解读印度股市投资者情绪:结构方程模型方法。

Q2 Pharmacology, Toxicology and Pharmaceutics
F1000Research Pub Date : 2025-05-02 eCollection Date: 2024-01-01 DOI:10.12688/f1000research.156635.2
Arvind Nain, N S Borha, Farman Ali, Anu Sayal, Pradeep Suri, Sanjay Singh Chauhan, Vasim Ahmad
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引用次数: 0

摘要

研究背景:本研究考察了心理和社会偏见如何影响个人投资者的投资决策。投资者情绪显著影响金融市场,经常导致股票价格偏离其内在价值。在印度等新兴经济体,散户投资者受到心理因素的严重影响,因此理解这些态度至关重要。方法:本研究分析了在全国范围内进行的包括552名散户投资者的综合问卷调查的数据。本研究采用结构方程模型(SEM)来确定影响个人在印度股票市场投资决策的因素。研究发现:本研究揭示了投资者态度对投资决策的影响及其影响因素。该研究表明,投资者根据情绪做出财务决策。除了评估印度金融市场的有效性外,本研究还试图通过探索影响其决策过程的因素来确定投资者选择的合理性。结论:研究结果表明,信息寻求、锚定、羊群、代表性和过度自信对投资者都有较大的影响。此外,研究还证明了投资者的非理性和股票市场的无效率。研究结果可用于进一步研究国际投资者的交易行为,并鼓励在行为金融学领域的进一步研究。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Decoding Investor Sentiments in the Indian Stock Market: A Structural Equation Modelling Approach.

Background of the study: This research examines how psychological and social biases affect individual investors' investing decisions. Investor sentiment significantly influences financial markets, frequently causing stock prices to deviate from their intrinsic values. In rising economies such as India, where retail investors are significantly affected by psychological factors, comprehending these attitudes is crucial.

Methods: This study analyses data from a comprehensive questionnaire that was conducted throughout the nation and included 552 retail investors. The investigation employed structural equation modelling (SEM) to identify the elements that influence the decision-making of individuals who invest in the Indian stock market.

Findings: The research offers insight on the influence that investor attitude has on investment decision-making as well as the factors that precede it. The study demonstrates that investors make financial decisions based on sentiment. In addition to assessing the efficacy of the Indian financial market, this study sought to ascertain the rationality of investors' choices by exploring the factors that influence their decision-making process.

Conclusion: The outcome of the study shows that information seeking, anchoring, herding, representativeness, and overconfidence all have a big impact on investors. Moreover, the study has proven investors' irrationality and stock market inefficiency. The findings may be employed to further examine the trading practices of international investors and encourage further study in the field of behavioural finance.

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来源期刊
F1000Research
F1000Research Pharmacology, Toxicology and Pharmaceutics-Pharmacology, Toxicology and Pharmaceutics (all)
CiteScore
5.00
自引率
0.00%
发文量
1646
审稿时长
1 weeks
期刊介绍: F1000Research publishes articles and other research outputs reporting basic scientific, scholarly, translational and clinical research across the physical and life sciences, engineering, medicine, social sciences and humanities. F1000Research is a scholarly publication platform set up for the scientific, scholarly and medical research community; each article has at least one author who is a qualified researcher, scholar or clinician actively working in their speciality and who has made a key contribution to the article. Articles must be original (not duplications). All research is suitable irrespective of the perceived level of interest or novelty; we welcome confirmatory and negative results, as well as null studies. F1000Research publishes different type of research, including clinical trials, systematic reviews, software tools, method articles, and many others. Reviews and Opinion articles providing a balanced and comprehensive overview of the latest discoveries in a particular field, or presenting a personal perspective on recent developments, are also welcome. See the full list of article types we accept for more information.
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