Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/340307 
Year of Publication: 
2022
Citation: 
[Journal:] Borsa İstanbul Review [ISSN:] 2214-8469 [Volume:] 22 [Issue:] 4 [Year:] 2022 [Pages:] 780-793
Publisher: 
Elsevier, Amsterdam
Abstract: 
This study examines the determinants of overconfidence bias that, in turn, influence investment performance via risk propensity. This study also investigates the three cognitive biases that lead to overconfidence bias, influence investment performance, and establish the indirect relationship through risk propensity. The mixed methodology is applied to examine the proposed research model. The results depict that all the cognitive biases influence the risk propensity and investment performance via risk propensity. The illusion of control is the strongest predictor of risk propensity and investment performance. Furthermore, findings imply that all the cognitive biases have a positive relation with investment performance. This study provides policy implications to practitioners and individual investors.
Subjects: 
Illusion of control
Individual investors
Investment performance
Optimism
Overconfidence bias
Self-attribution
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article
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