Impact of Behavioural Biases on Perceived Market Efficiency: Empirical Evidence from Pakistan Stock market

Abstract

The aim of this study is to investigate the impact of behavioural biases on perceived market efficiency. The overconfidence, self attribution and optimism are behavioural biases that included in the current research paper. The study is significant for all investors, policy makers and investment advisors. Primary data has been collected through use of a well designed questionnaire. Reliability test, Correlation and linear regression techniques are used in this study by SPSS 20.0. The study concluded that all three biases overconfidence, self attribution and optimism have positive and significant effect on perceived market efficiency.