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How does Behavioural Finance affect Portfolio Management decisions?
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Orientador(es)
Resumo(s)
The main objective of this paper is to study how Behavioural Finance affects Portfolio Management decisions and performance by studying a real case - the Nova Students Portfolio (NSP) course. To do so, this paper explored the main topics in the Behavioural Finance theory as well as the most common behavioural biases and applied the theory to the NSP fund. There was found evidence in the NSP of 10 well known biases in literature as well as some of their consequences. Recommendations were then proposed in order to avoid them. Furthermore, the investor sentiment was studied but it was found no evidence of weekly predictive power of investor sentiment on the short-term asset prices.
Descrição
A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics
Palavras-chave
Behavioural finance Biases Decision-making Investor sentiment