Open AccessImpact of Behavioral Biases on Investment Decision Making with Moderating Role of Financial Literacy
Author(s) -
Rizwan Khalid,
Muhammad Aslam Javed,
Khurram Shahzad
Publication year - 2018
Publication title -
jinnah business review
Language(s) - English
Resource type - Journals
eISSN - 2307-7921
pISSN - 2070-0296
DOI - 10.53369/rkxa7855
Subject(s) - overconfidence effect , financial literacy , herding , investment (military) , investment decisions , sample (material) , psychology , population , actuarial science , loss aversion , behavioral economics , economics , finance , social psychology , demography , political science , chemistry , chromatography , sociology , politics , law , forestry , geography
The objective of this study is to examine the Impact of Overconfidence bias and Herding bias on Investment Decision Making with Moderating Role of Financial Literacy. The population was Investor, Employee and Graduate Student. A sample of 200 was selected using convenience technique. Data were collected through structure questionnaire adopted from different papers. Correlation and Regression analysis were performed to examine the result. The Results show that overconfidence bias and herding bias have a positive impact on investment decision making and Financial Literacy has positive impact on investment decision making. Based on the results and discussions of the study findings as well as the limitations, theoretical and practical implications of the study have been provided.