English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Plus annual

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Tools annual

Global: Zendy Free Plan

Global: Zendy Tools monthly

Global: Zendy Plus monthly

Muhammad Umer Quddoos, Amir Rafique, Usama Kalim, Muhammad Ramzan Sheikh Assistant Professor, Department of Commerce, Bahauddin Zakariya University Multan, Pakistan, umerattari@bzu.edu.pk Assistant Professor, Department of Management Sciences, COMSATS University Islamabad, Pakistan, amir.rafique@comsats.edu.pk MS Scholar, Department of Management Sciences, COMSATS University Islamabad, Pakistan, ukalim94@gmail.com Associate Professor, School of Economics, Bahauddin Zakariya University Multan, Pakistan, ramzansheikh@bzu.edu.pk ARTICLE DETAILS ABSTRACT History Revised format: November 2020 Available Online: December 2020 This study aims at understanding the relationships of certain behavioral biases with the investment performance, and identifies the moderating role of financial literacy upon these hypothesized relationships. Data is collected through questionnaire from the investors trading at Pakistan Stock Exchange (PSX). Structured Equation Modeling (SEM) is used to analyze the data with the results that only anchoring and overconfidence biases have significant effects on investment performance. The results also show that presence of financial literacy does not play any role in improving the performance of investors. Majorly, findings of current study contribute by testing the moderating role of financial literacy between the behavioral biases and the outcome of investment decisions and thus expected to be useful for investors and policy makers.

Impact of Behavioral Biases on Investment Performance in Pakistan: The Moderating Role of Financial Literacy