Advance Statistics Project on Investors Behaviour

Prepared by
Saathwik Reddy Bobbala – 19021141094
Venkata Prajwal – 19021141133
Vamsi Krishna – 19021141136

Symbiosis Institute of Business Management

 INVESTORS BEHAVIOUR IN VARIOUS INVESTMENT AVENUES – A STUDY

This study deals with the behavior of the investor to identify the better investment avenues
available in India. The investment strategy is a plan, which is created to guide an investor to
choose the most appropriate investment portfolio that will help them to achieve their financial
goals within a particular period of time.
The author used Chi-square test as one of the tool in his paper.
One of the test is done between Age and Income of the respondents. He set the hypotheses as –
Null Hypothesis H0: There is no association between Age and income.
Alternate Hypothesis H1: There is an association between Age and income.
Result: The author accepted the alternate hypothesis at 1% significance level, since the chi-
square value is 0.001, which is less than 0.01 (significant value).

Large numbers of portfolio is not good for healthy investment. The Indian investors are very
much aware about the concept of portfolio allotments and risk and return of the investment. In
India, purchase of gold and land are the two most ideal form of investment. Its carry good return
and appreciation. This confirms that that Indian investors even if they are high income, well
educated, salaried, independent are conservative investors prefer to play safe.
(Dr. S. Suriya Murithi, 2012)

A STUDY OF SAVING AND INVESTMENT PATTERN OF SALARIED CLASS

PEOPLE WITH SPECIAL REFERENCE TO PUNE CITY (INDIA)

A variety of different investment options are available for people in India in the form of Bank,
Gold, Real estate, Post services, Mutual Funds & much more. Investors are always investing
their money with the different types of purpose and objectives such as Profit, Security,
Appreciation, Income stability. The author in this paper selected a sample size of 60 salaried
employees in Pune and conducted a survey through questionnaire.

The author chose 12 investment options and inquired the 60 salaried employees about their
interested area to invest. Chi-square test is used as one of the statistical tools in the study.
One of his hypotheses is –
“There is no significant relationship between the Gender and the Investment awareness level”.
The calculated Chi-squared score (1.2569) is less than the 0.05 level significance (3.841). So,
Null hypothesis is accepted.

After the analysis & interpretation of data by the researcher it is concluded that Investors are
very well aware about investment avenues that are available in Pune , India but still investors are
preferring to invest in their money in bank deposit, real estate . The data analysis of research
reveals that the safety is concerned as important factor while doing investment, so remaining
avenues are less found less considerable while doing investment by investors.
(Prof. Sanket L.Charkha D. J., 2018)

AN EXPLORATORY STUDY OF INVESTMENT BEHAVIOUR OF INVESTORS

The financial industry plays a significant role in Mainland Chinese and Hong Kong economies
and has aroused increasing managerial and academic interests in recent decades. Individual
investors are becoming more cautious towards financial investment which makes it difficult for
financial service providers to formulate marketing strategies after experiencing several financial
crises. This exploratory study aims at filling the identified research gap by proposing linear
regression models of the financial investment behavior of Mainland Chinese and Hong Kong
investors. Based on the results of regression analyses, (I) there exist significant differences in
financial investment behavior between Mainland Chinese and Hong Kong investors, and (II)
investors’ psychological, sociological and demographic factors are significant predictors of their
investment behavior/preferences.
The financial industry plays a significant role in the Mainland China and Hong Kong economies
and has aroused increasing managerial and academic interest in recent decades. Unfortunately,
after the financial crisis of 2008 and the global crisis of 2009, investors are becoming more
cautious towards investments, especially in high-risk financial products. Furthermore, Hong
Kong is the top offshore investment destination for the Mainland Chinese investors. Investors in
Hong Kong are mainly mixed, with Mainland Chinese investors and local investors having
different characteristics. These make it more difficult for financial service providers to
understand customers’ financial investment behavior and investment preferences.
(Mark KY Mak, 2017)

AN EXAMINATION OF INDIAN MUTUAL FUND INVESTOR’S AWARENESS

This “Indian Mutual Fund Investor’s Awareness Study” uses a behavioral science lens to
understand the reasons why the Indian investor has a sub-optimal engagement with Mutual
Funds (MFs), despite the fact that they are one of the most attractive investment avenues
available for long-term wealth creation.
Specifically, the study aims to improve retail penetration in Indian MFs by understanding the:
  Quality of awareness among potential and existing investors.
 Barriers to engaging with mutual funds and the role of regulations.
 Role of communication and intermediaries in influencing decisions related to investment
in mutual funds.

