This article examines the influence of behavioural factors on investment decision-making under conditions of high stock market volatility. The theoretical and methodological framework of the study is based on behavioural finance, bounded rationality and prospect theory. Particular attention is given to overconfidence, herding behaviour, loss aversion, the disposition effect, anchoring, investor sentiment and subjective risk perception. Drawing on recent international and domestic studies, as well as official statistical data on the global stock market and the Republican Stock Exchange “Toshkent”, the article identifies the principal characteristics of investment behaviour under heightened market uncertainty. The findings indicate that high volatility intensifies the impact of cognitive and emotional biases, whereas financial literacy, investment experience and the quality of information disclosure can reduce the probability of irrational decision-making.
| Mualliflar | Karimova , Nurjahon, Каримова , Нуржахон, Karimova , Nurjahon |
|---|---|
| Jurnal | Иқтисодий тараққиёт ва таҳлил |
| Nashriyot | Ўзбекистон иқтисодиётини ривожлантиришнинг илмий-тадқиқот маркази |
| ISSN | 2992-877X |
| Nashr sanasi | 2026-07-31 |
| Jild | 4 |
| Son | 7 |
| Betlar | 234-244 |
| Til | Ingliz |
| Ilmiy soha | Iqtisodiyot |
| DOI | 10.60078/2992-877x-2026-vol4-iss7-pp234-244 |
| Indeksga qo‘shilgan | 2026-08-27 |
DOI: 10.60078/2992-877x-2026-vol4-iss7-pp234-244 · Maqolaning asl sahifasi
behavioural finance, investment decisions, stock market, market volatility, herding behaviour, overconfidence, loss aversion, risk perception, financial literacy, Uzbekistan’s capital market, поведенческие финансы, инвестиционные решения, фондовый рынок, рыночная волатильность, стадное поведение, чрезмерная уверенность, неприятие потерь, восприятие риска, финансовая грамотность, рынок капитала Узбекистана, xulq-atvor moliyasi, investitsiya qarorlari, fond bozori, bozor volatilligi, ommaviy xatti-harakat, ortiqcha o‘ziga ishonch, yo‘qotishlardan qochish, riskni idrok etish, moliyaviy savodxonlik, O‘zbekiston kapital bozori
| APA | Karimova , Nurjahon, Каримова , Нуржахон, & Karimova , Nurjahon (2026). BEHAVIORAL FACTORS AND RISK OF INVESTMENT DECISIONS IN THE STOCK MARKET OF THE REPUBLIC OF UZBEKISTAN. Иқтисодий тараққиёт ва таҳлил, 4(7), 234-244. https://doi.org/10.60078/2992-877x-2026-vol4-iss7-pp234-244 |
|---|---|
| GOST (OAK) | Karimova , Nurjahon, Каримова , Нуржахон, Karimova , Nurjahon BEHAVIORAL FACTORS AND RISK OF INVESTMENT DECISIONS IN THE STOCK MARKET OF THE REPUBLIC OF UZBEKISTAN // Иқтисодий тараққиёт ва таҳлил. – 2026. – T. 4, № 7. – P. 234-244. – DOI: 10.60078/2992-877x-2026-vol4-iss7-pp234-244. |
| MLA | Karimova , Nurjahon, Каримова , Нуржахон, and Karimova , Nurjahon. “BEHAVIORAL FACTORS AND RISK OF INVESTMENT DECISIONS IN THE STOCK MARKET OF THE REPUBLIC OF UZBEKISTAN.” Иқтисодий тараққиёт ва таҳлил, 4(7), 234-244, 2026. https://doi.org/10.60078/2992-877x-2026-vol4-iss7-pp234-244 |
| Chicago | Karimova , Nurjahon, Каримова , Нуржахон, and Karimova , Nurjahon. “BEHAVIORAL FACTORS AND RISK OF INVESTMENT DECISIONS IN THE STOCK MARKET OF THE REPUBLIC OF UZBEKISTAN.” Иқтисодий тараққиёт ва таҳлил, 4(7), 234-244 (2026). https://doi.org/10.60078/2992-877x-2026-vol4-iss7-pp234-244 |
| Harvard | Karimova , Nurjahon, Каримова , Нуржахон, and Karimova , Nurjahon (2026) ‘BEHAVIORAL FACTORS AND RISK OF INVESTMENT DECISIONS IN THE STOCK MARKET OF THE REPUBLIC OF UZBEKISTAN’, Иқтисодий тараққиёт ва таҳлил, 4(7), 234-244. https://doi.org/10.60078/2992-877x-2026-vol4-iss7-pp234-244 |
| BibTeX | @article{karimovanurjahon2026,
title = {BEHAVIORAL FACTORS AND RISK OF INVESTMENT DECISIONS IN THE STOCK MARKET OF THE REPUBLIC OF UZBEKISTAN},
author = {Karimova , Nurjahon and Каримова , Нуржахон and Karimova , Nurjahon},
journal = {Иқтисодий тараққиёт ва таҳлил},
year = {2026},
volume = {4},
number = {7},
pages = {234-244},
doi = {10.60078/2992-877x-2026-vol4-iss7-pp234-244},
url = {https://doi.org/10.60078/2992-877x-2026-vol4-iss7-pp234-244}
} |
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