![\"sunil](\"https:\/\/community.mis.temple.edu\/seminars\/files\/2022\/04\/mithas-pic.jpg\")
<\/a><\/p>\n<\/p>\n
Sunil Mithas
\n<\/b><\/h2>\n
World Class Scholar and Professor
\nMuma College of Business
\nUniversity of South Florida<\/p>\n
Friday, Apr 8
\n<\/strong>11:00 am \u2013 12:30 pm
\n<\/strong>In-person: 1810 Liacouras Walk, Room 420<\/em><\/h2>\n<\/h2>\nAbstract:<\/strong><\/h2>\nMobile apps are among the most important and widely used innovations in the brokerage industry. Surprisingly, despite their increasing economic importance and theoretical significance, few studies have examined the effects of mobile app use on individual investors\u2019 financial decisions and performance. This study seeks to understand how mobile apps influence investors\u2019 trading behaviors through portfolio diversification and portfolio performance in a quasi-experimental setting. We leverage a proprietary longitudinal dataset from a leading securities company, and adopt the staggered difference-in-differences specification as our main identification strategy. The findings suggest that mobile app adoption by retail investors leads to a 3.5% increase in portfolio diversification without deteriorating investors\u2019 portfolio performance. Our exploratory analyses of underlying mechanisms suggest that mobile app adoption is especially beneficial for those who have high time constraints (by reducing transaction friction) and is less useful for those who are likely to be overconfident or who have high trend-chasing tendency (by boosting investors\u2019 biases). Further analyses of adopters\u2019 post-adoption behaviors show that mobile app usage intensity had an Inverted-U relationship with portfolio diversification and performance. In other words, balanced use of both PC and mobile channels permits desirable outcomes in terms of portfolio diversification and portfolio performance. We discuss the implications for research and practice.<\/p>\n
Bio:<\/strong><\/h2>\nSunil Mithas is a World Class Scholar and Professor at the Muma College of Business at the University of South Florida. Mithas has taught at the Robert H. Smith School of Business at the University of Maryland, and has held visiting positions in Australia, Germany and Hong Kong. He earned his PhD from the Ross School of Business at the University of Michigan and an engineering degree from IIT, Roorkee. Identified as an MSI Young Scholar by the Marketing Science Institute, Mithas is among top information systems scholars in the world. He has consulted and conducted research with a range of organizations including A. T. Kearney, Ernst & Young, Johnson & Johnson, the Social Security Administration, and the Tata Group. He is the author of two books, and his research has won best-paper awards, and featured in practice-oriented publications such as MIT Sloan Management Review, Bloomberg, and CIO.com.<\/p>\n","protected":false},"excerpt":{"rendered":"
Mobile Apps, Portfolio Diversification, and Portfolio Performance: Evidence from a Quasi-Experiment in China by Sunil Mithas World Class Scholar and Professor Muma College of Business University of South Florida Friday, Apr 8 11:00 am \u2013 12:30 pm In-person: 1810 Liacouras Walk, Room 420 Abstract: Mobile apps are among the most important and widely used […]<\/p>\n","protected":false},"author":17227,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[838512,838474,84099,838513,838514,783315],"class_list":{"0":"post-1464","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-uncategorized","7":"tag-difference-in-differences","8":"tag-financial-technology","9":"tag-mobile-apps","10":"tag-portfolio-diversification","11":"tag-portfolio-performance","12":"tag-quasi-natural-experiment","13":"entry"},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/posts\/1464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/users\/17227"}],"replies":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/comments?post=1464"}],"version-history":[{"count":1,"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/posts\/1464\/revisions"}],"predecessor-version":[{"id":1466,"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/posts\/1464\/revisions\/1466"}],"wp:attachment":[{"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/media?parent=1464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/categories?post=1464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/tags?post=1464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Abstract:<\/strong><\/h2>\nMobile apps are among the most important and widely used innovations in the brokerage industry. Surprisingly, despite their increasing economic importance and theoretical significance, few studies have examined the effects of mobile app use on individual investors\u2019 financial decisions and performance. This study seeks to understand how mobile apps influence investors\u2019 trading behaviors through portfolio diversification and portfolio performance in a quasi-experimental setting. We leverage a proprietary longitudinal dataset from a leading securities company, and adopt the staggered difference-in-differences specification as our main identification strategy. The findings suggest that mobile app adoption by retail investors leads to a 3.5% increase in portfolio diversification without deteriorating investors\u2019 portfolio performance. Our exploratory analyses of underlying mechanisms suggest that mobile app adoption is especially beneficial for those who have high time constraints (by reducing transaction friction) and is less useful for those who are likely to be overconfident or who have high trend-chasing tendency (by boosting investors\u2019 biases). Further analyses of adopters\u2019 post-adoption behaviors show that mobile app usage intensity had an Inverted-U relationship with portfolio diversification and performance. In other words, balanced use of both PC and mobile channels permits desirable outcomes in terms of portfolio diversification and portfolio performance. We discuss the implications for research and practice.<\/p>\n