In order to address these primary objectives, this study synthesizes and integrates our
quantitative and qualitative data, with our qualitative observations, to gain valuable insights into
the emotional journey of an investor.

This investor behavior study confirms much of what we already know: people have difficulty
analyzing and synthesizing information, are vulnerable to biases and heuristics that lead to
predictably suboptimal decision-making, overestimate their own expertise, and ultimately behave
irrationally (albeit in predictable ways).

The mutual fund industry remains critical for retirement savings and long-term economic
growth, which is why we would like to recommend that the Government of India follow suit and
establish their own behavioral insights team to investigate policy challenges from this unique
lens. SEBI has a unique opportunity to lead this charge in India of evidence and behavioral-based
research in policymaking.
(Benis Kumar Moses, 2018)

INDIVIDUAL INVESTMENT DECISION BEHAVIORS BASED ON DEMOGRAPHIC

CHARACTERISTICS: CASE FROM CHINA

This paper uses survey data from about 9,000 individual investors across China to explore the
predictability of decision behaviors by studying demographic characteristics that are relatively
easy to obtain. After applying Pearson’s chi-squared test, Spearman rank correlation test, and
several data mining methods, we verified that demographic characteristics are closely linked to
decision behaviors, and it would be an economical and feasible solution for financial
organizations to build initial behavioral prediction models especially when investors’ behavioral
data are insufficient.
The author classified the variables in study into two groups –

1. Demographic Characteristic (DC) variables.

2. Investment Behavior (IB) variables.

A questionnaire was designed in accordance with DC and IB variables. Some questions for
measuring the validity and consistency of the questionnaire are also included. The questionnaire
could be completed within about 15 minutes.
In order to ensure the accuracy of the results and considering the nonlinear, discontinuous and
uncertain relationship among variables, Pearson’s chi-squared test, Spearman rank correlation
test and several data mining methods are applied in subsequent analyses.

This paper presents a new idea: analyze the capability to predict investment behaviors based on
certain demographic characteristics, and verify the feasibility and effectiveness of building
behavior prediction models based on these characteristics.
(Qiujun Lan, 2018)

A RESEARCH ON INVESTMENT BEHAVIOR OF CORPORATE AND INDIVIDUAL

INVESTORS FROM SOUTHERN INDIA
This study aims to identify the factors affecting investment behavior of the corporate and
individual investors, and also to make a comparative study of the investment behavior of both the
corporate and individual investors from Southern India. The study was primarily based on the
perception of the investors and the data was collected from 576 investors (304 individual
investors and 272 corporate investors) from four major cities of South India namely; Bangalore,
Hyderabad, Chennai and Visakhapatnam using questionnaire method. Researcher has identified
total four factors which successfully represent the investment behavior of the corporate and
individual investors.
These factors are mainly –

1. Investors related factors.

2. Market or environment related factor.
3. Investment related factors.
4. Company specific factors.

Further, it was found from the comparative analysis of the corporate and individual investors,
that there is a significant difference in the investment behavior of the corporate and individual
investors from Southern India.

RESEARCH GAP:
There is a lack of studies conducted where the behavior of corporate investors has been
measured, corporate investors are the major investors of the stock market and can easily
influence the trend of stock prices. Hence, it is important to conduct the study on measuring the
behavior of corporate investors. The literature does not contribute much towards the comparative
study of individual and corporate investors. As there is a difference in these two categories of
investors hence, there is a need to compare the factors which affect the behavior of individual
and corporate investors. The studies are mainly limited to the investors of north India, or
Maharashtra, South Indian investors’ behavior has not been studied much.
(Ashish Dewan, 2019)

