Original paper
Does It Pay to Pay Attention?
Abstract
We employ a novel brokerage account data set to investigate which individual investors are the most attentive, how investors allocate their attention, and the relation between investor attention and performance. Attention is positively related to investment performance, at both the portfolio return level and the individual trades level. We provide evidence that the superior performance of high-attention investors arises because they purchase...
Paper Details
Title
Does It Pay to Pay Attention?
Published Date
Apr 19, 2018
Journal
Volume
31
Issue
12
Pages
4595 - 4649