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Article

Mohd Adil, Yogita Singh and Mohd. Shamim Ansari

The purpose of the study is to examine the impact of behavioural biases (i.e. overconfidence, risk-aversion, herding and disposition) on investment decisions amongst…

Abstract

Purpose

The purpose of the study is to examine the impact of behavioural biases (i.e. overconfidence, risk-aversion, herding and disposition) on investment decisions amongst gender. The authors further examine the moderation effect of financial literacy in the relationship between behaviour biases and investment decisions amongst gender.

Design/methodology/approach

The study considered a cross-sectional research design. For this survey, the data have been collected through a structured questionnaire from 253 individual investors of the Delhi-NCR region. To analyse the validity and reliability, the Pearson correlation and Cronbach's alpha test have been taken into account respectively. For testing the hypothesis, hierarchical regression analysis has been used in the study.

Findings

The results of the study reveal that amongst male investors, the influence of risk-aversion and herding on investment decision was negative and statistically significant, while the influence of overconfidence on investment decision was positive and significant. However, the influence of disposition was found statistically insignificant. The results stated that amongst female investors the effect of risk-aversion and herding on investment decision was negative and statistically significant. However, the effect of overconfidence and disposition was statistically insignificant influence the investment decision. It has been observed that financial literacy has significantly influenced investment decisions amongst male and female investors. The results of the interaction effect amongst male investors stated that the interaction between overconfidence and investment decision was significantly influenced by financial literacy. However, the interaction of financial literacy with the remaining three biases, i.e. risk-aversion, herding and disposition was found insignificant. The results for the interaction effect of financial literacy with overconfidence, risk-aversion, disposition and herding were found statistically significant amongst female investors.

Research limitations/implications

Based on this present research finding, the study is more productive for the portfolio manager and policymakers at the time of making an investment portfolio for the investors based on their behavioural biases. The study recommends that investors need training programmes, workshops and seminars that enhance financial literacy and financial knowledge of investors which helps them to overcome the behavioural biases while making an investment decision.

Originality/value

The current study aims to explore whether several behavioural biases can affect investment decisions amongst gender. Moreover, the authors would like to examine whether these associations are moderated by financial literacy. In this sense, financial literacy might also show a substantial part in the prediction of investments. The current study might be of the first study that examines the moderation effect financial literacy amongst male and female investors.

Details

Asian Journal of Accounting Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2443-4175

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Article

Nektarios Gavrilakis and Christos Floros

The purpose of this paper is to identify whether heuristic and herding biases influence portfolio construction and performance in Greece. The current research determines…

Abstract

Purpose

The purpose of this paper is to identify whether heuristic and herding biases influence portfolio construction and performance in Greece. The current research determines the situation among investors in Greece, a country with several economic problems for the last decade.

Design/methodology/approach

A survey has been conducted covering a group of active private investors. The relationship between private investors' behavior and portfolio construction and performance was tested using a multiple regression.

Findings

The authors find that heuristic variable affects private investor's portfolio construction and performance satisfaction level positively. A robustness test on a second group, consisting of professional investors, reveals that heuristic and herding biases affect investment behavior when constructing a portfolio.

Practical implications

The authors recommend investors to select professional's investment portfolio tools in constructing investment portfolios and avoid excessive errors, which occur due to heuristic. The awareness and understanding of heuristic and herding could be helpful for professionals and decision-makers in financial institutions by improving their performance resulting in more efficient markets.

Originality/value

The main contribution of this paper lies in the fact that it is the first study on two major behavioral dimensions that affect the investor's portfolio construction and performance in Greece. The rationale of the current research is that the results are helpful for investors in order to take rational, reliable and profitable decisions.

Details

Review of Behavioral Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1940-5979

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Article

Imran Khan, Mustafa Afeef, Shahid Jan and Anjum Ihsan

The purpose of this paper is to investigate the effect of heuristic biases, namely, availability bias and representativeness bias on investors’ investment decisions in the…

Abstract

Purpose

The purpose of this paper is to investigate the effect of heuristic biases, namely, availability bias and representativeness bias on investors’ investment decisions in the Pakistan stock exchange, as well as the moderating role of long-term orientation.

Design/methodology/approach

Using a structured questionnaire, a total of 374 responses have been collected from individual investors trading in PSX. The relationship was tested by applying the partial least square structural equation model using SmartPLS 3.2.2. Further, Henseler and Chin’s (2010) product indicator approach for moderation analysis was applied to the data set.

