File(s) under permanent embargo
Reason: Restricted by author. A copy can be supplied under Section 51(2) of the Australian Copyright Act 1968 by submitting a document delivery request through your library, or by emailing email@example.com
Three Essays in Behavioural Asset Pricing
thesisposted on 14.09.2022, 05:29 authored by BROOKE ASHLEY PEEL
Trust that assets are fairly priced is an important feature of well-functioning capital markets. However, there are examples where the prices of assets are difficult to reconcile with fundamental values. It is therefore important to understand the source of such mispricing. This thesis provides novel evidence regarding how stocks with particular characteristics can become temporarily mispriced as a result of biases in the decision-making of investors. This thesis reports evidence consistent with investor under-reaction and preferences for lottery-like stock returns being important in explaining prominent examples of mispricing.