A study on the impact of investment experience, gender, and level of education on overconfidence and self-attribution bias

By K. Mishra, Mary J. Metilda. 2015

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Abstract This paper aims at studying the impact of investment experience, gender, and level of education on two specific biases—overconfidence and self-attribution, and exploring the relationship between the two biases. Data collected from a sample of 309 mutual fund investors were analysed. The results show that overconfidence is higher among men than women and increases with investment experience and education. Self-attribution increases with education, but there is no significant association between self-attribution bias and gender, as also between self-attribution bias and investor's experience. The findings also show a significant association between self-attribution and overconfidence.

Subfields: Accounting, Finance

View Paper: https://www.semanticscholar.org/paper/e3c1ef7edf8fd653f756fa8a2ca1bf4f50fa4642