Findings

The results revealed that availability bias and representativeness bias have a significant and positive influence on the investment decisions of investors. Furthermore, a significant moderating effect of long term orientation on the effect of representativeness bias on investment decision is observed. This suggests that investors’ long term orientation weaken the effect of representativeness bias on investment decision. However, no significant moderating effect was observed for availability bias.

Originality/value

The paper provides novel insights on the role of heuristic-driven biases on the investment decisions of individual investors in the stock market. Particularly, it enhanced the understanding of behavioral aspects of investment decision-making in an emerging market.

Details

Qualitative Research in Financial Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1755-4179

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Article

Hao Chen, Ofir Turel and Yufei Yuan

Electronic waste (e-waste) such as discarded computers and smartphones may contain large amounts of confidential data. Improper handling of remaining information in…

Abstract

Purpose

Electronic waste (e-waste) such as discarded computers and smartphones may contain large amounts of confidential data. Improper handling of remaining information in e-waste can, therefore, drive information security risk. This risk, however, is not always properly assessed and managed. The authors take the protection motivation theory (PMT) lens of analysis to understand intentions to protect one's discarded electronic assets.

Design/methodology/approach

By applying structural equation modeling, the authors empirically tested the proposed model with survey data from 348 e-waste handling users.

Findings

Results highlight that (1) protection intention is influenced by the perceived threat of discarding untreated e-waste (a threat appraisal) and self-efficacy to treat the discarded e-waste (a coping appraisal) and (2) optimism bias plays a dual-role in a direct and moderating way to reduce the perceived threat of untreated e-waste and its effect on protection intentions.

Originality/value

Results support the assertions and portray a unique theoretical account of the processes that underline people's motivation to protect their data when discarding e-waste. As such, this study explains a relatively understudied information security risk behavior in the e-waste context, points to the role of optimism bias in such decisions and highlights potential interventions that can help to alleviate this information security risk behavior.

Details

Information Technology & People, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0959-3845

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Article

Ronald J. Burke

Examines the relationship of individual demographiccharacteristics, work‐setting factors and work outcomes to perceivedbias, both personally experienced and observed in…

Abstract

Examines the relationship of individual demographic characteristics, work‐setting factors and work outcomes to perceived bias, both personally experienced and observed in organizational decision making. Data were collected from 829 women and 766 men employed in a single professional services firm using anonymously completed questionnaires. Although both women and men perceived bias, women reported significantly higher levels of both personally experienced and observed bias. Perceived bias was correlated with work settings and work outcomes similarly for women and men. Women and men experiencing and observing more bias, described the work setting as less favourable and were less satisfied, more likely to quit and saw the organization as less committed to fairness and due process. Draws implications for management and organizations.

Details

International Journal of Career Management, vol. 7 no. 1
Type: Research Article
ISSN: 0955-6214

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Article

Idil Sayrac Yaveroglu, Naveen Donthu and Adriana Garcia

Using a large‐scale database of a major business services company, self‐reported usage volume data were compared with actual usage volume. Several business‐related factors…

Abstract

Using a large‐scale database of a major business services company, self‐reported usage volume data were compared with actual usage volume. Several business‐related factors were then examined in relation to the survey response bias. Survey response bias was found to be lower for clients that use the services more extensively, had been in business for a longer period of time, and have smaller number of employees. Survey response bias was also found to be lower when the level of involvement with the service (lower level of management in this study) was greater. Such response bias information would be useful for managers when making sales forecasts or market share estimations using survey responses.

Details

Journal of Business & Industrial Marketing, vol. 18 no. 4/5
Type: Research Article
ISSN: 0885-8624

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Article

Thomas B. Christie

The purpose of this paper is to reveal perceptions of news organization bias among people who use the internet.

Abstract

Purpose

The purpose of this paper is to reveal perceptions of news organization bias among people who use the internet.

Design/methodology/approach

Data for this study were drawn from the Pew Research Center June 2005 News Interest Index. Respondents were asked if news organizations were politically biased in their reporting. Another question asked respondents if news organizations had a liberal or conservative bias. The final question asked respondents to judge news organization bias on political and social issues.

Findings

In two of the three perceptions of internet user/non‐user ratings of ideological bias in news organizations, internet news users surveyed rate news organizations as more biased than non‐users. However, when asked to ascertain either liberal or conservative bias in news organizations, non‐internet news users were more likely to claim that news organizations were biased.

Research limitations/implications

More valid measures of the dimension of liberal and conservative bias could help in analyzing the effect of this particular variable on the use of the internet for news. Also, there is the possibility of some confusion in identifying internet news sources.

