The Lahore Journal
of Business

The Lahore Journal
of Business

Lahore Journal of Business

(HEC recognized journal in “Y” category)

The Lahore Journal of Business is aimed at providing a specialized forum for dissemination of qualitative and quantitative research in various areas of business administration. The LJB invites researchers, policy makers and analysts to submit original theoretical and empirical papers that explore and contribute to the understanding of various areas in the business domain. The Journal aims at bringing together state-of-art research findings, particularly from emerging markets, in various business disciplines including (but not limited to) accounting, banking, management, marketing, finance, investments, human resource management and organizational behavior.

Syed Zain Ul Abdin, Naheed Sultana, Mariam Farooq, Syed Zulfiqar Ali Shah

While other studies have investigated the direct impact of prospect factors on investment decisions and performance at the individual level, we examine the mediated link between the two, via fundamental, technical and calendar anomalies. The study applies a structural equation model to data for 324 individual investors in Pakistan. Our findings show that two processes, fundamental and calendar anomalies, mediate the relationship between certain prospect factors and investment decisions and performance. Of these prospect factors, regret aversion is the strongest predictor of investment decisions and performance, followed by calendar anomalies. It is also the strongest predictor of investment decisions and performance via fundamental anomalies.