dc.description.abstract |
Behavioural factors play an important role in decision making which entails overconfidence, Anchoring,
Prospecting, Herding. However, behavioural factors are associated with some personal and enterprise
features. Therefore, the paper seeks to investigate the influence of demographic characteristical and
behavioural factors among Small and Micro Enterprises. The study was premised on the Behavioural
Portfolio. Positivism paradigm was deployed. The study adopted explanatory research design. The
target population of the study was 102,821 owners of SMEs in Nairobi County in Kenya. A sample of
383 respondents was selected using stratified random sampling technique. ANOVA was used in
analysis using 5% significant level to test hypotheses. The study found that firm size had significant
effect on anchoring and prospect factor. However, enterprenuers’ education has significant influence
on behavioural factors. Similarly, organization origin has significant effect on behavioural factors. The
study recommends that Entrepreneur experince has significant effect on overconfidence, anchoring
factors, and herding factors. Therefore, it is important for enterprenuers to gain more experience since
it influences the behavioural factors. Similar, the enterprenuers education has significant influence of
overconfidence, anchoring factors, prospect factors and herding factors. Therefore, enterprenuer should
improve knowledge through going through education to reduce behavioral factor in decision making
process. |
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