Overconfidence, Trading frequency, and Portfolio Size in the Egyptian Stock Market

  • Wessam M. Abdel Aziz Damanhour University
  • Elsayeda A. Ismail Alexandria University
  • Mohamed S. El-Hennawi Alexandria University
DOI: https://doi.org/10.53555/bm.v2i6.1234
Keywords: Overconfidence, Trading frequency, Portfolio, Size, Egyptian, Stock, Market

Abstract

Using daily trading records data of 744 adult Egyptian Individual investors; acquired from Misr for Central Clearing, Depository and Registry (hereafter, M.C.D.R); we investigate whether the Egyptian individual investors exhibit overconfidence in their investment decisions. In addition, we delineate the effect of overconfidence on trading frequency and portfolio size. The results of our analysis reveal that: There is an over whelming evidence that the Egyptian Investors display overconfidence in their trade. However, investors exhibiting overconfidence don’t trade more frequently. In addition, overconfident investors tend to hold small size portfolios.

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Author Biographies

Wessam M. Abdel Aziz, Damanhour University

Assistant Lecturer

Faculty of commerce

Elsayeda A. Ismail, Alexandria University

Professor of Finance and Investment

Faculty of Commerce

Ph.D

Mohamed S. El-Hennawi, Alexandria University

Professor of Finance and Investment,

Faculty of Commerce

Published
2016-06-30
How to Cite
Aziz, W. M. A., Ismail, E. A., & El-Hennawi, M. S. (2016). Overconfidence, Trading frequency, and Portfolio Size in the Egyptian Stock Market. IJRDO - Journal of Business Management, 2(6), 21-37. https://doi.org/10.53555/bm.v2i6.1234
Issue
Vol. 2 No. 6 (2016): IJRDO - Journal of Business Management
Section
Articles

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