Financial estimates against investors’ preferences:anchoring, denial and spillover effects

Article English OPEN
Arikan, Ozlem;

This experimental study investigates how the characteristics of an estimate in a sensitivity disclosure and the level of threat it presents to investors' preferences interact to influence investors’ risk judgments. Firstly, I predict and find that variation in an estima... View more
  • References (57)
    57 references, page 1 of 6

    Akerlof, G.A. and Dickens, W.T., 1982. The economic consequences of cognitive dissonance. American Economic Review, 72 (3), 307-319.

    Bhattacharjee, S., Maletta, M.J., and Moreno, K.K., 2007. The cascading of contrast effects on auditors' judgments in multiple client audit environments. Accounting Review, 82 (5), 1097-1117.

    Botosan, C.A., 1997. Disclosure level and the cost of equity capital. Accounting Review, 72 (3), 323-349.

    Carlston, D.E., 1980. The recall and use of traits and events in social inference processes. Journal of Experimental Social Psychology, 16 (4), 303-328.

    Cianci, A.M., 2008. The impact of investor status on investors' evaluation of negative and positive, separate and combined information. Journal of Behavioral Finance, 9 (3), 117-131.

    Dehaene, S., 2003. The neural basis of the Weber-Fechner law: a logarithmic mental number line. Trends in Cognitive Sciences, 7 (4), 145-147.

    Dunning, D., Leuenberger, A., and Sherman, D.A., 1995. A new look at motivated inference: are self-serving theories of success a product of motivational forces? Journal of Personality and Social Psychology, 69 (1), 58-68.

    Elliott, W.B., 2015. Discussion of 'does coordinated presentation help credit analysts identify firm characteristics?' Contemporary Accounting Research, 32 (2), 528-533.

    Elliott, W.B., Hobson, J., and Jackson, K., 2011. Disaggregating management forecasts to reduce investors' susceptibility to earnings fixation. Accounting Review, 86 (1), 185-208.

    Elliott, W.B., Hodge, F.D., and Jackson, K.E., 2008. The association between nonprofessional investors' information choices and their portfolio returns: the importance of investing experience. Contemporary Accounting Research, 25 (2), 473-498.

  • Metrics
Share - Bookmark