David A. Hirshleifer

University of California, Irvine - Paul Merage School of Business

Professor & Merage Chair in Business Growth, Finance

Paul Merage School of Business

Irvine, CA California 92697-3125

United States

http://sites.uci.edu/dhirshle/

National Bureau of Economic Research (NBER)

Research Associate

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

  • University of California, Irvine - Paul Merage School of Business

  • National Bureau of Economic Research (NBER)

SCHOLARLY PAPERS

154

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147,539

SSRN CITATIONS
Rank 148

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Top 148

in Total Papers Citations

1,908

CROSSREF CITATIONS

2,285

Ideas:
“  I'm currently working on social economics and finance, with a special emphasis on the effects of social transmission bias.  ”

  • University of California, Irvine - Paul Merage School of Business

  • National Bureau of Economic Research (NBER)

Scholarly Papers (154)

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1.

A Checklist for Reviewing a Paper

Duke I&E Research Paper No. 2017-03, Stanford University Graduate School of Business Research Paper No. 17-6
Number of pages: 2 Posted: 21 Dec 2016 Last Revised: 10 Sep 2020
Jonathan Berk, Campbell R. Harvey and David A. Hirshleifer
Stanford Graduate School of Business, Duke University - Fuqua School of Business and University of California, Irvine - Paul Merage School of Business
Downloads 25,816 (98)
Citation 1

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Referee Report, Cover Letter, Conflicts of Interest

2.

Preparing a Referee Report: Guidelines and Perspectives

Number of pages: 9 Posted: 11 Jan 2015 Last Revised: 21 Dec 2016
Jonathan Berk, Campbell R. Harvey and David A. Hirshleifer
Stanford Graduate School of Business, Duke University - Fuqua School of Business and University of California, Irvine - Paul Merage School of Business
Downloads 11,895 (416)
Citation 3

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Referee report, Cover letter, Ethics, Conflicts of Interest

3.

Can Individual Investors Beat the Market?

HBS Finance Working Paper No. 04-025, Harvard NOM Working Paper No. 02-45
Number of pages: 39 Posted: 06 Jan 2003 Last Revised: 21 Jul 2018
Joshua D. Coval, David A. Hirshleifer and Tyler Shumway
Harvard Business School - Finance Unit, University of California, Irvine - Paul Merage School of Business and University of Michigan at Ann Arbor, The Stephen M. Ross School of Business
Downloads 10,883 (497)
Citation 26

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Individual Investors, Market Efficiency, Performance Persistence

4.

Investor Psychology and Asset Pricing

Downloads 8,461 ( 765)
Citation 23

Investor Psychology and Asset Pricing

AFA 2001 New Orleans Meetings
Number of pages: 92 Posted: 28 Mar 2001
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business
Downloads 8,461 (755)
Citation 23

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Investor Psychology and Asset Pricing

Journal of Finance, Vol. 56, No. 4, pp. 1533-1598, August 2001
Posted: 01 Dec 2008
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business

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5.

A Theory of Overconfidence, Self-Attribution, and Security Market Under- and Over-Reactions

Number of pages: 59 Posted: 01 May 1997 Last Revised: 21 May 2018
Kent D. Daniel, David A. Hirshleifer and Avanidhar Subrahmanyam
Columbia Business School - Finance and Economics, University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA) - Finance Area
Downloads 7,585 (923)
Citation 68

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6.

Behavioral Finance

Downloads 3,610 ( 3,339)
Citation 38

Behavioral Finance

Number of pages: 69 Posted: 15 Aug 2014 Last Revised: 01 Oct 2014
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business
Downloads 3,610 (3,284)
Citation 38

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Investor psychology, heuristics, overconfidence, attention, feelings, reference dependence, social finance

Behavioral Finance

Annual Review of Financial Economics, Vol. 7, pp. 133-159, 2015
Posted: 11 Dec 2015
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business

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7.

Limited Attention, Information Disclosure, and Financial Reporting

Downloads 3,388 ( 3,730)

Limited Attention, Information Disclosure, and Financial Reporting

Number of pages: 63 Posted: 06 Jan 2004
David A. Hirshleifer and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area
Downloads 3,388 (3,649)
Citation 159

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limited attention, behavioral accounting, investor psychology, capital markets, accounting regulation, disclosure, market efficiency

Limited Attention, Information Disclosure, and Financial Reporting

Posted: 01 Dec 2003
David A. Hirshleifer and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area

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limited attention, behavioral accounting, investor psychology, capital markets, accounting regulation, disclosure, market efficiency

8.

Do Investors Overvalue Firms with Bloated Balance Sheets?

Number of pages: 53 Posted: 03 Aug 2004
David A. Hirshleifer, Kewei Hou, Siew Hong Teoh and Yinglei Zhang
University of California, Irvine - Paul Merage School of Business, Ohio State University (OSU) - Department of Finance, University of California, Irvine - Accounting Area and The Chinese University of Hong Kong (CUHK) - School of Accountancy
Downloads 3,378 (3,744)
Citation 113

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limited attention, market efficiency, investor misvaluation

9.

Herd Behavior and Cascading in Capital Markets: A Review and Synthesis

Dice Center Working Paper No. 2001-20
Number of pages: 58 Posted: 10 Jan 2002
David A. Hirshleifer and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area
Downloads 3,307 (3,880)
Citation 30

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10.

Investor Psychology in Capital Markets: Evidence and Policy Implications

Downloads 3,294 ( 3,916)
Citation 46

Investor Psychology in Capital Markets: Evidence and Policy Implications

Dice Center WP 2001-10
Number of pages: 94 Posted: 14 Aug 2001
Kent D. Daniel, David A. Hirshleifer and Siew Hong Teoh
Columbia Business School - Finance and Economics, University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area
Downloads 3,294 (3,827)
Citation 46

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Investor Psychology in Capital Markets: Evidence and Policy Implications

THE PSYCHOLOGY OF WORLD EQUITY MARKETS, Werner De Bondt, ed., Edward Elgar Publishing Ltd., July 2005, Journal of Monetary Economics, Vol. 49, No. 1, 2002
Posted: 01 Dec 2008
Kent D. Daniel, David A. Hirshleifer and Siew Hong Teoh
Columbia Business School - Finance and Economics, University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area

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11.

Good Day Sunshine: Stock Returns and the Weather

Downloads 3,189 ( 4,184)
Citation 132

Good Day Sunshine: Stock Returns and the Weather

Dice Center Working Paper No. 2001-3
Number of pages: 31 Posted: 17 Apr 2001
David A. Hirshleifer and Tyler Shumway
University of California, Irvine - Paul Merage School of Business and University of Michigan at Ann Arbor, The Stephen M. Ross School of Business
Downloads 3,189 (4,103)
Citation 132

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Good Day Sunshine: Stock Returns and the Weather

Posted: 22 Jul 2003
David A. Hirshleifer and Tyler Shumway
University of California, Irvine - Paul Merage School of Business and University of Michigan at Ann Arbor, The Stephen M. Ross School of Business

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12.

How to Write an Effective Referee Report and Improve the Scientific Review Process

Duke I&E Research Paper No. 2016-47
Number of pages: 14 Posted: 26 Nov 2016 Last Revised: 13 Dec 2016
Jonathan Berk, Campbell R. Harvey and David A. Hirshleifer
Stanford Graduate School of Business, Duke University - Fuqua School of Business and University of California, Irvine - Paul Merage School of Business
Downloads 2,921 (4,860)
Citation 5

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Referee report, Cover letter, Ethics, Conflicts of Interest

13.

The Accrual Anomaly: Risk or Mispricing?

AFA 2007 Chicago Meetings Paper
Number of pages: 51 Posted: 30 Mar 2006 Last Revised: 31 Mar 2010
David A. Hirshleifer, Kewei Hou and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, Ohio State University (OSU) - Department of Finance and University of California, Irvine - Accounting Area
Downloads 2,545 (6,092)
Citation 16

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Capital markets, accruals, market efficiency, behavioral accounting, behavioral finance, limited attention

14.

Do Individual Investors Cause Post-Earnings Announcement Drift? Direct Evidence from Personal Trades

Downloads 2,163 ( 7,975)

Do Individual Investors Cause Post-Earnings Announcement Drift? Direct Evidence from Personal Trades

Number of pages: 51 Posted: 23 Nov 2003 Last Revised: 09 Aug 2018
David A. Hirshleifer, James N. Myers, Linda A. Myers and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, University of Tennessee, Knoxville - College of Business Administration, University of Tennessee, Haslam College of Business, Accounting and Information Management and University of California, Irvine - Accounting Area
Downloads 2,163 (7,831)
Citation 46

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earnings anomalies, post-earnings announcement drift, market efficiency, trading activity, individual investors, investor sophistication

Do Individual Investors Cause Post-Earnings Announcement Drift? Direct Evidence from Personal Trades

Accounting Review, November 2008
Posted: 04 Jun 2008 Last Revised: 19 Oct 2008
David A. Hirshleifer, James N. Myers, Linda A. Myers and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, University of Tennessee, Knoxville - College of Business Administration, University of Tennessee, Haslam College of Business, Accounting and Information Management and University of California, Irvine - Accounting Area

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earnings anomalies, post-earnings announcement drift, market efficiency, trading activity, individual investors, investor sophistication

15.

Are Overconfident CEOs Better Innovators?

Journal of Finance, Forthcoming
Number of pages: 60 Posted: 02 May 2010 Last Revised: 15 Jun 2018
David A. Hirshleifer, Siew Hong Teoh and Angie Low
University of California, Irvine - Paul Merage School of Business, University of California, Irvine - Accounting Area and Nanyang Technological University - Division of Banking & Finance
Downloads 1,996 (9,121)
Citation 17

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CEO Overconfidence, Innovation, R&D, Patent

16.

