A study on relevance of demographic factors in investment decisions

Geetha, N.; Ramesh, M.

doi:10.15208/pieb.2012.02

Cited by 35 publications

(20 citation statements)

References 10 publications

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“…e socio-economic characteristics of investors (age, gender, marital status and educational quali cations) have statistically signi cant in uence on the investment decisions of investors in Nigeria. is con rms the studies for countries like Pakistan (Kaleem et al, 2009), India (Geetha & Ramesh, 2012), and Rajasthan ( Jain & Mandot, 2012). 5.…”

supporting

confidence: 77%

Factors Influencing Investment Decisions in Capital Market: a Study of Individual Investors in Nigeria

Obamuyi

2013

OMEE

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The study seeks to determine the main factors influencing investment decisions of investors and how these factors are related to the investors’ socio-economic characteristics in the Nigerian Capital Market. The study covers individual investors using convenient sampling method to obtain information from 297 respondents through a modified questionnaire developed by Al-Tamimi (2005). Independent t- test, Analysis of variance (ANOVA) and post hoc tests were employed. The results indicate that the five most influencing factors on investment decisions of investors in Nigeria are past performance of the company’s stock, expected stock split/capital increases/bonus, dividend policy, expected corporate earnings and get-rich-quick. Also, the five least influencing factors include religions, rumors, loyalty to the company’s products/services, opinions of members of the family and expected losses in other investments. The study finds that the socio-economic characteristics of investors (age, gender, marital status and educational qualifications) statistically and significantly influenced the investment decisions of investors in Nigeria. With regard to the past performance of the company’s stock as an assessing factor, groups of investors statistically differed in factor assessment, as segments of a group considered the factor as the most important/unimportant. Since the identified most influencing factors are usually classified as wealth maximising factors, the study recommends that the investment climate and the market environment be made friendly and conducive to attract investors by creatively developing programmes and policies that impact on investors’ decisions in order to maximise the value of the firms and enhance the wealth of the investors. The market players should re-organise the market and implement accommodating policies which will eliminate fraud and resolve the leadership crisis in the market.

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confidence: 77%

Factors Influencing Investment Decisions in Capital Market: a Study of Individual Investors in Nigeria

Obamuyi

2013

OMEE

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“…More studies revealing the significant relevance of these sociological factors, including education level, income level and marital status, in investment decisions and investor behaviour can be found in the literature. 43,44 With the support of the literature review, these three attributes, income level, education level and marital status, are considered in this study. Table 1 summarizes all the psychological, sociological and demographic factors and attributes of behavioural finance considered in this study.…”

Section: Key Attributes Influencing Financial Investment Behaviourmentioning

confidence: 99%

An exploratory study of investment behaviour of investors

Mak¹,

2017

International Journal of Engineering Business Management

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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. Prior research has suggested that financial investment behaviour would be affected by various factors, including the demographic characteristics of individuals; however, they seldom study the differences in financial investment behaviour between Mainland Chinese and Hong Kong investors or provide an easy-to-use approach for practical usage. This exploratory study aims at filling the identified research gap by proposing linear regression models of the financial investment behaviour of Mainland Chinese and Hong Kong investors. Based on the results of regression analyses, (i) there exist significant differences in financial investment behaviour between Mainland Chinese and Hong Kong investors, and (ii) investors' psychological, sociological and demographic factors are significant predictors of their investment behaviour/preferences. Thus, financial service providers are able to predict the investment behaviour/preference of its customers and formulate marketing and strategic decisions, such as customizing the financial investment portfolio of customers on the basis of regression models built.

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“…Age has been stated, in many research studies, to have a significant positive relationship with herding behaviour of investors (Geetha & Ramesh, 2012;Korniotis & Kumar, 2013;Kumar & Goyal, 2016;Sultana & Butterfield, 2010). Age affects the risk taking attitude, and age has positive relation with risk tolerance (Wang & Hanna, 1997) while, risk taking attitude has negative relation with herding, therefore, age has negative relation with herding.…”

Section: Age and Herding Behaviourmentioning

confidence: 99%

Demographic Factors and Herding Behaviour of Investors: Moderating Role of Islamic Religiosity

Sabir

Javed

Hameed

et al. 2020

RAMSS

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Investors indulge in biases while making investment decision because investment decision making in stock market is a difficult process. One of the factors that affect risk taking behaviour of individual investors is Demographic factor. However, little work has been done to investigate the effect of demographic factors on herding behaviour of individual investors of Pakistan stock exchange. Therefore, the ultimate aim of this study is to highlight the role of the effect of demographic factors on herding behavior of investors with moderating role of Islamic religiosity. Quantitative research method was employed and data collected was collected from 166 individual investors by using survey questionnaires. Convenience sampling method was used to collect the data. Partial Least Squares analysis was conducted to test the hypotheses. The findings of this study directed that Islamic religiosity moderate the relationship of demographic factors with herding behaviour. This study is contributed a new empirical insights on behaviour of Pakistan stock market’s investors, therefore the results of this study have implications for policy makers of Pakistan stock exchange (PSX) while they making the strategies related to investment.

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A study on relevance of demographic factors in investment decisions

Cited by 35 publications

References 10 publications

Factors Influencing Investment Decisions in Capital Market: a Study of Individual Investors in Nigeria

Factors Influencing Investment Decisions in Capital Market: a Study of Individual Investors in Nigeria

An exploratory study of investment behaviour of investors

Demographic Factors and Herding Behaviour of Investors: Moderating Role of Islamic Religiosity

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