活动安排
时间：2024年9月27日（周五）10:00-11:30
讲座地点：松江校区2教楼235教室
主 讲 人：黄易初 华东政法大学商学院 副研究员
主 持 人：陈蓓 必赢bwin线路检测中心 助理教授
讲座摘要
Using a unique proprietary dataset of daily mutual fund trading records and the COVID-19 pandemic-triggered lockdown in Wuhan (China) as a natural experiment, we find that individual mutual fund investors in Wuhan significantly reduced their daily trading frequency, total investment of their portfolios, and risk level of their invested funds during the lockdown period as compared to investors in other cities. The results suggest that the elimination of face-to-face interaction among individual investors during the lockdown reduced their information sharing, which led to more conservatism in their financial trading. We rule out alternative explanations of salience bias due to limited investor attention and temporary changes in personal circumstances such as depression and/or income reduction, during the lockdown period. Finally, consistent with the theory of naïve investor trading, we also find that investors received higher trading returns during the lockdown as they reduced trading aggressively in the absence of face-to-face interactions.
嘉宾简介
黄易初，华东政法大学商学院副研究员，硕士生导师。英国阿伯丁大学金融学博士，华东政法大学法学博士后，CFA（北美注册金融分析师），FRM（金融风险管理师）。2021年入选上海市“超级博士后”人才计划。主要研究领域为公司金融，公司治理，供应链金融。在Journal of Financial Stability, International Review of Financial Analysis, Review of Quantitative Finance and Accounting, Finance Research Letters等国际权威金融期刊发表多篇论文。曾任上海市人大财经委立法监督处副处长。
承办单位
金融科技与公司财务系
人工智能与计算金融研究所
科研与师资发展办公室