Thought and Behavior Contagion in Capital Markets

HANDBOOK OF FINANCIAL MARKETS: DYNAMICS AND EVOLUTION, 2009
Number of pages: 78 Posted: 16 Jun 2008 Last Revised: 13 Dec 2008
David A. Hirshleifer and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area
Downloads 1,875 (10,099)
Citation 2

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capital markets, thought contagion, behavioral contagion, herd behavior, information cascades, social learning, investor psychology, accounting regulation, disclosure, behavioral finance, market efficiency, popular models, memes

17.

Innovative Efficiency and Stock Returns

Journal of Financial Economics (JFE), Vol. 107, 2013
Number of pages: 62 Posted: 04 Apr 2011 Last Revised: 15 Jun 2018
David A. Hirshleifer, Po-Hsuan Hsu and Dongmei Li
University of California, Irvine - Paul Merage School of Business, National Tsing Hua University - Department of Quantitative Finance and University of South Carolina - Darla Moore School of Business - Department of Finance
Downloads 1,844 (10,366)
Citation 62

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innovative efficiency, limited attention

18.

Does Investor Misvaluation Drive the Takeover Market?

Downloads 1,799 ( 10,759)
Citation 126

Does Investor Misvaluation Drive the Takeover Market?

EFA 2003 Annual Conference Paper No. 652, Dice Center Working Paper No. 2003-7
Number of pages: 44 Posted: 01 May 2003 Last Revised: 13 Dec 2008
Ming Dong, David A. Hirshleifer, Scott A. Richardson and Siew Hong Teoh
York University - Schulich School of Business, University of California, Irvine - Paul Merage School of Business, AQR Capital Management, LLC and University of California, Irvine - Accounting Area
Downloads 1,799 (10,557)
Citation 126

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takeovers, misvaluation, market efficiency, behavioral finance

Does Investor Misvaluation Drive the Takeover Market?

Journal of Finance, Vol. 61, No. 2, pp. 725-762, April 2006
Posted: 06 Oct 2008 Last Revised: 19 Oct 2008
Ming Dong, David A. Hirshleifer, Scott A. Richardson and Siew Hong Teoh
York University - Schulich School of Business, University of California, Irvine - Paul Merage School of Business, AQR Capital Management, LLC and University of California, Irvine - Accounting Area

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takeovers, misvaluation, market efficiency, behavioral finance

19.

Short- and Long-Horizon Behavioral Factors

Downloads 1,567 ( 13,412)
Citation 40

Short- and Long-Horizon Behavioral Factors

Review of Financial Studies, Forthcoming
Number of pages: 74 Posted: 12 Dec 2017 Last Revised: 13 Sep 2019
Kent D. Daniel, David A. Hirshleifer and Lin Sun
Columbia Business School - Finance and Economics, University of California, Irvine - Paul Merage School of Business and George Mason University - Department of Finance
Downloads 1,506 (13,999)
Citation 28

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Factor Models, Anomalies, Behavioral Factors

Short- and Long-Horizon Behavioral Factors

NBER Working Paper No. w24163
Number of pages: 75 Posted: 03 Jan 2018
Kent D. Daniel, David A. Hirshleifer and Lin Sun
Columbia Business School - Finance and Economics, University of California, Irvine - Paul Merage School of Business and Florida State University
Downloads 61 (420,277)
Citation 12

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20.

An Economic Approach to the Psychology of Change: Amnesia, Inertia, and Impulsiveness

Downloads 1,521 ( 14,039)

An Economic Approach to the Psychology of Change: Amnesia, Inertia, and Impulsiveness

Yale ICF Working Paper No. 00-47, Cowles Foundation Discussion Paper No. 1306, Dice Working Paper No. 2000-4
Number of pages: 46 Posted: 17 May 2001 Last Revised: 20 Aug 2009
David A. Hirshleifer and Ivo Welch
University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA)
Downloads 1,521 (13,775)
Citation 7

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Memory, Inertia, Amnesia, Behavioral Economics

An Economic Approach to the Psychology of Change: Amnesia, Inertia, and Impulsiveness

Journal of Economics and Management Strategy, Vol. 11, No. 3, pp. 379-421, Fall 2002
Posted: 01 Dec 2008
David A. Hirshleifer and Ivo Welch
University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA)

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21.

Mood Beta and Seasonalities in Stock Returns

Journal of Financial Economics, 2020, 137(1): 272-295
Number of pages: 63 Posted: 07 Dec 2016 Last Revised: 14 Jul 2020
David A. Hirshleifer, Danling Jiang and Yuting Meng
University of California, Irvine - Paul Merage School of Business, College of Business, Stony Brook University and University of South Florida - Department of Finance
Downloads 1,390 (16,208)
Citation 6

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Return seasonality, Investor mood, Mood beta, Market efficiency, Anomalies

22.

Limited Investor Attention and Stock Market Misreactions to Accounting Information

Number of pages: 48 Posted: 18 Nov 2005 Last Revised: 07 Jul 2011
David A. Hirshleifer, Sonya S. Lim and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, DePaul University - Department of Finance and University of California, Irvine - Accounting Area
Downloads 1,367 (16,628)
Citation 51

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limited attention, behavioral finance, investor psychology, capital markets, accruals, market efficiency

23.

A Theory of Fads, Fashion, Custom, and Cultural Change as Informational Cascades

Journal of Political Economy, Vol. 100, No. 5, pp. 992-1026, October 1992
Number of pages: 51 Posted: 01 Dec 2008 Last Revised: 18 May 2009
Sushil Bikhchandani, Ivo Welch and David A. Hirshleifer
University of California, Los Angeles - Anderson School of Management, University of California, Los Angeles (UCLA) and University of California, Irvine - Paul Merage School of Business
Downloads 1,342 (17,111)
Citation 150

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24.

Accruals and Aggregate Stock Market Returns

Journal of Financial Economics, Forthcoming
Number of pages: 53 Posted: 21 Nov 2005 Last Revised: 19 Oct 2008
David A. Hirshleifer, Kewei Hou and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, Ohio State University (OSU) - Department of Finance and University of California, Irvine - Accounting Area
Downloads 1,255 (18,917)
Citation 7

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25.

A Generalized Earnings-Based Stock Valuation Model

Downloads 1,229 ( 19,499)
Citation 3

A Generalized Earnings-Based Stock Valuation Model

Number of pages: 44 Posted: 22 Nov 2004
Ming Dong and David A. Hirshleifer
York University - Schulich School of Business and University of California, Irvine - Paul Merage School of Business
Downloads 1,194 (20,026)
Citation 2

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Stock valuation, negative earnings, asset pricing

A Generalized Earnings-Based Stock Valuation Model

Manchester School, Vol. 73, No. S1, pp. 1-31, September 2005
Number of pages: 31 Posted: 28 Aug 2005
Ming Dong and David A. Hirshleifer
York University - Schulich School of Business and University of California, Irvine - Paul Merage School of Business
Downloads 35 (532,292)
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26.

The Blind Leading the Blind: Social Influence, Fads and Informational Cascades

THE NEW ECONOMICS OF HUMAN BEHAVIOUR, Ierulli, K. and Tommasi, M., eds., Ch.12, pp. 188-215, Cambridge University Press, 1995, Anderson Graduate School of Management, UCLA, Working Paper No. 24-93
Number of pages: 35 Posted: 05 Oct 2008 Last Revised: 29 Sep 2009
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business
Downloads 1,213 (19,880)
Citation 10

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27.

Driven to Distraction: Extraneous Events and Underreaction to Earnings News

3rd Prize, 2007 Chicago Quantitative Alliance Annual Academic Competition, Journal of Finance, Forthcoming
Number of pages: 41 Posted: 18 Apr 2007 Last Revised: 21 Jun 2018
David A. Hirshleifer, Sonya S. Lim and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, DePaul University - Department of Finance and University of California, Irvine - Accounting Area
Downloads 1,160 (21,294)
Citation 119

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limited attention, behavioral finance, investor psychology, capital markets, post-earnings announcement drift, market efficiency

28.

The Causal Effect of Limits to Arbitrage on Asset Pricing Anomalies

Downloads 1,147 ( 21,659)
Citation 15

The Causal Effect of Limits to Arbitrage on Asset Pricing Anomalies

Journal of Finance, Forthcoming
Number of pages: 62 Posted: 01 Dec 2015 Last Revised: 02 Dec 2019
Yongqiang Chu, David A. Hirshleifer and Liang Ma
Belk College of Business, UNC Charlotte, University of California, Irvine - Paul Merage School of Business and University of South Carolina - Darla Moore School of Business
Downloads 1,109 (22,377)
Citation 3

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Limits to Arbitrage, Anomalies, Short Sale Constraints, Regulation SHO

The Causal Effect of Limits to Arbitrage on Asset Pricing Anomalies

NBER Working Paper No. w24144
Number of pages: 61 Posted: 28 Dec 2017
Yongqiang Chu, David A. Hirshleifer and Liang Ma
Belk College of Business, UNC Charlotte, University of California, Irvine - Paul Merage School of Business and University of South Carolina - Darla Moore School of Business
Downloads 38 (516,833)
Citation 11

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29.

Investor Overconfidence and the Forward Premium Puzzle

Downloads 1,118 ( 22,499)
Citation 16

Investor Overconfidence and the Forward Premium Puzzle

Number of pages: 58 Posted: 27 Mar 2008 Last Revised: 31 Mar 2010
A. Craig Burnside, Bing Han, David A. Hirshleifer and Tracy Yue Wang
Duke University - Department of Economics, University of Toronto, Rotman School of Management, University of California, Irvine - Paul Merage School of Business and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 872 (31,706)
Citation 1

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investor overconfidence, forward discount puzzle, inflation differential, exchange rate overshooting, market efficiency, Purchasing Power Parity

Investor Overconfidence and the Forward Premium Puzzle

Economic Research Initiatives at Duke (ERID) Working Paper No. 47, McCombs Research Paper Series No. FIN-03-10
Number of pages: 61 Posted: 27 Apr 2010 Last Revised: 08 Oct 2010
A. Craig Burnside, Bing Han, David A. Hirshleifer and Tracy Yue Wang
Duke University - Department of Economics, University of Toronto, Rotman School of Management, University of California, Irvine - Paul Merage School of Business and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 213 (169,425)
Citation 15

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Investor Overconfidence and the Forward Premium Puzzle

NBER Working Paper No. w15866
Number of pages: 61 Posted: 05 Apr 2010 Last Revised: 15 Oct 2010
A. Craig Burnside, Bing Han, David A. Hirshleifer and Tracy Yue Wang
Duke University - Department of Economics, University of Toronto, Rotman School of Management, University of California, Irvine - Paul Merage School of Business and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 33 (543,359)

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30.

