Please Wait! Your file will start to download within 10 seconds automatically. Otherwise click here Download

Behavioural Finance: Investors Self Attribution and Overconfidence


Shashi Bhushan Mishra , Dr. Richa Darshan ,

Download Full PDF Pages: 78-81 | Views: 1304 | Downloads: 331 | DOI: 10.5281/zenodo.3490350

Volume 7 - December 2018 (12)


Self attribution and overconfidence both are behavioural finance principles, from which investors suffer. In this paper, an examination has been made to discover the mental qualities like Risk Aversion, Regret, Overconfidence and Self Attribution biases of the investors. The present study concludes whether investor’s behaviour is rational as presumed under the efficient market hypothesis or investor suffers from self attribution or overconfidence biases. These biases are profound established in investors and can be ascribed to their gender, age and their association in the market.  The study finds out that some of the investor having overconfidence bias is higher than those having self attribution bias. Overconfidence bias is reduced with the age and gender, while self attribution bias is increasingly overwhelming among the investors


Behavioural Finance; Investor’s Self Attribution; Overconfidence


                                i.            Misal D.M. (2013). A study of Behavioral Finance and Investment Emotions in India Capital Market. International Journal of Economics and Business Modelling, Vol. 1, 2013 pp-206-218.

                              ii.            Jain Kanu, Wadhwa Sahaj (2013). Behavioural Biases and Investment Process (A special reference to Self-attribution bias and Over-confidence bias). IRACST-International Journal of Commerce, Business and Management (IJCBM) Vol. 2 No. 6, ISSN 2319-2328.

                            iii.            H.M. Rakesh (2014). Impact of Behavioural Finance on Stock Markets. IRACST-International Journal of Commerce, Business and Management (IJCBM) Vol. 3 No. 1, ISSN 2319-2328.

                             iv.            Sharma Amlan Jyoti (2014). Understanding Cognitive Dissonance – The Behavioural Finance Principles. IRACST-International Journal of Commerce, Business and Management (IJCBM) Vol. 3 No. 1, ISSN 2319-2328.

                               v.            Sharma Amlan Jyoti (2014). The Behavioural Finance: A Challenge or Replacement to Efficient Market Concept. The SIJ Transactions on Industrial, Financial and Business Management (IFBM) Vol. 2 No. 6.

                             vi.            Titus SUCIU (2015). From the Classical Finance to the Behavioural Finance. Journal of Public Administration, Finance and Law, Issue 7/ 2015, pp-80-88

                           vii.            Sharma Amlan Jyoti (2016). Role of Behavioural Finance in the Financial Market. The International Journal of Business and Management Inventions, Vol. 5 Issue 1, ISSN (Online) 2319-8028.

                         viii.            Suryawanshi P.B., Jumle Anand G. (2016). Comparison of Behavioural Finance and Traditional Finance: For Investment Decisions. IRACST-International Journal of Commerce, Business and Management (IJCBM) Vol. 5 No. 3, ISSN 2319-2828.

                             ix.            Kapoor Sujata, Prosad Jaya M. (2017). Behavioural Finance: A Review. Elsevier Science Direct, Information Technology and Quantitative Management (ITQM2017), Procedia Computer Science 122 (2017) 50-54.

Cite this Article: