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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.identifier.issn1351-847X
dc.identifier.issn1466-4364
dc.identifier.urihttps://hdl.handle.net/20.500.12469/710
dc.identifier.urihttps://doi.org/10.1080/1351847X.2012.719829
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.
dc.language.isoEnglish
dc.publisherRoutledge Journals Taylor & Francis Ltd
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectPortfolio Risk
dc.subjectBehavioral Finance
dc.subjectEmerging Market
dc.subjectIndividual Investor
dc.subjectIversification
dc.titleA behavioral analysis of investor diversification
dc.typeArticle
dc.identifier.startpage499
dc.identifier.endpage523
dc.relation.journalThe European Journal of Finance
dc.identifier.issue6
dc.identifier.volume20
dc.identifier.wosWOS:000334060200001
dc.identifier.doi10.1080/1351847X.2012.719829
dc.contributor.khasauthorÖztürkkal, Belma


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