EconPapers    
Economics at your fingertips  
 

Financial Professionals' Overconfidence: Is It Experience, Function, or Attitude?

Oliver Gloede and Lukas Menkhoff

European Financial Management, 2014, vol. 20, issue 2, 236-269

Abstract: This paper examines financial professionals’ overconfidence in their forecasting performance. We compare individuals’ self†rating of performance with the true performance, both measured relative to the same peer group. The forecasters in our sample show overconfidence on average, although to a moderate degree, including many cases of underconfidence. In analysing this, we find that working experience is accompanied by less overconfidence. Function is also related to less overconfidence, such as being a fund manager and using fundamental analysis. The same effect is found for the attitude to herd, whereas recent success appears with more overconfident professionals.

Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

Downloads: (external link)
https://doi.org/10.1111/j.1468-036X.2011.00636.x

Related works:
Working Paper: Financial professionals' overconfidence:Is it experience, function, or attitude? (2011) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:eufman:v:20:y:2014:i:2:p:236-269

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=1354-7798

Access Statistics for this article

European Financial Management is currently edited by John Doukas

More articles in European Financial Management from European Financial Management Association Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().

 
Page updated 2025-03-22
Handle: RePEc:bla:eufman:v:20:y:2014:i:2:p:236-269