Object

Title: Technical analysis gives you courage, but not money-von the relationship between technical analisys usage, overconfidence and investment performance

Creator:

Kubińska, Elżbieta ; Czupryna, Marcin ; Markiewicz, Łukasz ; Czekaj, Jan

Description:

Argumenta Oeconomica, 2018, Nr 1 (40), s. 317-344

Abstrakt:

This paper investigates the psychological background of the use of technical analysis in the financial markets. Such a background may give additional explanations to the popularity and common usage of technical analysis as an investment decision tool. This popularity is puzzling due to the missing theoretical and scientific background of technical analysis and the contradictory empirical evidence on its effectiveness. We postulate that overconfidence (regardless of its manifestation: calibration, better than average, and illusion of control) reinforces technical analysis usage. This hypothesis is tested in the present study conducted with professionals (traders in a proprietary trading company) and novices (finance students). The hypothesis received partial empirical support. Overconfidence – in particular the illusion of control – explains technical analysis usage in both investigated groups

Publisher:

Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu

Place of publication:

Wrocław

Date:

2018

Resource Type:

artykuł

Resource Identifier:

doi:10.15611/aoe.2018.1.14 ; oai:dbc.wroc.pl:41157

Language:

eng

Relation:

Argumenta Oeconomica, 2018, Nr 1 (40)

Rights:

Wszystkie prawa zastrzeżone (Copyright)

Access Rights:

Dla wszystkich w zakresie dozwolonego użytku

Location:

Uniwersytet Ekonomiczny we Wrocławiu

Group publication title:

Argumenta Oeconomica

Format:

application/pdf

Object collections:

Last modified:

Nov 14, 2019

In our library since:

May 17, 2018

Number of object content hits:

100

Number of object content views in PDF format

90

All available object's versions:

https://dbc.wroc.pl/publication/48874

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