DOMBIVLI SHIKSHAN PRASARAK MANDAL’S K.V.

PENDHARKAR
COLLEGE OF ARTS, COMMERCE AND SCIENCE DOMBIVLI (E)
(AUTONOMUS)
TOPIC NAME: A STUDY ON INVESTORS PERCEPTION TOWARDS
DIFFERENT INVESTMENT AVENUES.
ASSIGNMENT MADE BY: ….
GUIDE BY: Ms PRAMILA YADAV
CLASS: M.COM PART II (ADV ACCOUNTANCY)

INTRODUCTION:
1.1 What Is an investment?

An investment is an asset or item acquired with the goal of generating income or appreciation.
Appreciation refers to an Increase in the value of an asset over time. When Individual Purchases a
Good as an Investment, the intent is not to consume the good but rather to use it in the future to
create wealth.

An investment always concerns the outlay of some capital today-time, effort, money, or an asset-in
hopes of a greater payoff in the future than what was originally put in.

Let us take an example: an investor purchases a monetary asset will provide income in the future or
will later be sold at a higher price for a profit.

Personal financial planning is a comprehensive process of managing personal finances to achieve

financial goals. Thus, investors invest their money in different invest avenues to bring a balanced
approach between conflicting goals. Every individual person holds a unique financial position and
have specific needs and goals. Thus, choosing a basket of different avenues would aim to achieve the
fulfilment of set needs and goals at different life cycle stages of the investors. Every investor would
plan detailing the choice of investments to achieve the laid down financial goals (short, medium and
long term).

How an Investment Works?

Investing has a goal of generating income and increasing value over time. An investment can refer to
any mechanism used for generating future income. This includes Stocks(shares), Cryptocurrency
(digital currency), Mutual Fund, Fixed Deposits (FD’s), Public Provident Fund (PPF), Gold, Public Fund
Management systems (PFMS), Bonds and So on.

In general, any action that is taken in the hopes of raising future revenue can also be considered an
investment. Because investing is oriented towards the potential for future growth or income, there is
always a certain level of risk associated with an investment. An investment may not generate any
income, or may lose value over time. For example, it is also a possibility that you will invest in a
company that ends up going bankrupt or a project that fails to materialize.

The investment landscape can be extremely dynamic and ever-evolving. But those who take the
time to understand the basic principles and the different asset classes stand to gain significantly
over the long haul. The first step is learning to distinguish different types of investments and what
rung each occupies on the "Risk ladder."

How to Start Investing

There are many different avenues one can take when learning how to invest or where to start when
putting money aside. Here are some tips for getting started in investing:

 Do your own research. A common phrase used in the investing industry; it is important for
investors to understand the vehicles they are putting their money into. Whether it is a
single share of a well-established company or a risky alternative investment endeavour,
investors should do their homework in advance as opposed to relying on third-party (and
often biased) advice.
 Establish a personal spending plan. Before investing, individuals should consider their
ability to put money away. This includes ensuring they have enough capital to pay monthly
expenses and have already built up an emergency fund. As enticing as investing can be,
individuals should be mindful to meet their daily life obligations first.
  Understand liquidity restrictions. Some investors may be less liquid than others, meaning it
may be more difficult to sell. In some cases, an investment may be locked for a certain
period and cannot be liquidated. Though not necessary fine print, it's important to
understand whether certain investments can be bought or sold at any time.
 Research tax implications. On a similar note, though an investment can be bought or sold
at any time, it may be tax-adverse to do so. With unfavorable short-term capital gains tax
rates, investors should be mindful of strategies that extend beyond what product they hold
but what tax vehicle they put that investment in.
 Gauge your risk preference. As mentioned earlier, investing incurs risk. This means you may
end up with less money than what you started with. Investors uncomfortable with this idea
can (1) reduce the amount they invest to only what they are comfortable losing or (2)
explore ways to mitigate risk.
 Consult an adviser. Many financial professionals would be happy to provide their guidance,
let you know what they think about markets, and give you access to online platforms where
you can invest money.

OBJECTIVES
1. To study on the different types investment avenues research projects.
2. To study on the retail investors perception and behaviour towards the investment avenues.

3. To study on the better investment avenue for retail investor.

REVIEW OF LITERATURE
1. V.R.Palanivelu, K.Chandrakumar, March 2013 “A Study on Preferred Investment Avenues among
Salaried Peoples” The developing countries like India face the enormous task of finding sufficient
capital in their development efforts. Most of these countries find it difficult to get out of the vicious
circle of poverty of low income, low saving, low investment, low employment etc. With high capital
output ratio, India needs very high rates of investments to make a leap forward in her efforts of
attaining high levels of growth.

OBJECTIVES OF THE STUDY:

1. To study the investment preference among salaried people working in 2. different sectors in
Namakkal Taluk, Tamil Nadu, India. 3. To know the factor that influencing investment behavior of the
peoples.4. To analyze the investment pattern among the salaried investors. 5. To find the problems
facing by the investors.6. To know the mode of investments of the salaried respondents in various
investment avenues

Sample Size: 100

CONCLUSION:

The study on preferred investment choices has been undertaken with the objective, to analyze the
investment choice of salaried class in Namakkal Taluk, Tamil Nadu, India. Analysis of the study was
undertaken with the help of survey conducted. After analysis and interpretation of data it is
concluded that in Namakkal Taluk, Tamil Nadu, India respondents are medium aware about various
investment choices but they do not know aware about stock market, equity, bond and debentures.

2. Dr. S.N. Geethaa , Dr. K.Vimala ( 2014 ) “Perception of Household Individual Investors towards
Selected Financial Investment Avenues:” Investing is not a game, but a serious subject that can have
a major impact on investor’s future well being. Virtually everyone makes investments. Even if the
individual does select specific assets such as stock, mutual funds investment are still made through
participation in pension plan, and employee saving programme or through purchase of life insurance
or a home. Each of this investment has common characteristics such as potential return and the risk
you must bear. The future is uncertain, and you must determine how much risk you are willing to
bear since higher return is associated more risk. The individual be should start by specifying
investment goals. Once these goals are established, the individual should be aware of the mechanics
of investing and the environment in which investment decisions are made.

OBJECTIVES OF THE STUDY:

1. To find the influence of demographic variables with risk taking ability of respondent.

2. To identify the popular perception of individual investors towards selected investment avenues
and the predominant factors which influence individual to go for savings in that instrument.

CONCLUSION:

The study traces the investor’s perception relating to financial investment avenues. Earlier investors
stuck to one particular avenue, but there is a remarkable change in the investment avenues. This is
because of establishment of different financial institution, creditable source attractive return, good
capital appreciation, and tax concession From the investors point of view changes in demographic
factor such as age, income, education, and occupation have an influence in the investment avenue
preference.
3. Dr. K. RAVICHANDRAN (Sep 2008) “A study on Investors Preferences towards various investment
avenues in Capital Market with special reference to Derivatives” In India, generally all capital
market investment avenues are perceived to be risky by the investors. But the younger generation
investors are willing to invest in capital market instruments and that too very highly in Derivatives
segment. Even though the knowledge to the investors in the Derivative segment is not adequate,
they tend to take decisions with the help of the brokers or through their friends and were trying to
invest in this market. This study was undertaken to find out the awareness level of various capital
market instruments and also to find out their risk preference in various segments.

OBJECTIVES OF THE STUDY:

1 To Study the various investment avenues and the investors risk preference towards it.

2 To find out the general demographic factors of the investors dealing in capital market.

3 To find out the preference level of investors on various Capital Market instruments.

4 To find out the type of risk which are considered by the investors

5 To find out the ways through which the investors minimizes their risk

6 To find out the preferences of Investors in derivatives market.

Sample Size: 100

FINDINGS:

Most of the respondents (44%) are of the age group 31-40. 2. Majority of the respondents (65%) are
male. 3. Most of the respondents (38%) are graduates followed by Post graduates. 4. Most of the
respondents (29%) are entrepreneurs and Working Executives. 5. Most of the respondents (38%) are
having an Income level of 1- 5alcs followed by respondents having income level 5-10 lacs.

SUGGESTIONS:

1.From the demographic factors it is found most of the investors are of age 31-40 and are mostly
entrepreneurs & working executives, so the institutions dealing in capital market can take these
factors and develop suitable marketing activities for them and attract them to invest more in capital
markets. 2. Also it is found that the friends and relatives followed by brokers are the most influential
persons to pull the investors into the capital market. So the Institutions should develop some referral
programs and rewards for referrals, so that the existing investors can actively bring in more number
of investors. Also brokers should be duly acknowledged.

CONCLUSION:

In the current scenario, investing in stock markets is a major challenge ever for professionals.
Derivatives acts as a major tool for reducing the risk involved in investing in stock markets for getting
the best results out of it. The investors should be aware of the various hedging and speculation
strategies, which can be used for reducing their risk.

4. B.Thulasipriya (March 2015), “A Study on the Investment Preference of Government Employees

on Various Investment Avenues” Savings shapes the important part of the economy of any nation.
With the savings, in various options available to the people, the money acts as the driver for growth
of the country. Indian financial prospect too presents a plethora of avenues to the investors. Though
certainly not the best or deepest of markets in the world, it has reasonable options for an average
individual to invest his savings. Investors needs to invest and earn return on their idle resources and
generate a specified sum of money for a specific goal in life and make a provision for an uncertain
future. One of the important motives why one needs to invest wisely is to meet the cost of inflation.