ANALYSIS OF INVESTMENT BEHAVIOR OF INDIVIDUAL INVESTORS OF STOCK

MARKET: A STUDY IN SELECTED DISTRICTS OF WEST BENGAL
The study is an analysis of investment behavior of individual investors of stock market to
enquire whether there is any impact of three independent variables namely Demographic Factors,
Awareness and Perceived Risk Attitude on only one dependent variable Investment Behavior.
The study has collected primary data from 400 randomly selected individual investors of stock
market from various districts of West Bengal using a structured questionnaire on five point
Likert scale. The study finds that the awareness levels of the individual investors are on moderate
level and financial awareness is more than social learning. Perceived Risk Attitude is mainly
guided by Affect rather than Cognition. The analysis indicate that Demographic Factors,
Awareness and Perceived Risk Attitude significantly influence Investment Behavior of
individual investors of stock market.

Variables under Study – Demographic Factors, Awareness and Perceived Risk Attitude have
been considered as independent variables and Investment Behavior has been considered as
dependent variable.

1. Age has significant effect on Prospects Bias and Herding Bias.

2. Occupation has significant impact on Markets Bias and Herding Bias.
3. Annual income has significant influence on Prospects Bias, Markets Bias and Herding
Bias only.
4. Experience has significant effect on Markets Bias only.
5. Objective of making investment has significant effect on Prospects Bias only.

RESEARCH GAP:
The study can be extended by –
1) Considering institutional investors.
2) Using larger and diversified sample.
3) Considering other market.
(Arup Kumar Sarkar, 2018)

ANALYSIS OF INVESTMENT BEHAVIOR WITH REFERENCE TO RETAIL

INVESTORS OF RANCHI IN INDIAN STOCK MARKET
India having one of the highest savings rate in the world, city like Ranchi has potential to
increase its contribution in the Indian capital market. However, it is important to study thought
processes and perceptions, challenges and bottlenecks i.e., investing behavior of the investors of
this city. The Study is confined to the retail investors based at Ranchi (India). Mostly trading
houses have Depository Participant (DP) accounts along with trading accounts. However, some
other organizations like banks also provide DP account facility. Therefore, the study although
mostly considers the retail investors trading through trading houses; it has also been extended to
include retail investors of Indian stock market who don‘t trade through trading houses. On the
basis of holistic behavior of the investors, risk tolerant score of each investor has been
ascertained, clustered in three categories - Investors with High Risk Appetite, Investors with
Moderate Risk Appetite and Investors with Low Risk Appetite; and suggestions are given to
stretch the depth of investment. Moreover, in order to elongate the incidence of retail investment
in Indian stock market, non-investors have also been studied to find why they don‘t go for
investing on equity.
The pattern of investment by the respondents (investors) is influenced by the risk involved in the
avenues of investment.

The highest percentage of investors (53.8%) is in the cluster of low risk tolerance capacity (4.55-
39.55), 30% of the investors have moderate risk tolerance capacity (40-59.55) and 16.2% of the
investors have high risk tolerance capacity (60-90.91).

Demographic factors such as income level, occupation, no. of family members and age-group of
the respondents significantly impact their risk appetite scores but Demographic Factors such as
educational qualification and gender of the respondents do not significantly impact their risk
tolerance scores.

RESEARCH GAP:

 It will have interesting result if research takes place in similar fashion with investors and
non-investors based in the outskirt of Ranchi or any suburban areas India where
penetration is almost nil.
 With a broadened time frame, stratified random sampling may be thought of doing
research in future.
 Research needs to be there in getting data in rating scale on the facets identified so that
the same can be used for cluster analysis and designing a 178 model by mapping the risk
appetite scores with clusters from cluster analysis.
(Kumari, 2017)

FACTORS AFFECTING INVESTMENT BEHAVIOUR AMONG YOUNG

PROFESSIONALS
Investment behavior is related to activities of individual investors regarding searching,
evaluating, acquiring, reviewing the investment products and if necessary, disposing such
investment products. Investment behavior reveals how the individual investor allocates the
surplus financial resources to various instruments available. This paper analyzes the trading or
investing behavior of professionals who are in the age bracket of 25 years to 35 years. These
young investors generally take trading decisions based on their self-perceived competence but
sometimes with the help of professional advisors too. Their investment objective also differs
from financial stability to additional income and so on. This paper attempts to find out the factors
responsible for increased investing activities among young professionals. The present has
examined the trading behavior of young investors by using a structured questionnaire. A survey
of 200 young investors in the age bracket of 25 years to 35 years across Lucknow region was
undertaken to collect primary data. Based on the findings of the survey, the study examines the
factor affecting the investment behavior in the stock market. On the basis of age, income and
gender it can be concluded that for young investors’ investment is independent of age, income
and gender.

