Preview

Factors Affecting Financial Advisor's Perception in Portfolio Management: with Reference to Pakistan

Best Essays
Open Document
Open Document
5850 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Factors Affecting Financial Advisor's Perception in Portfolio Management: with Reference to Pakistan
FACTORS AFFECTING FINANCIAL ADVISOR’S PERCEPTION IN PORTFOLIO MANAGEMENT: WITH REFERENCE TO PAKISTAN

Ahmad Kaleem
Associate Professor,
Department of Business Administration,
Lahore School of Economics,
Burki Road Lahore, Pakistan.
Email: drkaleem@lahoreschool.edu.pk
Ph: 042-6560936, Ext 208; Fax: 042-6560905

Rana Abdul Wajid
Professor of Statistics,
Centre for Mathematics and Statistical Sciences,
Lahore School of Economics,
Burki Road Lahore, Pakistan.
Email: drrana@lahoreschool.edu.pk
Ph: 042-6560936, Ext 221 ; Fax: 042-6560905

Hassan Sagheer Hussain
MBA student,
Lahore School of Economics,
Burki Road Lahore, Pakistan.
Email: hassanhussain@hotmail.com

FACTORS AFFECTING FINANCIAL ADVISOR’S PERCEPTION IN PORTFOLIO MANAGEMENT: WITH REFERENCE TO PAKISTAN

ABSTRACT This article explores the relationship between decision making by financial advisors, within the context of portfolio management and the factors that may influence such decisions in Pakistan. It argues that personal, psychological, socio-cultural, religious and gender issues influence the advisor’s perception leading him to a non optimal decision. The data for this research is collected through a specifically designed questionnaire, consisting of forty four (44) statements measuring a host of independent variables from each of the above mentioned factors, and seven (6) questions describing the respondents profile and one (1) question measuring the dependent variable: style of investment. Overall results concludes that the brokers/financial advisors considered friendly environment at workplace, followed by countries laws and then job satisfaction and quality of service as most important attributes. Same time, they gave least importance to gender related issues, quick profiteering and showed keen believe in the market fundamentals. Finally, the results indicate that age, income, language and orientation of education have significant role in determining the



References: Arlen, C., Poston, L. R., Akbulut, A. Y., (2007). Advice availability and gender differences in risky decision making: a study of online retirement planning. Proceedings of the 40th Hawaii International Conference on System Sciences. Barber, M. and Odeon., T. (2001). Boys will be boys: gender, overconfidence, and common stock investment. The Quarterly Journal Of Economics, Vol. 116 (1), Pp. 261-292 Bittlingmayer Blanchard., O. Rhee., C. and Summers L., (1993). The stock market, profit, and investment. The Quarterly Journal of Economics, Vol. 108 (1), Pp. 115-136 Coleman, L., (2007) Cumming, S, L., and Burrit, L, R., (1999). Corporate social disclosure characteristics and the role of ethical investment trusts. Asian Review of Accounting, Vol, 7, Pp, 20-42. Daude., C. and Stein., E., (2007). the quality of institutions and foreign direct investment. Economics & Politics, Vol. 19 (3), Pp. 317-344. Dracher., K. Kempf., A. and Wagner., M., (2006). Decision process in German mutual fund companies: evidence from a telephone survey. CFR Working Paper 06-07. Center for Financial Research, University of Cologne, Germany. Dwyer, P.D., J.H. Gilkeson,. List.. J.A., (2002). Gender differences in revealed risk taking: evidence from mutual fund investors. Economics Letters, Vol. 76, Pp. 151-158 Epstein., M.J Fisher., D.E., Jordan., R.J., (2006). Security analysis & portfolio management. Sixth edition, Prentice hall of India.  Hinz, R., McCarthy, D., Turner, J., (1997) Jason., M.D. and Ong,. Li.L., (2005). Seasonalities in china 's stock markets: cultural or structural? IMF Working Paper # 05/04. Kaleem, A. and Saima., A., (2008). Impact of gender on investment decisions: a broker’s perspective. Working Paper. Kuhberger, A., (1998). The influence of framing on risky decisions: a meta analysis. Organizational Behavioral and Human Decision Processes, Vol. 75(1), Pp. 23-55. Lee-Partridge, J.E and Ho, P. S., (2003). A retail investorapos;s perspective on the acceptance of internet stock trading. System Sciences, Proceedings of the 36th Annual Hawaii International Conference, 6-9 January, 2003. Lord., M.D. and Ranft., A.L., (2000). Organizational learning about new international markets: exploring the internal transfer of local market knowledge. Journal of International Business Studies, Vol. 31(4), Pp. 573-589. Lundeberg, M. A; Fox P. W., and Punccohar. J., (1994). Highly confident but wrong: gender differences and similarities in confidence judgments. Journal of Educational Psychology, Vol. 86, pp. 114–121. Metwally, M, M., (1997). Economic consequences of applying Islamic principals in the Muslims societies. International Journal of Social Economic, Vol, 24, pp, 941-957. Mosley., L. and Singer D.A., (2008). Taking stock seriously: equity-market performance, government policy, and financial globalization. International Studies Quarterly, Vol. 52 (2), Pp 405 – 425. Poston, R., Looney, C., Akbulut, A., (2007). How advice and its source characteristics prompts changes in investment decisions. AMCIS Proceedings. Paper 13. http://ais.bepress.com/amcis2007/13 Prince, M., (1993) Shyam L. K., (2006). Business ethics- concepts, crisis & solution. Deep & Deep Publications, India. Slovic, P., (2000). The perception of risk. London: Earthscan Publications. Sung B., C., Sandager, J.P., (1997). What consumers look for in financial planners. Association For Financial Counseling and Planning Education. Swaleheen., M., (2007). Corruption and investment choices: a panel data study. Kyklos, Vol. 60 (4), Pp. 601-616. Wilson, R., (1997). Islamic finance and ethical investment. International Journal of Social Economic, Vol, 24, pp, 1325-1342. Yartey, C.A., (2008). The determinants of stock market development in emerging economies: is south Africa different? IMF Working Paper #08/32 Yiming Hu., Thomas W. L., Siqi Li., (2008)

You May Also Find These Documents Helpful