OBJECTIVES OF THE STUDY:

1. To examine the factors considered by Government employees before investing.

2. To analyse the risk tolerance level of the Government employees.

3. To understand the type of financial instruments the Government employees would prefer to
invest.

4. To analyse the duration of investment the Government employees prefer.

5. To give a recommendations to the investors that where they should invest.

Sample Size: 500

FINDINGS:

Government employees belonging to the age group of above 50 years have high level of preference
for investment. Female Government employees have high level of preference for investment. 
Government employees who are single have high level of preference for investment. Government
employees, having 3 to 4 members as number of family members showed high preference for
investment.

SUGGESTIONS:

Investment avenues must attract the people to save from their income at times even by forgoing the
enjoyment of comforts and luxuries. Countries can never sustain development unless they have
adequate savings. The study reveals that the personal profiles of employees such as age, gender,
marital status, employment sector, annual family income and quantum of monthly savings have
direct influence over the employees in making investment decisions. Thus the financial institutions
must endeavour to design their avenues and promotional activities in such a way to attract the most
promising segment, based on personal profile of employees.

CONCLUSION:

This study confirms the earlier findings with regard to the relationship between Age and risk
tolerance levels of employees. The Present study has important implications for investment
managers as it has come out with certain interesting facets of an individual investor. The employees
still prefers to invest in financial products which give risk free returns. This confirms that Indian
investors even if they are of high income, well educated, salaried, independent are conservative
investors prefer to play safe. The investment product designers can design products which can cater
to the investors who are low risk tolerant and use TV as a marketing media as they seem to spend
long time watching.

5. Gaurav Agrawal & Dr. Mini Jain, 2013, “INVESTOR’S PREFERENCE TOWARDS MUTUAL FUND IN
COMPARISON TO OTHER INVESTMENT AVENUES” A Mutual Fund is a trust that pools the savings of
a number of investors who share a common financial goal. The money thus collected is invested by
the fund manager in different types of securities depending upon the objective of the scheme. These
could range from shares to debentures to money market instruments. The income earned through
these investments and the capital appreciations realized by the scheme are shared by its unit holders
in proportion to the number of units owned by them (pro - rata). Thus, a Mutual Fund is the most
suitable investment for the common man as it offers an opportunity to invest in a diversified,
professionally managed portfolio at a relatively low cost. Anybody with an investible surplus of as
little as a few thousand rupees can invest in Mutual Funds.

OBJECTIVES OF THE STUDY:

1.To find out the most preferred Investment Avenue of the investors of Mathura. 2.To analyze the
investor’s preference towards investment in mutual funds when other investment avenues are also
available in the market. 3. To find the main bases of different investment avenues, an investor thinks
before investing. 4. To find out the overall criterion of investors regarding investment.

Sample Size: 350

FINDINGS:

1.100% investors are aware of Banks & LIC, while 96% aware about Mutual Funds followed by 95%
for the Real Estate, 80% for the NSC 80%, 78% each for Gold & KVP, 76 % for PPF, 68% each for Equity
Shares & Bonds, 64% for MIS, 56% for Others, and the least aware is Commodity Market & Futures &
Options, which clearly indicates that Banks, LIC, Mutual Funds, Real Estate & NSC are the most
popular investment avenues among the investors of Mathura. 2. 46% of the investors’ overall and
main criterion for investment is Return followed by Tax Planning (26%), and Safety (22%). It implies
that investors generally invest their money for the return.

CONCLUSION:

After analyzing & interpreting the data received from the respondents, it may be concluded that
maximum investors are aware about Banks & LIC investment avenues only. More than 80% investors
are aware about Mutual Funds, Real Estate, and NSC investment avenues. Looking from different
perspective, it is also evident that the overall and main criterion of the investors regarding their
investments is Return. Therefore, on the basis of Safety, Bank & LIC are the most preferred avenues
of investment as it provides maximum safety. On the basis of Return, Real Estate & Mutual Funds are
the most preferred avenues of investment as it provides maximum return. Similarly, on the basis of
Tax Planning, Post Office Schemes & Mutual Funds are the most preferred avenues of investment.
Therefore, the preference is given to investment in Mutual Funds amidst availability of other
traditional investment avenues in the market.

