International Research Journal of Commerce , Arts and Science

 ( Online- ISSN 2319 - 9202 )     New DOI : 10.32804/CASIRJ

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INDIAN INVESTOR: UTILITARIAN OR VALUE- EXPRESSIVE

    1 Author(s):  ROHIT KUMAR

Vol -  5, Issue- 7 ,         Page(s) : 22 - 32  (2014 ) DOI : https://doi.org/10.32804/CASIRJ

Abstract

This paper aims to identify the nature of Indian investor. It develops a modified questionnaire. The questionnaire includes two parts. Each part of the questionnaire contains fifteen questions. First part of questionnaire tries to identify the extent to which the respondents’ behaviour is value-expressive while the second part tries to identify the extent to which the respondents’ behaviour is utilitarian. The meaning of value-expressive characteristics and utilitarian characteristics can be understood by the following examples.

1. Factors influencing individual investors behaviour: An Empirical study of the UAE Financial Markets (Al-Tamini, Hussein A Hassan, University of Sharjah working paper, 2005)
2. Individual Investor Trading behaviour and the Competence Effect ( Abhijeet Chandra, The Journal of Behaviour Finance, 2009)
3. Availability: A Heuristics for Judging Frequency and Profitability, Cognitive Psychology  (Kehneman, Denial and Amos Tversky, 1973)
4. Prospect theory: An Analysis of Decision Under Risk (Kehneman, Denial and Amos Tversky, 1979)
5. `Does the stock market overreact?' ( The Journal of Finance De Bondt and Thaler,  1985)
6. Factors influencing Greek investor behaviour on the Athens Stock Exchange (A. A. Merikas, A. G. Merikas, Vozikis, and Prasad, 2000)
7. The Crowd: A Study of the Popular Mind, (Gustave le Bon, 1896)
8. Psychology of the Stock Market (Selden, 1912)

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