000151468 001__ 151468 000151468 005__ 20250310131043.0 000151468 0247_ $$2doi$$a10.1016/j.ribaf.2025.102802 000151468 0248_ $$2sideral$$a143162 000151468 037__ $$aART-2025-143162 000151468 041__ $$aeng 000151468 100__ $$0(orcid)0000-0003-3661-5448$$aAndreu Sánchez, Laura$$uUniversidad de Zaragoza 000151468 245__ $$aReversal of divergent decisions: Wise or hasty decisions? 000151468 260__ $$c2025 000151468 5060_ $$aAccess copy available to the general public$$fUnrestricted 000151468 5203_ $$aWe examine whether the reversals of buying decisions by fund managers depend on the performance of the stocks; or do they depend on the divergence in the trading decisions of peer managers. Through separate analyses, we find that stock performance positively influences the reversal of trading decisions while the level of divergence has a negative effect. However, when we analyse the joint effect of performance and divergence, we find a more rapid reversal in more divergent decisions that lead to good results. This asymmetric evidence might be linked to the disposition effect and could entail the loss of potential good outcomes. The results indicate that managers who reverse their buying decisions take greater advantage of the potential performance, providing evidence of skill in their selling decisions. Finally, we observe that team structures mitigate the preference of managers to hold on to their special bets. 000151468 536__ $$9info:eu-repo/grantAgreement/ES/AEI/PID2022-136818NB-I00$$9info:eu-repo/grantAgreement/ES/DGA/S38-23R 000151468 540__ $$9info:eu-repo/semantics/embargoedAccess$$aby-nc-nd$$uhttp://creativecommons.org/licenses/by-nc-nd/3.0/es/ 000151468 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/acceptedVersion 000151468 700__ $$0(orcid)0000-0003-4675-6762$$aGimeno Losilla, Ruth$$uUniversidad de Zaragoza 000151468 700__ $$0(orcid)0000-0001-6078-0465$$aSarto Marzal, José Luis$$uUniversidad de Zaragoza 000151468 700__ $$0(orcid)0000-0002-8655-9934$$aSerrano Cored, Miguel$$uUniversidad de Zaragoza 000151468 7102_ $$14002$$2230$$aUniversidad de Zaragoza$$bDpto. Contabilidad y Finanzas$$cÁrea Economía Finan. y Contab. 000151468 773__ $$g76 (2025), 102802 [25 pp.]$$tRESEARCH IN INTERNATIONAL BUSINESS AND FINANCE$$x0275-5319 000151468 8564_ $$s1346120$$uhttps://zaguan.unizar.es/record/151468/files/texto_completo.pdf$$yPostprint$$zinfo:eu-repo/date/embargoEnd/2028-02-16 000151468 8564_ $$s1522199$$uhttps://zaguan.unizar.es/record/151468/files/texto_completo.jpg?subformat=icon$$xicon$$yPostprint$$zinfo:eu-repo/date/embargoEnd/2028-02-16 000151468 909CO $$ooai:zaguan.unizar.es:151468$$particulos$$pdriver 000151468 951__ $$a2025-03-10-12:56:19 000151468 980__ $$aARTICLE