6. P. BHANU SIREESHA & CH. SREE LAXMI, June (2013), “IMPACT OF DEMOGRAPHICS ON SELECT
INVESTMENT AVENUES” In economics, investment is related to saving and deferring consumption.
Investment is involved in many areas of the economy, such as business management and finance
whether for households, firms, or governments. In finance, investment is the application of funds to
hold assets over a longer term in the hope of achieving gains and/or receiving income from those
assets. Saving is closely related to investment and in many instances the terms saving and investment
are used interchangeably. Saving also includes reducing expenditures, such as recurring costs. In
terms of personal finance, saving specifies low-risk preservation of money, as in a deposit account,
versus investment, wherein risk is higher.

OBJECTIVES OF THE STUDY:

1.To correlate the demographies with income levels and percentage of savings.

2.To judge and rank the purpose of investment.

3.To analyse the factors influencing investment decisions of the respondents.

CONCLUSION:

Maximum numbers of respondents are males within the age group of 26-35 years with a Post
Graduate level of Education, in service drawing around Rs 5 lakhs per annum. Maximum respondents
show a medium level of risk bearing attitude Maximum respondents save about 30 percentage of
their income focusing on security of and return from their funds for an average period of 5 to 10
years of investment Friends play a vital role in the investment decisions of the respondents 5.
Occupation and period of investment show the most negative correlation Income and amount saved
has an impact on the purpose of investment by respondents.

7. Soniya Garg, 2021, “A study of factors influencing investor behaviour towards gold as an
investment avenue with factor analysis” Investors preference towards various investment avenues
varies according to their perspectives in terms of needs, benefits, returns etc. In Indian culture earlier
middle-class investors generally used to invest their money according to the return and risk profiles
but gold has been a major investment avenue among middle- and high-class investors because of its
unique features. In earlier times people used to invest in Gold in the form of jewellery etc.
Purchasing Gold was considered as a symbol of good luck and prosperity on some festivals and
wedding etc. People used to preserve their wealth from one generation to another in the form of this
precious metal. They consider jewellery as safe and major avenue of investment. But now a days
some ore options in form of Gold bars, Gold ETFs, digital gold, SGBs, Gold coins are also available for
the investment in Gold. This paper is an attempt to explore various factors which influence the
investor behavior towards Gold purchase by factor analysis.

OBJECTIVES OF THE STUDY:

To explore the factors which affects the purchasing of gold as an investment with the help of factor
analysis.

CONCLUSION:

The findings of the study suggest that security, traditional value of gold and expected higher returns
are the three major factors which affects the investor behaviour towards purchase of gold. Gold gives
a safety hedge against inflation, It is considered as a good portfolio diversifier.

8. Sarfaraz Ansari and Yogeshwari Phatak, Jan. '17, “A STUDY OF ASSESSMENT OF FINANCIAL RISK
TOLERANCE AND PREFERRED INVESTMENT AVENUES OF INVESTORS, Financial Risk tolerance may
be defined as an investors’ willingness to accept the risk of an unfavorable outcome from investment
for the chance of attaining favorable outcome (Grable, 2008). It can be understood with the help of
two aspects. First, it is dependent on personal traits like attitude, perception and confidence of
investors which keeps on changing over time and second aspects is that financial risk tolerance is
determined by external factors like education, income (Roszkowski and Grable, 2010; Gibson, et al.
Van de Venter and Michayluk, 2013). Every individual investor possesses different degree of financial
risk tolerance level which influences his/her investment decision.

OBJECTIVES OF THE STUDY:

1. To assess the financial risk tolerance of Investors 2. To identify the preferred investment avenues
of investors.

Sample Size: 1000 Individuals

CONCLUSION:

Investors decision affected by many internal and external factors which sometimes creates a kind of
fear in the investors mind and therefore, investors avoid investment. Every individual investor has
risk has its own tolerance capacity which influence their selection of investment avenues. Some
investment avenues characterized by high risk while some having low risk and investor select their
investment alternatives according to their risk tolerance level.

9 Dr. B. Kishore Babu, Vanama Sri Harshini & A. Madhavi, “A STUDY ON ENGINEERING FACULTY
PERCEPTION TOWARDS INVESTMENT AVENUES” Investing in different kinds of assets is a fascinating
activity that pulls people from all walks of life with respect to their employment, economic status,
education and family milieu. When a person has more money than he needs for existing
consumption, he would be coined as the potential investor. The investor who is having extra cash
could invest it in securities or in any other assets like gold or real estate or could simply deposit it in
his bank account.

OBJECTIVES OF THE STUDY:

1 To study the perceptions of the engineering faculty as Investors towards various Investment
Alternatives. 2 To suggest the suitable strategies / Policies / Schemes for Investment companies
according to the perceptions of engineering faculty as Investors.

