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Come together: trust, sociability and individual investors' stock-portfolio returns
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Business Administration.ORCID iD: 0000-0003-3476-8635
2021 (English)In: Review of Behavioral Finance, ISSN 1940-5979, Vol. 13, no 5, p. 647-662Article in journal (Refereed) Published
Abstract [en]

Purpose – Previous studies have found that trusting and sociable individuals are more likely to participate in the stock market and hold risky assets. The purpose of this paper is to explore if trust and sociability also are related to individual investors’ stock-portfolio returns.

Design/methodology/approach – The authors study the questions in the paper by linking survey measures of trust and sociability to investors’ actual stock portfolios.

Findings – The authors find that trusting investors acquire higher raw and risk-adjusted stock-portfolio returns, but that the returns do not differ depending on how sociable investors are. These results suggest that trust is important for investors’ stock-portfolio decisions, and that trusting investors tend to perform better in the stock market than less-trusting investors.

Originality/value – This is, to the best of the authors’ knowledge, the first paper that relates survey measures of trust and sociability to investors’ actual stock-portfolio holdings. This is important to increase the understanding for how trust and sociability are related to the financial decisions individuals makes.

Place, publisher, year, edition, pages
Emerald Group Publishing Limited, 2021. Vol. 13, no 5, p. 647-662
Keywords [en]
Trust, Sociability, Individual investors, Portfolio return, Financial decisions
National Category
Business Administration
Identifiers
URN: urn:nbn:se:umu:diva-173661DOI: 10.1108/RBF-11-2019-0160ISI: 000547915200001Scopus ID: 2-s2.0-85087655922OAI: oai:DiVA.org:umu-173661DiVA, id: diva2:1455201
Funder
The Jan Wallander and Tom Hedelius FoundationAvailable from: 2020-07-22 Created: 2020-07-22 Last updated: 2021-12-30Bibliographically approved

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Stålnacke, Oscar

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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf