Influence of perceived past portfolio returns on investing decisions in Malaysia under the presence of behavioural biases and preferences for firm characteristics
Stockholding participation among retail investors in the Malaysian stock market has been low with a large number of inactive trading accounts. Stock market liquidity has been reduced; retail investors have lost their opportunities on stockholding premium and have ultimately held undiversified portfo...
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2015
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my-mmu-ep.63412016-06-09T09:26:50Z Influence of perceived past portfolio returns on investing decisions in Malaysia under the presence of behavioural biases and preferences for firm characteristics 2015-09 Mohammad Tariqul Islam, Khan HG4501-6051 Investment, capital formation, speculation Stockholding participation among retail investors in the Malaysian stock market has been low with a large number of inactive trading accounts. Stock market liquidity has been reduced; retail investors have lost their opportunities on stockholding premium and have ultimately held undiversified portfolios. To address these issues, this study investigates investors’ preference for firm characteristics, optimism and overconfidence as potential determinants of their trading activity, financial risk taking, and asset allocation in the Malaysian stock market. The study then investigates the role of perceived past portfolio returns on investors’ preferences for firm characteristics, optimism, overconfidence and investing decisions. Ultimately, the study investigates the mediating effects between perceived past portfolio returns and investing decisions. This study is more comprehensive as previous literature has only considered one of these determinants in investing decisions. This study also investigates the mediating channels between perceived past portfolio returns and investing decisions, which are empirically lacking in the literature. 2015-09 Thesis http://shdl.mmu.edu.my/6341/ http://library.mmu.edu.my/diglib/onlinedb/dig_lib.php phd doctoral Multimedia University Faculty of Management |
| institution |
Multimedia University |
| collection |
MMU Institutional Repository |
| topic |
HG4501-6051 Investment capital formation speculation |
| spellingShingle |
HG4501-6051 Investment capital formation speculation Mohammad Tariqul Islam, Khan Influence of perceived past portfolio returns on investing decisions in Malaysia under the presence of behavioural biases and preferences for firm characteristics |
| description |
Stockholding participation among retail investors in the Malaysian stock market has been low with a large number of inactive trading accounts. Stock market liquidity has been reduced; retail investors have lost their opportunities on stockholding premium and have ultimately held undiversified portfolios. To address these issues, this study investigates investors’ preference for firm characteristics, optimism and overconfidence as potential determinants of their trading activity, financial risk taking, and asset allocation in the Malaysian stock market. The study then investigates the role of perceived past portfolio returns on investors’ preferences for firm characteristics, optimism, overconfidence and investing decisions. Ultimately, the study investigates the mediating effects between perceived past portfolio returns and investing decisions. This study is more comprehensive as previous literature has only considered one of these determinants in investing decisions. This study also investigates the mediating channels between perceived past portfolio returns and investing decisions, which are empirically lacking in the literature. |
| format |
Thesis |
| qualification_name |
Doctor of Philosophy (PhD.) |
| qualification_level |
Doctorate |
| author |
Mohammad Tariqul Islam, Khan |
| author_facet |
Mohammad Tariqul Islam, Khan |
| author_sort |
Mohammad Tariqul Islam, Khan |
| title |
Influence of perceived past portfolio returns on investing decisions in Malaysia under the presence of behavioural biases and preferences for firm characteristics |
| title_short |
Influence of perceived past portfolio returns on investing decisions in Malaysia under the presence of behavioural biases and preferences for firm characteristics |
| title_full |
Influence of perceived past portfolio returns on investing decisions in Malaysia under the presence of behavioural biases and preferences for firm characteristics |
| title_fullStr |
Influence of perceived past portfolio returns on investing decisions in Malaysia under the presence of behavioural biases and preferences for firm characteristics |
| title_full_unstemmed |
Influence of perceived past portfolio returns on investing decisions in Malaysia under the presence of behavioural biases and preferences for firm characteristics |
| title_sort |
influence of perceived past portfolio returns on investing decisions in malaysia under the presence of behavioural biases and preferences for firm characteristics |
| granting_institution |
Multimedia University |
| granting_department |
Faculty of Management |
| publishDate |
2015 |
| _version_ |
1747829632876412928 |