Disclosure to a Credulous Audience: The Role of Limited Attention

Downloads 1,102 ( 22,964)
Citation 19

Disclosure to a Credulous Audience: The Role of Limited Attention

Number of pages: 45 Posted: 19 Jan 2004
David A. Hirshleifer, Sonya S. Lim and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, DePaul University - Department of Finance and University of California, Irvine - Accounting Area
Downloads 405 (85,438)
Citation 5

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Disclosure to a Credulous Audience: The Role of Limited Attention

Dice Center Working Paper No. 2002-3
Number of pages: 42 Posted: 13 Feb 2002
David A. Hirshleifer, Sonya S. Lim and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, DePaul University - Department of Finance and University of California, Irvine - Accounting Area
Downloads 382 (91,442)
Citation 3

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Disclosure to a Credulous Audience: The Role of Limited Attention

Number of pages: 45 Posted: 04 Feb 2005
David A. Hirshleifer, Sonya S. Lim and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, DePaul University - Department of Finance and University of California, Irvine - Accounting Area
Downloads 315 (113,777)
Citation 15

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31.

Are Investors Really Reluctant to Realize their Losses? Trading Responses to Past Returns and the Disposition Effect

Review of Financial Studies 25(8), 2485-2532, Fisher College of Business Working Paper No. 2011-03-013, Dice Center Working Paper No. 2011-13
Number of pages: 81 Posted: 03 Jul 2011 Last Revised: 21 Jul 2018
Itzhak Ben-David and David A. Hirshleifer
Ohio State University (OSU) - Department of Finance and University of California, Irvine - Paul Merage School of Business
Downloads 989 (26,863)
Citation 38

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disposition effect, realization preference, loss avoidance, loss aversion, prospect theory, individual investors

32.

Innovative Originality, Profitability, and Stock Returns

Downloads 985 ( 27,025)
Citation 26

Innovative Originality, Profitability, and Stock Returns

Review of Financial Studies, Forthcoming
Number of pages: 97 Posted: 26 Jul 2012 Last Revised: 27 Jan 2020
David A. Hirshleifer, Po-Hsuan Hsu and Dongmei Li
University of California, Irvine - Paul Merage School of Business, National Tsing Hua University - Department of Quantitative Finance and University of South Carolina - Darla Moore School of Business - Department of Finance
Downloads 927 (29,071)
Citation 18

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Limited attention, Market efficiency, Processing fluency, Innovative originality, Complexity, Ambiguity aversion

Innovative Originality, Profitability, and Stock Returns

NBER Working Paper No. w23432
Number of pages: 77 Posted: 30 May 2017 Last Revised: 08 Jun 2017
David A. Hirshleifer, Po-Hsuan Hsu and Dongmei Li
University of California, Irvine - Paul Merage School of Business, National Tsing Hua University - Department of Quantitative Finance and University of South Carolina - Darla Moore School of Business - Department of Finance
Downloads 58 (431,190)
Citation 3

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33.

Decision Fatigue and Heuristic Analyst Forecasts

Downloads 977 ( 27,338)
Citation 7

Decision Fatigue and Heuristic Analyst Forecasts

Number of pages: 46 Posted: 24 Jul 2017 Last Revised: 31 Jul 2018
David A. Hirshleifer, Yaron Levi, Ben Lourie and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, University of Southern California - Marshall School of Business, University of California, Irvine and University of California, Irvine - Accounting Area
Downloads 949 (28,087)
Citation 3

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Analysts, Decision Fatigue, Heuristic, Behavioral Finance

Decision Fatigue and Heuristic Analyst Forecasts

NBER Working Paper No. w24293
Number of pages: 56 Posted: 28 Feb 2018
David A. Hirshleifer, Yaron Levi, Ben Lourie and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, University of Southern California - Marshall School of Business, University of California, Irvine and University of California, Irvine - Accounting Area
Downloads 28 (572,986)
Citation 3

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34.

Psychological Bias as a Driver of Financial Regulation

Downloads 959 ( 28,074)
Citation 32

Psychological Bias as a Driver of Financial Regulation

European Financial Management Journal, Forthcoming
Number of pages: 36 Posted: 03 Oct 2007 Last Revised: 13 Dec 2008
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business
Downloads 956 (27,787)
Citation 2

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Investor psychology, regulation, salience, omission bias, scapegoating, xenophobia, fairness, reciprocity, norms, mood, availability cascades, overconfidence, evolutionary psychology, memes, ideology, replicators

Psychological Bias as a Driver of Financial Regulation

European Financial Management, Vol. 14, No. 5, pp. 856-874, November 2008
Number of pages: 19 Posted: 16 Oct 2008
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business
Downloads 3 (764,987)
Citation 6
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35.

Investor Psychology and Tests of Factor Pricing Models

Number of pages: 40 Posted: 26 Nov 2005
Kent D. Daniel, David A. Hirshleifer and Avanidhar Subrahmanyam
Columbia Business School - Finance and Economics, University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA) - Finance Area
Downloads 914 (30,118)
Citation 9

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factor models, overconfidence, Fama-French factors, covariance risk

36.

The Attention Trigger Effect: Macro News and Efficient Processing of Micro News

Number of pages: 65 Posted: 28 Dec 2016 Last Revised: 05 Sep 2019
David A. Hirshleifer and Jinfei Sheng
University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Paul Merage School of Business
Downloads 911 (30,258)
Citation 4

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macro news, earnings announcements, market efficiency, investor attention

37.

Feedback and the Success of Irrational Investors

Journal of Financial Economics, Vol. 81, No. 2, pp. 311-338, August 2006, Dice Center Working Paper No. 2003-22
Number of pages: 40 Posted: 28 Jul 2003 Last Revised: 13 Dec 2008
David A. Hirshleifer, Avanidhar Subrahmanyam and Sheridan Titman
University of California, Irvine - Paul Merage School of Business, University of California, Los Angeles (UCLA) - Finance Area and University of Texas at Austin - Department of Finance
Downloads 910 (30,305)
Citation 24

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38.

Covariance Risk, Mispricing, and the Cross Section of Security Returns

Downloads 899 ( 30,856)

Covariance Risk, Mispricing, and the Cross Section of Security Returns

Ohio State University Working Paper No. 2000-6
Number of pages: 51 Posted: 29 Dec 2000
Kent D. Daniel, David A. Hirshleifer and Avanidhar Subrahmanyam
Columbia Business School - Finance and Economics, University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA) - Finance Area
Downloads 839 (33,417)

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Covariance Risk, Mispricing, and the Cross Section of Security Returns

NBER Working Paper No. w7615
Number of pages: 47 Posted: 16 May 2000 Last Revised: 01 Apr 2001
Kent D. Daniel, David A. Hirshleifer and Avanidhar Subrahmanyam
Columbia Business School - Finance and Economics, University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA) - Finance Area
Downloads 60 (423,877)

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39.

Shared Analyst Coverage: Unifying Momentum Spillover Effects

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 64 Posted: 09 Aug 2017 Last Revised: 12 Jun 2019
Usman Ali and David A. Hirshleifer
Pacific Investment Management Company (PIMCO) and University of California, Irvine - Paul Merage School of Business
Downloads 875 (32,004)
Citation 8

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CF momentum, cross-asset momentum, industry momentum, geographic momentum, customer momentum, supplier momentum, technology momentum, complicated firms

40.

Misvaluation and Corporate Inventiveness

Downloads 869 ( 32,340)
Citation 6

Misvaluation and Corporate Inventiveness

Journal of Financial and Quantitative Analysis
Number of pages: 67 Posted: 03 Dec 2016 Last Revised: 26 Jun 2020
Ming Dong, David A. Hirshleifer and Siew Hong Teoh
York University - Schulich School of Business, University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area
Downloads 837 (33,518)
Citation 2

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Stock Market Misvaluation, Innovation, R&D, Patents, Behavioral Finance, Market Efficiency

Misvaluation and Corporate Inventiveness

NBER Working Paper No. w24142
Number of pages: 68 Posted: 28 Dec 2017
Ming Dong, David A. Hirshleifer and Siew Hong Teoh
York University - Schulich School of Business, University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area
Downloads 32 (548,944)
Citation 4

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41.

A Financing-Based Misvaluation Factor and the Cross Section of Expected Returns

Review of Financial Studies, Vol. 23, No. 9, pp. 3401-3436, 2010 , AFA 2008 New Orleans Meetings Paper, WFA 2009 San Diego Meetings Paper
Number of pages: 59 Posted: 20 Mar 2007 Last Revised: 22 Jun 2011
David A. Hirshleifer and Danling Jiang
University of California, Irvine - Paul Merage School of Business and College of Business, Stony Brook University
Downloads 863 (32,629)
Citation 5

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Misvaluation, financing, new issues, repurchase, factor models, market efficiency, behavioral finance

42.

Conversation, Observational Learning, and Informational Cascades

Dice Center Working Paper No. 2001-5
Number of pages: 37 Posted: 09 May 2001 Last Revised: 20 Aug 2009
H. Henry Cao and David A. Hirshleifer
University of North Carolina (UNC) at Chapel Hill - Finance Area and University of California, Irvine - Paul Merage School of Business
Downloads 831 (34,378)
Citation 13

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43.

