EXPLORING THE VARIATION IN THE INVESTMENT BEHAVIOUR OF THE HOUSEHOLD INVESTORS:
Abstract
This research explores the variation in Investment Behaviour of Household Investors in Wayanad district of Kerala, a relatively low literate and economically backward district of Kerala state in India. A multi-stage stratified random sampling technique was applied for the selection of sample Households from the complete list of household investors in the District. The examination based on 300 responses collected from the household investors across the three Block Panchayaths (Kalpetta,Sulthan bather and Mananthawady) in wayanad district, finds that there exists significant variation in the Investment objectives(IO), Financial literacy (FL) and Saving Habit (SH) of Household investors. The variation was tested by using Two-Way ANOVA. The results show that the Investment objectives and financial literacy of the households selected for the purpose of study varies considerably according to their annual family income and the saving habits of the households vary significantly according to their educational qualification.
Keyword : investment, investment behaviour, investment objectives, financial literacy, saving habits.
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
1. Ajinkya Kumawat(2021), ‘study on investment pattern and the factors influencing investment decisions of an individual’,Shodhsarita, vol.7,Issue 25 2. Alvarez-Cuadrado, F., & Van Long, N. (2008). A permanent income version of the relativeincome hypothesis. 3. Aria Sarwary(2021). ‘A study on trends and patterns of household’s saving and investment on economy’, International Journal of Scientific and Research Publications, Volume 11, Issue 1, January 2021. 4. Aspara, J. and Hoffmann, A.O.I. (2015). Cut your losses and let your profits run: howshifting feelings of personal responsibility reverses the disposition effect, Journal of Behavioural and Experimental Finance.8, 18-24. 5. Bekiros, S., Jlassi, M., Lucey, B., Naoui, K., & Uddin, G. S. (2017). Herding behaviour,market sentiment and volatility: Will the bubble resume? North American Journal ofEconomics and Finance, 42, 107-131. 6. Chalam, G. V. (2003). Investors Behavioural Pattern of Investment and Their Preferences ofMutual Funds, Southern Economist, Vol. 41, No. 19. 7. Chaturvedi, M., &Khare, S. (2012). Study of saving pattern and investment preferences ofindividual household in India. International Journal of Research in Commerce andManagement, 3(5), 115-120. 8. D’acunto, F. (2016) Tear down this Wall Street: the effect of anti-market Rhetoric oninvestment. Issue. 842799. 9. Gentry, W. M., & Hubbard, R. G. (2004). Entrepreneurship and household saving. The BEJournal of Economic Analysis & Policy, 4(1). 10. Glenzer, F., Grundl, H.,and Wilde, C. (2014), And lead us not into temptation, presentationformats and the choice of risky alternatives.ICIR Working Paper Series, Nos 06/11 11. Hua, T. X., &Erreygers, G. (2019). Applying quantile regression todetermine the effects of household characteristics on household saving rates in Vietnam. Journal of Asian Business and Economic Studies. 12. Jagongo, A. and Mutswenje, V.S. (2014). A survey of the factors influencing investmentdecisions: the case of individual investors at the NSE. International Journal ofHumanities and Social Science. 4 ( 4) 92-102. 13. Kim,S., Kenneth A. Kim and John R Nofsinger (2003): ―’The Behaviour and Performance ofindividual investors in Japan’ Pacific Basin Finance Journal. 14. National Council of Applied Economic Research (2011) How Households Save and Invest: Evidence from NCAER Household Survey, Sponsored by Securities and Exchange Board of India (SEBI) July 2011 15. Nair, V.R. and Antony, A. (2015). Evolutions and challenges of behavioral finance. International Journal of Science and Research (IJSR), 4 ( 3). 1055-1059. 16. Rekha G &Vishnupriya R, (2019), A Study on Investment Pattern Among Working Women,Research and Modern Education, Volume 3, Issue 2 17. U M Gopal Krishna, Aliya Sultana, T Naraya Reddy, (2019), ‘Investors Perception towards Investment Avenues’, International Journal of Recent Technology and Engineering. Volume 8 Issue 2 18. Rangarajan, C., & Dholakia, R. H. (2009). Report of the High-Level Committee onEstimation of Savings and Investment. 19. Shukla, R. K. (2007). How India Earns, Spends, and Saves: Results from the Max New YorkLife--NCAER India Financial Protection Survey. Max New York Life InsuranceLimited. 20. Syndera, W. D. (2007). Econometric Studies of Household Saving Behavior in DevelopingCountries. The Journal of Development Studies, 10, 139-153. 21. Umamaheswari,S.,& Ashok Kumar , M.(2013). A Study on Investors Attitude TowardsInvestment Pattern of Salaried Class Investors with Special Reference to theCoimbatore District. Global Research Analysis , 2(1), 2277 – 8160