Factors Influencing the Investor's Decision Making: The Moderating Role of Locus of Control |
KAMRAN, Hafiz Waqas
(Faculty of Business Administration, Iqra University)
QAISAR, Abthal (Lyallpur Business School, Government College University) SULTANA, Nayyer (Department of Public Administration, Government College Women University) NAWAZ, Muhammad Atif (Department of Economics, The Islamia University of Bahawalpur) AHMAD, Hafiz Tanveer (Lyallpur Business School, Government College University) |
1 | Shimizu, K. (2007). Prospect theory, behavioral theory, and the threat-rigidity thesis: Combinative effects on organizational decisions to divest formerly acquired units. Academy of Management Journal, 50(6), 1495-1514. https://doi.org/10.5465/amj.2007.28226158 DOI |
2 | Slugoski, B. R., Shields, H. A., & Dawson, K. A. (1993). Relation of conditional reasoning to heuristic processing. Personality and Social Psychology Bulletin, 19(2), 158-166. https://doi.org/10.1177%2F0146167293192004 DOI |
3 | Spector, P. E., Cooper, C. L., Sanchez, J. I., O'Driscoll, M., Sparks, K., Bernin, P. others. (2002). Locus of control and well-being at work: How generalizable are western findings? Academy of Management Journal, 45(2), 453-466. https://doi.org/10.5465/3069359 DOI |
4 | Teo, T. S., Srivastava, S. C., & Jiang, L. (2008). Trust and electronic government success: An empirical study. Journal of Management Information Systems, 25(3), 99-132. https://doi.org/10.2753/mis0742-1222250303 DOI |
5 | Tong, K. H., Nguyen, Q. L. H. T. T., Nguyen, T. T. M., Nguyen, P. T., & Vu, N. B. (2020). Applying the Fuzzy Decision-Making Method for Program Evaluation and Management Policy of Vietnamese Higher Education. Journal of Asian Finance, Economics, and Business, 7(9), 719-726. https://doi.org/10.13106/jafeb.2020.vol7.no9.719 DOI |
6 | Wang, C., Rodan, S., Fruin, M., & Xu, X. (2014). Knowledge networks, collaboration networks, and exploratory innovation. Academy of Management Journal, 57(2), 484-514. https://doi.org/10.5465/amj.2011.0917 DOI |
7 | Waweru, N. M., Munyoki, E., & Uliana, E. (2008). The effects of behavioural factors in investment decision-making: a survey of institutional investors operating at the Nairobi Stock Exchange. International Journal of Business and Emerging Markets, 1(1), 24-41. https://doi.org/10.1504/IJBEM.2008.019243 DOI |
8 | Zaidi, F. B., & Tauni, M. Z. (2012). Influence of Investor's Personality Traits and Demographics on Overconfidence Bias. Institute of Interdisciplinary Business Research, 4(6), 730-746. https://journal-archieves24.webs.com/730-746.pdf |
9 | Arrfelt, M., Wiseman, R. M., & Hult, G. T. M. (2013). Looking backward instead of forward: Aspiration-driven influences on the efficiency of the capital allocation process. Academy of Management Journal, 56(4), 1081-1103. https://doi.org/10.5465/amj.2010.0879 DOI |
10 | Allen, W. D., & Evans, D. A. (2005). Bidding and overconfidence in experimental financial markets. The Journal of Behavioral Finance, 6(3), 108-120. https://doi.org/10.1207/s15427579jpfm0603_1 DOI |
11 | Baker, H. K., & Nofsinger, J. R. (2002). Psychological biases of investors. Financial Services Review, 11(2), 97-116. https://search.proquest.com/openview/a06bf8da7ca/1?pqorigsite=gscholar&cbl=31458 |
12 | Bashir, T., Azam, N., Butt, A. A., Javed, A., & Tanvir, A. (2013). Are Behavioral Biases Influenced By Demographic Characteristics & Personality Traits? Evidence from Pakistan. European Scientific Journal, 9(29), 277-293. http://eujournal.org/index.php/esj |
13 | Boone, C., & Van Witteloostuijn, A. (2005). Team locus-of-control composition, leadership structure, information acquisition, and financial performance: A business simulation study. Academy of Management Journal, 48(5), 889-909. https://doi.org/10.5465/amj.2005.18803929 DOI |
14 | Bowers, A. H., Greve, H. R., Mitsuhashi, H., & Baum, J. A. (2014). Competitive parity, status disparity, and mutual forbearance: Securities analysts' competition for investor attention. Academy of Management Journal, 57(1), 38-62. https://doi.org/10.5465/amj.2011.0818 DOI |
15 | Brauer, M. F., & Wiersema, M. F. (2012). Industry divestiture waves: How a firm's position influences investor returns. Academy of Management Journal, 55(6), 1472-1492. https://doi.org/10.5465/amj.2010.1099 DOI |
16 | Bryman, A., & Bell, E. (2015). Business research methods. New York, NY: Oxford University Press. |
17 | Folkes, V. S. (1988). Recent attribution research in consumer behavior: A review and new directions. Journal of Consumer Research, 14(4), 548-565. https://doi.org/10.1086/209135 DOI |
