All That Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors (2024)

Article Navigation

Volume 21 Issue 2 April 2008
  • < Previous
  • Next >

Journal Article

Get access

,

Brad M. Barber

Graduate School of Management, University of California, Davis

Address correspondence to Terrance Odean, Haas School of Business, University of California, Berkeley, CA 94720-1900; telephone: 510-642-6767; e-mail: odean@berkeley.edu.

Search for other works by this author on:

Oxford Academic

Terrance Odean

Haas School of Business, University of California, Berkeley

Search for other works by this author on:

Oxford Academic

The Review of Financial Studies, Volume 21, Issue 2, April 2008, Pages 785–818, https://doi.org/10.1093/rfs/hhm079

Published:

24 December 2007

Search

Close

Search

Advanced Search

Search Menu

Abstract

We test and confirm the hypothesis that individual investors are net buyers of attention-grabbing stocks, e.g., stocks in the news, stocks experiencing high abnormal trading volume, and stocks with extreme one-day returns. Attention-driven buying results from the difficulty that investors have searching the thousands of stocks they can potentially buy. Individual investors do not face the same search problem when selling because they tend to sell only stocks they already own. We hypothesize that many investors consider purchasing only stocks that have first caught their attention. Thus, preferences determine choices after attention has determined the choice set.

© Oxford University Press 2007

Issue Section:

Articles

You do not currently have access to this article.

Download all slides

Sign in

Get help with access

Personal account

  • Sign in with email/username & password
  • Get email alerts
  • Save searches
  • Purchase content
  • Activate your purchase/trial code

Sign in Register

Institutional access

  1. Sign in through your institution All That Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors (3)
  2. Sign in with a library card Sign in with username/password Recommend to your librarian

Institutional account management

Sign in as administrator

Get help with access

Institutional access

Access to content on Oxford Academic is often provided through institutional subscriptions and purchases. If you are a member of an institution with an active account, you may be able to access content in one of the following ways:

IP based access

Typically, access is provided across an institutional network to a range of IP addresses. This authentication occurs automatically, and it is not possible to sign out of an IP authenticated account.

Sign in through your institution

Choose this option to get remote access when outside your institution. Shibboleth/Open Athens technology is used to provide single sign-on between your institution’s website and Oxford Academic.

  1. Click Sign in through your institution.
  2. Select your institution from the list provided, which will take you to your institution's website to sign in.
  3. When on the institution site, please use the credentials provided by your institution. Do not use an Oxford Academic personal account.
  4. Following successful sign in, you will be returned to Oxford Academic.

If your institution is not listed or you cannot sign in to your institution’s website, please contact your librarian or administrator.

Sign in with a library card

Enter your library card number to sign in. If you cannot sign in, please contact your librarian.

Society Members

Society member access to a journal is achieved in one of the following ways:

Sign in through society site

Many societies offer single sign-on between the society website and Oxford Academic. If you see ‘Sign in through society site’ in the sign in pane within a journal:

  1. Click Sign in through society site.
  2. When on the society site, please use the credentials provided by that society. Do not use an Oxford Academic personal account.
  3. Following successful sign in, you will be returned to Oxford Academic.

If you do not have a society account or have forgotten your username or password, please contact your society.

Sign in using a personal account

Some societies use Oxford Academic personal accounts to provide access to their members. See below.

Personal account

A personal account can be used to get email alerts, save searches, purchase content, and activate subscriptions.

Some societies use Oxford Academic personal accounts to provide access to their members.

Viewing your signed in accounts

Click the account icon in the top right to:

  • View your signed in personal account and access account management features.
  • View the institutional accounts that are providing access.

Signed in but can't access content

Oxford Academic is home to a wide variety of products. The institutional subscription may not cover the content that you are trying to access. If you believe you should have access to that content, please contact your librarian.

Institutional account management

For librarians and administrators, your personal account also provides access to institutional account management. Here you will find options to view and activate subscriptions, manage institutional settings and access options, access usage statistics, and more.

Purchase

Subscription prices and ordering for this journal

Purchasing options for books and journals across Oxford Academic

Short-term Access

To purchase short-term access, please sign in to your personal account above.

Don't already have a personal account? Register

All That Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors - 24 Hours access

EUR €51.00

GBP £44.00

USD $55.00

Rental

All That Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors (4)

This article is also available for rental through DeepDyve.

Advertisem*nt

Citations

Views

23,147

Altmetric

More metrics information

Metrics

Total Views 23,147

15,353 Pageviews

7,794 PDF Downloads

Since 11/1/2016

Month: Total Views:
November 2016 1
December 2016 1
January 2017 69
February 2017 293
March 2017 335
April 2017 235
May 2017 275
June 2017 223
July 2017 127
August 2017 147
September 2017 163
October 2017 225
November 2017 334
December 2017 224
January 2018 262
February 2018 219
March 2018 387
April 2018 282
May 2018 333
June 2018 228
July 2018 169
August 2018 202
September 2018 214
October 2018 237
November 2018 207
December 2018 170
January 2019 184
February 2019 225
March 2019 296
April 2019 358
May 2019 352
June 2019 310
July 2019 168
August 2019 256
September 2019 237
October 2019 275
November 2019 296
December 2019 223
January 2020 193
February 2020 214
March 2020 285
April 2020 288
May 2020 215
June 2020 258
July 2020 150
August 2020 145
September 2020 205
October 2020 243
November 2020 283
December 2020 274
January 2021 206
February 2021 270
March 2021 346
April 2021 333
May 2021 402
June 2021 369
July 2021 239
August 2021 248
September 2021 242
October 2021 321
November 2021 359
December 2021 344
January 2022 314
February 2022 308
March 2022 483
April 2022 451
May 2022 382
June 2022 279
July 2022 198
August 2022 291
September 2022 290
October 2022 324
November 2022 306
December 2022 218
January 2023 236
February 2023 311
March 2023 427
April 2023 400
May 2023 328
June 2023 294
July 2023 227
August 2023 261
September 2023 246
October 2023 301
November 2023 281
December 2023 200
January 2024 263
February 2024 325
March 2024 29

Citations

Powered by Dimensions

1,820 Web of Science

Altmetrics

×

Email alerts

Article activity alert

Advance article alerts

New issue alert

JEL classification alert

Receive exclusive offers and updates from Oxford Academic

Citing articles via

Google Scholar

  • Latest

  • Most Read

  • Most Cited

A Dynamic Theory of Lending Standards1
Which Subjective Expectations Explain Asset Prices?
Can Human Capital Explain Income-Based Disparities in Financial Services?
Missing Data in Asset Pricing Panels
Holding Period Effects in Dividend Strip Returns

More from Oxford Academic

Economics

Financial Markets

Social Sciences

Books

Journals

Advertisem*nt

All That Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors (2024)
Top Articles
Latest Posts
Article information

Author: Jerrold Considine

Last Updated:

Views: 5509

Rating: 4.8 / 5 (58 voted)

Reviews: 89% of readers found this page helpful

Author information

Name: Jerrold Considine

Birthday: 1993-11-03

Address: Suite 447 3463 Marybelle Circles, New Marlin, AL 20765

Phone: +5816749283868

Job: Sales Executive

Hobby: Air sports, Sand art, Electronics, LARPing, Baseball, Book restoration, Puzzles

Introduction: My name is Jerrold Considine, I am a combative, cheerful, encouraging, happy, enthusiastic, funny, kind person who loves writing and wants to share my knowledge and understanding with you.