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Kewangan tingkah laku

Bidang psikologi perdagangan ialah satu bidang yang sangat menarik jika anda mempertimbangkan kesan faktor mental dan emosi terhadap hasil dagangan.

There are so many facets of a person’s behaviour that play a role in influencing financial decision making.

Combine this with the stress that the market volatilities and aggressive price fluctuations evoke, it’s no surprise that the study of feelings and how they drive traders to act certain ways has become so popular.

Interwoven within this mesh of psychological concepts is behavioural finance. Referred to as a subset of behavioural economics, behavioural finance suggests that investor behaviours are influenced by psychological elements and biases.

It further proposes that variances within financial markets may be attributed to these factors, for e.g., aggressive price movements of particular asset like stocks.

In fact, growing recognition of this research has prompted renowned institutions like the Securities and Exchange Commission to assign staff to further explore the field of behavioural finance, and its impact on financial transactions.

Pengaruh bias

One of the core components of behavioural finance has to do with the influence of biases. More specifically, the notion is that biases can be categorised into one of 5 core concepts influencing the market and/or trading outcomes. Antaranya ialah:

Tingkah laku kumpulan

Herd behaviour refers to those instances when investors or other financial practitioners copy the financial behaviours of a larger majority (i.e., the herd). This behaviour is frequently witnessed in the stock market and often the reason for selloffs or rallies.

Jurang emosi

Emotional gap pertains to decision making driven by intense emotions or emotional stress. This behaviour is often the reason why people make illogical decisions.

Atribusi diri

Self-attribution involves making decisions with an overconfident reliance on one’s own knowledge or skill. This tends to arise from one’s existing proficiency in a specific domain. In this instance, an investor may deem their knowledge more favourably than others, even if this isn’t objectively true.

Perakaunan mental

Konsep ini dibangunkan oleh pemenang hadiah Nobel dan ahli ekonomi Richard Thaler. Perakaunan mental merujuk kepada nilai berbeza yang diberikan oleh individu kepada jumlah wang yang sama. Nilai biasanya berdasarkan kriteria subjektif dan selalunya boleh menyebabkan keputusan pelaburan atau perdagangan yang tidak rasional.

Anchoring

Anchoring dalam kewangan tingkah laku berlaku apabila anda secara tidak sedar menggunakan maklumat yang tidak relevan, seperti harga awal sekuriti, sebagai titik rujukan tetap untuk kemudiannya membuat keputusan tentang sekuriti itu.

Penyelidikan dan analisis dalam skop kewangan tingkah laku juga telah menemui kecenderungan individu lain dan kebiasaan peribadi yang ditunjukkan oleh pelabur. Hal ini termasuk:

Bias pengesahan:

occurs when investors favour information that aligns with their existing beliefs, even if flawed.

Bias pengalaman atau baru lepas:

berlaku daripada peristiwa terkini yang membentuk persepsi pelabur terhadap kejadian pada masa hadapan.

Elak rugi:

kecenderungan untuk mengutamakan tindakan mengelak kerugian berbanding mencapai keuntungan yang menyebabkan tingkah laku mengelak risiko.

Bias kebiasaan:

manifests when investors favour familiar investments, potentially limiting diversification. This often leads to a preference for domestic or locally known investments, neglecting broader market exposure.

Setiap bias mencerminkan kecenderungan kognitif yang mempengaruhi pembuatan keputusan dalam bidang kewangan, memberi kesan kepada cara pelabur menilai dan bertindak balas terhadap maklumat, peristiwa dan risiko yang berpotensi.

Alat

EDUCATION