The study looked at how investors' confidence affects trading volume in the Tunisian market. By analyzing data from 35 Tunisian companies, researchers found that past market returns have a strong influence on current market turnover, supporting the idea of overconfidence and the disposition effect. Some companies showed a correlation between past market returns and current securities turnover, indicating overconfidence, while others exhibited a disposition effect with individual securities. Overall, the findings suggest that trading activity in the market is influenced by both overconfidence and the disposition effect, rather than just one factor.