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Volume 13
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Article

Behavioral Risk Management in Investment Strategies: Analyzing Investor Psychology

by
Jacob Odei Addo
1,
Juraj Cúg
2,
Solomon Abekah Keelson
1,
John Amoah
1,* and
Zora Petráková
3
1
Department of Marketing and Strategy, Takoradi Technical University, Takoradi P.O. Box 256, Ghana
2
Department of Economics, Faculty of Operational and Economics of Transport and Communications, University of Zilina, 010 26 Zilina, Slovakia
3
Institute for Forensic Engineering, Faculty of Civil Engineering, Slovak University of Technology, 810 05 Bratislava, Slovakia
*
Author to whom correspondence should be addressed.
Int. J. Financ. Stud. 2025, 13(2), 53; https://doi.org/10.3390/ijfs13020053
Submission received: 15 December 2024 / Revised: 21 February 2025 / Accepted: 3 March 2025 / Published: 2 April 2025
(This article belongs to the Special Issue Advances in Behavioural Finance and Economics 2nd Edition)
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Abstract

Behavioral risk management is an increasingly important consideration in investment strategies, as research has shown that investor psychology can significantly impact portfolio performance. This study examines how psychological variables influence investing choices and the effects that these actions have on risk mitigation and overall investment performance. The primary respondents for this study were the employees of Takoradi Technical University. Partial Least Square Structural Modeling was adopted for the data processing, analysis, and testing of the study’s hypotheses. The study’s findings, which were based on a carefully chosen sample of 348 investors, showed that investigating behavioral risk management in investment strategies is an effective method for thoroughly comprehending and utilizing investors’ psychology to maximize risk management procedures and enhance investment results in dynamic financial markets. Seven hypotheses were deemed insignificant, and five were considered significant. This study is limited by its exclusive focus on only one technical university. This study augmented the growing corpus of research on risk management in investment strategies.
Keywords: behavioral finance; cognitive biases; investor psychology; investment strategies; risk management behavioral finance; cognitive biases; investor psychology; investment strategies; risk management

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MDPI and ACS Style

Addo, J.O.; Cúg, J.; Keelson, S.A.; Amoah, J.; Petráková, Z. Behavioral Risk Management in Investment Strategies: Analyzing Investor Psychology. Int. J. Financ. Stud. 2025, 13, 53. https://doi.org/10.3390/ijfs13020053

AMA Style

Addo JO, Cúg J, Keelson SA, Amoah J, Petráková Z. Behavioral Risk Management in Investment Strategies: Analyzing Investor Psychology. International Journal of Financial Studies. 2025; 13(2):53. https://doi.org/10.3390/ijfs13020053

Chicago/Turabian Style

Addo, Jacob Odei, Juraj Cúg, Solomon Abekah Keelson, John Amoah, and Zora Petráková. 2025. "Behavioral Risk Management in Investment Strategies: Analyzing Investor Psychology" International Journal of Financial Studies 13, no. 2: 53. https://doi.org/10.3390/ijfs13020053

APA Style

Addo, J. O., Cúg, J., Keelson, S. A., Amoah, J., & Petráková, Z. (2025). Behavioral Risk Management in Investment Strategies: Analyzing Investor Psychology. International Journal of Financial Studies, 13(2), 53. https://doi.org/10.3390/ijfs13020053

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