A behavioral analysis of investor diversification

dc.contributor.authorFuertes, Ana-Maria
dc.contributor.authorMuradoğlu, Gülnur
dc.contributor.authorÖztürkkal, Belma
dc.date.accessioned2019-06-27T08:02:55Z
dc.date.available2019-06-27T08:02:55Z
dc.date.issued2014
dc.departmentFakülteler, İşletme Fakültesi, Uluslararası Ticaret ve Finans Bölümüen_US
dc.description.abstractThis paper studies the link between individual investors' portfolio diversification levels and various personal traits that proxy informational advantages and overconfidence. The analysis is based on objective data from the largest Turkish brokerage house tracking 59951 individual investors' accounts with a total of 3248654 million transactions over the period 2008-2010. Wealthier highly educated older investors working in the finance sector and those trading relatively often show higher diversification levels possibly because they are better equipped to obtain and process information. Finance professionals married investors and those placing high-volume orders through investment centers show poorer diversification possibly as a reflection of overconfidence. Our analysis reveals important nonlinear effects implying that the marginal impact of overconfidence on diversification is not uniform across investors but varies according to the investor's information gathering and processing abilities.en_US]
dc.identifier.citation20
dc.identifier.doi10.1080/1351847X.2012.719829en_US
dc.identifier.endpage523
dc.identifier.issn1351-847Xen_US
dc.identifier.issn1466-4364en_US
dc.identifier.issn1351-847X
dc.identifier.issn1466-4364
dc.identifier.issue6
dc.identifier.scopus2-s2.0-84897452590en_US
dc.identifier.scopusqualityQ1
dc.identifier.startpage499en_US
dc.identifier.urihttps://hdl.handle.net/20.500.12469/710
dc.identifier.urihttps://doi.org/10.1080/1351847X.2012.719829
dc.identifier.volume20en_US
dc.identifier.wosWOS:000334060200001en_US
dc.identifier.wosqualityQ3
dc.institutionauthorÖztürkkal, Belmaen_US
dc.language.isoenen_US
dc.publisherRoutledge Journals Taylor & Francis Ltden_US
dc.relation.journalThe European Journal of Financeen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectPortfolio Risken_US
dc.subjectBehavioral Financeen_US
dc.subjectEmerging Marketen_US
dc.subjectIndividual Investoren_US
dc.subjectIversificationen_US
dc.titleA behavioral analysis of investor diversificationen_US
dc.typeArticleen_US
dspace.entity.typePublication

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