Behavioral Finance is an evolving field that studies how psychological factors affect decision making under uncertainty. Herding behavior is one of the psychological factors that instigate investor to mimic the actions of other investors in the market rather than using his personal assessments. This study seeks to find the influence of certain attitudinal factors namely, decision conformity, hasty decision, mood, decision accuracy, and overconfidence, on the individual investor tendency to embrace herd behavior. Primary data for the study are collected using structured questionnaires from a sample of 194 investors who are trading at Islamabad and Lahore branches of Pakistan Stock Exchange. Multiple linear regression analysis is used to test the hypotheses of this study. Findings of this study provide evidence that attitudinal factors have a significant influence on investor’s tendency to take on herd behavior. It is concluded from the results of multiple linear regression that decision conformity, mood, and decision accuracy have a significant impact on individual investor tendency to adopt herd behavior. However, investor hasty decision and overconfidence is insignificant predictors of herd behavior.
Keywords: Decision conformity, Hasty decision, Mood, Decision accuracy, Overconfidence, Herd
behavior
Purpose – this study aims to determine the influence of E-government on productivity in the case of different countries comparing by income level.
Research methodology – static (fixed and random) and dynamic (GMM) panel regression.
Findings – a disaggregated analysis reveals that middle-income countries are driving global productivity growth by implementing ICTs infrastructure in the public sector.
Research limitations – this study focuses on severe developed and developing economies, whereas each country may not benefit from E-government implementation as gains might be offset with the enormous costs of implementation.
Practical implications – the government may rely more on online services in the provision of its responsibilities because it enhances the efficiency of public sectors.
Originality/Value – the study is a novel measure of E-government that covers additional multiple dimensions.
Over the past fifty years, much work has been done trying to understand the relationship between volume and price changes of individual stocks. In this article, we attempt to introduce and discuss some of these articles and take inference for relationship of traded volume and aggregate stock exchange index performance. This article presents an empirical analysis of the relationship between trading volume and performance of stock exchange index on a given day in the Pakistani market. Just like individual stocks, the relationship between changes in KSE 100 index and trading volume, irrespective of the direction of the index change, is significantly positive across all three alternative measures of daily trading volume (the daily number of shares traded; the daily total monetary value of shares traded; the daily number of equity trades).
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.