What leads to overtrading and under-diversification? Survey evidence from retail investors in an emerging market

Phan, Thuy Chung; Rieger, Marc Oliver; Wang, Mei

doi:10.1016/j.jbef.2018.04.001

Cited by 46 publications

(21 citation statements)

References 73 publications

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“…The impact of behavioral baizes in investment decision making drawn from trading volumes of stock markets. Overconfidence behavior can lead to higher trading volumes (Darrat, Zhong, & Cheng, 2007); (Phan, Rieger, & Wang, 2018); (Mushinada & Veluri, 2018); (Khan, Tan, Chong, & Ong, 2017). Advice driven or gambling oriented study has been undertaken where structured retail products that are faces of financial innovation have been taken for study.…”

Section: Review Of Literaturementioning

confidence: 99%

An Analysis of Behavioral Biases in Investment Decision-Making

Madaan¹,

Singh²

2019

IJFR

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Individual investor’s behavior is extensively influenced by various biases that highlighted in the growing discipline of behavior finance. Therefore, this study is also one of another effort to assess the impact of behavioral biases in investment decision-making in National Stock Exchange. A questionnaire is designed and through survey responses collected from 243 investors. The present research has applied inferential statistics and descriptive statistics. In the existing study, four behavioral biases have been reviewed namely, overconfidence, anchoring, disposition effect and herding behavior. The results show that overconfidence and herding bias have significant positive impact on investment decision. Overall results conclude that individual investors have limited knowledge and more prone towards making psychological errors. The findings of the study also indicate the existence of these four behavioral biases on individual investment decisions. This study will be helpful to financial intermediaries to advice their clients. Further, study can be elaborated to study other behavioral biases on investment decisions.

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Section: Review Of Literaturementioning

confidence: 99%

An Analysis of Behavioral Biases in Investment Decision-Making

Madaan¹,

Singh²

2019

IJFR

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“…Similarly, the third and fourth tasks ask subjects to differentiate a payoff between today and one year (one-year delay) and between one month and thirteen months (one-year upfront-delay). For each task, we show them an illustration of a combination between early and later payoffs as summarized in Figure 1 in Phan et al [6] ׳s paper.…”

Section: Experimental Design Materials and Methodsmentioning

confidence: 99%

“…Table 1 , Table 2 summarize surveyed variables of the provided dataset which can help estimate selected psychological variables (such as illusion of control, self-attribution, self-control, overconfidence in confidence interval estimates (or miscalibration), self-reported risk tolerance and time preferences), equity trading behavior and socio-demographic characteristics at the individual level. Discussion of theoretical backgrounds and development in the measurement and calculation of the survey variables can be found in the associated research article [6] .…”

Section: Datamentioning

confidence: 99%

“…A supplemental material data contains the full text, codes and numerical values of survey instruments. Discussion of theoretical frameworks and the development of hypothesis and measurement of survey variables are found in the associated research article [6] .…”

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confidence: 99%

“… 1 We only present the part of our original questionnaire used in Phan et al [6] . The remaining part was reported in the study of Phan et al [5] …”

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confidence: 99%

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Survey data on Vietnamese retail investors׳ trading behavior and their psychological and behavioral patterns

2018

Self Cite

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The data article describes self-assessments of 621 Vietnamese retail investors on their trading behavior, psychological attributes and socio-demographic characteristics. The dataset was obtained from a randomized survey of 3144 Vietnamese participants on financial attitudes and practice that has been used in Phan et al. [5]. A supplemental material data contains the full text, codes and numerical values of survey instruments. Discussion of theoretical frameworks and the development of hypothesis and measurement of survey variables are found in the associated research article [6].

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Arbitrage opportunities and feedback trading in regulated bitcoin futures market: An intraday analysis

Ngene,

Wang

2024

International Review of Economics & Finance

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What leads to overtrading and under-diversification? Survey evidence from retail investors in an emerging market

Cited by 46 publications

References 73 publications

An Analysis of Behavioral Biases in Investment Decision-Making

An Analysis of Behavioral Biases in Investment Decision-Making

Survey data on Vietnamese retail investors׳ trading behavior and their psychological and behavioral patterns

Arbitrage opportunities and feedback trading in regulated bitcoin futures market: An intraday analysis

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