Does Training On Behavioral Finance Influence Fund Managers' Perception And Behavior?

This paper provides survey evidence on the influence of training on behavioral finance on professional fund managers' perception and investment behavior. In particular, it examines whether "Trained" fund managers differ from the "Untrained" ones in their perception of markets and themselves as well as in their choice of information sources and investment strategies. Additionally, the influence of integration of behavioral finance approaches into investment processes is also considered. The results reveal that training on behavioral finance basically intensifies the perception of biases in the behavior of others, i.e. the reflection effect and the home bias.