HYPOTHESIS
H1: Investment is Independent of age.
H2: Investment is Independent of gender.
H3: Investment is Independent of income.

This study has helped in throwing light on factors that creates an impact on investing activity of
young professionals. Also this study has revealed that investing activity of young professionals is
independent of gender but dependent on Income and Age. According to the study it can be
inferred that majority of investors invest for growth and additional income and the major factor
that guides their investment decision is risk factor which means that investors mostly are risk
averse.

RESEARCH GAP:

 Not much work is done on this age group of investors. Hence, it leaves scope for future
research.
 The study has been conducted in Lucknow. So, the result cannot be generalized for other
cities. This same study can be conducted for various other cities as well.
 As the study has been conducted by using structured questionnaire the response can be
biased. Therefore, the same study can be conducted by using disguised questionnaire
also.
(Ms. Lubna Ansari, 2013)
 A STUDY ON THE FACTORS INFLUENCING INVESTORS DECISION IN
INVESTING IN EQUITY SHARES IN JAIPUR AND MORADABAD WITH SPECIAL
REFERENCE TO GENDER
The present study tries to find out the factors that have major influence on the share investment
decisions of a sample of 100 investors in Moradabad city of Uttar Pradesh. Revolution in the
finance industry is brought about through the advent and evolution of behavioral finance.
Investors hardly act rationally in taking decisions while investing. Investors simply react on the
available information possessed by them and react accordingly. Lots of consideration is required
to be dealt with before investing in the equity market. Ratio analysis is required to be considered.
Technical and financial analysis of the company along with the fundamental analysis of the
economy is to be taken into account while investing in the capital market. The present paper tries
to find out the perception of male and female investors regarding various considerations to be
kept in mind while investing in the equity market. The paper tries to cram the attitude of male
and female investors towards variety of investment alternatives. The researchers have selected 60
male investors and 40 female investors from Jaipur and Moradabad cities. The study uses
independent t-test, mean scores to test the hypothesis. The paper concludes that investors should
as far as possible try to make fundamental, technical and financial analysis before investing in
the shares. Investors whether male or female, should look in all avenues while investing their
funds in different assets. Investors should look in all avenues while investing their funds. Some
investments are risky and some are not, so as per the age of investors they should decide about
risky or less risky investments.

There are lots of considerations while investing such as tax planning, future needs, safety of
investments, recurring income, etc. So as per the requirement of individual investor, he or she
should consider these variables.

RESEARCH GAP:
The further research can be undertaken on other investment avenues and other variables can be
taken such as occupation, age, risk tolerance capacity, education, etc.
(Jeet Singh, 2016)

A Study of Investment Behavior of Middle Income Group towards Different Kinds of

Investment Avenues
Content:-
The journal is about the investment behavior of middle income groups. Because of indian
economy compromises of 50% people belong to middle and lower class their savings and
investment pattern would be influenced by future needs.The study was conducted to get the
answers to few important questions about preferences of the investment instrument as real
estate, bullion, precious stones, money market and capital market etc. This study observed that
the above stated income classes were interested in investing in government securities, Real
estate, Gold, and postal deposits. These income classes were more concerned about the tax
benefits that they would get by investing in these securities or investment avenues.
(Megha Goyal, 2014)

A Study of Investment Preferences of Investors

Content:-
This study explores association of demographic characteristics with the investment preferences
of the individual investors. In this study, survey approach has been adopted using a structured
questionnaire with sample size of 229 respondents. This journal is aimed to study the impact of
qualification on investment opportunities and also to identify the most preferred and least
preferred investment options available to people. The study identifies the problems like
conservatism and lack of awareness among the investors of various investment avenues. It
identified the most desirable investment option and least investment options, fixed deposit is the
most desirable and least desirable is the capital market debt instruments. It also found out
qualified people explored more investment options than normal people.
(Chaurasia, 2017)

