INVESTOR BEHAVIOUR AND INVESTMENT DECISIONS : EVIDENCE FROM PAKISTAN STOCK EXCHANGE
This research aims to understand the influence of behavioural factors on investment decisions in the Pakistan Stock Exchange (PSX). This study gathered primary data using a survey-based questionnaire from 318 individual investors. The issue being investigated in this study is how behavioural element...
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Asian Academy of Management and Penerbit Universiti Sains Malaysia
2023
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Online Access: | http://ir.unimas.my/id/eprint/44592/1/INVESTOR%20BEHAVIOUR.pdf http://ir.unimas.my/id/eprint/44592/ https://ejournal.usm.my/aamj/article/view/aamj_vol28-no2-2023_1 https://doi.org/10.21315/aamj2023.28.2.1 |
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my.unimas.ir.445922024-04-18T02:15:19Z http://ir.unimas.my/id/eprint/44592/ INVESTOR BEHAVIOUR AND INVESTMENT DECISIONS : EVIDENCE FROM PAKISTAN STOCK EXCHANGE Muhammad, Ali Nayeem ul Hassan, Ansari Bilal Ahmed, Chishty Puah, Chin Hong Muhammad, Ashfaq HG Finance This research aims to understand the influence of behavioural factors on investment decisions in the Pakistan Stock Exchange (PSX). This study gathered primary data using a survey-based questionnaire from 318 individual investors. The issue being investigated in this study is how behavioural elements, such as sentiment, overconfidence, over- and underreaction, and perceived market efficiency, affect investment choices made on the PSX, with a particular emphasis on the limited predictive power of herd behaviour. The sample data were analysed using partial least square-structural equation modelling (PLS-SEM) based approach. Results indicate that financial knowledge, sentiment, overconfidence, over- and under-reaction, and perceived market efficiency significantly affect the investment decision. Interestingly, herd behaviour does not play a significant role in predicting investment decisions. However, we are certain that this study will provide a better understanding of the relationship between behavioural factors and an investor’s investment decision in Pakistan. Asian Academy of Management and Penerbit Universiti Sains Malaysia 2023 Article PeerReviewed text en http://ir.unimas.my/id/eprint/44592/1/INVESTOR%20BEHAVIOUR.pdf Muhammad, Ali and Nayeem ul Hassan, Ansari and Bilal Ahmed, Chishty and Puah, Chin Hong and Muhammad, Ashfaq (2023) INVESTOR BEHAVIOUR AND INVESTMENT DECISIONS : EVIDENCE FROM PAKISTAN STOCK EXCHANGE. Asian Academy of Management Journal, 28 (2). pp. 1-28. ISSN 2180-4184 https://ejournal.usm.my/aamj/article/view/aamj_vol28-no2-2023_1 https://doi.org/10.21315/aamj2023.28.2.1 |
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HG Finance Muhammad, Ali Nayeem ul Hassan, Ansari Bilal Ahmed, Chishty Puah, Chin Hong Muhammad, Ashfaq INVESTOR BEHAVIOUR AND INVESTMENT DECISIONS : EVIDENCE FROM PAKISTAN STOCK EXCHANGE |
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This research aims to understand the influence of behavioural factors on investment decisions in the Pakistan Stock Exchange (PSX). This study gathered primary data using a survey-based questionnaire from 318 individual investors. The issue being investigated in this study is how behavioural elements, such as sentiment, overconfidence, over- and underreaction, and perceived market efficiency, affect investment choices made on the PSX, with
a particular emphasis on the limited predictive power of herd behaviour. The sample data were analysed using partial least square-structural equation modelling (PLS-SEM) based
approach. Results indicate that financial knowledge, sentiment, overconfidence, over- and under-reaction, and perceived market efficiency significantly affect the investment decision. Interestingly, herd behaviour does not play a significant role in predicting investment
decisions. However, we are certain that this study will provide a better understanding of the relationship between behavioural factors and an investor’s investment decision in
Pakistan. |
format |
Article |
author |
Muhammad, Ali Nayeem ul Hassan, Ansari Bilal Ahmed, Chishty Puah, Chin Hong Muhammad, Ashfaq |
author_facet |
Muhammad, Ali Nayeem ul Hassan, Ansari Bilal Ahmed, Chishty Puah, Chin Hong Muhammad, Ashfaq |
author_sort |
Muhammad, Ali |
title |
INVESTOR BEHAVIOUR AND INVESTMENT DECISIONS : EVIDENCE FROM PAKISTAN STOCK EXCHANGE |
title_short |
INVESTOR BEHAVIOUR AND INVESTMENT DECISIONS : EVIDENCE FROM PAKISTAN STOCK EXCHANGE |
title_full |
INVESTOR BEHAVIOUR AND INVESTMENT DECISIONS : EVIDENCE FROM PAKISTAN STOCK EXCHANGE |
title_fullStr |
INVESTOR BEHAVIOUR AND INVESTMENT DECISIONS : EVIDENCE FROM PAKISTAN STOCK EXCHANGE |
title_full_unstemmed |
INVESTOR BEHAVIOUR AND INVESTMENT DECISIONS : EVIDENCE FROM PAKISTAN STOCK EXCHANGE |
title_sort |
investor behaviour and investment decisions : evidence from pakistan stock exchange |
publisher |
Asian Academy of Management and Penerbit Universiti Sains Malaysia |
publishDate |
2023 |
url |
http://ir.unimas.my/id/eprint/44592/1/INVESTOR%20BEHAVIOUR.pdf http://ir.unimas.my/id/eprint/44592/ https://ejournal.usm.my/aamj/article/view/aamj_vol28-no2-2023_1 https://doi.org/10.21315/aamj2023.28.2.1 |
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