COGNITIVE AND SOCIODEMOGRAPHIC FACTORS AS BACKGROUND OF THE INVESTMENT DECISION

Abstract

The study aims to analyze the relationships between behavioral and sociodemographic factors with the investment decision of Brazilian academics in business areas. In order to achieve the research objectives, descriptive research with a quantitative approach was used. The procedures used in the study were Survey survey research and Structural Equation Modeling (Structural Equation Modeling – SEM). The main results highlighted that academics have a positive perception about money, most of them save part of their monthly earnings. However, notice a significant portion that has an expense equivalent to the gain. As far as the results from the Structural Equation Model are concerned, all variables with the exception of salary are related to investment decisions. The exogenous variables curiosity/trust and socialization/family showed positive correlations in relation to investment decisions based on the investor profile. While risk aversion, education level and college period have a negative correlation with individuals' investment decisions. The study's contributions show how behavioral and sociodemographic factors interfere in individuals' investment decisions, in addition to demonstrating how knowledge can significantly act within individuals' everyday decisions. Factors such as socialization play a significant role in disseminating knowledge about finance among individuals