FACTORS AFFECTING INVESTMENT DECISION IN THE CONDITION OF UNCERTAINTY
DOI:
https://doi.org/10.24867/22GI06BoskicKeywords:
Decision-making factors, Investors, Investments, Socio-demographic characteristicsAbstract
The problem of this research was to determine which factors influence the investment decision of investors of our country, i.e. those that can potentially violate rationality in decision-making, on the other hand, the level and statistical significance of these factors will be determined through the prism of socio- demographic characteristics of investors.
References
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[2] D. Kourtidis, Z. Sevic, P. Chatzoglou, “ Investors’ trading activity: A behavioural perspective and empirical results”, The Journal of Socio-Economics, Vol. 40, pp. 548-557, 2011.
[3] R. Nagy, R. Obenberger, “Factors influencing individual investor behavior”, Financial Analysts Journal, Vol. 50, pp. 63-68, 1994.
[4] A. Kim, R. Nofsinger, “Behavioral finance in Asia”, Pacific-Basin Finance Journal, Vol.16, pp. 1-7, 2008.
[5] E. Fama,”Efficient Capital Markets: A Review of Theory and Empirical Work”, The Journal of Finance, Vol. 25, pp. 383-417, 1970.
[6] D.A. Evans, “Subject perceptions of confidence and predictive validity in financial cues”, Journal of behavioral Finance, Vol. 7(1), pp. 12–28, 2006.
[7] D. Kahneman, A. Tversky, “Prospect theory: an analysis of decision-making under risk”, Econometrica, Vol. 47(2), pp. 263–291, 1979.
[8] A. Keller, M. Siegrist, “Investing in stocks: The influence of financial risk attitude and values-related money and stock market attitudes”, Journal of Economic Psychology, Vol. 27(2), pp. 285-303, 2006.
[9] J.R. Ritter, “Behavioral finance”, Pacific-Basin finance journal, Vol. 11(4), pp. 429-437, 2003.
[10] M. Hilbert, “Toward a synthesis of cognitive biases: How noisy information processing can bias human decision making”, Psychological bulletin, Vol. 138(2), pp. 211, 2012.
[11] M. Simon, S. Houghton, K. Aquino, “Cognitive biases, risk perception, and venture formation: How individuals decide to start companies”, Journal of business venturing, Vol. 15(2), pp. 113-134, 2000.
[12] J. Nofsinger, “The psychology of investing”, New York, Routledge, 2016.
[13] M. Broihanne, M. Merli, P. Roger, “Overconfidence, risk perception and the risk taking behavior of finance professionals”, Finance Research Letters, Vol. 11(2), pp. 64-73, 2014.
[14] J. Corter, Y. Chen, “Do investment risk tolerance attitudes predict portfolio risk?” Journal of Business and Psychology, Vol. 20(3), pp. 369, 2006.
[15] M. Pompian, “Behavioral finance and investor types: managing behavior to make better investment decisions”, New York, John Wiley & Sons, 2012.
[16] D. Dittrich, W. Güth, B. Maciejovsky, “Overconfidence in investment decisions: An experimental approach”, The European Journal of Finance, Vol. 11(6), pp. 471-491, 2005.
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Published
2023-05-05
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Section
Industrial Engineering and Management