Opportunism as a Firm and Managerial Trait: Predicting Insider Trading Profits and Misconduct

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 81 Posted: 24 Jul 2015 Last Revised: 17 May 2018
Usman Ali and David A. Hirshleifer
Pacific Investment Management Company (PIMCO) and University of California, Irvine - Paul Merage School of Business
Downloads 822 (34,868)
Citation 2

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insider trading, managerial opportunism, managerial traits, misconduct, financial reporting, compensation

44.

Transcript of the AFA 2020 Presidential Address with Presentation Slides: Social Transmission Bias in Economics and Finance

Number of pages: 39 Posted: 28 Jan 2020 Last Revised: 01 Oct 2020
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business
Downloads 812 (35,613)

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social transmission bias, social economics, social finance, behavioral economics, behavioral finance, social networks, social learning, information percolation, biased percolation, epidemiology, visibility bias, self-enhancing transmission bias, simplistic thinking, memes, cultural evolution

45.

First Impression Bias: Evidence from Analyst Forecasts

Review of Finance, Forthcoming
Number of pages: 56 Posted: 23 Apr 2019 Last Revised: 26 May 2020
David A. Hirshleifer, Ben Lourie, Thomas Ruchti and Phong Truong
University of California, Irvine - Paul Merage School of Business, University of California, Irvine, Carnegie Mellon University - Department of Accounting and Pennsylvania State University
Downloads 777 (37,643)
Citation 2

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First Impressions, Equity Analysts, Behavioral Finance

46.

Attention, Social Interaction, and Investor Attraction to Lottery Stocks

9th Miami Behavioral Finance Conference 2018, Baruch College Zicklin School of Business Research Paper No. 2019-03-01, Georgetown McDonough School of Business Research Paper No. 3343769
Number of pages: 67 Posted: 15 Mar 2019 Last Revised: 15 Jul 2019
Turan G. Bali, David A. Hirshleifer, Lin Peng and Yi Tang
Georgetown University - Robert Emmett McDonough School of Business, University of California, Irvine - Paul Merage School of Business, City University of New York, Baruch College - Zicklin School of Business - Department of Economics and Finance and Fordham University - Gabelli School of Business
Downloads 763 (38,606)
Citation 21

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Preference for lottery-like stocks, investor attention, social interactions, social network, MAX, skewness, retail investors

47.

A Theory of Costly Sequential Bidding

Ross School of Business Paper No. 98028
Number of pages: 41 Posted: 17 Aug 1999 Last Revised: 25 Feb 2019
Kent D. Daniel and David A. Hirshleifer
Columbia Business School - Finance and Economics and University of California, Irvine - Paul Merage School of Business
Downloads 733 (40,801)
Citation 36

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takeovers, auctions, sequential bidding, revenue equivalence

48.

Disclosure to an Audience with Limited Attention

Number of pages: 49 Posted: 15 Oct 2004
David A. Hirshleifer, Sonya S. Lim and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, DePaul University - Department of Finance and University of California, Irvine - Accounting Area
Downloads 731 (40,964)
Citation 31

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Disclosure policy, disclosure regulation, limited attention, behavioral economics, behavioral accounting, behavioral finance, market efficiency, psychology and economics

49.

Overvalued Equity and Financing Decisions

Number of pages: 60 Posted: 30 Jun 2011 Last Revised: 26 Jul 2012
Ming Dong, David A. Hirshleifer and Siew Hong Teoh
York University - Schulich School of Business, University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area
Downloads 689 (44,356)
Citation 3

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financing decisions, equity issuance, overvalued equity, behavioral finance, market efficiency

50.

Short Arbitrage, Return Asymmetry and the Accrual Anomaly

Number of pages: 52 Posted: 20 Jun 2007 Last Revised: 09 Aug 2018
David A. Hirshleifer, Siew Hong Teoh and Jeff Jiewei Yu
University of California, Irvine - Paul Merage School of Business, University of California, Irvine - Accounting Area and University of Arizona
Downloads 676 (45,491)
Citation 23

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Accruals, anomalies, arbitrage, short sales, market efficiency

51.

Do Tender Offers Create Value? New Methods and Evidence

Dice Center Working Paper No. 2004-4
Number of pages: 64 Posted: 18 May 2004
Sanjai Bhagat, Ming Dong, David A. Hirshleifer and Robert B. Noah
University of Colorado at Boulder - Department of Finance, York University - Schulich School of Business, University of California, Irvine - Paul Merage School of Business and Cambridge Finance Partners, LLC
Downloads 664 (46,642)
Citation 48

Abstract:

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Tender offers, value improvements, truncation dilemma, revelation bias, agency

52.

Presentation Slides for American Finance Association 2020 Presidential Address: Social Transmission Bias in Economics and Finance

Number of pages: 83 Posted: 28 Jan 2020 Last Revised: 10 Sep 2020
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business
Downloads 634 (49,907)
Citation 12

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social transmission bias, social economics, social finance, behavioral economics, behavioral finance, social networks, social learning, information percolation, biased percolation, epidemiology, visibility bias, self-enhancing transmission bias, simplistic thinking, memes, cultural evolution

53.

Superstition and Financial Decision Making

Management Science, Forthcoming
Number of pages: 44 Posted: 08 Aug 2012 Last Revised: 25 Feb 2017
David A. Hirshleifer, Ming Jian and Huai Zhang
University of California, Irvine - Paul Merage School of Business, Nanyang Technological University (NTU) and Nanyang Technological University (NTU)
Downloads 615 (51,533)
Citation 12

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superstition, financial decision, IPO

54.

Presidential Address: Social Transmission Bias in Economics and Finance

Number of pages: 70 Posted: 28 Apr 2020 Last Revised: 10 Sep 2020
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business
Downloads 560 (58,274)
Citation 8

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Social Transmission Bias, Social Economics, Social Finance, Behavioral Economics, Behavioral Finance, Social Networks, Social Learning, Information Percolation, Biased Percolation, Epidemiology, Visibility Bias, Self-Enhancing Transmission Bias

55.

Fear of the Unknown: Familiarity and Economic Decisions

Number of pages: 48 Posted: 10 May 2007 Last Revised: 16 Sep 2009
H. Henry Cao, Bing Han, Harold H. Zhang and David A. Hirshleifer
University of North Carolina (UNC) at Chapel Hill - Finance Area, University of Toronto, Rotman School of Management, University of Texas at Dallas - Naveen Jindal School of Management and University of California, Irvine - Paul Merage School of Business
Downloads 538 (61,044)
Citation 33

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familiarity, model uncertainty, status quo, home bias, diversification, inertia

56.

One Brief Shining Moment(um): Past Momentum Performance and Momentum Reversals

Columbia Business School Research Paper No. 17-48
Number of pages: 40 Posted: 24 Apr 2017 Last Revised: 02 Jun 2017
Usman Ali, Kent D. Daniel and David A. Hirshleifer
Pacific Investment Management Company (PIMCO), Columbia Business School - Finance and Economics and University of California, Irvine - Paul Merage School of Business
Downloads 537 (61,160)
Citation 1

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57.

Up or Out: Resetting Norms for Peer Reviewed Publishing in the Social Sciences

Number of pages: 15 Posted: 15 Dec 2020
Campbell R. Harvey and David A. Hirshleifer
Duke University - Fuqua School of Business and University of California, Irvine - Paul Merage School of Business
Downloads 511 (65,229)

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Editing, Editorial process, Peer review, Research, Academic publishing, Innovation, Turnaround time, Refereeing, Union Heuristic, Intersection Heuristic, Up-or-out

58.

The Psychological Attraction Approach to Accounting and Disclosure Policy

Number of pages: 28 Posted: 18 Mar 2009
David A. Hirshleifer and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area
Downloads 468 (72,617)
Citation 2

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59.

Firm and Managerial Incentives to Manipulate the Timing of Project Resolution

Dice Center Working Paper No. 2001-4
Number of pages: 40 Posted: 25 Apr 2001
David A. Hirshleifer, Tarun Chordia and Sonya S. Lim
University of California, Irvine - Paul Merage School of Business, Emory University - Department of Finance and DePaul University - Department of Finance
Downloads 466 (72,980)
Citation 5

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60.

A Cross-Cultural Study of Reference Point Adaptation: Evidence from China, Korea, and the US

Organizational Behavior and Human Decision Processes, Vol. 112, No. 2, pp. 99-111, July 2010
Number of pages: 31 Posted: 12 Jul 2007 Last Revised: 11 Jun 2010
Hal R. Arkes, David A. Hirshleifer, Danling Jiang and Sonya S. Lim
Ohio State University - Department of Psychology, University of California, Irvine - Paul Merage School of Business, College of Business, Stony Brook University and DePaul University - Department of Finance
Downloads 412 (84,449)
Citation 5

Abstract:

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Prospect theory, cross-cultural differences, reference point adaptation, mental accounting, security trading

61.

Self-Enhancing Transmission Bias and Active Investing

Number of pages: 57 Posted: 02 Apr 2012 Last Revised: 05 Jun 2015
Bing Han and David A. Hirshleifer
University of Toronto, Rotman School of Management and University of California, Irvine - Paul Merage School of Business
Downloads 401 (87,391)
Citation 21

Abstract:

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social interactions, self-enhancement, active investing, behavioral finance, behavioral economics, social networks, cultural evolution

62.

Information Asymmetry, Market Participation, and Asset Prices

6th Miami Behavioral Finance Conference
Number of pages: 53 Posted: 14 Apr 2016
David A. Hirshleifer, Chong Huang and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area
Downloads 399 (87,648)
Citation 5

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capital markets, stock market participation, information costs, information risk, information asymmetry, information risk, limited awareness, investor recognition

63.

