scholarly journals Portfolio selection strategies and cognitive psychology biases: a behavioral evidence from the Nigerian equity market

2018 ◽  
Vol 15 (3) ◽  
pp. 267-282 ◽  
Author(s):  
Mukail Aremu Akinde ◽  
Eriki Peter ◽  
Ochei Ailemen Ikpefan
Keyword(s):  
Cognitive Psychology ◽  
Portfolio Selection ◽  
Multinomial Logistic Regression ◽  
The United States ◽  
Equity Market ◽  
Primary Data ◽  
Individual Investors ◽  
Value Stocks ◽  
Selection Strategies ◽  
Growth Stocks

The empirical evidence in the developed equity markets such as the United States, the United Kingdom, Germany, Japan and emerging markets had pronounced that there are institutional and individual investors’ cognitive psychology and mental biases in favor of the Growth Stocks, that is, the Growth Stocks are always preferred to the Value Stocks by the investors. The investors most times prefer the Growth Stocks to the Value Stocks irrespective of the stock fundamentals behavior in the equity market. The paper investigated whether Cognitive Psychology and Mental biases affect Portfolio Selection strategies using the Growth or the Value Stocks investment styles in the Nigerian Stock Market. In the study, the summary of the primary data was described and Multinomial Logistic Regression (MLR) models were adopted to make inferential decisions. The paper collected primary data through questionnaire administered to individual and institutional investors on the floor of Nigeria Stock Exchange (NSE). The findings from the analyses conducted confirmed a strong existence of Cognitive Psychology and mental biases in favor of the Growth Stocks in the Nigerian Equity Market. Investors had more belief in Growth Stocks than the Value Stocks notwithstanding the behavior of the market fundamentals. The study recommended that investors should seriously consider occurrences and performance fundamentals in Portfolio Selection in the Nigerian Equity Market.

scholarly journals The value and accounting premium for South African-listed shares

2008 ◽  
Vol 2 (2) ◽  
pp. 187-202
Author(s):  
Jürgen Ernstberger ◽  
Christian Heinze ◽  
Oliver Vogler
Keyword(s):  
South African ◽  
Financial Reporting ◽  
The United States ◽  
High Ratio ◽  
Value Premium ◽  
Accounting Standard ◽  
Value Stocks ◽  
Financial Reporting Standards ◽  
The Us ◽  
Growth Stocks

In the last decade, empirical research has found strong evidence that value stocks provide higher returns than growth stocks (value premium). Firms with a high ratio of book value of equity to market value of equity are regarded as value stocks; a low ratio identifies growth stocks. Most research is tailored to the market in the United States of America. Only a few studies consider country-specific distinctions. This research analyses the value premium for the South African market and compares its magnitude to the findings for the US market. Moreover, the effects of the introduction of International Financial Reporting Standards (IFRS) for companies listed at the JSE Limited are examined. The adoption of IFRS is used to demonstrate that investors award an accounting premium for voluntary compliance with this new accounting standard.

scholarly journals Patterns and correlates of mis-implementation in state chronic disease public health practice in the United States

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Margaret M. Padek ◽  
Stephanie Mazzucca ◽  
Peg Allen ◽  
Emily Rodriguez Weno ◽  
Edward Tsai ◽  
...  
Keyword(s):  
Public Health ◽  
United States ◽  
Decision Making ◽  
Chronic Disease ◽  
Multinomial Logistic Regression ◽  
Public Health Practice ◽  
State Level ◽  
The United States ◽  
Organizational Level ◽  
Effective Programs

Abstract Background Much of the disease burden in the United States is preventable through application of existing knowledge. State-level public health practitioners are in ideal positions to affect programs and policies related to chronic disease, but the extent to which mis-implementation occurring with these programs is largely unknown. Mis-implementation refers to ending effective programs and policies prematurely or continuing ineffective ones. Methods A 2018 comprehensive survey assessing the extent of mis-implementation and multi-level influences on mis-implementation was reported by state health departments (SHDs). Questions were developed from previous literature. Surveys were emailed to randomly selected SHD employees across the Unites States. Spearman’s correlation and multinomial logistic regression were used to assess factors in mis-implementation. Results Half (50.7%) of respondents were chronic disease program managers or unit directors. Forty nine percent reported that programs their SHD oversees sometimes, often or always continued ineffective programs. Over 50% also reported that their SHD sometimes or often ended effective programs. The data suggest the strongest correlates and predictors of mis-implementation were at the organizational level. For example, the number of organizational layers impeded decision-making was significant for both continuing ineffective programs (OR=4.70; 95% CI=2.20, 10.04) and ending effective programs (OR=3.23; 95% CI=1.61, 7.40). Conclusion The data suggest that changing certain agency practices may help in minimizing the occurrence of mis-implementation. Further research should focus on adding context to these issues and helping agencies engage in appropriate decision-making. Greater attention to mis-implementation should lead to greater use of effective interventions and more efficient expenditure of resources, ultimately to improve health outcomes.

