Auflistung LIF-SAFE Working Papers nach Autor "Kaustia, Markku"

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    • Does Mood Affect Trading Behavior? 

      Kaustia, Markku; Rantapuska, Elias (2012-11-09)
      We test whether investor mood affects trading with data on all stock market transactions in Finland, utilizing variation in daylight and local weather. We find some evidence that environmental mood variables (local weather, ...

    • Does sophistication affect long-term return expectations? Evidence from financial advisers' exam scores 

      Kaustia, Markku; Lehtoranta, Antti; Puttonen, Vesa (2013-01-22)
      We use unique data fromfinancial advisers’ professional exam scores and combine it with other variables to create an index of financial sophistication. Using this index to explain long-term stock return expectations, we ...

    • Stock Ownership and Political Behavior: Evidence from Demutualizations 

      Kaustia, Markku; Knüpfer, Samuli; Torstila, Sami (2013-12-12)
      A setting in which customer-owned mutual companies converted to publicly listed firms created a plausibly exogenous shock to salience of stock ownership. We use this shock to identify the effect of stock ownership on ...