Workshop Title:

Recent Advances in Behavioral Finance

Date:

January 25th, 2023 (GMT)

Organizer:

Cardiff Business School

Keywords:

• Behavioral Finance
• Market Anomalies
• Sentiment
• Machine Learning

Workshop Chair:

Personal Bio:

Arman Eshraghi is a Professor of Finance and Chair of Finance and Investment at Cardiff Business School, UK. His academic research spans finance, accounting and psychology with interests including behavioural finance, financial technology and corporate governance. His work is published in some of the leading journals of the field, cited in the media including the Financial Times, Washington Post, Harvard Business Review, Forbes and Bloomberg, and contributed to handbooks published by Cambridge University, Wiley, Springer and Routledge. Professor Eshraghi is an Editor of International Review of Economics and Finance, Senior Editor of Finance Research Letters, Shimomura Fellow of the Development Bank of Japan, Fellow of the Centre for the Study of Decision-Making Uncertainty at UCL, Fellow of the Higher Education Academy, Director of the Cardiff Fintech Research Group, and an Advisory Board Member of Fintech Wales. He has advised several UK financial services firms in recent years.

Workshop Description:

Background:

This workshop will cover some of the latest advances in behavioral finance. In particular, we will examine some of the recent publications in leading finance journals that cover behavioral topics or have implications for behavioral finance principles & methods. The workshop may also explore current high-profile investment and corporate financial issues reported in the media. In particular, we will examine resent behavioral approaches used in research around financial technology topics. These may include behavioral finance topics related to cryptocurrency investing and speculative behavior, market sentiment, crowd funding, peer-to-peer lending, using social trading platforms, market reaction to corporate use of emerging technologies, and similar topics.

Goal / Rationale:

The workshop provides a practical overview of an exciting and high-profile new area in finance which takes as its premise that financial decision-making and investor behaviour are not necessarily driven by 'rational' considerations but by aspects of personal and market psychology. In practice, our abilities to make complex investment and corporate finance decisions are limited, and we can improve our performance both as financial managers and investors by recognizing and dealing appropriately with the biases and emotions to which all of us are prone. Behavioral approaches in finance have recently been supplemented with socio-cultural approaches thus yielding interesting research findings.

Scope and Information for Participants:

This workshop is ideas-based, and conceptual and reflective in nature and draws on participants' own experiences. Some of the behavioral topics that may be covered include:

• What are the decision biases to which we are prone?
• How do we make (financial) judgements and how can these be improved?
• What role do our emotions play?
• How should we save for retirement?
• Why do private investors lose so much money and how can we avoid this ourselves?
• How can we improve our stock and mutual fund selection decisions?
• Why are investment analysts' buy and sell recommendations often incorrect?
• Why are security prices so volatile?

Highlights:

The workshop *Recent Advances in Behavioural Finance* was successfully held on Jan. 25, 2023 at the Postgraduate Centre, Cardiff Business School presented by Professor Eshraghi. The 15 students attending the workshop were mainly doctoral students from the discipline of finance and accounting at Cardiff University. The workshop showcased some of the latest research conducted in the area of behavioural finance and financial technology as well as overlaps between the two subjects. Some of the behavioural topics discussed including examination of market sentiment and emotions in finance, the role of culture and early managerial experiences, the network effects of social media in finance and the like. The fintech topics examined included risk and returns of cryptocurrencies, the formation of crypt bubbles, ICO underpricing and crypto fraud.

Access to Workshop:

Research Talk 25 January 2023 (panopto.eu)

Venue:

Cardiff Business School, Aberconway Building, Colum Drive, Cardiff CF10 3EU

Visa:

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