Patterns of behavior of professionally managed and independent investors

Shapira, Zur; Venezia, Itzhak

doi:10.1016/s0378-4266(00)00139-4

Cited by 699Financial Markets and Investment StrategiesDecision-Making and Behavioral EconomicsCorporate Finance and Governance

Patterns of behavior of professionally managed and independent investors

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Shapira, Zur, Venezia, Itzhak·2001·Journal of Banking & Finance

DOI 10.1016/s0378-4266(00)00139-4

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Professionally-managed portfolios exhibit weaker disposition effects than portfolios of self-directed retail investors.
“It could be shown that professionally-managed portfolios are better diversified (Bluethgen et al. 2008;Gerhardt and Hackethal 2009) and exhibit weaker disposition effects (Shapira and Venezia 2001) than portfolios of self-directed retail investors.”
From Financial literacy, financial advice, and financial behavior (2017) · cites this paper as Shapira and Venezia 2001

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“2008; Gerhardt and Hackethal 2009) and exhibit weaker disposition effects (Shapira and Venezia 2001) than portfolios of self-directed retail investors.”
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Authors: Shapira, Z., & Venezia, I.
Affiliations: New York University (US)
University of Southern California (US)
Corresponding author: Venezia, Itzhak
ORCID: Venezia, Itzhak
Venue: Journal of Banking & Finance
Publisher: Elsevier BV
Published: 2001-08
Volume: 25
Issue: 8
Pages: 1573-1587
ISSN: 0378-4266 (ISSN-L)
DOI: 10.1016/s0378-4266(00)00139-4
OpenAlex: W3121422576
Cited by: 699
References: 41
Citations by year: 2026: 10 · 2025: 17 · 2024: 52 · 2023: 28 · 2022: 21 · 2021: 25 · 2020: 25 · 2019: 34 · 2018: 44 · 2017: 23 · 2016: 31 · 2015: 33 · 2014: 29 · 2013: 23 · 2012: 47
FWCI: 22.14
Type: journal article
Language: en
Open access: green
doi.org
Licence: www.elsevier.com/tdm/userlicense/1.0/ (tdm)
Locations: Journal of Banking & Finance (publishedVersion)
SSRN Electronic Journal (acceptedVersion)
RePEc: Research Papers in Economics (submittedVersion)
Topics: Social Sciences › Economics, Econometrics and Finance › Finance › Financial Markets and Investment Strategies
Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
Social Sciences › Business, Management and Accounting › Accounting › Corporate Finance and Governance
Keywords: disposition effect, investor behavior, trading frequency, trading volume, trading profitability, portfolio diversification, round trips, brokerage accounts

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