To assess the performance of mutual funds, this research uses the indexes of risk, return, portfolio diversification & transaction activity ratio. For the purpose of investigating the relationship between the overconfidence of investment managers and the performance assessment of mutual funds, a sample of investment managers of 37 mutual funds was taken. The derived results from analyzing the data by Pearson correlation show that between the overconfidence of investment managers and risk, return, portfolio diversification, the ratio of transaction activity of mutual fund, there exist meaningful direct relation, meaningful reverse relation, and meaningful direct relation, respectively. The results of this research show that overconfidence of men is more than women, and that as the experience, education and age of people increase, their overconfidence decreases. But, in terms of better than average effect and wrong calibration, from the point of general knowledge, no meaningful (significant) difference was observed, among different age group .
اسلامی بیدگلی، غلامرضا و طهرانی، اشرف. (1386). «بررسی رابطه فرااعتمادی سرمایهگذاران انفرادی و حجم معاملات آنها در بورس اوراق بهادار تهران»، پژوهشنامه اقتصادی، زمستان 86، صص 253-231، تهران.
Barber، B. M. and Odean، T. )1999(".The courage of misguided convictions"، Financial Analysts Journal،Vol. 55، No. 6، Pp. 41-55.
Barber، B. M.، and Odean، T. (2000). "Trading is hazardous to your wealth: The common stock investment performance of individual investors"،Journal of Finance، Vol. 55، No. 2، Pp.773-806.
Barber B. M. AndOdean، T.(2001). "Boys Will Be Boys: Gender، Overconfidence، and Common Stock Investment"، Quarterly Journal of Economics، Vol. 116, Pp.261-292.
Barber، B. M.، Lee،Y.T.، Liu، Y.G.، And Odean، T. (2003). "Who gains from trade? Evidence from Taiwan"، Working Paper، University of California.
Deaves. R. and R. Luders. and G. Ying Luo (2003). "An Experimental Test of the Impact of Overconfidence and Gender on Trading Activity"، McMaster University Working Paper.
Glaser، M. and M. Weber (2007). "Overconfidence and Trading Volume"، Geneva Risk and Insurance Revue، vol. 32،No. 6،Pp.1-36.
Ghalibaf-Asl, H., Kordi, M., & Ajdari, F. (2013). Overconfidence of Investment Managers and the Performance Assessment Indexes of Mutual Funds. Financial Management Strategy, 1(1), 17-34. doi: 10.22051/jfm.2014.953
MLA
Hasan Ghalibaf-Asl; Malihe Kordi; Fatemeh Ajdari. "Overconfidence of Investment Managers and the Performance Assessment Indexes of Mutual Funds". Financial Management Strategy, 1, 1, 2013, 17-34. doi: 10.22051/jfm.2014.953
HARVARD
Ghalibaf-Asl, H., Kordi, M., Ajdari, F. (2013). 'Overconfidence of Investment Managers and the Performance Assessment Indexes of Mutual Funds', Financial Management Strategy, 1(1), pp. 17-34. doi: 10.22051/jfm.2014.953
VANCOUVER
Ghalibaf-Asl, H., Kordi, M., Ajdari, F. Overconfidence of Investment Managers and the Performance Assessment Indexes of Mutual Funds. Financial Management Strategy, 2013; 1(1): 17-34. doi: 10.22051/jfm.2014.953