Does training on behavioral finance influencefund managers’ perception and behavior?

This paper provides survey evidence on the influence of training on behavioral financeon professional fund managers’ perception and investment behavior. In particular, it examineswhether “trained” fund managers differ from the “untrained” ones in their perceptionof markets and themselves as well as in their choice of information sources and investmentstrategies. Additionally, the influence of integration of behavioral finance approaches intoinvestment processes is also considered. The results reveal that training on behavioral financebasically intensifies the perception of biases in the behavior of others, i.e. the reflectioneffect and the home bias.[...]