Betydelsen av risk i svenska aktiesparares portföljer. En analys av riskperception, riskbenägenhet och överdriven självsäkerhet.
(2020) PSYK11 20192Department of Psychology
- Abstract (Swedish)
- Antalet aktiesparare ökar varje år. Psykologin på finansmarknaden är komplicerad och beskrivs idag som en orsak till marknadens irrationella avvikelser. Det är därför viktigt att öka förståelsen för psykologins magnitud och dess koppling till variationen bland privata aktiesparares framgång. Den aktuella studien syftade till att undersöka relevanta psykologiska aspekter inom finansiellt risktagande genom att identifiera skillnader mellan individers förhållande till risk och undersöka dem mot deras portföljutveckling. Vidare avsåg studien att undersöka om riskperception avseende investeringsbeslut förändras med åldern. 86 aktiesparare deltog i en enkätundersökning där de bland annat fick möjlighet att ta egna investeringsbeslut i fiktiva... (More)
- Antalet aktiesparare ökar varje år. Psykologin på finansmarknaden är komplicerad och beskrivs idag som en orsak till marknadens irrationella avvikelser. Det är därför viktigt att öka förståelsen för psykologins magnitud och dess koppling till variationen bland privata aktiesparares framgång. Den aktuella studien syftade till att undersöka relevanta psykologiska aspekter inom finansiellt risktagande genom att identifiera skillnader mellan individers förhållande till risk och undersöka dem mot deras portföljutveckling. Vidare avsåg studien att undersöka om riskperception avseende investeringsbeslut förändras med åldern. 86 aktiesparare deltog i en enkätundersökning där de bland annat fick möjlighet att ta egna investeringsbeslut i fiktiva aktiescenarier, besvara självskattningsfrågor genom Risk Propensity Scale samt besvara frågor som berörde individens beslutssäkerhet. Framgångsrikt aktiesparande definierades genom deltagarnas Absoluta avkastning och deltagarnas riskperception mättes genom deras beslutsfattande i de fiktiva scenarierna. Resultatet gav inte stöd åt studiens frågeställningar. Däremot pekade resultatet på signifikanta skillnader i riskperception mellan deltagarnas ålder. En regressionsanalys visade att överdriven självsäkerhet och ålder var relaterade till en variation i, samt predicerade utkomsten, av deltagarnas aktieportföljer. Studiens fynd poängterar psykologins betydelse för variationen bland svenska aktiesparares portföljer. (Less)
- Abstract
- The number of stock savers increases every year. Psychology in the financial market is complicated and is nowadays described as a cause of the market's irrational deviations. It is therefore important to increase the understanding of the magnitude of psychology and its connection to the variation among private equity savers. The current study aimed to investigate the relevant psychological aspects of financial risk taking by identifying differences between individuals' relationship to risk and examining them against their portfolio development. Furthermore, the study aimed to investigate whether risk perception regarding investment decisions changes with age. 86 stock savers participated in a survey where they were given the opportunity,... (More)
- The number of stock savers increases every year. Psychology in the financial market is complicated and is nowadays described as a cause of the market's irrational deviations. It is therefore important to increase the understanding of the magnitude of psychology and its connection to the variation among private equity savers. The current study aimed to investigate the relevant psychological aspects of financial risk taking by identifying differences between individuals' relationship to risk and examining them against their portfolio development. Furthermore, the study aimed to investigate whether risk perception regarding investment decisions changes with age. 86 stock savers participated in a survey where they were given the opportunity, among other things, to make their own investment decisions in fictitious stock scenarios, answer self-assessment questions through the Risk Propensity Scale, and answer questions related to the individual's decision security. Successful share savings were defined by the participants 'Absolute return and the participants' risk perception was measured by their decision making in the fictitious scenarios. The results did not support the study's questions. however, the results pointed to significant differences in risk perception between participants' age. A regression analysis showed that overconfidence and age were related to a variation in, and predicted the outcome of, participants' equity portfolios. The study's findings highlight the importance of psychology for the variation among Swedish equity savers' portfolios. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9003092
- author
- Myrenfors, Erik LU and Sorte, Alexander LU
- supervisor
-
- Ilkka Salo LU
- organization
- alternative title
- The importance of risk in Swedish equity savers' portfolios. An analysis of risk perception, risk propensity and overconfidence.
- course
- PSYK11 20192
- year
- 2020
- type
- M2 - Bachelor Degree
- subject
- keywords
- riskperception, överdriven självsäkerhet, risk propensity scale, beteendekonomi, aktiehandel, beslutsfattande
- language
- Swedish
- id
- 9003092
- date added to LUP
- 2020-01-27 13:46:52
- date last changed
- 2020-01-27 13:46:52
@misc{9003092, abstract = {{The number of stock savers increases every year. Psychology in the financial market is complicated and is nowadays described as a cause of the market's irrational deviations. It is therefore important to increase the understanding of the magnitude of psychology and its connection to the variation among private equity savers. The current study aimed to investigate the relevant psychological aspects of financial risk taking by identifying differences between individuals' relationship to risk and examining them against their portfolio development. Furthermore, the study aimed to investigate whether risk perception regarding investment decisions changes with age. 86 stock savers participated in a survey where they were given the opportunity, among other things, to make their own investment decisions in fictitious stock scenarios, answer self-assessment questions through the Risk Propensity Scale, and answer questions related to the individual's decision security. Successful share savings were defined by the participants 'Absolute return and the participants' risk perception was measured by their decision making in the fictitious scenarios. The results did not support the study's questions. however, the results pointed to significant differences in risk perception between participants' age. A regression analysis showed that overconfidence and age were related to a variation in, and predicted the outcome of, participants' equity portfolios. The study's findings highlight the importance of psychology for the variation among Swedish equity savers' portfolios.}}, author = {{Myrenfors, Erik and Sorte, Alexander}}, language = {{swe}}, note = {{Student Paper}}, title = {{Betydelsen av risk i svenska aktiesparares portföljer. En analys av riskperception, riskbenägenhet och överdriven självsäkerhet.}}, year = {{2020}}, }