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Better than average: An investigation of overconfidence in South Africa
Includes bibliographical references.
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| Main Author: | |
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| Other Authors: | |
| Format: | Thesis |
| Language: | English |
| Published: |
Department of Finance and Tax
2015
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| _version_ | 1867613301360295936 |
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| access_status_str | Open Access |
| author | Dowie, Glen |
| author2 | Willows, Gizelle |
| author_browse | Dowie, Glen Willows, Gizelle |
| author_facet | Willows, Gizelle Dowie, Glen |
| author_sort | Dowie, Glen |
| collection | Thesis |
| description | Includes bibliographical references. |
| format | Thesis |
| id | oai:open.uct.ac.za:11427/13079 |
| institution | University of Cape Town (South Africa) |
| language | eng |
| last_indexed | 2026-06-10T12:33:57.504Z |
| license_str | Not specified — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UCTD — University of Cape Town Open Access Repository |
| publishDate | 2015 |
| publishDateRange | 2015 |
| publishDateSort | 2015 |
| publisher | Department of Finance and Tax |
| publisherStr | Department of Finance and Tax |
| record_format | dspace |
| source_str | UCTD — University of Cape Town Open Access Repository |
| spelling | oai:open.uct.ac.za:11427/13079 Better than average: An investigation of overconfidence in South Africa Dowie, Glen Willows, Gizelle Financial Management Includes bibliographical references. This dissertation examines overconfidence in an investing environment to determine if there is evidence of the phenomenon amongst a sample of academics at participating universities. A survey was sent out to over 6 000 staff members at four South African universities assessing respondents’ ability to estimate their return earned in unit trusts in which they were invested, as well as assessing whether they would adjust their estimate when presented with an anchor (the relevant JSE All Share Index return). 466 completed responses were obtained, of which 81 respondents indicated that they were invested directly in a South African equity unit trust to allow for statistical testing. The data obtained were analysed for evidence of overconfidence and anchoring by comparing respondents’ estimates of fund returns against historical returns and then checking whether they adjusted their estimate after being presented with an anchor. It was found that investors were under-confident rather than overconfident with women giving lower, and thus more under-confident estimates than their male counterparts. Furthermore, it was found that older respondents were better able to estimate their past returns than younger respondents. The presence of an anchor appeared to have no effect on respondents’ estimates. 2015-06-15T07:01:31Z 2015-06-15T07:01:31Z 2014 Master Thesis Masters MCom http://hdl.handle.net/11427/13079 eng application/pdf Department of Finance and Tax Faculty of Commerce University of Cape Town |
| spellingShingle | Financial Management Dowie, Glen Better than average: An investigation of overconfidence in South Africa |
| thesis_degree_str | Master's |
| title | Better than average: An investigation of overconfidence in South Africa |
| title_full | Better than average: An investigation of overconfidence in South Africa |
| title_fullStr | Better than average: An investigation of overconfidence in South Africa |
| title_full_unstemmed | Better than average: An investigation of overconfidence in South Africa |
| title_short | Better than average: An investigation of overconfidence in South Africa |
| title_sort | better than average an investigation of overconfidence in south africa |
| topic | Financial Management |
| url | http://hdl.handle.net/11427/13079 |
| work_keys_str_mv | AT dowieglen betterthanaverageaninvestigationofoverconfidenceinsouthafrica |