.handle.net/11718/25496
dc.description.abstractUsing trader-level data, we examine the impact of the stock-specific endogenous reference points, the ‘realized-return’ and the ‘peak-return’ of the prior round on the selling propensity in a subsequent investment round in the same asset. The selling propensity rises significantly near the endogenous reference points. The significance is greater when the holding period is relatively shorter and when the time gap between the consecutive rounds is lower, implying a recency effect. Finally, the impact is more substantial on traders holding fewer stocks. The results imply that traders' prior stock-specific experience plays a significant role in the reference point formation.en_US
dc.language.isoenen_US
dc.publisherJohn Wiley & Sons, Inc.en_US
dc.relation.ispartofEuropean Financial Managementen_US
dc.titleInfluence of endogenous reference points on the selling decisions of retail investorsen_US
dc.typeArticleen_US


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