Sample Size: 867 Engineers

FINDINGS:

The study found that majority of respondents aware of all the savings schemes like national savings
certificates, Indira Vikas Patra/ Kisan Vikas Patra, postal savings schemes, mutual funds, insurance
schemes, chits, bank fixed deposits, company fixed deposits, shares, bonds and debentures,
government securities, real estate etc., besides that all these schemes have been adopted by the
respondents except national savings certificates, Indira Vikas Patra/ Kisan Vikas Patra, chits, company
fixed deposits and government securities.

SUGGESTIONS:

Majority of the investing respondents were found to be in the age group of 20 to 40 years. Hence it is
suggested that investment schemes tailored to the senior citizens need to be developed. As there is
the change in the income levels of the faculty most of the faculty are interested to divert their
savings to profitable investment opportunities. However, prior to that, there is a dire need to initiate
steps to inculcate a habit of savings among the faculty. The savings are to be pooled and canalized
into productive investment, thereby returns to faculty as investors may enhance. It may further
accelerate investment in corporate securities in future on a large scale.

CONCLUSIONS:

Indians are conventionally known for their point of reference towards savings and preference for safe
investments. The increase is more marked during the current years. On the investment side, many
new instruments have been introduced during the last two decades to attract the public. The
promotional activities for various investment schemes are not adequate, a majority of the faculty are
aware of the various schemes only through parents, friends, and relatives. Therefore, it is
recommended to various financial institutions to adopt a broad advertising strategy in order to
enable the faculty to know the various investment schemes.
10. Pooja Chaturvedi Sharma, 2019, “IDENTIFICATION OF FACTORS INFLUENCING INVESTORS’
PERCEPTION TOWARDS INVESTMENT IN MUTUAL FUND” Since its inception in emerging economies
like India, the growth of mutual funds has been exceptionally sluggish and it took really long years to
progress up to the modern day mutual funds. Mutual funds as an investment avenue came forward
initially in Netherlands in the18th century followed by Switzerland, Scotland and then in the United
States in 19th century. The central idea following mutual fund investments is to provide a form of
diversified investment solution. This idea was developed over the years and investors received
increasingly large number of choices of investment through the mutual funds. In India, the mutual
fund concept emerged in 1960. The pioneer in the area of Indian mutual funds is UTI.

OBJECTIVES OF THE STUDY:

To analyze the investors awareness and perception regarding investment in mutual funds. To identify
the factors influencing investor perception about mutual funds.

Sample Size: 650

FINDINGS:

73% of respondents recommended investing in mutual funds to their peer group as they consider it
as a profitable source of investment. 40% of respondents have investment valuing less than Rs 1 lakh,
which shows that investors with less investing capacity opt for mutual funds.Major finding of this
research is that perception of investors regarding non conventional investment avenues have
changed and that too in positive and progressive direction.

CONCLUSION:

This research concludes that Indian mutual fund industry is in a nascent stage but the good news is
that it has lot of opportunities to grow. The success depends upon high returns, professional
competence of Fund managers. The MF should be easy to buy and sell through broker or directly in
the market. Mutual Funds have come out as a vital fragment of financial markets and hitherto have
offered sustainable and stable returns to investors. The study reveals that the investors’ perception is
depends on various demographic factors like gender as the demographic composition reveals that
female segment is not fully tapped and also there is low target on higher income group people.

11. Dr. Sonali N. Parchure, Aug 2016, “INFLUENCE OF THE FINANCIAL LITERACY ON THE INVESTOR
PROFILE OF THE INDIVIDUAL INVESTORS” It is known that everyone works for money. It is equally
important to ensure that money works for us. In order to improve one’s future welfare the respective
individual invests. Funds to be invested come from assets already owned, borrowed money, and
savings or foregone consumption. By foregoing consumption today and investing the savings, the
investor expects to enhance their future consumption possibilities. Anticipated future consumption
may be by other family members, such as education funds for children or for themselves, possibly in
retirement when the individual is less able to work and produce for their daily needs. Regardless of
why to invest one should seek to manage their wealth effectively, obtaining the most from it. This
includes protecting the assets from inflation, taxes and other factors.

OBJECTIVES OF THE STUDY:

To study the choice of investment avenues on the basis of gender, age, income groups and marital
status. To identify the different profile of the investors according to the choice of the investment
avenues.

SAMPLE SIZE: 900

CONCLUSION:

It can thus be concluded that generally the choice of the investment avenues does not differ with
gender, age, educational qualifications, occupation, marital status and income. All the investors
prefer conservative investment avenues like Bank FDs, LIC schemes, PPF, NSCs, where there is less
risk. The little change in the choice of the avenues was seen only with the investors who were self –
employed or single or those earning an income greater than ₹8,00,000 p.a. This shows that investors
who are self – employed or single or earning greater than ₹8,00,000 p.a. tend to take a little more
risk as compared to the other investors. These investors are more inclined towards wealth
maximization as compared to the other investors.

