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العنوان
The Effect of Overconfidence, Disposition Effect, and Representativeness Bias on Equity Portfolis characteristics and performance of the Individual Investors in the Egyptian Stock Market =
المؤلف
Hassan,Wessam Mohsen Abdel Aziz.
هيئة الاعداد
باحث / wessam mohsen abdel aziz hassan
مشرف / mohamed saleh al hennawi
مشرف / al sayeda abdel fattah ismail
مشرف / saad abdel hamed
الموضوع
Overconfidence. causes of overconfidence .
تاريخ النشر
2016.
عدد الصفحات
86 p. :
اللغة
الإنجليزية
الدرجة
الدكتوراه
التخصص
الأعمال والإدارة والمحاسبة (المتنوعة)
الناشر
تاريخ الإجازة
15/1/2017
مكان الإجازة
جامعة الاسكندريه - كلية الاعمال - ادارة الاعمال
الفهرس
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Abstract

The research aims at examining; at the individual Egyptian investor level; the
existence of three psychological biases; namely; overconfidence, disposition effect and
representativeness bias; in addition to delineating the effect of these psychological biases on
trading frequency, portfolio size, and investment returns. Lastly it investigates the likelihood
of co-existence of each pair of the aforementioned psychological biases in the trading records
of the investors. Results reveal that; firstly; Egyptian investors display overconfidence,
reverse disposition effect, and representativeness bias. Secondly, overconfidence, reverse
disposition effect and representativeness bias negatively influence trading frequency. Thirdly,
overconfident investors, investors who display reverse disposition effect, and investors who
exhibit representativeness bias are inclined to hold small portfolios. Fourth, overconfident
investors and investors displaying reverse disposition effect achieve lower investment returns.
Fifth, overconfidence and reverse disposition effect are more likely to co-exist in the trading
records of individual investors, while overconfidence and representativeness bias; on the one
hand; and reverse disposition effect and representativeness bias; on the other; are less likely to
co-exist together in the trading records of investors.