Overconfidence, Representativeness and Hearding Bias among German Investors: how demographic and other Variables Influence Their Decision

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60460709%3A41110%2F23%3A97831" target="_blank" >RIV/60460709:41110/23:97831 - isvavai.cz</a>

Výsledek na webu

<a href="https://www.magnanimitas.cz/" target="_blank" >https://www.magnanimitas.cz/</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.33543/j.1302.285294" target="_blank" >10.33543/j.1302.285294</a>

Jazyk výsledku

čeština

Název v původním jazyce

Overconfidence, Representativeness and Hearding Bias among German Investors: how demographic and other Variables Influence Their Decision

Popis výsledku v původním jazyce

The study assesses based on the responses from the survey of 342 persons how behavioural biases affect German investors' investment decisions. Three behavioural biases were examined: overconfidence, representativeness, and herding behavior. It was determined that demographic factors affecting German investors, such as gender, age, experience, education, and frequency of investment, influence this choice. Male German investors are more susceptible to all three biases than females. Young investors (<35 years) are more at risk for the overconfidence bias and the representativeness bias, while older investors (>35 years) are more at risk for the herding bias. Investors with a lower experience (<5 years) on the stock market have a higher tendency for the three biases than German investors with a higher experience (> five years). Investors with a high (i.e. university) education are more susceptible to the three biases than those with a low education. Investors with a high investing frequency (> three months) scored higher for all three biases than investors with a low investing frequency (<3 months).

Název v anglickém jazyce

Overconfidence, Representativeness and Hearding Bias among German Investors: how demographic and other Variables Influence Their Decision

Popis výsledku anglicky

The study assesses based on the responses from the survey of 342 persons how behavioural biases affect German investors' investment decisions. Three behavioural biases were examined: overconfidence, representativeness, and herding behavior. It was determined that demographic factors affecting German investors, such as gender, age, experience, education, and frequency of investment, influence this choice. Male German investors are more susceptible to all three biases than females. Young investors (<35 years) are more at risk for the overconfidence bias and the representativeness bias, while older investors (>35 years) are more at risk for the herding bias. Investors with a lower experience (<5 years) on the stock market have a higher tendency for the three biases than German investors with a higher experience (> five years). Investors with a high (i.e. university) education are more susceptible to the three biases than those with a low education. Investors with a high investing frequency (> three months) scored higher for all three biases than investors with a low investing frequency (<3 months).

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

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OECD FORD obor

50201 - Economic Theory

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2023

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

AD ALTA-JOURNAL OF INTERDISCIPLINARY RESEARCH

ISSN

1804-7890

e-ISSN

1804-7890

Svazek periodika

13

Číslo periodika v rámci svazku

2

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

9

Strana od-do

285-294

Kód UT WoS článku

001143971400056

EID výsledku v databázi Scopus

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