Pearson correlations in each group of investment with buy-recommended versus sell-recommended stocks, presentation vs no presentation of recommendation, return prediction and confidence in return prediction
| Variable | Non-professionals (n = 80) | Finance students (n = 28) | Professionals (n = 33) |
|---|---|---|---|
| Buy/sell recommended stocks | 0.30*** | 0.30** | 0.08 |
| Presentation of recommendation | 0.06 | 0.03 | 0.12 |
| Return prediction | 0.69*** (0.66***) | 0.66*** (0.63***) | 0.76*** (0.75***) |
| Confidence in return prediction | 0.28*** (0.24***) | 0.21* (0.13) | 0.26** (0.17) |
| Variable | Non-professionals ( | Finance students ( | Professionals ( |
|---|---|---|---|
| Buy/sell recommended stocks | 0.30*** | 0.30** | 0.08 |
| Presentation of recommendation | 0.06 | 0.03 | 0.12 |
| Return prediction | 0.69*** (0.66***) | 0.66*** (0.63***) | 0.76*** (0.75***) |
| Confidence in return prediction | 0.28*** (0.24***) | 0.21* (0.13) | 0.26** (0.17) |
Note(s): Buy-recommended versus sell-recommended stocks are coded 1 versus −1, and presentation versus no presentation of recommendation is coded 1 versus −1. These variables are uncorrelated with each other. Their point-biserial correlations are reported with investment
Partial correlations are reported in parentheses controlling for the buy-recommended versus sell-recommended stocks. All variables are mean-centered
*p < 0.05: **p < 0.01; ***p < 0.001
Source(s): Authors' own creation/work
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