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The Existence Of Behavioural Factors Among Individual Investors For Investment Decision In Stock Market: Evidence From Indian Stock Market

Global Journal of Research in Management

Volume 6 Issue 1

Published: 2016
Author(s) Name: Swati Mehta, Jaydip Chaudhari | Author(s) Affiliation: Prof.,V.B. Shah Inst of Mgt,Amroli,Surat,Gujarat,India.Prof,Dept of Buss.Industrial Mgt,VNSGU
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Abstract

Generally classical economics & financial theories consider people to be rational. CAPM, EHM etc. theories are also based on this assumption. But so many times, this assumption has been challenged. After looking anomalies in financial market, classical theories are put under the challenge for assumption of rationality. Behavior finance integrates economic principles with psychological influences of human behavior in the investment decision. The main purpose of study is to explore which behavioral factors influencing individual investors decision at Indian stock market. This study also tries to find out the correlation between these behavior factors and investment performance. Study also finds out correlation between behavior factors and investment decision & investment strategies. This research covers certain factors like representativeness, overconfidence, anchoring, gamblers fallacy, hot hand fallacy, regret, cognitive bias, herding, etc. Primary data for analysis was gathered by preparing questionnaire & distributing among investors. Result obtained by covering sample of 60 respondents.

Keywords: Behaviour Finance, Investment Decision, Indian Stock Market (BSE and NSE)

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