Sidelined Investors, Trading-Generated News, and Security Returns

Dice Working Paper No. 2000-2
Number of pages: 45 Posted: 10 Jul 2001
H. Henry Cao, Joshua D. Coval and David A. Hirshleifer
University of North Carolina (UNC) at Chapel Hill - Finance Area, Harvard Business School - Finance Unit and University of California, Irvine - Paul Merage School of Business
Downloads 391 (89,723)
Citation 17

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64.

Asset Pricing in Production Economies with Extrapolative Expectations

Journal of Monetary Economics, Forthcoming, AFA 2012 Chicago Meetings Paper
Number of pages: 48 Posted: 21 Mar 2011 Last Revised: 25 Sep 2015
David A. Hirshleifer, Jun Li and Jianfeng Yu
University of California, Irvine - Paul Merage School of Business, University of Texas at Dallas and Tsinghua University - PBC School of Finance
Downloads 372 (95,094)
Citation 51

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Extrapolation, long-run risk, production-based model, recursive preferences

65.

The UMO (Undervalued Minus Overvalued) Factor

Number of pages: 6 Posted: 03 Aug 2011
David A. Hirshleifer and Danling Jiang
University of California, Irvine - Paul Merage School of Business and College of Business, Stony Brook University
Downloads 362 (98,075)
Citation 1

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Misvaluation Factor, New Issues, Repurchases, External Financing, Return Predictability

66.

Reference Point Adaptation: Tests in the Domain of Security Trading

Organizational Behavior and Human Decision Processes, Vol. 105, No. 1, pp. 67-81, January 2008
Number of pages: 32 Posted: 28 Jun 2006 Last Revised: 19 Oct 2008
Hal R. Arkes, David A. Hirshleifer, Danling Jiang and Sonya S. Lim
Ohio State University - Department of Psychology, University of California, Irvine - Paul Merage School of Business, College of Business, Stony Brook University and DePaul University - Department of Finance
Downloads 347 (102,799)
Citation 12

Abstract:

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Prospect theory, Reference point, Asset pricing, Security trading

67.

Overconfident Investors, Predictable Returns, and Excessive Trading

Downloads 340 (105,214)
Citation 30

Overconfident Investors, Predictable Returns, and Excessive Trading

Journal of Economic Perspectives, Volume 29, Number 4, Fall 2015, Columbia Business School Research Paper No. 16-15
Number of pages: 37 Posted: 25 Jan 2016
Kent D. Daniel and David A. Hirshleifer
Columbia Business School - Finance and Economics and University of California, Irvine - Paul Merage School of Business
Downloads 292 (123,386)
Citation 1

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asset pricing, efficient markets, anomalies, behavioral finance, overconfidence

Overconfident Investors, Predictable Returns, and Excessive Trading

NBER Working Paper No. w21945
Number of pages: 38 Posted: 01 Feb 2016
Kent D. Daniel and David A. Hirshleifer
Columbia Business School - Finance and Economics and University of California, Irvine - Paul Merage School of Business
Downloads 48 (470,409)
Citation 8

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68.

Naïve Buying Diversification and Narrow Framing by Individual Investors

Number of pages: 83 Posted: 21 Oct 2017 Last Revised: 16 Feb 2020
John Gathergood, David A. Hirshleifer, David Leake, Hiroaki Sakaguchi and Neil Stewart
University of Nottingham - School of Economics, University of California, Irvine - Paul Merage School of Business, Independent, University of Warwick and Warwick Business School, University of Warwick
Downloads 331 (108,477)

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investor behavior, portfolio allocation, naive diversification, narrow bracketing

69.

Do Investors Learn from Experience? Evidence from Frequent IPO Investors

Review of Financial Studies, Forthcoming
Number of pages: 45 Posted: 19 Mar 2009 Last Revised: 16 Dec 2015
Yao-Min Chiang, David A. Hirshleifer, Yiming Qian and Ann E. Sherman
National Taiwan University - Department of Finance, University of California, Irvine - Paul Merage School of Business, University of Connecticut and DePaul University
Downloads 329 (109,196)
Citation 11

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IPO, auction, investor behavior, learning, reinforcement learning, institutional investor, individual investor, experience

70.

Presentation Slides for 'Investor Psychology and Security Market Under and Overreactions'

Journal of Finance, Vol. 53, No. 6, 1998
Number of pages: 42 Posted: 31 May 2018
Kent D. Daniel, David A. Hirshleifer and Avanidhar Subrahmanyam
Columbia Business School - Finance and Economics, University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA) - Finance Area
Downloads 321 (112,195)
Citation 135

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investor psychology, overconfidence, behavioral finance, overreactions, underreactions, asset pricing, anomalies, return predictability

71.

The Exploratory Mindset and Corporate Innovation

Journal of Financial and Quantitative Analysis, forthcoming
Number of pages: 87 Posted: 13 May 2019 Last Revised: 04 Sep 2020
Zhaozhao He and David A. Hirshleifer
University of New Hampshire - Department of Accounting & Finance and University of California, Irvine - Paul Merage School of Business
Downloads 312 (115,635)
Citation 1

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exploratory mindset, long-termism vs. short-termism, PhD CEOs, innovation

72.

Index Investing and Asset Pricing under Information Asymmetry and Ambiguity Aversion

Downloads 300 (120,652)

Index Investing and Asset Pricing under Information Asymmetry and Ambiguity Aversion

Number of pages: 45 Posted: 17 Jan 2017 Last Revised: 29 Sep 2019
David A. Hirshleifer, Chong Huang and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area
Downloads 280 (128,967)
Citation 1

Abstract:

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index fund, index investing, CAPM, Information Asymmetry, ambiguity aversion

Index Investing and Asset Pricing Under Information Asymmetry and Ambiguity Aversion

NBER Working Paper No. w24143
Number of pages: 45 Posted: 28 Dec 2017
David A. Hirshleifer, Chong Huang and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area
Downloads 20 (628,900)

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73.

Do Trade Creditors Possess Private Information? Evidence from Firm Performance

Number of pages: 40 Posted: 23 Dec 2018 Last Revised: 15 Jun 2020
David A. Hirshleifer, Yifan Li, Ben Lourie and Thomas Ruchti
University of California, Irvine - Paul Merage School of Business, San Francisco State University, University of California, Irvine and Carnegie Mellon University - Department of Accounting
Downloads 284 (127,732)
Citation 1

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trade credit, non-bank lending, customer–supplier relationships, stock returns, private information, supply chain

74.

Stock Market Overvaluation, Moon Shots, and Corporate Innovation (Presentation Slides)

Number of pages: 54 Posted: 03 Jan 2018 Last Revised: 26 May 2018
Ming Dong, David A. Hirshleifer and Siew Hong Teoh
York University - Schulich School of Business, University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area
Downloads 283 (128,195)
Citation 4

Abstract:

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stock market misvaluation, innovation, R&D, patents, behavioral finance, market efficiency

75.

Promotion Tournaments and Capital Rationing

Downloads 281 (129,162)

Promotion Tournaments and Capital Rationing

Review of Financial Studies, Forthcoming , Dice Center Working Paper No. 2005-20
Number of pages: 47 Posted: 16 Nov 2005 Last Revised: 19 Oct 2008
Bing Han, David A. Hirshleifer and John C. Persons
University of Toronto, Rotman School of Management, University of California, Irvine - Paul Merage School of Business and Independent
Downloads 281 (128,507)
Citation 1

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promotion, tournaments, capital rationing, conglomerate, career concerns, managerial overconfidence

Promotion Tournaments and Capital Rationing

The Review of Financial Studies, Vol. 22, No. 1, pp. 219-255, 2009
Posted: 03 Jan 2009
Bing Han, David A. Hirshleifer and John C. Persons
University of Toronto, Rotman School of Management, University of California, Irvine - Paul Merage School of Business and Independent

Abstract:

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G30, G31, G39

76.

Social Transmission Bias and Investor Behavior

Forthcoming Journal of Financial and Quantitative Analysis
Number of pages: 42 Posted: 22 Sep 2015 Last Revised: 29 Jul 2020
Bing Han, David A. Hirshleifer and Johan Walden
University of Toronto, Rotman School of Management, University of California, Irvine - Paul Merage School of Business and University of Lausanne
Downloads 269 (135,154)
Citation 12

Abstract:

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social interaction, transmission bias, active investing, networks, thought contagion, behavioral finance

77.

Visibility Bias in the Transmission of Consumption Beliefs and Undersaving

Downloads 228 (159,149)
Citation 5

Visibility Bias in the Transmission of Consumption Beliefs and Undersaving

Rotman School of Management Working Paper No. 2798638
Number of pages: 64 Posted: 23 Jun 2016 Last Revised: 02 Nov 2020
Bing Han, David A. Hirshleifer and Johan Walden
University of Toronto, Rotman School of Management, University of California, Irvine - Paul Merage School of Business and University of Lausanne
Downloads 220 (164,364)
Citation 3

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visibility bias, overconsumption, saving, behavioral economics, social influence, social learning

Visibility Bias in the Transmission of Consumption Beliefs and Undersaving

NBER Working Paper No. w25566
Number of pages: 65 Posted: 19 Feb 2019
Bing Han, David A. Hirshleifer and Johan Walden
University of Toronto, Rotman School of Management, University of California, Irvine - Paul Merage School of Business and University of Lausanne
Downloads 8 (722,596)
Citation 1

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78.

Taking the Road Less Traveled by: Does Conversation Eradicate Pernicious Cascades?

Merage School of Business Working Paper, University of California, Irvine
Number of pages: 28 Posted: 22 Aug 2003 Last Revised: 31 Jul 2018
H. Henry Cao, Bing Han and David A. Hirshleifer
University of North Carolina (UNC) at Chapel Hill - Finance Area, University of Toronto, Rotman School of Management and University of California, Irvine - Paul Merage School of Business
Downloads 215 (168,248)
Citation 4

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information cascades, herding, conversation, imitation, information externality

79.

Style as an Attention Technology

Journal of Bioeconomics, 2009
Number of pages: 7 Posted: 20 Mar 2006 Last Revised: 13 Dec 2008
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business
Downloads 204 (176,799)

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attention, style, technology

80.

