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A Study Of The Investment Behavior Based On Behavioral Finance

Author

Listed:
  • Yu Zhang

    (Shanghai University)

  • Xiaosong Zheng

    (Tallinn University of Technology)

Abstract

Behavior finance introduces psychology, sociology and other research methods into the study of investment behavior to explain how investors handle the information and take actions. This paper presents the literatures as theoretical solutions to the market anomalies of the traditional market theories. The behavioral psychology is examined through the study on the questionnaire of Chinese security investors. The results show that the investors are not always adopt rational behaviors as traditional finance theory assumed, but make a lot of irrational decisions based on individual cognitive and prejudices, even institutional investors often show the characteristic of irrational. In the guidance of the behavioral finance theory, the research will be closer to the reality and give more significant insight to the selection of investment strategy and psychology characteristic used to explain market anomalies.

Suggested Citation

  • Yu Zhang & Xiaosong Zheng, 2015. "A Study Of The Investment Behavior Based On Behavioral Finance," European Journal of Business and Economics, Central Bohemia University, vol. 10(1), pages 5571:10-557, June.
    • Handle: RePEc:aad:ejbejj:v:10:y:2015:i:1:p:557
    DOI: 10.12955/ejbe.v10i1.557
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    Cited by:

    1. Arvindh Rajasekar & Arul Ramanatha Pillai & Rajesh Elangovan & Satyanarayana Parayitam, 2023. "Risk capacity and investment priority as moderators in the relationship between big-five personality factors and investment behavior: a conditional moderated moderated-mediation model," Quality & Quantity: International Journal of Methodology, Springer, vol. 57(3), pages 2091-2123, June.

    More about this item

    Keywords

    psychologybehavior; anomalies; investor; finance;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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