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2015•International Journal of Innovative Research and DevelopmentRequires access

EFFECT OF AGE ON INVESTOR DECISIONS

Zipporah Onsomu

Open publisher page 4 citations

Abstract

This research paper seeks to identify the effect of age on investor decisions at the Nairobi Securities Exchange, Kenya. A total of 57 investors responded. Data collected for this study was analyzed using descriptive statistics and Pearson Chi-square test. The results indicated that investors of all ages considered (18-30 years, 31-40 years, 41-50 years, above 50) were affected by the behavioral biases (overconfidence bias, Representativeness bias, Confirmation bias and Disposition effect). A significant relationship between age and overconfidence bias was exhibited. However, the relationship between age and Representativeness bias, Confirmation bias and Disposition effect was found to be insignificant at 5% significance level.

About this research paper

What this paper is about

This research paper seeks to identify the effect of age on investor decisions at the Nairobi Securities Exchange, Kenya. A total of 57 investors responded. Data collected for this study was analyzed using descriptive statistics and Pearson Chi-square test. The results indicated that investors of all ages considered (18-30 years, 31-40 years, 41-50 years, above 50) were affected by the behavioral biases (overconfidence bias, Representativeness bias, Confirmation bias and Disposition effect). A significant relationship between age and overconfidence bias was exhibited. However, the relationship between age and Representativeness bias, Confirmation bias and Disposition effect was found to be insignificant at 5% significance level.

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OpenAlex reports 4 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available abstract

This research paper seeks to identify the effect of age on investor decisions at the Nairobi Securities Exchange, Kenya. A total of 57 investors responded. Data collected for this study was analyzed using descriptive statistics and Pearson Chi-square test. The results indicated that investors of all ages considered (18-30 years, 31-40 years, 41-50 years, above 50) were affected by the behavioral biases (overconfidence bias, Representativeness bias, Confirmation bias and Disposition effect). A significant relationship between age and overconfidence bias was exhibited. However, the relationship between age and Representativeness bias, Confirmation bias and Disposition effect was found to be insignificant at 5% significance level.

Key concepts: Overconfidence effect, Representativeness heuristic, Descriptive statistics, Psychology, Disposition effect, Disposition, Test (biology), Econometrics

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