Systemic Risk, Coordination Failures, and Preparedness Externalities: Applications to Tax and Accounting Policy

Number of pages: 17 Posted: 22 Aug 2009 Last Revised: 02 Sep 2009
Siew Hong Teoh and David A. Hirshleifer
University of California, Irvine - Accounting Area and University of California, Irvine - Paul Merage School of Business
Downloads 196 (183,420)
Citation 2

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regulation, taxation, systemic risk, risk management, preparedness externalities

81.

Informational Cascades and Social Conventions

THE NEW PALGRAVE DICTIONARY OF ECONOMICS AND THE LAW, May 1988, University of Michigan Business School Working Paper No. 9705-10
Number of pages: 24 Posted: 05 Oct 2008 Last Revised: 29 Sep 2009
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business
Downloads 185 (193,243)

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82.

Presentation Slides for 'Can Individual Investors Beat the Market?'

Number of pages: 15 Posted: 08 Aug 2018
Joshua D. Coval, David A. Hirshleifer and Tyler Shumway
Harvard Business School - Finance Unit, University of California, Irvine - Paul Merage School of Business and University of Michigan at Ann Arbor, The Stephen M. Ross School of Business
Downloads 176 (201,851)
Citation 8

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Individual Investors, Market Efficiency, Performance Persistence

83.

Are Overconfident CEOs Better Innovators? (Presentation Slides)

Journal of Finance (2012)
Number of pages: 31 Posted: 15 Jun 2018
David A. Hirshleifer, Angie Low and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, Nanyang Technological University - Division of Banking & Finance and University of California, Irvine - Accounting Area
Downloads 176 (201,851)
Citation 139

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CEO Overconfidence, Innovation, R&D, Patent

84.

Bringing Evolutionary Thinking into Economics and Finance: Advice for an Aspiring Economist

Number of pages: 8 Posted: 06 Oct 2020
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business
Downloads 171 (206,934)

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evolution, economics, finance, behavioral economics, behavioral finance, new evolutionary finance, cultural evolution

85.

Social Transmission Bias and Active Investing

HKUST Finance Symposium 2016: Active Investing and Arbitrage Capital, Rotman School of Management Working Paper No. 2897801
Number of pages: 59 Posted: 11 Jan 2017
Bing Han and David A. Hirshleifer
University of Toronto, Rotman School of Management and University of California, Irvine - Paul Merage School of Business
Downloads 171 (206,934)

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capital markets, active investing, thought contagion, transmission bias, behavioral contagion, social in uence, behavioral nance, sending schedule, receiving schedule, popular models, memes

86.

Presentation Slides for 'Innovative Originality, Profitability, and Stock Returns'

Review of Financial Studies, Forthcoming
Number of pages: 32 Posted: 15 Jun 2018
David A. Hirshleifer, Po-Hsuan Hsu and Dongmei Li
University of California, Irvine - Paul Merage School of Business, National Tsing Hua University - Department of Quantitative Finance and University of South Carolina - Darla Moore School of Business - Department of Finance
Downloads 165 (213,184)

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Limited attention, Market efficiency, Processing fluency, Innovative originality, Complexity, Ambiguity aversion

87.

Attention, Psychological Bias, and Social Interactions (Presentation Slides, for Finance Theory Group Wharton Summer School (Long Version))

Number of pages: 112 Posted: 11 Oct 2019
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business
Downloads 154 (225,992)

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limited attention, behavioral finance, behavioral economics, social influence, transmission bias, anomalies, consumption, saving, investing

88.

(Presentation Slides) The Causal Effect of Limits to Arbitrage on Asset Pricing Anomalies

Number of pages: 28 Posted: 21 Aug 2018
Yongqiang Chu, David A. Hirshleifer and Liang Ma
Belk College of Business, UNC Charlotte, University of California, Irvine - Paul Merage School of Business and University of South Carolina - Darla Moore School of Business
Downloads 151 (229,657)

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Limits to Arbitrage, Anomalies, Short Sale Constraints, Regulation SHO

89.

Social Transmission Bias and the Cultural Evolution of Folk Economic Beliefs

Number of pages: 5 Posted: 02 Apr 2018
David A. Hirshleifer and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area
Downloads 148 (233,437)
Citation 2

Abstract:

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folk economic beliefs, social transmission bias, cultural evolution

90.

(Presentation Slides) Investor Overconfidence, Covariance Risk, and Predictors of Securities Returns

Number of pages: 60 Posted: 21 Aug 2018
Kent D. Daniel, David A. Hirshleifer and Avanidhar Subrahmanyam
Columbia Business School - Finance and Economics, University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA) - Finance Area
Downloads 146 (235,964)
Citation 8

Abstract:

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investor psychology, asset pricing, arbitrage, overconfidence, behavioral finance, misvaluation, risk, expected returns

91.

The FIN and PEAD Factors: Motivation, Construction, and Availability

Number of pages: 6 Posted: 06 Oct 2020
Kent D. Daniel, David A. Hirshleifer and Lin Sun
Columbia Business School - Finance and Economics, University of California, Irvine - Paul Merage School of Business and George Mason University - Department of Finance
Downloads 144 (240,016)

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Factor Models, Behavioral Factors

92.

Social Finance: Cultural Evolution, Transmission Bias and Market Dynamics

Number of pages: 26 Posted: 06 Oct 2020 Last Revised: 22 Dec 2020
Erol Akcay and David A. Hirshleifer
University of Pennsylvania - Department of Biology and University of California, Irvine - Paul Merage School of Business
Downloads 139 (245,582)

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social evolution, cultural evolution, financial markets, social economics, social finance, behavioral economics, behavioral finance, social learning, social influence, social transmission bias

93.

Presentation Slides for 'Investor Psychology and Asset Pricing'

Number of pages: 57 Posted: 31 May 2018
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business
Downloads 137 (248,512)
Citation 5

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investor psychology, asset pricing, behavioral finance, misvaluation, risk, heuristics and biases

94.

Opportunism as a Firm and Managerial Trait: Predicting Insider Trading Profits and Misconduct (Presentation Slides)

Number of pages: 61 Posted: 25 May 2018
Usman Ali and David A. Hirshleifer
Pacific Investment Management Company (PIMCO) and University of California, Irvine - Paul Merage School of Business
Downloads 124 (268,048)
Citation 15

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insider trading, managerial opportunism, managerial traits, misconduct, financial reporting, compensation

95.

On the Survival of Overconfident Traders in a Competitive Securities Market

Downloads 121 (272,998)
Citation 3

On the Survival of Overconfident Traders in a Competitive Securities Market

Journal of Financial Markets, Vol. 4, No. 1, pp. 73-84, January 2001
Number of pages: 22 Posted: 01 Dec 2008
Guo Ying Luo and David A. Hirshleifer
Rutgers, The State University of New Jersey - Management Science & Information Systems and University of California, Irvine - Paul Merage School of Business
Downloads 121 (274,167)
Citation 3

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survivorship, natural selection, overconfident traders, noise traders

On the Survival of Overconfident Traders in a Competitive Securities Market

Dice Working Paper No. WP 99-9
Posted: 02 Mar 2000
David A. Hirshleifer and Guo Ying Luo
University of California, Irvine - Paul Merage School of Business and Rutgers, The State University of New Jersey - Management Science & Information Systems

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96.

Presentation Slides for 'Decision Fatigue and Heuristic Analyst Forecasts'

Journal of Financial Economics (JFE), Vol. 133, No. 1, 2019
Number of pages: 26 Posted: 18 May 2020
David A. Hirshleifer, Yaron Levi, Ben Lourie and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, University of Southern California - Marshall School of Business, University of California, Irvine and University of California, Irvine - Accounting Area
Downloads 110 (292,092)

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Analysts, Decision fatigue, Heuristic, Behavioral finance

97.

Presentation Slides for 'Innovative Efficiency and Stock Returns'

Journal of Financial Economics (JFE), Vol. 107, 2013
Number of pages: 21 Posted: 15 Jun 2018
David A. Hirshleifer, Po-Hsuan Hsu and Dongmei Li
University of California, Irvine - Paul Merage School of Business, National Tsing Hua University - Department of Quantitative Finance and University of South Carolina - Darla Moore School of Business - Department of Finance
Downloads 102 (307,674)

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Innovative efficiency, Limited attention, Research and development, Market efficiency

98.

(Presentation Slides) Do Individual Investors Cause Post-Earnings Announcement Drift? Direct Evidence From Personal Trades

Number of pages: 54 Posted: 21 Aug 2018
David A. Hirshleifer, James N. Myers, Linda A. Myers and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, University of Tennessee, Knoxville - College of Business Administration, University of Tennessee, Haslam College of Business, Accounting and Information Management and University of California, Irvine - Accounting Area
Downloads 101 (309,705)
Citation 4

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Earnings Anomalies, Post-Earnings Announcement Drift, Market Efficiency, Trading Activity, Individual Investors, Investor Sophistication

99.

Attention, Psychological Bias, and Social Interactions (Presentation Slides, for Finance Theory Group Wharton Summer School)

Number of pages: 92 Posted: 11 Oct 2019
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business
Downloads 99 (313,727)

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limited attention, behavioral finance, behavioral economics, social influence, transmission bias, anomalies, consumption, saving, investing

100.

Shared Analyst Coverage: Unifying Momentum Spillover Effects (Internet Appendix)

Number of pages: 3 Posted: 12 Jun 2019
Usman Ali and David A. Hirshleifer
Pacific Investment Management Company (PIMCO) and University of California, Irvine - Paul Merage School of Business
Downloads 80 (357,986)

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momentum spillovers, cross-asset momentum, CF momentum, linked firms, analyst co-coverage

101.

