151468 20251017144618.0 doi 10.1016/j.ribaf.2025.102802 sideral 143162 ART-2025-143162 eng Andreu Sánchez, Laura Universidad de Zaragoza (orcid)0000-0003-3661-5448 Reversal of divergent decisions: Wise or hasty decisions? 2025 Access copy available to the general public Unrestricted We 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. info:eu-repo/grantAgreement/ES/AEI/PID2022-136818NB-I00 info:eu-repo/grantAgreement/ES/DGA/S38-23R info:eu-repo/semantics/embargoedAccess by-nc-nd https://creativecommons.org/licenses/by-nc-nd/4.0/deed.es info:eu-repo/semantics/article info:eu-repo/semantics/acceptedVersion Gimeno Losilla, Ruth Universidad de Zaragoza (orcid)0000-0003-4675-6762 Sarto Marzal, José Luis Universidad de Zaragoza (orcid)0000-0001-6078-0465 Serrano Cored, Miguel Universidad de Zaragoza (orcid)0000-0002-8655-9934 4002 230 Universidad de Zaragoza Dpto. Contabilidad y Finanzas Área Economía Finan. y Contab. 76 (2025), 102802 [25 pp.] RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE 0275-5319 1346120 http://zaguan.unizar.es/record/151468/files/texto_completo.pdf Postprint info:eu-repo/date/embargoEnd/2028-02-16 1522199 http://zaguan.unizar.es/record/151468/files/texto_completo.jpg?subformat=icon icon Postprint info:eu-repo/date/embargoEnd/2028-02-16 oai:zaguan.unizar.es:151468 articulos driver 2025-10-17-14:20:44 ARTICLE