12. Nidhi Walia and Dr. Mrs. Ravi Kiran, May 2009, “An Analysis of Investor’s Risk Perception
towards Mutual Funds Services” Mutual funds are recognized as a mechanism of pooling together
the investment of unsophisticated investors and turn in the hands of professionally managed fund
managers for consistent return along-with capital appreciation. Money collected in this process is
then invested in capital market instrument such as shares, debentures and other securities. Finally,
unit holders in proportion of units owned by them share the income earned through these
investments and capital appreciation. Mutual funds put forward a way out to investors to approach
most schemes and get well-diversified portfolio because investors with small savings neither have
sufficient expertise nor have access to required diversification.

CONCLUSION:

The present study endeavored to give a look on investor’s perceptions towards risk-return trade off
for mutual fund services. Understanding of investor’s expectations from mutual funds has become
necessary issue to study due to mutual funds inability to accelerate the required pace of growth.
Moreover, volatility influencing stock market movements is turning most of investors to hold stocks
with calculated risk, in the shape of mutual funds. Thus mutual funds can prove to be most preferred
financial avenue provided it is put forth before investors in the desired form. Facts revealed in this
study highlight the preferences of varied inverters who desire to invest in mutual funds but also
require some innovations and added quality dimensions in existing services. The critical gaps
identified in the study also provide the key information input regarding the discrepancies in existing
framework of mutual funds which can be extremely beneficial to AMCs in designing more lucrative
solutions to suit investor’s expectations. Survey findings of this study have got significant managerial
implications that can be used by AMCs in restructuring their existing practices and finally innovating
new ways of service delivery.

13. Dr. T. Tirupathi and A. Ignatius, “A Study on Preferred Investment Avenues among Salaried
Peoples” The developing countries like India face the enormous task of finding sufficient capital in
their development efforts. Most of these countries find it difficult to get out of the vicious circle of
poverty of low income, low saving, low investment, and low employment etc. With high capital
output ratio, India needs very high rates of investments to make a leap forward in her efforts of
attaining high levels of growth. Since the beginning of planning, the emphasis was on investment as
the primary instruments of economic The 2013 IBEA, International Conference on Business,
Economics, and Accounting growth and increase in national income. In order to have production as
per target, investment was considered the crucial determinant and capital formation had to be
supported by appropriate volume of saving.

OBJECTIVES OF THE STUDY:

To study the investment preference among salaried people working in different sectors in Namakkal
Taluk, Tamil Nadu, India. To know the factor that influencing investment behavior of the peoples. To
analyze the investment pattern among the salaried investors. To find the problems facing by the
investors. To know the mode of investments of the salaried respondents in various investment
avenues.

CONCLUSION:

The study on preferred investment choices has been undertaken with the objective, to analyze the
investment choice of salaried class in Namakkal Taluk, Tamil Nadu, India. Analysis of the study was
undertaken with the help of survey conducted. After analysis and interpretation of data it is
concluded that in Namakkal Taluk, Tamil Nadu, India respondents are medium aware about various
investment choices but they do not know aware about stock market, equity, bond and debentures.
The study is conducted by taking a limited number of sample sizes which is stated earlier. And this
study reflects the perceptions of those respondents who are residing in Namakkal Taluk, Tamil Nadu,
and India. There might be a chance that the perceptions of the respondents of different are varied
due to diversity in social life, living pattern, income level etc. All the age groups give more important
to invest in Insurance and bank deposit. Income level of a respondent is an important factor which
affects portfolio of the respondent. Middle age group, Lower income level groups respondents are
preferred to invest in Insurance and bank deposit rather than any other investment avenues. In
Namakkal Taluk, Tamil Nadu, India respondents are more aware about various investment avenues
like insurance, bank deposits, small savings like post office savings etc. For that awareness program
has to be conducted by Stock Broking firms, because most of the respondents unaware about these
new services about stock market.

14. Nidhi Shah and Dr. Jayendrsinh Jadav, “A STUDY ON PERCEPTION OF INVESTORS TOWARDS
DIFFERENT INVESTMENT AVENUES” The actual wealth of our country and the power of Gujarat
comes from non-resident Indians. Since independence, there has been a notable growth in the
number of people seeking employment overseas in quest of better prospects. Gujarat's economy and
society are both impacted by this migration in every way. The state's wealth and economic
development are correlated with the remittances sent home by Gujaratis who do not live there. The
amount of foreign cash transfers that Gujarat households got throughout the first ten years of the
twenty-first century increased significantly. Our national and state economies receive substantial
contributions and assistance from NRIs. As the most dynamic single source supporting the state's
economy, remittances from Gujarati NRIs have emerged.

