Overconfidence and Herding Behavior Drive Investment Decisions in Nigerian Market.
This study looked at how psychological factors influence investment decisions in the Nigerian Stock Exchange. The researchers used a questionnaire to gather data from 75 investors and analyzed it using multiple regression analysis. They found that overconfidence, availability bias, and herding behavior have a positive impact on investment decisions, while conservatism has a negative impact. This suggests that these behavioral factors play a significant role in how investors make decisions in the Nigerian capital market.