Factors Influencing Stock Price Prediction: Demographics, Mental State, Company Origin, and Past Performance

This study investigates the interplay between socio-demographic factors, mental state, and stock price prediction behavior among a sample of 150 individuals in Ulaanbaatar, Mongolia. Participants were tasked with completing incomplete graphs, varying in context in three survey groups, allowing for an exploration of how age, gender, and past value perceptions, and contextual things influence prediction patterns. The research aims to understand the cognitive biases underpinning investment decisions, particularly in a context of limited financial literacy. By analyzing completed graphs, the study identifies distinct decision-making tendencies across age and gender groups. Additionally, it examines whether the type of given context of the graph impacts prediction behavior in a certain way. While emotional bias was found to be less influential, the study reveals significant differences in predictions based on contextual differences, also the study revealed certain age and gender group tendencies bias proneness for certain biases. These findings contribute to a deeper understanding of investor psychology and provide insights for financial advisors seeking to tailor strategies based on client demographics.