Factors Influencing Investors Decisions in Shares of Quoted Companies in Nigeria

Omo Aregbeyen* and Stanley Ogochukwu Mbadiugha*

Pakistan Journal of Applied Economics, 2012, vol. 22, 53-65

Abstract: There has been significant investment in shares market in Nigeria in recent years. This paper investigates the factors that have influenced the share investment decisions of a sample of 2000 Nigerian investors. Anchored on the behavioral finance theory, it explored and analysed the influence of various social, economic, psychological, and cultural factors and sub-groups as indicated by available literature. Our findings showed the degree of influence of each factor as well as the sub-groups. However, there were no significant differences among the subgroups. The study therefore concluded that investment decisions in shares by Nigerians investors are influenced jointly by several groups of factors.

Date: 2012
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