Adaptability factors and behavioral biases of investors in frontier markets: An adaptive market hypothesis perspective

Jannatunnesa Jannatunnesa; Nurul Shahnaz Mahdzan; Abu Hanifa Md Noman

doi:10.1371/journal.pone.0345883

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Open Access

Peer-reviewed

Research Article

Adaptability factors and behavioral biases of investors in frontier markets: An adaptive market hypothesis perspective

Jannatunnesa Jannatunnesa,

Roles Conceptualization, Data curation, Formal analysis, Investigation, Methodology, Software, Writing – original draft

Affiliation UM Business School, Faculty of Business and Economics, Universiti Malaya, Kuala Lumpur, Malaysia

https://orcid.org/0009-0002-7945-252X

⨯
Nurul Shahnaz Mahdzan ,

Roles Conceptualization, Formal analysis, Investigation, Methodology, Supervision, Validation, Writing – review & editing

* E-mail: n_shahnaz@um.edu.my

Affiliation Department of Finance, Faculty of Business and Economics, Universiti Malaya, Kuala Lumpur, Malaysia
⨯
Abu Hanifa Md Noman

Roles Conceptualization, Formal analysis, Investigation, Methodology, Supervision, Validation, Writing – review & editing

Affiliation Faculty of Social Science, Southampton Malaysia Business School, University of Southampton-Malaysia Campus, Iskandar Puteri, Johor, Malaysia
⨯

Adaptability factors and behavioral biases of investors in frontier markets: An adaptive market hypothesis perspective

Jannatunnesa Jannatunnesa,
Nurul Shahnaz Mahdzan,
Abu Hanifa Md Noman

Published: March 26, 2026
https://doi.org/10.1371/journal.pone.0345883

About the Authors

Jannatunnesa Jannatunnesa

Roles Conceptualization, Data curation, Formal analysis, Investigation, Methodology, Software, Writing – original draft

Affiliation UM Business School, Faculty of Business and Economics, Universiti Malaya, Kuala Lumpur, Malaysia

https://orcid.org/0009-0002-7945-252X

Nurul Shahnaz Mahdzan

Roles Conceptualization, Formal analysis, Investigation, Methodology, Supervision, Validation, Writing – review & editing

* E-mail: n_shahnaz@um.edu.my

Affiliation Department of Finance, Faculty of Business and Economics, Universiti Malaya, Kuala Lumpur, Malaysia

Abu Hanifa Md Noman

Roles Conceptualization, Formal analysis, Investigation, Methodology, Supervision, Validation, Writing – review & editing

Affiliation Faculty of Social Science, Southampton Malaysia Business School, University of Southampton-Malaysia Campus, Iskandar Puteri, Johor, Malaysia

Competing Interests

The authors have declared that no competing interests exist.

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