BEHAVIORAL CORPORATE FINANCE HERSH SHEFRIN PDF

Curriculum Vitae CV. Professor Shefrin is a pioneer of behavioral finance. He has published widely in the area and writes for both academics and practitioners. Professor Shefrin regularly teaches behavioral finance to both undergraduates and graduates.

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Hersh Shefrin, who holds the Mario L. Belotti Chair in the Department of Finance at the Leavey School of Business, is one of the pioneers of behavioral finance. He has published widely in the area and writes for both academics and practitioners. Professor Shefrin regularly teaches behavioral finance courses and often speaks on the subject to financial executives, portfolio managers, security analysts, risk managers, and financial planners both in the U.

This is the first comprehensive treatment of behavioral finance written specifically for practitioners. In , Oxford University Press, who assumed publication of the book, released an edition with a revised preface to reflect recent events and developments. In addition to seminal papers in this rapidly developing field, these volumes contain some of the pioneering works in psychology, upon which behavioral finance is based.

This is the first book to develop behavioral pricing kernel theory, thereby providing a unified, comprehensive behavioral approach to the main elements of asset pricing theory: stochastic discount factor, mean-variance portfolios, beta, option pricing, and the term structure of interest rates.

A second edition of this book was published in In , after the publication of the first edition of this book, Professor Shefrin published a related book titled Ending the Management Illusion, which described how behavioral corporate finance could be taught using a simulation game. The gaming approach places students in a decision environment in which both their intellects and emotions are engaged. Students work together in groups, making decisions to run a simulated company, in a setting that provides them with an opportunity to identify their own psychological tendencies, the tendencies of others, and to develop processes and group cultures that mitigate their vulnerability to behavioral pitfalls.

In , Professor Shefrin published a monograph titled Behavioralizing Finance. The monograph discusses both the strengths and weaknesses to the behavioral approach, and suggests some directions for strengthening the weaknesses. As the title suggests, the book describes the applicability of behavioral concepts to risk management, suggesting that risk managers augment their quantitative skill sets to include psychological elements.

Risk management is a very broad area, as most corporate finance textbooks make clear, and applies to corporate finance. He also holds an honorary doctorate from the University of Oulu, Finland. Behavioral Corporate Finance. Hersh Shefrin. Behavioral Corporate Finance provides instructors with a comprehensive pedagogical approach for teaching students how behavioral concepts apply to corporate finance.

The primary goal is to identify the key psychological obstacles to value maximizing behavior, along with steps that managers can take to mitigate the effects of these obstacles.

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Shefrin, Hersh

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Behavioral Corporate Finance

Hersh Shefrin, who holds the Mario L. Belotti Chair in the Department of Finance at the Leavey School of Business, is one of the pioneers of behavioral finance. He has published widely in the area and writes for both academics and practitioners. Professor Shefrin regularly teaches behavioral finance courses and often speaks on the subject to financial executives, portfolio managers, security analysts, risk managers, and financial planners both in the U.

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