Please use this identifier to cite or link to this item: https://www.um.edu.mt/library/oar/handle/123456789/82502
Title: An analysis on the financial behaviour of investors within the Maltese investment population
Authors: Caruana, Christoph (2019)
Keywords: Investments -- Malta
Investments -- Malta -- Psychological aspects
Investments -- Malta -- Decision making
Efficient market theory
Issue Date: 2019
Citation: Caruana, C. (2019). An analysis on the financial behaviour of investors within the Maltese investment population (Bachelor's dissertation).
Abstract: The main objective of this study is to explore several behavioural biases and analyse their impact on Maltese investors. To conduct this study, a questionnaire was distributed among both individual and institutional investors. After analysing the data, every demographic group was further analysed, to determine which segment was mostly affected by these biases. Although many financial theories suggest that investors have rational expectations and make decisions to achieve the greatest possible returns, under a tolerable level of risk, behavioural finance seems to contradict these theories. Behavioural finance refers to the study of the influence of psychological factors on financial markets. Investors do not always make rational decisions, and sometimes, these deviations from rational behaviour lead to certain market anomalies. These market anomalies contradict the Efficient Market Hypothesis (EMH), since it assumes that markets are always rational and efficient. Behavioural finance suggests that investors are influenced by both cognitive and emotional biases, which might affect their investment decisions. Emotional biases seem to be more difficult to correct, since these are personality traits which are instilled in each and every individual. However, there are certain safety measures which investors can implement to reduce the impact on their investment decisions. This dissertation will go through both cognitive and emotional biases, and determine their impact on Maltese investors.
Description: B.COM.(HONS)BANK.&FIN.
URI: https://www.um.edu.mt/library/oar/handle/123456789/82502
Appears in Collections:Dissertations - FacEma - 2019
Dissertations - FacEMABF - 2019

Files in This Item:
File Description SizeFormat 
19BBNK015.pdf
  Restricted Access
1.44 MBAdobe PDFView/Open Request a copy


Items in OAR@UM are protected by copyright, with all rights reserved, unless otherwise indicated.