OBJECTIVE OF THE STUDY:

To study the impact of the native place on investment behaviour among the NRIs of Gujarat state
with reference to Mehsana region. To study the influence of Government schemes and programs on
NRIs investment behaviour. To recognize the issues and challenges faced by NRIs while making
investment decision. To analyse the preferences of NRIs towards leading investment schemes.

Sample Size: 400 Investors

CONCLUSION:

According to the results of this research, non-resident aliens have been vital to the progress of
Gujarat. They have a strong emotional and social connection to the place they were born. They've
moved away from their loved ones and their native place in pursuit of wealth. Most non-resident
aliens (NRIs) plan to invest more money in their native country (Gujarat). They also recommended
boosting the efficiency and effectiveness of government agencies. They need an attractive plan or
strategy to get NRIs to invest in Gujarat's various industries. The majority of non-resident Indians'
(NRIs') investments in Gujarat are managed by close friends and family (close friends). Those close to
them, who have a better understanding of the state of affairs in Gujarat, are usually the ones to make
investment decisions. Land and real estate are the most popular destinations and investment
possibilities for NRIs, followed by fixed deposits, commodities, and the stock market.

15. Dr. Neha Parashar, 2010, “An Empirical Study on Personality Variation and Investment Choice of
Retail Investors” Researchers across the past several decades have analyzed the behavior of
investors and have attempted to enhance our understanding of why people manage investments in
different ways. Today an extensive body of literature exists that seeks to explain how personal
characteristics influence the behavior of investors. If a common theme is present in this literature, it
is that personal characteristics influence investors' perception of risk and their willingness to assume
risks. In turn the perception of risk determines investing behavior.

OBJECTIVES OF THE STUDY:

To determine the extent to which demographic variables and investor personality affect investment
choice.

SAMPLE SIZE: 100

CONCLUSION:

The investment choice depends on and is affected by the demographic variables such as gender, age,
income, education, occupation as well as various personality types such as conservative, medium
conservative, moderate, medium aggressive and aggressive. The choice of investment avenues as it
varies with the demographic variables and personality types is tabulated in the following tables.
Various factors like age, annual income, gender, education and annual income affect the choice of
investment. Females are considered to be less risk-averse hence they prefer keeping their money in
bank fixed deposits while males prefer to invest their savings in real estate.

16. Dr. Gautam Bansal, June 2017, “Inclination Of Working Women Towards Investment- Study Of
Preference Over Various Investment Avenues In Ludhiana” In the ancient times, women were not
allowed to even get education. Their role was purely to look after home. Their world was limited to
their families. But then, the people slowly started recognizing the importance of education for
women. And today, we find many highly educated women. They are progressing in real sense
because in almost all sectors we find women working successfully. And of course, while doing so,
they haven’t forgotten their job of homemaker. On both the fronts i.e. home & job, they are doing
just fine. They know how to manage work life balance. Women’s income is always considered as a
supplementary income within the family. Usually women’s work/domestic work is included in the
non-productive category in the earlier censuses – showing that other categories are supposed to be
reproductive. It is universally considered as, women and children in the family are consumers, not
producers. (U.Kalpagam, Labor and Gender, 1994). But the growing importance of income earned by
women raises many interesting issues worth serious consideration.

OBJECTIVES OF THE STUDY:

1.To find awareness and knowledge about investments tools among working women in Ludhiana

2.To find out the investment habits of the Ludhiana working women.

3.To know the investment avenues that the Ludhiana working women prefer.
SAMPLE SIZE: 100 WORKING WOMENS

FINDINGS

This study reveals that majority of working women who make financial investments lie in the age
group of 20-30 and 30-40. One of the factors responsible for this can be more awareness of
investment options among the younger age groups and evolution of such financial investment
options in later years of beginning of 21st century. As the age increases, the investment in unsecure
and risky investments like equity and bonds also decrease. This is because the risk appetite of the
investors has a negative correlation with age. Thus we can say that, women investors are highly risk
averse.

CONCLUSION:

There is a huge scope of financial investments in a city like Ludhiana, where the culture for women is
shifting from a housewife to a working women, an equal breadwinner of the house.The concept of
financial investment in Ludhiana has been able to present itself, though there are still a percentage of
women who have not been tapped fully. And there could be still a huge percentage who are still not
either aware about the financial investment avenues or do not know the benefits of making a
financial investment.

