Handbook of Investors' Behavior during Financial Crises

Handbook of Investors' Behavior during Financial Crises

1st Edition - June 24, 2017

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  • Editors: Fotini Economou, Konstantinos Gavriilidis, Greg Gregoriou, Vasileios Kallinterakis
  • Paperback ISBN: 9780128112526
  • eBook ISBN: 9780128112533

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The Handbook of Investors' Behavior during Financial Crises provides fundamental information about investor behavior during turbulent periods, such the 2000 dot com crash and the 2008 global financial crisis. Contributors share the same behavioral finance tools and techniques while analyzing behaviors across a variety of market structures and asset classes. The volume provides novel insights about the influence and effects of regional differences in market design. Its distinctive approach to studies of financial crises is of key importance in our contemporary financial landscape, even more so since the accelerated process of globalization has rendered the outbreak of financial crises internationally more commonplace compared to previous decades.

Key Features

  • Encompasses empirical, quantitative and regulation-motivated studies
  • Includes information about retail and institutional investor behavior
  • Analyzes optimal financial structures for the development and growth of specific regional economies


Upper-division undergraduates, graduate students, and professionals studying and working in financial economics, financial markets, behavioral finance, and regional economics

Table of Contents

  • SECTION A: theoretical perspectives of investors’ behaviour during financial crises
    1. Debt Markets, Financial Crises and Public Finance in the Eurozone: Action, Structure and Experience in Greece
    2. Investor Behavior Before, and After the Financial Crisis: From a Muted Response to an Increased Risk Appetite 
    3. Optimal Bubble Exit Strategies
    4. Solving the Viner-Hayek Controversy - Financial Crises and the Conflicting Worlds of Deductive and İnductive Game Theory
    5. Governing Financial Orders Which Have Been Grown and Not Made: The Origins of the Financial Crisis in Financial Gridlock
    6. Overconfidence in Finance: Overview and Trends
    7. Rational Agents and Irrational Bubbles
    8. The Similarities Between the Bulgarian Local Financial Crisis in 1997 and the Global Financial Crisis in 2008

    SECTION B: Empirical Evidence On Investors’ Behaviour During Financial Crises
    9. Herding, Volatility and Market Stress in the Spanish Stock Market
    10. Did Security Analysts Overreact during the Global Financial Crisis? New Insights
    11. The Determinants of U.S. Bank Failures During 2008-2010
    12. Financial Crises and Herd Behavior: Evidence from Borsa Istanbul
    13. Doctor Jekyll and Mr. Hide: Stress Testing of the Investor Behavior
    14. Market Sentiment and Contagion in Euro-Area Bond Markets
    15. Regime Switching on the Relationship Between Stock Returns and Currency Values: Evidence From the 1997 Asian Crisis
    16. Relationship Between illiquidity and Monetary Conditions in the United Kingdom
    17. Herding in the Athens Stock Exchange During Different Crisis Periods
    18. Beta herding in emerging stock markets
    19. Exchange-Traded Funds: Do They Promote or Depress Noise Trading?
    20. The Behavior of Online Individual Investors before and after the 2007 Financial Crisis: Lessons from the French Case

    SECTION C: Behavioural Trading Strategies During Financial Crises
    21. Simple Tactical Asset Allocation Strategies on the S&P 500 and the Impact of VIX Fluctuations
    22. Horizontal and Natural Visibility Graph Analysis of S&P 500 Index time series
    23. Illiquidity as an Investment Style During the Financial Crisis in the United Kingdom
    24. On The Pricing of Commonality Across Various Liquidity Proxies in the London Stock Exchange and The Crisis

Product details

  • No. of pages: 514
  • Language: English
  • Copyright: © Academic Press 2017
  • Published: June 24, 2017
  • Imprint: Academic Press
  • Paperback ISBN: 9780128112526
  • eBook ISBN: 9780128112533

About the Editors

Fotini Economou

Fotini Economou received her Ph.D. from the University of Piraeus. She has published in journals such as the "Journal of International Financial Markets, Institutions and Money" and the "International Review of Financial Analysis," among others.

Affiliations and Expertise

Centre of Planning and Economic Research, Athens, Greece

Konstantinos Gavriilidis

Costas holds an MSc and a PhD in Finance from Durham University Business School, U.K. Before joining University of Stirling he held a position at Durham University Business School, while prior to starting his academic career he had an extensive work experience in the shipping industry. Costas' research area lies in Behavioral Finance; particularly, his current research projects focus on the herd behavior of institutional investors, inter-firms relationships, banking networks and emerging markets

Affiliations and Expertise

University of Stirling, Stirling, UK

Greg Gregoriou

Greg Gregoriou

A native of Montreal, Professor Greg N. Gregoriou obtained his joint Ph.D. in finance at the University of Quebec at Montreal which merges the resources of Montreal's four major universities McGill, Concordia, UQAM and HEC. Professor Gregoriou is Professor of Finance at State University of New York (Plattsburgh) and has taught a variety of finance courses such as Alternative Investments, International Finance, Money and Capital Markets, Portfolio Management, and Corporate Finance. He has also lectured at the University of Vermont, Universidad de Navarra and at the University of Quebec at Montreal.

Professor Gregoriou has published 50 books, 65 refereed publications in peer-reviewed journals and 24 book chapters since his arrival at SUNY Plattsburgh in August 2003. Professor Gregoriou's books have been published by McGraw-Hill, John Wiley & Sons, Elsevier-Butterworth/Heinemann, Taylor and Francis/CRC Press, Palgrave-MacMillan and Risk Books. Four of his books have been translated into Chinese and Russian. His academic articles have appeared in well-known peer-reviewed journals such as the Review of Asset Pricing Studies, Journal of Portfolio Management, Journal of Futures Markets, European Journal of Operational Research, Annals of Operations Research, Computers and Operations Research, etc.

Professor Gregoriou is the derivatives editor and editorial board member for the Journal of Asset Management as well as editorial board member for the Journal of Wealth Management, the Journal of Risk Management in Financial Institutions, Market Integrity, IEB International Journal of Finance, and the Brazilian Business Review. Professor Gregoriou's interests focus on hedge funds, funds of funds, commodity trading advisors, managed futures, venture capital and private equity. He has also been quoted several times in the New York Times, Barron's, the Financial Times of London, Le Temps (Geneva), Les Echos (Paris) and L'Observateur de Monaco. He has done consulting work for numerous clients and investment firms in Montreal. He is a part-time lecturer in finance at McGill University, an advisory member of the Markets and Services Research Centre at Edith Cowan University in Joondalup (Australia), a senior advisor to the Ferrell Asset Management Group in Singapore and a research associate with the University of Quebec at Montreal's CDP Capital Chair in Portfolio Management. He is on the advisory board of the Research Center for Operations and Productivity Management at the University of Science and Technology (Management School) in Hefei, Anhui, China.

Affiliations and Expertise

School of Business and Economics, State University of New York, Plattsburgh, NY, USA

Vasileios Kallinterakis

Dr. Vasileios (Bill) Kallinterakis is currently Lecturer of Finance at the University of Liverpool Management School; he has also lectured at Durham University Business School (from where he also obtained his PhD) and Leeds University Business School. During his career, he has taught a variety of courses related to Behavioural Finance, Corporate Finance and Econometrics. His research interests focus on behavioural finance, institutional investors, market volatility and emerging markets.

Affiliations and Expertise

University of Liverpool Management School, UK

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