Does training on behavioral finance influence fund managers' perception and behavior?

Marina Nikiforow

Hannover Economic Papers (HEP) from Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät

Abstract: This paper provides survey evidence on the influence of training on behavioral finance on professional fund managers' perception and investment behavior. In particular, it examines whether "trained" fund managers differ from the "untrained" ones in their perception of markets and themselves as well as in their choice of information sources and investment strategies. Additionally, the influence of integration of behavioral finance approaches into investment processes is also considered. The results reveal that training on behavioral finance basically intensifies the perception of biases in the behavior of others, i.e. the reflection effect and the home bias. Training also reduces the affinity to conformity, leading to less reliance on colleagues and other market participants as information sources. However, pure training is insufficient to significantly affect fund managers' investment behavior, but behavioral finance approaches need to be integrated into investment processes.

Keywords: behavioral finance; fund managers; biases; training; integration (search for similar items in EconPapers)
JEL-codes: D83 G10 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2009-06
New Economics Papers: this item is included in nep-cbe, nep-hrm and nep-neu
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://diskussionspapiere.wiwi.uni-hannover.de/pdf_bib/dp-419.pdf (application/pdf)

Related works:
Journal Article: Does training on behavioural finance influence fund managers' perception and behaviour? (2010)
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:han:dpaper:dp-419

Access Statistics for this paper

More papers in Hannover Economic Papers (HEP) from Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät Contact information at EDIRC.
Bibliographic data for series maintained by Heidrich, Christian ().