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Role of Cognitive Bias in Investment Decision Making
(Shanker Dev Campus, 2024) Yagya Bahadur Ghimire; Dr. Suman Kamal Parajuli
This study explores the influence of cognitive biases on investment decision-making among Nepalese investors, focusing on overconfidence bias, illusion of control bias, anchoring bias, and loss aversion bias. Using a descriptive research design, data were collected from 384 active investors in the Nepal Stock Exchange through structured questionnaires. The results reveal that cognitive biases significantly shape investment decisions, often leading to irrational behaviors and suboptimal outcomes. Overconfidence bias emerged as a dominant factor, with investors overestimating their predictive abilities and underestimating risks. Illusion of control bias was also prominent, as participants believed they could influence market outcomes, leading to excessive risk-taking. Anchoring bias reflected a fixation on initial reference points, such as purchase prices, while loss aversion bias highlighted a tendency to prioritize avoiding losses over potential gains, resulting in poor portfolio adjustments. The findings align with behavioral finance theories, particularly Prospect Theory, emphasizing the need for financial literacy programs and behavioral interventions. This study contributes to the behavioral finance literature, offering actionable recommendations to mitigate biases and foster rational investment practices, thereby enhancing market efficiency in Nepal.
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Psychological Factors on Investment Decision Making in Nepalese Stock Market
(Shanker Dev Campus, 2024) Subas Dahal; Dr. Suman Kamal Parajuli
This study explores the psychological factors influencing investment decisions in the Nepalese stock market, focusing on beliefs, self-confidence, regret and remorse, and loss aversion. The research adopts a descriptive design, utilizing structured questionnaires distributed among 150 retail investors to examine the interplay between cognitive biases and financial behaviors. Findings reveal that psychological factors significantly impact investment decisions, with loss aversion and regret being prominent drivers of conservative strategies, while self-confidence often leads to overconfident behaviors. Correlation and regression analyses demonstrate weak to moderate relationships between these psychological factors and investment outcomes, underscoring their nuanced effects. The study highlights the need for enhanced financial literacy programs and policy interventions to mitigate cognitive biases and promote rational decision-making in the Nepalese stock market. These insights contribute to the growing field of behavioral finance, offering region-specific evidence and practical implications for emerging markets.
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WORKFORCE DIVERSITY MANAGEMENT AND ORGANIZATIONAL PERFORMANCE IN NEPALESE HOSPITALITY SECTOR
(Shanker Dev Campus, 2024) Sushil Khanal; Asso. Prof. Dr. Kapil Khanal
The aim of the study is to assess the workforce diversity management and organizational Performance, in the form of gender diversity, age diversity, ethnic diversity, education diversity and marital diversity. On the review of theoretical, conceptual and empirical related literature of the study, workforce diversity had a significant relationship with their organizational Performance. In conducting this study, the required data is obtained through structured questionnaires. The Instrument (structured questionnaires) was adopted from prior studies, in order to measure all variables of the study. To check the validity and reliability of the adopted instruments validity and reliability test was also carried out. To determine the sample size from the total population of the study, the researcher uses formula based-sample size determination. To select respondents from each stratum simple random sampling technique was also adopted. Basically, a total of 400 questionnaires were distributed to the sampled employee, among these 400 were returned. The respondents were more likely prioritize organization who recruited people from different level and stream of formal education. Educationally diverse workplace was observed to be more delightful to work. And there is significant positive and moderate impact of age diversity and organizational Performance. Similarly, there is less impact of ethnic diversity and organizational Performance. The result also shows significant positive and moderate relationship between education diversity and organizational Performance and also marital status and organizational Performance.