scholarly journals Beyond Religiosity: A Model to Explain Spirituality Among Middle-Aged and Older Adults

2020 ◽  
Vol 4 (Supplement_1) ◽  
pp. 413-414
Author(s):  
Carlyn Vogel ◽  
Debra Dobbs ◽  
Brent Small
Keyword(s):  
United States ◽  
Older Adults ◽  
Good Life ◽  
Multinomial Logistic Regression ◽  
College Experience ◽  
The United States ◽  
Strong Connection ◽  
Deep Appreciation ◽  
The World ◽  
High Level

Abstract Spirituality is difficult to define as researchers assign it different meanings and individuals’ perceptions can vary. For example, spirituality may connect to religiosity, while others consider religiosity a less significant part of spirituality. This study investigates factors outside of religiosity that are significantly associated with spirituality to inform the characteristics of the concept. Webster’s (2004) existential framework of spirituality was used to guide variable selection. The National Survey of Midlife in the United States wave three (MIDUS 3; 2013-2014; n = 2,594; Mage = 63.5, SD = 11, range = 39–92) was used to examine individuals’ reported levels of spirituality. Multinomial logistic regression was conducted to examine factors related to low and high levels of spirituality compared to a moderate level. Participants with low spirituality were more likely to be male, less likely to be mindful, mediate/chant, feel a strong connection to all life, to indicate that they cannot make sense of the world, and to be religious. Participants with high spirituality were more likely to be female, have at least some college experience, be mindful, meditate/chant, feel deep inner peace, have a sense of deep appreciation, think that a sense of purpose is important for a good life, and have a high level of religiosity. Framed by Webster’s conceptual model, the current study observed that religiosity is significantly associated with spirituality and that other mindfulness-based aspects are also present within this concept. Incorporating mindfulness with religious efforts will more accurately and holistically address spirituality.

scholarly journals Exploring Attitudes About the Legality of Self-Managed Abortion in the US: Results from a Nationally Representative Survey

2021 ◽  
Author(s):  
Sarah Raifman ◽  
M. Antonia Biggs ◽  
Lauren Ralph ◽  
Katherine Ehrenreich ◽  
Daniel Grossman
Keyword(s):  
Multinomial Logistic Regression ◽  
Public Attitudes ◽  
The United States ◽  
Public Affairs ◽  
Policy Implications ◽  
Reproductive Age ◽  
Factors Associated ◽  
The Us ◽  
The Law ◽  
Nationally Representative

Abstract Introduction Twenty-four states have at least one law in place that could be used to prosecute people for self-managed abortion (SMA), or the termination of a pregnancy outside of the formal healthcare system. We investigated factors associated with public attitudes about SMA legality and legal access to abortion more generally. Methods In August 2017, we surveyed a nationally representative sample of English- and Spanish-speaking women ages 18–49 years in the United States (US) using Ipsos Public Affairs’ KnowledgePanel. Unadjusted and adjusted multinomial logistic regression estimates identify characteristics associated with believing that SMA should not be against the law, compared to should be against the law, with weighting to account for sampling into the panel. Results Overall, 76% (95% CI: 74.3%-77.1%) and 59% (95% CI: 57.3%-60.4%) of participants (n = 7,022, completion rate 50%) reported that abortion and SMA, respectively, should not be against the law; 1% and 19% were unsure. Among those living in a state with at least one law that could be used to prosecute an individual for SMA, the majority (55%, 95% CI: 52.7%-57.9%) believed SMA should not be against the law. Factors associated with believing SMA should not be against the law, compared to should be against the law, included prior abortion experience and higher levels of education and income. Conclusion Most reproductive age women in the US believe that SMA should not be criminalized. There is more uncertainty about SMA legality than about the legality of abortion more generally. Policy Implications US laws that criminalize SMA are not supported by the majority of the people living in their jurisdictions.

scholarly journals Prepregnancy Depression and Breastfeeding Duration: A Look at Maternal Age

2018 ◽  
Vol 2018 ◽  
pp. 1-7 ◽  
Author(s):  
Jordyn T. Wallenborn ◽  
Anny-Claude Joseph ◽  
Whitney C. Graves ◽  
Saba W. Masho
Keyword(s):  
Mental Health ◽  
Maternal Age ◽  
Multinomial Logistic Regression ◽  
Age Groups ◽  
The United States ◽  
Poor Mental Health ◽  
Breastfeeding Duration ◽  
Pregnancy Risk ◽  
Care Models ◽  
History Of

