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- Title
WYBRANE ASPEKTY DECYZJI INWESTYCYJNYCH INWESTORÓW INDYWIDUALNYCH NA RYNKU KAPITAŁOWYM W ŚWIETLE ELEMENTÓW TEORII FINANSÓW BEHAWIORALNYCH.
- Authors
Nowak, Krzysztof
- Abstract
The article discusses the issue of behavioural aspects of individual investors' decisions on the capital market. Based on the analysis of the findings of the 2011 and 2018 Whole-Poland Survey of Investors, the author fulfils the research aims formulated earlier: (1) to present changes in individual investors' investment preferences on the Stock Exchange in Warsaw in 2011 and 2018; (2) to conduct an analysis of the survey of individual investors in the context of selected cognitive distortions indicated by the theory of behavioural finance; (3) to determine main regularities concerning individual investors' preferences on the Polish capital market with regard to risk, investment period and trust in their own investment skills. It made it possible to formulate the following conclusions: 1. Most individual investors take investment decisions based on their own analysis or their own intuition. 2. The application of the strategy of average purchase price of a financial instrument can depend on whether it concerns the loss or profit related situation. 3. The size of private investors' capital can determine both the investment horizon and the level of loss accepted.
- Publication
Economic & Political Thought / Myśl Ekonomiczna & Polityczna, 2019, Vol 67, Issue 4, p17
- ISSN
2081-5913
- Publication type
Article
- DOI
10.26399/meip.4(67).2019.37/k.nowak