Abstract
This study focuses on the psychological aspect of the stock investors at Islamabad Stock Exchange and its effect on their investment decision. In particular, we studied the overconfidence Phenomenon and its possible determinants through a survey methodology. These determinants include age, trading experience, academic qualification, income sources and performance of investment in stocks. Our sample consists of 113 randomly selected floor traders. The results show that Pakistani investors are overconfident of their trading skills and investment decisions.
A stepwise regression analysis shows that education is the only factor that positively and significantly increases overconfidence and the rest of the factors affect overconfidence of investors negatively. Statistical analysis was performed using SPSS.
Muhammad Arif, Muhammad Zubair Khan. (2013) Stock Investors’ Overconfidence: Evidence from Islamabad Stock Exchange, Journal of Applied and Emerging Sciences, Volume 4, Issue 1.
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