博彩平台

讲座主题：The World Price of Reference-dependent Preferences

讲座时间：2021年12月9日 11:00 – 12:30

讲座地点：东校区财科馆301会议室

讲座简介：

We find that the relationship between reference-dependent preferences (RDP) and future stock returns hinges on national culture. While the positive pricing of RDP dominates worldwide, cultural differences explain the cross-market variation in this relationship. Consistent with the notion that risk-seeking for losses and risk-aversion for gains are stronger in more individualistic markets, RDP is positively priced only in markets with high individualism. RDP is also essential in explaining volatility- and skewness-related anomalies around the world. Moreover, we find that the impact of national culture on these anomalies is concentrated among stocks with large capital losses in markets with high individualism.

报告人简介：祝赵波博士

Dr. Zhu is the Assistant Professor of Finance at Shenzhen Audencia Business School at Shenzhen University in China, and Audencia Business School in France. Dr. Zhu received Ph.D. in Finance from Old Dominion University in 2016 and MBA from Louisiana State University at Baton Rouge in the USA in 2011. His main research interests are empirical asset pricing, behavioral finance, macro finance, and fintech. He has published 15 papers in elite academic journals such as Journal of Economic Dynamics and Control, Financial Management, Journal of Empirical Finance, and Journal of Portfolio Management, and so on. His papers won several best paper awards in international academic conferences.

深大微众金融科技学院、深圳大学深圳南特博彩平台 助理教授，美国欧道明大学金融学博士、美国肯特州立大学经济学硕士、美国路易斯安娜州立大学MBA。研究方向主要包括实证资产定价、行为金融学、卖空、套利局限、基本面分析、资产组合管理以及风险管理。曾就职于美国路易斯安娜州立大学证券市场分析与交易研究实验室，并有丰富的金融与经济学的研究和教学经验。