ANNEXTURE

QUESTIONNAIRE

Dear participant, this survey is aimed to examine the impact of behavioral factors such as

Investor sentiments, herd behavior, over/under reaction, overconfidence bias on investment

decisions. And how financial literacy influence between them .This research is conducted by the

research scholar of Institute of Business Administration, Punjab University. It would not take

more than 5 minutes to fill out this survey. It is ensured that all the information provided in this

survey will be kept confidential and anonymous and will be used only for research purposes.

Your cooperation in this regard will be highly appreciated.

Please Tick the Right One:

Gender

1. Male 2. Female

Age

1. 20-24 years 2. 25-34 years 3. 35-44 years 4. Above 45 years

Qualification

1. High school 2. Bachelors 3.Masters 4. M. Phill

Keeping in the mind of your investment decisions, rate the question statements according to

the scale.

1=Strongly Agree, 2=Agree, 3=Neutral, 4=Disagree, 5=Strongly Disagree

Investor sentiments and investment decisions

I avoid investing in stocks that are not familiar to me 1 2 3 4 5

I buy stocks I heard about from a friend

I buy stocks from the company I am working from.

My current mood affects making my investment decision.

Feeling optimistic affect making my investment decision.

Feeling pessimistic affect making my investment decision. .

1=Strongly Agree, 2=Agree, 3=Neutral, 4=Disagree, 5=Strongly Disagree

Over confidence bias and investment decisions

I am aware of everything in the stock market 1 2 3 4 5

I have the needed expertise and skills to invest in stock

market.

I trust my data source

I have the ability to analyze the new information in the

market

I do trade my self

I am sufficiently aware of electronic trading

I keep the best stock in my portfolio

My opinion comes first when making the decision

1=Strongly Agree, 2=Agree, 3=Neutral, 4=Disagree, 5=Strongly Disagree

 Over under reaction behavior and investment decisions

I do react quickly to new information in the market 1 2 3 4 5

I rethink before making an investment decision when the

information source in unavailable

My reaction depend on availability of many sources for the

new data

My reaction depends on my analysis of the data

I rethink before making an investment decision when there is

a random information

1=Strongly Agree, 2=Agree, 3=Neutral, 4=Disagree, 5=Strongly disagree

Herd and investment decisions

I make my decision based on the majority of other investors 1 2 3 4 5

decisions

I make my decisions mainly based on the commercial paper

movements

I confidently take a decision different from majority of

investors in the market

Quick movement in the market does not affect my decision

1=Increase , 2=Decrease, 3=Stay the same , 4=None of these

Financial literacy on investment decisions

When an investor spreads his money among different assets, 1 2 3 4
does the risk of losing money

If the interest rate falls, what should happen to bond prices

If the interest rate rises, what should happen to bond prices

Buying a company stock usually provides a safer return than True False
a stock mutual fund

If you buy a 10-year bond, it means you cannot sell it after 5 True False
years without incurring a major penalty