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Behavioral Finance And Speculative Behavior Of Investors: Evidence From Saudi Stock Market

Table 3:

Construct Items Convergent validity A V E Discriminant Validity? Collinearity
Factor Loadings Composite reliability AVE VIF
Overconfidence heuristic OC1OC2OC3 OC5 0.6800.8310.7790.518 0.800 0.507 0.713 Yes 1.034
Representativeness heuristic R1R4R6 0.7650.8190.542 0.757 0.517 0.719 Yes 1.027
Confirmation heuristic C3_RC4_R 0.9200.804 0.854 0.747 0.864 Yes 1.061
Anchoring heuristic AN6 1 1 1 1.000 Yes 1.178
Availability heuristic AV2AV4 0.4670.985 0.722 0.5952 0.772 Yes 1.168
Loss aversion LA1LA2 0.5620.986 0.771 0.644 0.803 Yes 1.521
Regret aversion RA1RA2 0.9240.560 0.726 0.584 0.765 Yes 1.537
Speculation behavior BBS1BBS3 0.8970.692 0.787 0.558 0.801 Yes NA
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