Social Transmission Bias and Investor Behavior

NBER Working Paper No. w24281
Number of pages: 43 Posted: 05 Feb 2018
Bing Han, David A. Hirshleifer and Johan Walden
University of Toronto, Rotman School of Management, University of California, Irvine - Paul Merage School of Business and University of Lausanne
Downloads 75 (371,541)

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102.

Overvalued Equity and Financing Decisions (Presentation Slides)

Number of pages: 35 Posted: 26 May 2018
Ming Dong, David A. Hirshleifer and Siew Hong Teoh
York University - Schulich School of Business, University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area
Downloads 73 (377,207)
Citation 13

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financing decisions, equity issuance, overvalued equity, behavioral finance, market efficiency

103.

(Presentation Slides) Do Short-Sellers Arbitrage the Accrual Anomaly?

Number of pages: 47 Posted: 21 Aug 2018
David A. Hirshleifer, Siew Hong Teoh and Jeff Jiewei Yu
University of California, Irvine - Paul Merage School of Business, University of California, Irvine - Accounting Area and University of Arizona
Downloads 69 (389,022)

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accruals, anomalies, arbitrage, short sales, market efficiency

104.

Moonshots, Investment Booms, and Selection Bias in the Transmission of Cultural Traits

Downloads 67 (395,145)

Moonshots, Investment Booms, and Selection Bias in the Transmission of Cultural Traits

Number of pages: 28 Posted: 06 Oct 2020 Last Revised: 08 Jan 2021
David A. Hirshleifer and Joshua Plotkin
University of California, Irvine - Paul Merage School of Business and University of Pennsylvania
Downloads 65 (406,635)

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Cultural Evolution, Evolutionary Finance, Biased Censorship, Irrational Behavior, Price Equation, Mutation Pressure

Moonshots, Investment Booms, and Selection Bias in the Transmission of Cultural Traits

NBER Working Paper No. w27735
Number of pages: 30 Posted: 31 Aug 2020
David A. Hirshleifer and Joshua Plotkin
University of California, Irvine - Paul Merage School of Business and University of Pennsylvania
Downloads 2 (776,395)
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105.

Presentation Slides for 'Limited Attention, Information Disclosure, and Financial Reporting'

Number of pages: 27 Posted: 08 Aug 2018
David A. Hirshleifer and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area
Downloads 65 (401,443)
Citation 14

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limited attention, behavioral accounting, investor psychology, capital markets, accounting regulation, disclosure, market efficiency

106.

Presentation Slides for 'The Psychological Attraction Approach to Accounting and Disclosure Policy'

Number of pages: 59 Posted: 04 Feb 2019
David A. Hirshleifer and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area
Downloads 63 (407,978)
Citation 2

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psychological attraction, accounting policy, disclosure, financial regulation, behavioral accounting, behavioral finance

107.

Presentation Slides for 'Driven to Distraction: Extraneous Events and Underreaction to Earnings News'

Number of pages: 27 Posted: 19 Jun 2018
David A. Hirshleifer, Sonya S. Lim and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, DePaul University - Department of Finance and University of California, Irvine - Accounting Area
Downloads 61 (414,484)

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limited attention, behavioral finance, investor psychology, capital markets, post-earnings announcement drift, market efficiency

108.

A Theory of Costly Sequential Bidding (Presentation Slides)

Forthcoming, Review of Finance, March 2018
Number of pages: 34 Posted: 31 May 2018 Last Revised: 29 Jul 2018
David A. Hirshleifer and Kent D. Daniel
University of California, Irvine - Paul Merage School of Business and Columbia Business School - Finance and Economics
Downloads 61 (414,484)
Citation 1

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sequential bidding, auctions, takeover bidding, revenue equivalence

109.

Uncertainty and Trading Strategies of Institutional Investors

Number of pages: 56 Posted: 20 Mar 2009
Itzhak Ben-David, John A. Doukas and David A. Hirshleifer
Ohio State University (OSU) - Department of Finance, Old Dominion University - Strome College of Business and University of California, Irvine - Paul Merage School of Business
Downloads 60 (417,920)
Citation 2

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Institutional investors, Trading volume, Overconfidence, Disposition effect, Uncertainty, Ambiguity, Investment strategies

110.

Presentation Slides for 'Are Investors Really Reluctant to Realize Their Losses? Trading Responses to Past Returns and the Disposition Effect'

Number of pages: 44 Posted: 08 Aug 2018
Itzhak Ben-David and David A. Hirshleifer
Ohio State University (OSU) - Department of Finance and University of California, Irvine - Paul Merage School of Business
Downloads 47 (466,154)
Citation 1

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disposition effect, realization preference, loss avoidance, loss aversion, prospect theory, individual investors

111.

Mood Betas and Seasonalities in Stock Returns

NBER Working Paper No. w24676
Number of pages: 62 Posted: 13 Jun 2018 Last Revised: 04 Dec 2020
David A. Hirshleifer, Danling Jiang and Yuting Meng
University of California, Irvine - Paul Merage School of Business, College of Business, Stony Brook University and University of South Florida - Department of Finance
Downloads 34 (525,092)
Citation 1

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112.

Herd Behaviour and Cascading in Capital Markets: A Review and Synthesis

Number of pages: 42 Posted: 18 Mar 2003
David A. Hirshleifer and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area
Downloads 34 (525,092)
Citation 11
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Herd Behaviour, Informational Cascades, Social Learning, Analyst Herding, Capital Markets, Financial Reporting, Behavioral Finance, Investor Psychology, Market Efficiency

113.

Shared Analyst Coverage: Unifying Momentum Spillover Effects

NBER Working Paper No. w25201
Number of pages: 55 Posted: 29 Oct 2018
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business
Downloads 25 (575,883)

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114.

Cosmetic Surgery: Reviewer Signal-Jamming and Compulsory Embellishment in the Publication Process (Presentation Slides)

Number of pages: 27 Posted: 20 Aug 2018
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business
Downloads 25 (575,883)

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cosmetic surgery, review process, publication process, publication delay, academic journals, sociology of science, signal-jamming, reputation, information asymmetry

115.

Do Trade Creditors Possess Private Information? Stock Returns Evidence

NBER Working Paper No. w25553
Number of pages: 50 Posted: 19 Feb 2019
David A. Hirshleifer, Yifan Li, Ben Lourie and Thomas Ruchti
University of California, Irvine - Paul Merage School of Business, San Francisco State University, University of California, Irvine and Carnegie Mellon University - Department of Accounting
Downloads 21 (601,891)

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116.

(Presentation Slides) Taking the Road Less Traveled by: Does Conversation Eradicate Pernicious Cascades?

Number of pages: 38 Posted: 21 Aug 2018
H. Henry Cao and David A. Hirshleifer
University of North Carolina (UNC) at Chapel Hill - Finance Area and University of California, Irvine - Paul Merage School of Business
Downloads 20 (608,549)
Citation 1

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information cascades, herding, conversation, imitation, information externality

117.

Naïve *Buying* Diversification and Narrow Framing by Individual Investors

NBER Working Paper No. w25567
Number of pages: 84 Posted: 19 Feb 2019
John Gathergood, David A. Hirshleifer, David Leake, Hiroaki Sakaguchi and Neil Stewart
University of Nottingham - School of Economics, University of California, Irvine - Paul Merage School of Business, Lloyds Banking Group, University of Warwick and Warwick Business School, University of Warwick
Downloads 17 (628,838)
Citation 1

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118.

New Evolutionary Finance: Social Transmission Bias and Cultural Evolution in Financial Markets

NBER Working Paper No. w27745
Number of pages: 27 Posted: 31 Aug 2020
Erol Akcay and David A. Hirshleifer
University of Pennsylvania - Department of Biology and University of California, Irvine - Paul Merage School of Business
Downloads 6 (709,129)
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119.

Social Networks and Market Reactions to Earnings News

Number of pages: 83
David A. Hirshleifer, Lin Peng and Qiguang Wang
University of California, Irvine - Paul Merage School of Business, City University of New York, Baruch College - Zicklin School of Business - Department of Economics and Finance and Hong Kong Baptist University (HKBU)
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Social Networks, Investor Attention, Earnings Announcement, Information Diffusion, Disagreement

120.

Residual Risk, Trading Costs and Commodity Futures Risk Premia

Review of Financial Studies, Vol. 2, pp. 173-193, Summer 1988
Posted: 03 Dec 2008
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business

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121.

Cooperation in a Repeated Prisoners' Dilemma with Ostracism

Journal of Economic Behavior and Organization, Vol. 12, No. 1, pp. 87-106, August 1989
Posted: 01 Dec 2008
Eric Bennett Rasmusen and David A. Hirshleifer
Indiana University - Kelley School of Business - Department of Business Economics & Public Policy and University of California, Irvine - Paul Merage School of Business

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122.

Overconfidence, Arbitrage, and Equilibrium Asset Pricing

Journal of Finance, Vol. 56, No. 3, pp. 921-965, June 2001
Posted: 01 Dec 2008
Kent D. Daniel, David A. Hirshleifer and Avanidhar Subrahmanyam
Columbia Business School - Finance and Economics, University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA) - Finance Area

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123.

Investor Psychology and Security Market Under- and Over-Reactions

Journal of Finance, Vol. 53, No. 6, pp. 1839-1885, December 1998 , THE INTERNATIONAL LIBRARY OF CRITICAL WRITINGS IN FINANCIAL ECONOMICS, Hersh Shefrin, ed., Edward Elgar Publishers, 2002, ADVANCES IN BEHAVIORAL FINANCE II, Richard Thaler, ed., Princeton, 2002
Posted: 01 Dec 2008 Last Revised: 15 Aug 2014
Kent D. Daniel, David A. Hirshleifer and Avanidhar Subrahmanyam
Columbia Business School - Finance and Economics, University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA) - Finance Area

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124.

Price Discrimination Through Offers to Match Price

Journal of Business, Vol. 60, No. 3, pp. 365-383, July 1987
Posted: 01 Dec 2008
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business

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125.

