Header

UZH-Logo

Maintenance Infos

Social interaction at work


Östberg, Per Nils Anders; Hvide, Hans K (2015). Social interaction at work. Journal of Financial Economics, 117(3):628-652.

Abstract

Stock market investment decisions of individuals are positively correlated with that of co-workers. Sorting of unobservably similar individuals to the same workplaces is unlikely to explain our results, as evidenced by the investment behavior of individuals that move between plants. Purchases made under stronger co-worker purchase activity are not associated with higher returns. Moreover, social interaction appears to drive the purchase of within-industry stocks; an investment mistake. Overall, our results suggest a strong influence of co-workers on investment choices, but not an influence that improves the quality of investment decisions.

Abstract

Stock market investment decisions of individuals are positively correlated with that of co-workers. Sorting of unobservably similar individuals to the same workplaces is unlikely to explain our results, as evidenced by the investment behavior of individuals that move between plants. Purchases made under stronger co-worker purchase activity are not associated with higher returns. Moreover, social interaction appears to drive the purchase of within-industry stocks; an investment mistake. Overall, our results suggest a strong influence of co-workers on investment choices, but not an influence that improves the quality of investment decisions.

Statistics

Citations

2 citations in Web of Science®
3 citations in Scopus®
Google Scholar™

Altmetrics

Downloads

3 downloads since deposited on 23 Nov 2015
0 downloads since 12 months
Detailed statistics

Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Banking and Finance
Dewey Decimal Classification:330 Economics
Language:English
Date:1 September 2015
Deposited On:23 Nov 2015 14:20
Last Modified:05 Apr 2016 19:33
Publisher:Elsevier
ISSN:0304-405X
Publisher DOI:https://doi.org/10.1016/j.jfineco.2015.06.004
Other Identification Number:merlin-id:11664

Download

Preview Icon on Download
Content: Accepted Version
Filetype: PDF - Registered users only until 30 September 2019
Size: 708kB
View at publisher
Embargo till: 2019-09-30

TrendTerms

TrendTerms displays relevant terms of the abstract of this publication and related documents on a map. The terms and their relations were extracted from ZORA using word statistics. Their timelines are taken from ZORA as well. The bubble size of a term is proportional to the number of documents where the term occurs. Red, orange, yellow and green colors are used for terms that occur in the current document; red indicates high interlinkedness of a term with other terms, orange, yellow and green decreasing interlinkedness. Blue is used for terms that have a relation with the terms in this document, but occur in other documents.
You can navigate and zoom the map. Mouse-hovering a term displays its timeline, clicking it yields the associated documents.

Author Collaborations