Retraction: Asset allocation in equity, fixed-income and cryptocurrency on the base of individual risk sentiment
-
DOIhttp://dx.doi.org/10.21511/imfi.16(2).2019.15
-
Article InfoVolume 16 2019, Issue #2, pp. 171-181
- Cited by
- 1698 Views
-
191 Downloads
This work is licensed under a
Creative Commons Attribution 4.0 International License
Retracted on August 17, 2020 by the Journal’s owner and Publisher. Type of retraction – plagiarism.
There wasn’t a request for this retraction, but the reason for investigation of plagiarism fact was the Russian Academy of Sciences Committee’s report “Predatory Journals at Scopus and WoS: Translation Plagiarism from Russian Sources”: https://kpfran.ru/wp-content/uploads/plagiarism-by-translation-2.pdf” dated August 12, 2020. The publishing house has familiarized itself with the report. The article by Alexey Mikhaylov, Natalia Sokolinskaya and Evgeniy Lopatin (2019). Asset allocation in equity, fixed-income and cryptocurrency on the base of individual risk sentiment. Investment Management and Financial Innovations, 16(2), 171-181. doi:10.21511/imfi.16(2).2019.15 was mentioned in this report. It is noted that translation plagiarism was detected in this article - http://wiki.dissernet.org/wsave/IMFI_2019_2_1publ.html.
Due to this the publishing house carried out an investigation on possible cases of plagiarism of all articles of these authors (Alexey Mikhaylov, Natalia Sokolinskaya and Evgeniy Lopatin) published in “Business Perspectives” journals.
When the manuscript "Asset allocation in equity, fixed-income and cryptocurrency on the base of individual risk sentiment" was submitted to the Journal for consideration, the authors signed the Cover letter and attested to the fact that their manuscript is an original research and has not been published before. Then, the manuscript was accepted for consideration by the Managing Editor and was tested for plagiarism using the iThenticate and Unicheck programs. Plagiarism was not detected. On August 12, 2020 the Russian Academy of Sciences Committee’s presented the report. Editorial staff decided to re-test all articles of mentioned authors for plagiarism using the iThenticate and Unicheck programs – the programs didn’t show the plagiarism, then the articles were tested for translation plagiarism by the experts of “Business Perspectives” and plagiarism was detected (plagiarism and paraphrases from Russian-language sources).
According to the results of the investigation, the Publisher and owner of the journal decided to retract this article because of plagiarism on August 17, 2020.
The authors were notified of such a decision.
- Keywords
-
JEL Classification (Paper profile tab)G11, G23, E00
-
References32
-
Tables6
-
Figures0
-
- Table 1. Points for each answer and level of risk
- Table 2. The share of each answer of individual investors in Russia
- Table 3. ANOVA data summary
- Table 4. Mann-Whitney U-test for age factor
- Table 5. Asset allocation for each risk profile
- Table 6. Mann-Whitney U-test for investment returns factor
-
- Ackert, L., Charupat, N., Church, B., & Deaves, R. (2006). An experimental examination of the house money effect in a multiperiod setting. Experimental Economics, 9(1), 5-16.
- Bajtelsmit, V., & Bernasek, A. (1996). Why do women invest differently than men? Financial Counseling and Planning, 7(1), 1-10.
- Barber, B., & Odean, T. (2000). Trading is hazardous to your wealth: The common stock investment performance of individual investors. Journal of Finance, 55(2), 773-806.
- Battalio, R., Kagel, J., & Jiranyakul, K. (1990). Testing between alternative models of choice under uncertainty: Some initial results. Journal of Risk and Uncertainty, 3(1), 25-50.
- Bechara, A., Tranel, D., & Damasio, H. (2000). Characterizations of the decision making deficit of patients with ventromedial prefrontal cortext lesions. Brain, 123(11), 2189-2202.
- Byrnes, J., Miller, D., & Schafer, W. (1999). Gender differences in risk taking: A meta analysis. Psychological Bulletin, 125(3), 367-383.
- Croson, R., & Gneezy, U. (2009). Gender differences in preferences. Journal of Economic Literature, 47(2), 448-474.
- Dwyer, P. D., Gilkeson, J. H., & List, J. A. (2002). Gender differences in revealed risk taking: Evidence from mutual fund investors. Economics Letters, 76(2), 151-158.