A STUDY ON INVESTORS BEHAVIOUR OVER INVESTMENT OPTIONS

Content:-
Investment refers to the commitment of funds at present, in anticipation of some positive rate of
return in future. An investment is confronted with array of investment avenues like Equity share,
Mutual fund, Public Provident Fund, Bank Deposits/ FD, Gold/Silver, Insurance, Real Estate,
National Pension scheme. Among all investment, investment in banks deposits, Public Provident
fund are safest and most preferred by individuals and in equity proportionately are most
profitable. people who are financially literate and reluctant to buy a financial products, because
they do not understand where to invest and what parameters to consider while investing.
(Dr.T.Sisili, 2018)

A Study on Investment Preference

The present study identifies the preferred investment avenues among the individual investments
using self-assessment test. The study is based on primary sources of data which are collected by
the distribution of a close ended questionnaire. The data has been analyzed by using percentages
and chi-square test. This journal aimed at identifying the behavior of the respondents towards
investment avenues. From the chi-square test, the researcher found that there is no relationship
between gender & investment avenues and there is significant relationship between income &
investment avenues. Out of above respondents found that mostly respondents choose fixed
deposit as it a most safely investment. While selecting investment avenues, mostly respondents
have objective to meet the needs of family in future.
(Jain, 2017)
A Study of Investment Awareness and Patterns of Savings and Investments by Rural
Investors
Content:-
Investing money has become a very complex task because of the huge number of savings and
investment companies and products offered by them, terms and conditions of investments, and
prevalent complex rules and regulations. Most of the investors, particularly rural investors, are
found to be unaware about investment avenues and rules and regulations.The investment
preference order of the respondents indicated that they wished to park their investments in 'safe'
options only. Bank deposits, gold and jewelry, real estate were popular investment avenues for a
majority of the investors.
(Lokhande, 2015)

A Study on indian investors investments & analysis of their behaviours on various

investment avenues in india
Content:-
Investors perception will provide a way to accurately measure how the investors think about the
products and services offered by the company. This sudy is to identify the type of financial
instrument they would prefer to invest,the duration of which they would keep their money to be
invested, how they would get the information about the investment avenue. This study
concentrated on the needs of current and future investors, investors preferences about different
investment avenues were related to their occupation. This journal stated thet individual investors
preferred the risk free returns.
(mondal, 2018)

A Study on People’s Preferences in Investment Behavior

Content:-
There are a lot of investment choices and one must select the most appropriate one. The person
dealing with the planning must know all the various investment choices and how these can be
chosen for the purpose of attaining the overall objectives. This study examined on people’s
choice in investment avenues. Data were collected using structured questionnaires. Data were
analyzed using descriptive statistics and chi-square technique. Respondents are medium aware
about various investment choices but they do not know aware about stock market, equity, bound
and debentures. All the age groups give more important to invest in Insurance, NSC, PPF and
bank deposit. Income level of a respondent is an impotent factor which affects portfolio of the
respondent. Middle age group, Lower income level groups respondents are preferred to invest in
Insurance, NSC, PPF and bank deposit rather than any other investment avenues.
(N. Geetha, 2011)

Behaviour of Investors Towards Investment

Content:-
The investors prefer to invest in different investment options according to their need. The present
study focuses on the investment behavior of the investors and this study will also help in gaining
a better understanding of what an investor look for in investment avenues. The result reveals that
there are various investment options available in the market and people preferred to invest in
different investment options with some objective behind investment. The professional investors
like doctors, lawyers, academicians, bankers and others prefer to invest in very safe and secure
type of investment avenues. Each professional investor has different investment strategy
regarding their preferred investment avenues. The various investment avenues available in the
market are equity, preference, debentures, precious metal, gold, silver, real state, life insurance,
public provident fund, mutual fund, fixed deposits, post office savings & many more
(Saloni Raheja, 2013)

