La toma de decisiones en el complejo mercado de valores es una tarea exigente dada la enorme cantidad de información disponible y la amplia gama de técnicas de toma de decisiones disponibles. La educación financiera de los inversores juega un papel destacado para influir en su proceso de toma de decisiones. Aunque el mercado de valores indio es el tercero más grande de Asia, solo alrededor del 3% de sus hogares invierten en mercados de valores. El nivel de educación financiera del inversor indio debe evaluarse para que haya una mayor participación en el mercado de valores y se obtengan mayores rendimientos. Este estudio tiene como objetivo determinar el efecto moderador de la educación financiera en la relación entre las herramientas de toma de decisiones y los rendimientos de las acciones obtenidos en el mercado secundario de acciones de la India. Las herramientas de toma de decisiones incluyen el análisis fundamental: (i) análisis económico, (ii) análisis de la industria, (iii) análisis de la empresa, (iv) análisis técnico y (v) recomendación deasesores. Los datos se recopilaron a través del método de encuesta de cuestionario y a través de una muestra válida de 436 cuestionarios, se probó la importancia del efecto moderador. Usando el complemento Process Macro en SPSS, se realizó el análisis de moderación. Los resultados revelan que la educación financiera solamente moderó la relación entre el análisis económico y los rendimientos de las acciones.
Decision-making in an unfamiliar environment like the stock market is a difficult task, particularly given the immense amount of information and peer pressure. This study aims to analyze the influence of investors’ personality, assessed using the Big Five personality model, on investors’ decision-making in the Indian secondary equity market. Indian secondary equity investors in the city of Chennai were selected as the study population, and data was gathered from a sample of 436 investors using the questionnaire survey method. A Pearson correlation analysis was conducted to study the relationships between investors’ decision-making tools and personality dimensions, and significant correlation relationships were identified. Multiple linear regression was then used to analyze the linear relationship between the returns earned from equity investment and the personality dimensions and decision-making tools, as well as several demographics and financials. The results of the study could help investors better understand their equity decision-making in terms of the influence of their personality and guide them to adopt appropriate decision-making tools to increase their equity returns. Financial advisors could also benefit from this study as it would allow them to correlate their clients’ personalities and decision-making tools and suggest the most appropriate investment strategies.
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