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Behavioural finance: An empirical study of the investment decision-making process

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Resumo:Behavioral research has developed a significant theoretical background for revealing behavioral biases, however these biases are still overlooked in the investment allocation process. The main objective of this work is to include psychological analysis in the investor risk profile. Investors typically take a questionnaire before starting to invest, but these questionnaires only survey preferences and risk profile disregarding attitudes towards risk. This can sabotage otherwise well-intentioned efforts to achieve stated financial goals. For that reason, this work applies a “behavioral questionnaire” to analyze behavioral bias in investors. More than maximizes expected return for a given level of risk, the investment strategy should suit the investors psychological preferences. The questionnaire has questions that analyze the investment objective and needs according to behavior. The results led to a sample of young investors with high education level. Only four cognitive biases, between eleven, were detected but all with close definition showing consistency in the responses.
Autores principais:Lima, Luísa
Assunto:Behavioral finance investors questionnaire decision-making process finanças comportamentais investidores questionário processo de tomada de decisões
Ano:2023
País:Portugal
Tipo de documento:dissertação de mestrado
Tipo de acesso:acesso aberto
Instituição associada:Universidade Nova de Lisboa
Idioma:inglês
Origem:Repositório Institucional da UNL

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