An Empirical Study of Indian Individual Investors’ Behavior

Content:-
This paper while discussing the characteristics of the Indian individual investors along makes an
attempt to discover the relationship between a dependent variable i.e., Risk Tolerance level and
independent variables such as Age, Gender of an individual investor on the basis of the survey.
Indian investors are high income, well educated, salaried, independent in making investment
decisions and conservative investors. From the empirical study it was found that irrespective of
gender, most of the investors (41%) are found have low risk tolerance level and many others
(34%) have high risk tolerance level rather than moderate risk tolerance level. It is also found
that there is a strong negative correlation between Age and Risk tolerance level of the investor.
The objective of investment was either capital appreciation or balance of capital appreciation and
current income. Investors prefer to park their funds in avenues like PPF/FD/Bonds next to
Equities and Mutual Funds Scheme. The individual investor still prefers to invest in financial
products which give risk free returns. This confirms that Indian investors even if they are of high
income, well educated, salaried, independent are conservative investors prefer to play safe.
(Sultana, 2010)

Investors’ Behavior and Preference: A Case Study of Indian Stock Market

Content:-
The main objective of this study was to explore the individual investors’ investment preference
i.e., utilitarian or value-expressive. The results show that the individual investors at Indian stock
exchange, in general, are more value-expressive than utilitarian. Their investment decisions are
affected by many behavioral biases as well as with certain demographic factors. The pattern of
respondents indicates that young investors, i.e., age below 40 years, form the major section of
Indian stock market. Most of the respondents were not having equity training which indicates the
unawareness of indian individual investor towards fundamentals of investing.
(Kumar, 2016)

A Study on Investment Inclination of Women Investors towards Different Avenues of

Collateral in Rudrapur purview, Uttarakhand

Content
This study is focused on the analysis of women investment inclination on the priority of
investment in different avenues and the demographic factors which influenced the investment
decision of women towards financial instruments with special reference to Rudhrapur purview. It
describes how women are playing crucial role in choice of investment and change in status of
women from past few decades. The demographic factors are clearly mentioned and data is gather
accordingly, Chi square test is conducted to show the relationship among annual income, annual
saving and proportion of respondent’s income. It concludes that women have become
independent and are in better position to invest on their own and to know how to invest based on
their risk class, how much to invest, where to invest and when to invest.
(Sakshi Bedi, 2018)

Analysis of Investment Pattern of Different Class of People

Content
This paper tries to review the investment pattern of different class of people based on previous
research. This paper focus on the investment pattern of working women, salaried employees, and
teachers. Data were collected from various journals, websites and research articles. The journal
concludes that the investment behavior of one class of people is different from another class in
the form of risk perception level and also states that people in India are still depending on
traditional investment avenues. Conducting several investor awareness programmes can remove
fear in the minds of potential investors.
(Abhinandan, 2019)

Investor Perception about Systematic Investment Plan (SIP)

Plan: An Alternative Investment Strategy
Content
Systematic investment plan has emerged at alternative investment plan for larger number of
investors interested in high returns but less risk with the investments in installments. The purpose
of the study is to find out the motivating factor to invest in systematic investment plan and the
problem in this scheme. Sample of 100 respondents has been taken for the purpose of the study.
Different hypothesis have been formed to find out the relationship between SIP and annual
income, occupation, expectation about return. Chi-square test has been conducted and found that
significant relationship between occupation and SIP amount of respondent exists. It concludes
that SIP hedges the investor from market stability and derives maximum as the investment is
done at regular basis irrespective of market conditions. SIP also suffers from various
disadvantages but it still seems to be one the best investment option available to a long term
investor especially first time investors, salaried people etc.
(Anichuddin, 2016)

Investors Attitude towards Investment Avenues

Content
In this paper an attempt has been made to find out main objective of investors towards making
investments and to assess investors’ attitude towards the investment avenues. The demographic
variables and objectives of the investors have been obtained from the respondents and
relationship between these variables and objectives has been computed. The attitude of the
respondents towards the select investment avenues has been ranked. The risks have been
classified and statistical tools such as percentage analysis and garret ranking are applied for
analysis of data. The paper concludes that people in rural and urban areas still prefer bank
deposits. The results indicate that investors prefer to invest only in safer avenues. Family culture
plays a dominant role in investment decisions, insurance schemes and post office instruments are
getting increased attention. Most of the respondents have not preferred UTI and mutual funds,
hence government should take appropriate steps to persuade the investors to invest in schemes.
(Selvi, 2015)

