IMPACT OF BEHAVIOURAL BIASES IN CHOOSING INVESTMENT AVENUES: AN EMPIRICAL STUDY

IF 0.5 Q4 ENGINEERING, INDUSTRIAL

International Journal of Manufacturing Research Pub Date : 2021-04-09 DOI:10.36713/EPRA6687

R. Agarwal

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Abstract

The behaviour of an individual investor is expansively influenced by different biases that came into limelight in the rising regulation of behaviour finance. In finance, behavioural finance is the latest regulation that studies the cognitive psychology of the decisions that are taken by an individual related to money. The theory of standard economic had evolved this in its response and it has the ability to presume that people are sensible, prefers low risks investments and maximises their profits. In real time scenario it is seen that people are not that sensible when they make their decisions during the investment process. There are different behavioral biases factors that influence the investors while choosing their investment avenues. The objective of the study is to know the behavioural factors that affect the decision of the Investors and their impact on the investor in choosing the investment avenues. A sample of 273 respondents were taken in which Investors from different sector were surveyed with the help of standard questionnaire. Mean and t test was used to get appropriate results. It is found that there are different behavioral factors such as mood, emotional, heuristic, personality and overconfidence that influence the investors while making his investments and all the behavioural biases has a significant impact on the process of choosing the investment avenues. KEYWORDS: Behavioural Biases, Behavioural Finance, Investment Avenues, Investors.

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行为偏差对投资渠道选择的影响：一项实证研究

个人投资者的行为受到不同偏见的广泛影响，这些偏见在行为金融学日益加强的监管中受到关注。在金融领域，行为金融学(behavioural finance)是一门最新的学科，研究个人与金钱有关的决策的认知心理学。标准经济学理论对此作出了相应的发展，它有能力假设人们是明智的，喜欢低风险的投资，并使他们的利润最大化。在实时场景中，可以看到人们在投资过程中做出决策时并不那么明智。投资者在选择投资途径时受到不同的行为偏差因素的影响。本研究的目的是了解影响投资者决策的行为因素及其对投资者选择投资途径的影响。采用标准问卷对来自不同行业的投资者进行调查，共抽取273名受访者。采用均数检验和t检验得到合适的结果。研究发现，情绪、情绪、启发式、个性和过度自信等不同的行为因素影响着投资者的投资行为，所有的行为偏差对投资途径的选择过程都有显著的影响。关键词:行为偏差，行为金融学，投资途径，投资者。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Journal of Manufacturing Research Engineering-Industrial and Manufacturing Engineering

CiteScore

0.90

自引率

0.00%

发文量

期刊介绍： Manufacturing contributes significantly to modern civilization and creates momentum that drives today"s economy. Much research work has been devoted to improving manufactured product quality and manufacturing process efficiency for many decades. Thanks to recent advances in computer and network technologies, sensors, control systems and manufacturing machines, manufacturing research has progressed to a new level. In addition, new research areas in manufacturing are emerging to address problems encountered in the evolving manufacturing environment, such as the increasing business practice of globalisation and outsourcing. This dedicated research journal has been established to report state-of-the-art and new developments in modern manufacturing research.