Information Transparency and Individual Investor Trading
研究发现，在控制过度自信特征后，个人投资者更倾向于投资财务披露更透明的公司；这种关系对过度自信的投资者较弱，且个人投资者比机构投资者更看重披露透明度。
This study shows that individual investors invest in firms with more transparent financial disclosures after controlling the characteristics of overconfidence.The results further indicate that these relations are less pronounced for overconfident investors,and that individual investors appear to place a greater weighting on such financial disclosure attributes relative to institutional investors.This study contributes to the literature by providing evidence suggesting that the transparency of financial disclosures influences individual investors' investment decisions but less influences relative to institutional investors.