Bio:<\/strong><\/h2>\nSunil Mithas is a World Class Scholar and Professor at the Muma College of Business at the University of South Florida. Mithas has taught at the Robert H. Smith School of Business at the University of Maryland, and has held visiting positions in Australia, Germany and Hong Kong. He earned his PhD from the Ross School of Business at the University of Michigan and an engineering degree from IIT, Roorkee. Identified as an MSI Young Scholar by the Marketing Science Institute, Mithas is among top information systems scholars in the world. He has consulted and conducted research with a range of organizations including A. T. Kearney, Ernst & Young, Johnson & Johnson, the Social Security Administration, and the Tata Group. He is the author of two books, and his research has won best-paper awards, and featured in practice-oriented publications such as MIT Sloan Management Review, Bloomberg, and CIO.com.<\/p>\n","protected":false},"excerpt":{"rendered":"
Mobile Apps, Portfolio Diversification, and Portfolio Performance: Evidence from a Quasi-Experiment in China by Sunil Mithas World Class Scholar and Professor Muma College of Business University of South Florida Friday, Apr 8 11:00 am \u2013 12:30 pm In-person: 1810 Liacouras Walk, Room 420 Abstract: Mobile apps are among the most important and widely used […]<\/p>\n","protected":false},"author":17227,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[838512,838474,84099,838513,838514,783315],"class_list":{"0":"post-1464","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-uncategorized","7":"tag-difference-in-differences","8":"tag-financial-technology","9":"tag-mobile-apps","10":"tag-portfolio-diversification","11":"tag-portfolio-performance","12":"tag-quasi-natural-experiment","13":"entry"},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/posts\/1464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/users\/17227"}],"replies":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/comments?post=1464"}],"version-history":[{"count":1,"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/posts\/1464\/revisions"}],"predecessor-version":[{"id":1466,"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/posts\/1464\/revisions\/1466"}],"wp:attachment":[{"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/media?parent=1464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/categories?post=1464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/tags?post=1464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Sunil Mithas is a World Class Scholar and Professor at the Muma College of Business at the University of South Florida. Mithas has taught at the Robert H. Smith School of Business at the University of Maryland, and has held visiting positions in Australia, Germany and Hong Kong. He earned his PhD from the Ross School of Business at the University of Michigan and an engineering degree from IIT, Roorkee. Identified as an MSI Young Scholar by the Marketing Science Institute, Mithas is among top information systems scholars in the world. He has consulted and conducted research with a range of organizations including A. T. Kearney, Ernst & Young, Johnson & Johnson, the Social Security Administration, and the Tata Group. He is the author of two books, and his research has won best-paper awards, and featured in practice-oriented publications such as MIT Sloan Management Review, Bloomberg, and CIO.com.<\/p>\n","protected":false},"excerpt":{"rendered":"
Mobile Apps, Portfolio Diversification, and Portfolio Performance: Evidence from a Quasi-Experiment in China by Sunil Mithas World Class Scholar and Professor Muma College of Business University of South Florida Friday, Apr 8 11:00 am \u2013 12:30 pm In-person: 1810 Liacouras Walk, Room 420 Abstract: Mobile apps are among the most important and widely used […]<\/p>\n","protected":false},"author":17227,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[838512,838474,84099,838513,838514,783315],"class_list":{"0":"post-1464","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-uncategorized","7":"tag-difference-in-differences","8":"tag-financial-technology","9":"tag-mobile-apps","10":"tag-portfolio-diversification","11":"tag-portfolio-performance","12":"tag-quasi-natural-experiment","13":"entry"},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/posts\/1464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/users\/17227"}],"replies":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/comments?post=1464"}],"version-history":[{"count":1,"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/posts\/1464\/revisions"}],"predecessor-version":[{"id":1466,"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/posts\/1464\/revisions\/1466"}],"wp:attachment":[{"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/media?parent=1464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/categories?post=1464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/community.mis.temple.edu\/seminars\/wp-json\/wp\/v2\/tags?post=1464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}