- Eckel, C., & Grossman, P. (2008). Forecasting risk attitudes: an experimental study using actual and forecast gamble choices. Journal of Economic Behavior and Organization, 68(1), 1-17.
- Franken, I., Georgieva, I., Muris, P., & Dijksterhuis, A. (2006). The rich get richer and the poor get poorer: On risk aversion in behavioral decision-making. Judgment and Decision Making, 1(2), 153-158.
- Frino, A., Grant, J., & Johnstone, D. (2008). The house money effect and local traders on the Sydney Futures Exchange. Pacific-Basin Finance Journal, 16(1-2), 8-25.
- Halek, M., & Eisenhauer, J. G. (2001). Demography of risk aversion. The Journal of Risk and Insurance, 68(1), 1-24.
- Hartog, J., Ferrer-i-Carbonell, A., & Jonker, N. (2002). Linking measured risk aversion to individual characteristic. Kyklos, 55(1), 3-26.
- Hsu, Y. L., & Chow, E. (2013). The house money effect on investment risk taking: Evidence from Taiwan. Pacific-Basin Finance Journal, 21(1), 1102-1115.
- Imas, A. (2016). The realization effect: Risk-taking after realized versus paper losses. American Economic Review, 106(8), 2086-2109.
- Kahneman, D., & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47(2), 263-292.
- Keasey, K., & Moon, P. (1996). Gambling with the house money in capital expenditure decisions: An experimental analysis. Economics Letters, 50(1), 105-110.
- Lippi, A., Barbieri, L., Piva, M., & De Bondt, W. (2018). Timevarying risk behavior and prior investment outcomes: Evidence from Italy. Judgment and Decision Making, 13(5), 471-483.
- Liu, Y.-J., Tsai, C.-L., Wang, M.-C., & Zhu, N. (2010). Prior consequences and subsequent risk taking: New field evidence from the Taiwan Futures Exchange. Management Science, 56(4), 606-620.
- Lusardi, A., & Mitchell, O. (2008). Planning and financial literacy: How do women fare? American Economic Review, 98(2), 413-417.
- Merkle, C. (2017). Financial overconfidence over time: Foresight, hindsight, and insight of investors. Journal of Banking & Finance, 84, 68-87.
- Mikhailov, A. (2018). Pricing in Oil Market and Using Probit Model for Analysis of Stock Market Effects. International Journal of Energy Economics and Policy, 4, 43-53.
- Mikhaylov, A. (2018). Volatility Spillover Effect between Stock and Exchange Rate in Oil Exporting Countries. International Journal of Energy Economics and Policy, 8(3), 321-326.
- Nosić, A., & Weber, M. (2010). How riskily do I invest? The role of risk attitudes, risk perceptions, and overconfidence. Decision Analysis, 7(3), 282-301.
- Powell, M., & Ansic, D. (1997). Gender differences in risk behaviour in financial decisionmaking. An experimental analysis. Journal of Economic Psychology, 18(6), 605-628.
- Riley, W. B., & Chow, K. V. (1992). Asset allocation and individual risk aversion. Financial Analysts Journal, 48(6), 32-37.
- Schubert, R., Brown, M., Gysler, M., & Brachinger, H. (1999). Financial decision-making: Are women really more riskaverse? American Economic Review, 89(2), 381-385.
- Shiv, B., Loewenstein, G., & Bechara, A. (2005). The dark side of emotion in decision-making: When individuals with decreased emotional reactions make more advantageous decision. Cognitive Brain Research, 23(1), 85-92.
- Thaler, R. H., & Johnson, E. J. (1990). Gambling with the house money and trying to break even: Effects of prior outcomes on risky choice. Management Science, 36(6), 643-660.
- Tversky, A., & Kahneman, D. (1981). The framing of decisions and the psychology of choice. Science, 211(4481), 453-458.
- Tversky, A., & Kahneman, D. (1992). Advances in prospect theory: Cumulative representation of uncertainty. Journal of Risk and Uncertainty, 5(4), 297-323.
- Weber, M., & Zuchel, H. (2005). How do prior outcomes affect risk attitude? Comparing escalation of commitment and house-money effect. Decision Analysis, 2(1), 30-43.