群体行为,处置效应和投资决策:对风险感知和股息政策的多媒介分析
Sarfaraz Ahmed Bhutto1, Nazia Nazeer1, Muhammad Saad1
1National University of Computer and Emerging Sciences, Karachi, Pakistan.
Acta psychologica
|April 2, 2025
概括
投资者心理显著影响股票市场的决策. 通过风险感知和股息政策调解的群体行为和处置效应,影响了巴基斯坦证券交易所 (PSX) 的投资选择.
科学领域:
- 行为金融是行为金融.
- 金融心理学 金融心理学
- 股票市场分析 股票市场分析
背景情况:
- 传统金融将股票波动与市场效率联系在一起.
- 行为金融强调投资者的情绪和心理.
- 了解心理因素对于投资决策至关重要.
研究的目的:
- 调查风险感知和股息政策的多媒介作用.
- 分析群体行为和倾向影响对投资决策的影响.
- 探索这些机制在巴基斯坦证券交易所 (PSX).
主要方法:
- 横截面的定量研究设计.
- 从256个个人投资者收集的数据.
- 结构方程建模 (SEM) 用于多媒介分析.
主要成果:
- 群体行为和倾向效应对投资决策产生积极影响.
- 风险感知和股息政策在很大程度上调解了这种关系.
- 投资者决策受到心理偏见和市场因素的影响.
结论:
- 投资者的行为是复杂的,受心理偏见的影响.
- 风险感知和股息政策发挥着关键的调解作用.
- 对于PSX的投资者和政策制定者来说,对行为因素的认识至关重要.
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