Practical implications

Advertising revenue of traditional media could decline as news use shifts to internet sources, and customers of the traditional US news networks would continue to migrate to the internet.

Originality/value

As this new media technology has the potential to reach new markets throughout the world, consumers who perceive that traditional news media are ideologically biased may favor the new medium over more traditional sources of news.

Details

Competitiveness Review: An International Business Journal, vol. 19 no. 1
Type: Research Article
ISSN: 1059-5422

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Article

Himani Oberai and Ila Mehrotra Anand

Unconscious biases are often ignored in organizations; thus, it becomes more important to identify them so that we can build strong and competent organizations. In present…

Abstract

Purpose

Unconscious biases are often ignored in organizations; thus, it becomes more important to identify them so that we can build strong and competent organizations. In present dynamic and competitive business situations, you need to be well aware about those concerns of the organizations where these biases exist.

Design/methodology/approach

This paper identifies various types of unconscious biases prevailing at workplace. It also identifies different strategies which can be used to avoid them so that we can gain a competitive edge over others in market.

Findings

Unconscious biases are a fact of life; no one can deny them. Thus, it is important to identify them so that they can be eliminated, and our businesses can avoid their detrimental effects.

Research limitations/implications

Unconscious biases narrow down the pool of people in an organization and ultimately destabilize an organization’s base.

Practical implications

Unconscious biases narrow down the pool of people in the organization and ultimately destabilize an organization’s base.

Originality/value

This paper can help managers and executives to highlight the areas where these biases lie so that they can be removed easily.

Details

Human Resource Management International Digest, vol. 26 no. 6
Type: Research Article
ISSN: 0967-0734

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Book part

Kayla Allison

Purpose – The overall purpose of this chapter is to discuss what is known about serious forms of bias violence, obstacles to studying bias violence, and how alternative…

Abstract

Purpose – The overall purpose of this chapter is to discuss what is known about serious forms of bias violence, obstacles to studying bias violence, and how alternative theoretical and methodological approaches can advance our understanding of bias violence in the twenty-first century.

Design/methodology/approach – Following a review of the literature, the applicability of identity fusion theory for explaining bias violence is considered and applied to the anti-racial mass shooting at an historically Black church in Charleston, South Carolina. Data come from an innovative open-source project known as the United States Extremist Crime Database.

Findings – Drawing from identity fusion theory, information from open-source data on the Charleston church shooting suggests that the perpetrator was a highly fused individual who perceived African Americans as a threat toward his social identity group and committed an act of extreme behavior (i.e., bias homicide) as a means for stabilizing his self-views.

Originality/value – This chapter builds upon prior studies of bias violence by demonstrating how (1) publicly available open sources (e.g., court documents and media reports) may be systematically compiled and used as reliable data for studying serious forms of bias violence, and (2) the use of social psychological theories, specifically identity fusion theory, can help to explain the role of personal and group identities in discriminatory violence.

Details

Homicide and Violent Crime
Type: Book
ISBN: 978-1-78714-876-5

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Book part

Eve Fine, Jennifer Sheridan, Molly Carnes, Jo Handelsman, Christine Pribbenow, Julia Savoy and Amy Wendt

We discuss the implementation of workshops for faculty search committees at the University of Wisconsin-Madison. A central focus of the workshops is to introduce faculty…

Abstract

Purpose

We discuss the implementation of workshops for faculty search committees at the University of Wisconsin-Madison. A central focus of the workshops is to introduce faculty to research on the influence of unconscious bias on the evaluation of job candidates and to recommend evidence-based strategies for minimizing this bias. The workshops aim to help universities achieve their goals of recruiting excellent and diverse faculty.

Methodology

With basic descriptive statistics and a simple logistic regression analysis, we utilize several datasets to examine participants’ responses to the workshop and assess changes in the percentage of women who receive offers and accept positions.

Findings

Faculty members are becoming aware of the role bias can play in evaluating faculty applicants and are learning strategies for minimizing bias. In departments where women are underrepresented, workshop participation is associated with a significant increase in the odds of making a job offer to a woman candidate, and with a non-significant increase in the odds of hiring a woman.

Limitations

This study is limited by our inability to assess the diversity of the applicant pools our faculty search committees recruit and by lack of control over the myriad other factors that influence hiring. Data are from a single institution and therefore these results may not generalize to other universities.

Originality/value

Educating faculty search committees about the role of unconscious bias and presenting them with evidence-based strategies for minimizing its influence promotes changes that contribute to increasing representation of women faculty.

Details

Gender Transformation in the Academy
Type: Book
ISBN: 978-1-78441-070-4

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