THE INFLUENCE OF BEHAVIORAL FINANCE ON INVESTMENT CHOICES
- Project Research
- 1-5 Chapters
- Quantitative
- Simple Percentage
- Abstract : Available
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- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
THE INFLUENCE OF BEHAVIORAL FINANCE ON INVESTMENT CHOICES
This research explores the influence of behavioral finance on investment choices, focusing on: (1) the impact of cognitive biases on investment decisions; (2) the strategies for mitigating the effects of behavioral biases; (3) the challenges in understanding investor behavior. A survey research design is utilized to collect quantitative data. Taro Yamane's formula is used to derive a sample size of 310 respondents from Lagos, representing a mix of retail and institutional investors. An investment advisory firm is selected as the case study due to its focus on investor behavior. The reliability coefficient score for the survey instrument is 0.86. Findings indicate that cognitive biases, such as overconfidence and loss aversion, significantly influence investment choices. Techniques such as investor education, decision aids, and behavioral coaching are highlighted. It is recommended that investors increase their awareness of behavioral biases, seek unbiased advice, and implement systematic decision-making processes to improve investment outcomes.
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