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Issue 5(1), October 2010 -- Paper Abstracts

Girard  (p. 9-22)

Cooper (p. 23-32)

Kunz-Osborne (p. 33-41)

Coulmas-Law (p.42-46)

Stasio (p. 47-56)

Albert-Valette-Florence (p.57-63)

Zhang-Rauch (p. 64-70)

Alam-Yasin (p. 71-78)

Mattare-Monahan-Shah (p. 79-94)

Nonis-Hudson-Hunt (p. 95-106)

JOURNAL OF MANAGEMENT POLICY AND PRACTICE

Test of a Theory: An Empirical Examination of the Changing

Nature of Investor Behavior

Author(s): Amanda L. Smith, Thomas W. Harvey

Citation: Amanda L. Smith, Thomas W. Harvey, (2011) "Test of a Theory: An Empirical Examination of the Changing Nature of Investor Behavior," Journal of Management Policy and Practice, Vol. 12, Iss. 3, pp. 49 - 68

Article Type: Research paper

Publisher: North American Business Press

Abstract:

This study accomplishes four objectives. First, it supports the behavioral finance literature as to how

investors make decisions. Second, we hypothesize that investors utilize technical and fundamental

analysis in their investment decisions which are also influenced by economic conditions. Third, we test

that assertion empirically and find that there is less reliance on fundamental analysis and that investors

are using past stock prices as the dominant criteria for investment. Fourth, our results suggest that

investors rely most heavily on economic factors and stock price trends for making their decisions. The

influence of cable television and the Internet is also explored.