ABSTRACT
The investment decision-making process of every individual is affected by many behavioral factors and this has been proven by many researchers in their various studies. Behavioral finance has given a name to these factors as behavioral biases of investors which may be different among the investors on several bases. The present study is an attempt to study mainly four behavioral biases i.e. Confirmation, Representative, Herding, and Familiarity biases of male and female individual investors in India. Data has been collected by sending structured questionnaires online and offline from 120 individual investors (60 male and 60 female) who are investing in the Indian stock market. In the questionnaire total of forty questions have were asked including the questions related to demographic profiles and behavioral biases of investment. For the data analysis purpose “ANOVA Two Factor with Replication” has been applied. The results of the study could be useful for both individual as well as the group investors because the study provides an insight into the behavioral biases of investors which become hurdles in their way of making correct investment decisions to increase their investment returns.
Key Words: Investment Behavior, Male and Female Investors, Confirmation, Representativeness, Herding and Familiarity Bias.
Received : 5th January 2019
Accepted : 25th January 2019
Published : 28th January 2019
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