Risk, Futures Pricing, and the Organization of Production in Commodity Markets

Journal of Political Economy, 96(6), December (1988):1206-1220.
Posted: 01 Dec 2008
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business

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126.

Futures Trading, Storage and the Division of Risk: A Multiperiod Analysis

Economic Journal, Vol. 99, No. 397, pp. 700-719, September 1989
Posted: 01 Dec 2008
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business

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127.

Determinants of Hedging and Risk Premia in Commodity Futures Markets

Journal of Financial and Quantitative Analysis (JFQA), Vol. 24, No. 3, pp. 313-331, September 1989
Posted: 01 Dec 2008
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business

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128.

Hedging Pressure and Futures Price Movements in a General Equilibrium Model

THE THEORY OF FUTURE MARKETS, P. Weller, ed., Blackwell Publishers, Oxford, UK and Cambridge MA, 1992, Econometrica Vol. 58, No. 2, pp. 411-458, 1990
Posted: 01 Dec 2008
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business

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129.

Seasonal Patterns of Futures Hedging and the Resolution of Output Uncertainty

Journal of Economic Theory, Vol. 3, No. 2, pp. 304-327, April 1991
Posted: 01 Dec 2008
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business

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130.

Corporate Control and Majority Positions

Cuadernos Economicos de ICE, Vol. 50, No. 1, pp. 175-201, 1992
Posted: 01 Dec 2008
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business

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131.

Risk, Managerial Effort and Project Choice

[1] Journal of Financial Intermediation, (3), (1992):308-45. [2] The Theory of Corporate Finance, Vol. 1, M.J. Brennan editor, Edward Elgar Publishers, Cheltenham, UK, 1996, pp. 419-58., Journal of Financial Intermediation, Vol. 3, 1992
Posted: 01 Dec 2008
David A. Hirshleifer and Yoon Suh
University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA) - Accounting Area

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132.

Futures Versus Share Contracting as Alternatives for Diversifying Output Risk

Economic Journal, Vol. 103, pp. 620-639, May 1993
Posted: 01 Dec 2008
David A. Hirshleifer and Avanidhar Subrahmanyam
University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA) - Finance Area

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133.

Managerial Reputation and Corporate Investment Decisions

Financial Management, Vol. 22, No. 2, pp. 145-160, Summer 1993
Posted: 01 Dec 2008
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business

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134.

Corporate Control Through Board Dismissals and Takeovers

Journal of Economics and Management Strategy, Vol. 7, No. 4, pp. 489-520, 1998
Posted: 01 Dec 2008
David A. Hirshleifer and Anjan V. Thakor
University of California, Irvine - Paul Merage School of Business and Washington University, Saint Louis - John M. Olin School of Business

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135.

Herding and Cascading in Capital Markets: A Review and Synthesis

European Financial Management, Vol. 9, No. 1, pp. 25-66, March 2003
Posted: 01 Dec 2008
David A. Hirshleifer and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area

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136.

Share Tendering Strategies and the Success of Hostile Takeover Bids

Journal of Political Economy, Vol. 98, No. 2, pp. 295-324, April 1990
Posted: 01 Dec 2008
Sheridan Titman and David A. Hirshleifer
University of Texas at Austin - Department of Finance and University of California, Irvine - Paul Merage School of Business

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137.

Managerial Conservatism, Project Choice and Debt

Review of Financial Studies, Vol. 5, No. 3, pp. 437-470, 1992
Posted: 01 Dec 2008
Anjan V. Thakor and David A. Hirshleifer
Washington University, Saint Louis - John M. Olin School of Business and University of California, Irvine - Paul Merage School of Business

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138.

Managerial Performance, Boards of Directors and Takeover Bidding

Journal of Corporate Finance, Vol. 1, No. 1, pp. 63-90, 1994
Posted: 01 Dec 2008
Anjan V. Thakor and David A. Hirshleifer
Washington University, Saint Louis - John M. Olin School of Business and University of California, Irvine - Paul Merage School of Business

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139.

Sidelined Investors, Trading-Generated News, and the Conditional Moments of Stock Returns

Review of Financial Studies, Vol. 15, No. 2, pp. 615-648, 2002
Posted: 01 Dec 2008
H. Henry Cao, Joshua D. Coval and David A. Hirshleifer
University of North Carolina (UNC) at Chapel Hill - Finance Area, Harvard Business School - Finance Unit and University of California, Irvine - Paul Merage School of Business

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140.

Facilitation of Competing Bids and the Price of a Takeover Target

Review of Financial Studies, Vol. 2, No. 4, pp. 587-606, 1989
Posted: 01 Dec 2008
Ivan P. L. Png and David A. Hirshleifer
National University of Singapore (NUS) and University of California, Irvine - Paul Merage School of Business

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141.

Learning from the Behavior of Others: Conformity, Fads, and Informational Cascades

Journal of Economic Perspectives, Vol. 12, No. 3, pp. 151-70, Summer 1998
Posted: 01 Dec 2008
Sushil Bikhchandani, David A. Hirshleifer and Ivo Welch
University of California, Los Angeles - Anderson School of Management, University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA)

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142.

Decisions Without Blinders

Harvard Business Review, Vol. 84, No. 4, April 2006
Posted: 19 Oct 2008
David A. Hirshleifer and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area

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143.

Price Theory and Applications: Decisions, Markets, and Information

Cambridge University Press, No. 7, 2005
Posted: 14 Oct 2008
Jack Hirshleifer, Amihai Glazer and David A. Hirshleifer
affiliation not provided to SSRN, University of California, Irvine - Department of Economics and University of California, Irvine - Paul Merage School of Business

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144.

Takeovers

THE NEW PALGRAVE DICTIONARY OF MONEY AND FINANCE, 1993
Posted: 05 Oct 2008 Last Revised: 29 Sep 2009
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business

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145.

Mergers and Acquisitions: Strategic and Informational Issues

NORTH HOLLAND HANDBOOKS IN OPERATIONS RESEARCH AND MANAGEMENT SCIENCE: FINANCE, Vol. 9, pp. 839-887, 1995
Posted: 05 Oct 2008 Last Revised: 19 Oct 2008
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business

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146.

The Blurring of Boundaries between Financial Institutions and Markets

Journal of Financial Intermediation, Vol. 10, Nos. 3/4, pp.272-275, 2001
Posted: 05 Oct 2008 Last Revised: 29 Sep 2009
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business

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147.

Reputation, Incentives, and Managerial Decision

THE NEW PALGRAVE DICTIONARY OF MONEY AND FINANCE, Ch. 26, pp. 332-337, 1992
Posted: 05 Oct 2008 Last Revised: 19 Oct 2008
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business

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148.

Deception and Self-Deception in Capital Markets

DECEPTION IN MARKETS, Caroline Gerschlager, ed., pp. 131-169, Palgrave Macmillan/U.K, 2005
Posted: 05 Oct 2008 Last Revised: 29 Sep 2009
Joshua D. Coval, David A. Hirshleifer and Siew Hong Teoh
Harvard Business School - Finance Unit, University of California, Irvine - Paul Merage School of Business and University of California, Irvine - Accounting Area

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149.

Information Cascades

THE NEW PALGRAVE DICTIONARY OF ECONOMICS, Second Edition, Steven N. Durlauf and Lawrence E. Blume, eds., Palgrave Macmillan/U.K., 2008
Posted: 05 Oct 2008 Last Revised: 29 Sep 2009
Sushil Bikhchandani, David A. Hirshleifer and Ivo Welch
University of California, Los Angeles - Anderson School of Management, University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA)

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150.

Information Cascades; Entry Written for the New Palgrave Dictionary of Economics

Posted: 14 Nov 2005
Sushil Bikhchandani, David A. Hirshleifer and Ivo Welch
University of California, Los Angeles - Anderson School of Management, University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA)

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information cascades, information aggregation, social learning, cultural evolution

151.

Security Analysis and Trading Patterns When Some Investors Receive Information Before Others

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Security Analysis and Trading Patterns When Some Investors Receive Information Before Others

Journal of Finance, Vol. 49, No. 5, pp. 1665-1698, December 1994
Posted: 01 Dec 2008
Avanidhar Subrahmanyam, Sheridan Titman and David A. Hirshleifer
University of California, Los Angeles (UCLA) - Finance Area, University of Texas at Austin - Department of Finance and University of California, Irvine - Paul Merage School of Business

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Security Analysis and Trading Patterns When Some Investors Receive Information Before Others

Anderson Graduate School of Management Working Paper at UCLA Number 7-93
Posted: 14 Sep 1999
David A. Hirshleifer, Avanidhar Subrahmanyam and Sheridan Titman
University of California, Irvine - Paul Merage School of Business, University of California, Los Angeles (UCLA) - Finance Area and University of Texas at Austin - Department of Finance

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152.

Institutional Memory, Inertia, and Impulsiveness

Posted: 02 Sep 1999
David A. Hirshleifer and Ivo Welch
University of California, Irvine - Paul Merage School of Business and University of California, Los Angeles (UCLA)

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153.

Do Takeovers Increase Value? An Intervention Approach

Posted: 11 Jul 1997
Sanjai Bhagat and David A. Hirshleifer
University of Colorado at Boulder - Department of Finance and University of California, Irvine - Paul Merage School of Business

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154.

Market-Based Estimates of Value Gains from Takeovers: An Intervention Approach

Posted: 24 Feb 1997
Sanjai Bhagat and David A. Hirshleifer
University of Colorado at Boulder - Department of Finance and University of California, Irvine - Paul Merage School of Business

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Other Papers (1)

Total Downloads: 36
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1.

Editorial: Cosmetic Surgery in the Academic Review Process

Number of pages: 15 Posted: 11 Dec 2014
David A. Hirshleifer
University of California, Irvine - Paul Merage School of Business
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cosmetic surgery, review process, publication process, publication delay, academic journals, sociology of science, signal-jamming, reputation, information asymmetry