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Palgrave Macmillan

The Financial Consequences of Behavioural Biases

An Analysis of Bias in Corporate Finance and Financial Planning

  • Book
  • © 2017

Overview

Authors:
  1. Imad A. Moosa

    1. School of Economics, Finance and Marketing, RMIT, Melbourne, Australia

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    You can also search for this author in PubMed   Google Scholar

  2. Vikash Ramiah

    1. School of Commerce, UNISA, Adelaide, Australia

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    You can also search for this author in PubMed   Google Scholar

  • Features comprehensive treatment of behavioural biases
  • Provides an outlook for behavioural finance
  • Includes guidelines for profiling financial planners and corporate treasurers
  • Includes supplementary material: sn.pub/extras

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Table of contents (7 chapters)

  1. Front Matter

    Pages i-xv
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  2. The Rise and Fall of Neoclassical Finance

    • Imad A. Moosa, Vikash Ramiah
    Pages 1-25

  3. The Rise and Rise of Behavioural Finance

    • Imad A. Moosa, Vikash Ramiah
    Pages 27-44

  4. Overconfidence and Self-Serving Bias

    • Imad A. Moosa, Vikash Ramiah
    Pages 45-69

  5. Loss Aversion Bias, the Disposition Effect and Representativeness Bias

    • Imad A. Moosa, Vikash Ramiah
    Pages 71-92

  6. Other Biases in the Behavioural Finance Literature

    • Imad A. Moosa, Vikash Ramiah
    Pages 93-124

  7. Recent Developments

    • Imad A. Moosa, Vikash Ramiah
    Pages 125-150

  8. Epilogue

    • Imad A. Moosa, Vikash Ramiah
    Pages 151-162

  9. Back Matter

    Pages 163-174
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Keywords

About this book

This book provides a concise analysis of behavioural biases and their implications for financial decision making. The book is written in the normative tradition, arguing strongly for the superiority of behavioural finance with respect to explaining observed phenomena in financial markets. It offers some unique features, including a discussion of the issue of conspiracy theory and how behavioural biases lead to belief in conspiracy theories. Lingering belief in the principles of neoclassical finance is attributed in part to the doctrine of publish or perish, which dominates contemporary academia. The offshoots of behavioural finance are discussed in detail, including ecological finance, environmental finance, social finance, experimental finance, neurofinance, and emotional finance. A comprehensive discussion of narcissism is presented where it is demonstrated that narcissistic behaviour is prevalent in the finance industry and that it led to the eruption of the global financial crisis.


Authors and Affiliations

  • School of Economics, Finance and Marketing, RMIT, Melbourne, Australia

    Imad A. Moosa

  • School of Commerce, UNISA, Adelaide, Australia

    Vikash Ramiah

About the authors

Imad A. Moosa is Professor of Finance at RMIT University, Australia. Before coming to academia, he worked in investment banking for a period of ten years. He has published extensively in both economics and finance.


Vikash Ramiah is Associate Professor of Finance at the University of South Australia. He has published extensively in behavioural and environmental finance, and he is a research fellow for the Institute of Global Business and Society, TH Köln, and Tianjin Academy of Environmental Sciences.

Bibliographic Information

  • Book Title: The Financial Consequences of Behavioural Biases

  • Book Subtitle: An Analysis of Bias in Corporate Finance and Financial Planning

  • Authors: Imad A. Moosa, Vikash Ramiah

  • DOI: https://doi.org/10.1007/978-3-319-69389-7

  • Publisher: Palgrave Macmillan Cham

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s) 2017

  • Hardcover ISBN: 978-3-319-69388-0Published: 10 November 2017

  • eBook ISBN: 978-3-319-69389-7Published: 25 October 2017

  • Edition Number: 1

  • Number of Pages: XV, 174

  • Number of Illustrations: 12 b/w illustrations

  • Topics: Behavioral Finance

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