A Study of Customers’ Preference towards Investment in Equity Shares and Mutual Funds
Content
The main purpose of this research paper is to find investors’ preference for various investment
alternatives particularly shares and mutual funds. The required level of return and the risk
tolerance level decide the choice of the investor. Hypotheses were framed for the study the
investors preference to shares, mutual funds, return, risk, availing tax benefit and other
investment alternatives. Descriptive research design has been used to study the characteristics of
individuals and z-test, chi-square test, percentage analysis and ranking method were the
statistical tools used. The paper concludes that real estate and gold are most preferred investment
alternatives. Investors prefer liquidity and return as an important criteria for investment
consideration hence mutual fund and equity share are also considered as good investment
alternatives.
(Kumar, 2013)
Insights into Awareness level and Investment Behaviour of Salaried Individuals Towards
Financial Products
Content
This paper examines the awareness level and investment behavior of salaried individuals towards
financial products. Educational levels, awareness about the financial system, age of investors
were found to be significant factors while making investment decisions. The results of the study
shows that higher income group shows relatively high preference towards investment in share
market, conversely lower and average income group shows keen preference towards insurance
and banks as the most preferred investment avenues. Overall results suggest that people must be
made aware about new investment opportunities available in the market.
(Bhushan, 2014)
A Study On Investors’ Preference Towards Equity in Ahmedabad
Content
The objective is to find out which age groups are actively participating in stock market, people’s
perception and preference towards equity market in Ahmedabad. The research was done using
primary data through questionnaire. It has been found that 28% of people invest in equity market
with investment range of 1,00,000 and 10,00,000. Small investors which comprise of 38% of the
sample are willing to trade in intraday type of transaction. Another fruitful finding from the
survey is that small investors are willing to trade for less than 3 years as they are more interested
in short term gains.
(Modi, 2016)
Perception of Investors towards the Investment Pattern on Different Investment Avenues
Content
In this paper, researcher wants to check the earlier research work based on investors among the
investment avenues to get an idea about the investment pattern. The researcher did a lot of
literature work which are based on customer perception, factors influencing decision making
process of investors, investment strategies as motives and styles by different needs, investors’
attitude towards investment avenues, investment performance of government employees,
perception towards stock market and many other papers including different researches. Research
found that most of the investors preferred bank deposit because more respondents invested for
purchasing home and long term growth, but most of the investors are not aware of investing their
money in mutual funds.
(Muthumeenakshi, 2017)
A Study on Investors Perception towards Mutual Fund Investments
(With Special Reference to Alwar City)
Content
The objective of research is to study the investors responsiveness and liking in mutual fund
schemes, factors influencing in selecting mutual funds, level of satisfaction on the investment of
mutual fund investors and problems faced by mutual fund investors. Research is done on 5
mutual fund organization which accommodates 750 investors among them. It is found, majorities
belongs to age group of 20-30 years and are either undergraduates or business people. Majority
prefer to invest in bank deposits, private sector mutual fund companies and prefer open ended
mutual fund schemes while most of them are unaware about the market value of their mutual
fund investments.
(Bindal, Gupta, & Dubey, 2019)

A Study of Investment Behaviour of Households in Virudhunagar District

Content
In developing country like India, household savings is the major source of capital for economic
activities. The study helps to understand the knowledge and behavior of households, the major
provider of funds to economic activities of the country. The data has been collected from both
primary and secondary sources by conveyance sampling method and a Chi-square analysis is
made to find the association between socio economic factors of the respondents and influencing
factors towards their investment and it is found that there is significant relationship between the
education, monthly income, family income and influencing factors. The conclusion is households
prefer bank deposits mostly and dislike shares and mutual funds. Safety factor influence more on
investment decision of households.
(Selvakumar & Mahesh, 2015)

Arup Kumar Sarkar, D. T. (2018). Analysis of Investment Behaviour of Individual Investors of

Stock Market: A Study in Selected Districts of West Bengal. Pacific Business Review
International, 11.
Ashish Dewan, R. G. (2019). A Research on Investment Behavior of Corporate and Individual
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