18 | Coleman, M., & DeLeire, T. C. (2000). An Econometric Model of Locus of Control and the Human Capital Investment Decision. The Journal of Human Resources, 38(3), 701-721. https://doi.org/10.3368/jhr.XXXVIII.3.701 DOI |
19 | Filatotchev, I., Poulsen, A., & Bell, R. G. (2019). Corporate governance of a multinational enterprise: Firm, industry and institutional perspectives. Journal of Corporate Finance, 57(8), 1-8. https://doi.org/10.1016/j.jcorpfin.2018.02.004 DOI |
20 | Filbeck, G., Hatfield, P., & Horvath, P. (2005). Risk aversion and personality type. The Journal of Behavioral Finance, 6(4), 170-180. https://doi.org/10.1207/s15427579jpfm0604_1 DOI |
21 | Furnham, A. (1986). Economic locus of control. Human Relations, 39(1), 29-43. https://doi.org/10.1177%2F001872678603900102 DOI |
22 | Garcia-Sanchez, I. M., & Garcia-Meca, E. (2018). Do talented managers invest more efficiently? The moderating role of corporate governance mechanisms. Corporate Governance: An International Review, 26(4), 238-254. https://doi.org/10.1111/corg.12233 DOI |
23 | Gervais, S., & Odean, T. (2001). Learning to be overconfident. Review of Financial Studies, 14(1), 1-27. https://doi.org/10.1093/rfs/14.1.1 DOI |
24 | Hair, J. F., Ringle, C. M., & Sarstedt, M. (2011). PLS-SEM: Indeed a silver bullet. Journal of Marketing Theory and Practice, 19(2), 139-152. https://doi.org/10.2753/mtp1069-6679190202 DOI |
25 | Kudryavtsev, A., Cohen, G., & Hon-Snir, S. (2013). "Rational"or'Intuitive': Are Behavioral Biases Correlated Across Stock Market Investors? Contemporary Economics, 7(2), 31-53. https://ssrn.com/abstract=2286065 DOI |
26 | Healy, P. M., & Palepu, K. G. (2001). Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature. Journal of Accounting and Economics, 31(1), 405-440. https://doi.org/10.1016/S0165-4101(01)00018-0 DOI |
27 | Hiller, N. J., & Hambrick, D. C. (2005). Conceptualizing executive hubris: The role of (hyper-) core self-evaluations in strategic decision-making. Strategic Management Journal, 26(4), 297- 319. https://doi.org/10.1002/smj.455 DOI |
28 | Hilton, D. J. (2001). The psychology of financial decision-making: Applications to trading, dealing, and investment analysis. The Journal of Psychology and Financial Markets, 2(1), 37-53. https://doi.org/10.1207/S15327760JPFM0201_4 DOI |
29 | Lam, S. S., & Schaubroeck, J. (2000). The role of locus of control in reactions to being promoted and to being passed over: A quasi experiment. Academy of Management Journal, 43(1), 66-78. https://doi.org/10.5465/1556386 DOI |
30 | Lin, C. P., & Ding, C. G. (2003). Modeling information ethics: The joint moderating role of locus of control and job insecurity. Journal of Business Ethics, 48(4), 335-346. https://doi.org/10.1023/B:BUSI.0000005745.63324.79 DOI |
31 | MacLeod, C. M., & Daniels, K. A. (2000). Direct versus indirect tests of memory: Directed forgetting meets the generation effect. Psychonomic Bulletin & Review, 7(2), 354-359. https://doi.org/10.3758/BF03212993 DOI |
32 | Pfarrer, M. D., Pollock, T. G., & Rindova, V. P. (2010). A tale of two assets: The effects of firm reputation and celebrity on earnings surprises and investors' reactions. Academy of Management Journal, 53(5), 1131-1152. https://doi.org/10.5465/amj.2010.54533222 DOI |
33 | Nguyen, D. D., & Nguyen, C. V. (2020). The Impact of Operating Cash Flow in Decision-Making of Individual Investors in Vietnam's Stock Market. Journal of Asian Finance, Economics, and Business, 7(5), 19-29. https://doi.org/10.13106/jafeb.2020.vol7.no5.019 DOI |
34 | Nguyen, T. V. N., Quang, T., & Dinh, C. H. (2020). Factors Affecting Employees' Organizational Commitment in Foreign Direct Investment Enterprises. Journal of Asian Finance, Economics and Business, 7(10), 413-421. https://doi.org//jafeb.2020.vol7.no10.413 DOI |
35 | Ozbek, V., Alniacik, U., Akkilic, M. E., & Koc, F. (2013). The Moderating Role of Locus of Control on the Links between Perceived Ethical Problem and Ethical Intentions of Marketing Managers in Turkey. Procedia-Social and Behavioral Sciences, 99(11), 265-273. https://doi.org/10.1016/j.sbspro.2013.10.494 DOI |
36 | Prechter Jr, R. R. (2001). Unconscious herding behavior as the psychological basis of financial market trends and patterns. The Journal of Psychology and Financial Markets, 2(3), 120-125. https://doi.org/10.1207/S15327760JPFM0203_1 DOI |
37 | Scott, S. G., & Bruce, R. A. (1995). Decision-making style: The development and assessment of a new measure. Educational and Psychological Measurement, 55(5), 818-831. https://doi.org/10.1177%2F0013164495055005017 DOI |
38 | Selart, M. (2005). Understanding the role of locus of control in consultative decision-making: A case study. Management Decision, 43(3), 397-412. https://doi.org/10.1108/00251740510589779 DOI |
![]() |