Background. In the United States, major depressive disorder affects one in five women aged 20-40 years. During these childbearing years, depression can negatively impact maternal behaviors that are crucial for infant growth and development. This study examined the relationship between prepregnancy depression and breastfeeding duration by maternal age. Methods. Data from Phase 7 (2012-2013) of the Pregnancy Risk Assessment Monitoring System (N=62,483) were analyzed. Prepregnancy depression was dichotomized while breastfeeding duration was categorized as never breastfed, breastfed 8 weeks or less, and breastfed more than 8 weeks. Maternal age was a significant effect modifier; therefore, results were stratified by maternal age. Multinomial logistic regression was used to obtain odds ratios and 95% confidence intervals (CI). Results. For women aged 20-24, 25-29, and 30-34 years with prepregnancy depression, the odds of never breastfeeding and breastfeeding 8 weeks or less were significantly higher than in women with no history of prepregnancy depression. Notably, among women aged 25-29 with prepregnancy depression, the odds of never breastfeeding and breastfeeding 8 weeks or less were 93% (adjusted odds ratio (AOR) = 1.93, 95% CI =1.57-2.37) and 65% (AOR = 1.65, 95% CI = 1.37-1.99) higher compared to women with no history of prepregnancy depression, respectively. Conclusions. Having a history of poor mental health before pregnancy may increase the likelihood of premature breastfeeding cessation. A woman’s mental health status before pregnancy should be considered in reproductive and prenatal care models. Efforts should be made to understand challenges women of specific age groups face when trying to breastfeed.

scholarly journals Effectiveness of Micro-Credit Programs in Socio-Economic Development: A Study on Selected NGOs in Bangladesh

2020 ◽  
pp. 49-61
Author(s):  
Touhidul Islam ◽  
Dr. Razu Ahmed ◽  
Kohinur Aktar
Keyword(s):  
Economic Development ◽  
Positive Impact ◽  
Multinomial Logistic Regression ◽  
Occupational Status ◽  
Primary Data ◽  
Chi Square ◽  
Non Governmental Organizations ◽  
Socio Economic Development ◽  
The Impact ◽  
Micro Credit

Non-governmental Organizations (NGOs) evolved in Bangladesh with the commitment of bringing positive social change and attaining balanced socio-economic development through the disbursement of micro-credit among the marginal people in society. The main intention of the study is to assess the impact of micro-credit on the overall socio-economic development of micro-credit receivers. The Chi-square (χ2) and Multinomial Logistic Regression techniques have applied on primary data collected from 260 beneficiaries of micro-credit of ASA and BRAC NGOs in the Mymensingh district of Bangladesh. The χ2 analysis shows that the amount of micro-credit taken has a significant positive impact on respondents’ type of home, sanitation facilities, ownership of other household assets, health service received, yearly income, expenditure, and savings, and participation in family’s decision making, whereas an insignificant relationship is observed for occupational status, children education, ownership of land and livestock, sources of drinking water, economic solvency, and social status of the respondents.

scholarly journals Irrational Behaviour and Stock Investment Decision. Does Gender Matter?

2021 ◽  
Vol 11 (2) ◽  
pp. 2185-2204
Author(s):  
M. Siraji ◽  
Na zar ◽  
M.S. Ishar Ali
Keyword(s):  
Risk Perception ◽  
Investment Decision ◽  
Primary Data ◽  
Disposition Effect ◽  
Individual Investors ◽  
Financial Advisors ◽  
Stock Investment ◽  
Irrational Behaviour ◽  
The Individual ◽  
The Right

The research aims to examine the influence of irrational behaviour on stock investment decision, specifically, anchoring, disposition effect, home bias, herding, overconfidence and the risk perception. The research further investigates the moderating role of gender between irrational behaviour and stock investment decision. Finally, it reveals which irrational behaviour is most prevalent. A survey collected the primary data from 425 individual investors. The survey evidence shows that, of six irrational behaviours, anchoring, disposition effect, overconfidence and risk perception were influence the investment decision of individual investors, and risk perception comes out to be the significant irrational behaviour on stock investment decision. It further explores that gender has a significant moderation for anchoring, disposition effect, herding, overconfidence, risk perception, and stock investment decision. We recommend that if individuals are aware of the behavioural biases, it will help them for making the right stock investment decisions. The study also relevant for financial advisors, stockbrokers and policymakers as it facilitates them in gaining a better understanding of their clients’ irrational behaviour. The present study gives a unique insight into the individual investors’ profile of gender corresponding to each main irrational behaviour on investment decision under consideration of stock investment.

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