17. P. Vanishree Sah, December 2017, “A Study on Investment Behavioural Patterns of women
investors” Financial markets help in accelerating investment activities in the country.
Investments can have a major impact on an investor's well-being. There are a large number of
women investors who have the ability to make investments in insurance, gold, real
estate, bank deposits, share market, provident funds, chit funds and post office. Each of
these investments has common features like potential returns and risks. A great number
of women are being employed and their attitude towards investment avenues is also
changing. Instead of keeping their savings idle, women are showing keen interest in investing
their money saved in various investment avenues to get returns and to meet present and
future expenditures. With more autonomy in decision making, women are playing a pivotal
role in socio-economic growth of the country. Women are playing more active economic role
due to diverse reasons such as recent global financial crises and more men are losing jobs
due to recession in the economy and automation of jobs.

OBJECTIVES OF THE STUDY:

1. To understand the investment objectives of womeninvestors.

2.To analyze the sources of information on investments

3. To identify the investment avenues of women investors.

4.To study the variables influencing the investment decisions taken by women investors.

SAMPLE SIZE: 80

CONCLUSION:

This research showcases that women are more concernedabout meeting their immediate
expenses like medical expenses. Therefore women investors prefer short term
investments rather than making provisions for long term benefits. Though there has been an
increase in the number of educated working women, they are still mostly dependent on their family
members, friends and relatives for investment
related information and for taking investment decisions. Women do not want to take
much risk while making financial investments and therefore opt for safer investments like bank
deposits and gold rather than investing in shares and bonds. As women investors want to create
more wealth to meet short term expenses, they want funds to be easily available whenever
required. The government must strive to
promote financial literacy through its public policies so that women can have better financial
planning skills.

18 Jeet Singh and Jeet Singh, 2016, “A Study on the Factors Influencing Investors Decision in
Investing in Equity Shares in Jaipur and Moradabad with Special Reference to Gender” Behavioural
finance research is rather new. Within behavioural finance, it is supposed that information
configuration and the features of capital market participants scientifically influence individuals’
decisions regarding investments as well as market results. Investors hardly act reasonably while
taking investment decisions. Investors have definite weaknesses like cognitive and poignant which
take an important role in taking investment decision of individuals. They have behavioural biases in
the event of taking decision while investing. They just react to the available information with them
and act accordingly to the financial environment. Decisions relating to investment also depend on
the different type of investors, family back ground, age, occupation, sex, income, marital status, risk
tolerance capacity, education, demographic environment and advice of financial expert and advisor.

OBJECTIVES OF THE STUDY:

1. To identify factors influencing the investor while investing in equity market.

2. To identify certain factors that motivates the investors to invest in shares.
3. To suggest strategies so that investors can optimize their return on investment.

SAMPLE SIZE: 100

FINDINGS:
Both male and female investors concern about considering past dividends paid by companies while
investing in equity shares. Those companies which pay higher rate of dividends are considered good
for investment purpose Male investors analyse the financial ratios such P/E ratio, D/P ratio and other
liquidity ratios while female investors due to lack of financial literacy are not so convenient with
financial ratios Male investors analyse the current financial position of the company in terms of
profitability, liquidity and performance in terms of productivity and innovation while female investors
due to lack of financial literacy are not so convenient with financial data. Male investors study daily
reports published by stock exchanges on gainers and losers before investing in the equity shares as
compared to female investors.

SUGGESTION:
Investors should as far as possible try to make fundamental, technical and financial analysis before
investing in the shares. Both types of investors, male and female try to invest in different asset
classes. There are some investments which are risky and few are not, so depending upon the age, the
investors they should decide about the degree of risk to be taken. Older investors should avoid risky
investments while younger generation investors can take risk.

CONCLUSION:
There are lots of considerations while investing such as tax planning, future needs, safety of
investments, recurring income, etc. So as per the requirement of individual investor, he or she should
consider these variables.
19Dr.K. Banumathy, “Investors' Awareness About Investment In Stock Market” Creating
awarenessabout the stock market (SM) investment among the people is necessary to create
knowledge of investments in shares and other investment. Investors’ awarenessincludes not only the
knowledge of various financial products available in the market but also facilitates decision making,
particularly among the less educated as well as of those committed to long-term financial
decision.Advertising and the agent network playeda vital role positively in creatingawareness, but
not knowledge, hence a coordinated approach is needed to convert theawareness into knowledge.

OBJECTIVES OF THE STUDY:

To identify the awareness(A) of the investors about investment in stock market(SM).

CONCLUSION:
The objective of the study is to analyse the awareness of the investors towards investment in SM.
Hypotheses were framed and tested using the data (290 respondents), which are collected with the
help of structured questionnaire. Using Mann-Whitney U test and Kruskal-Wallis H test the study
shows that male and female investors differ in their awareness about investment in SM; there exists
a significant difference between age group of investors and the awareness about the investment in
SM;majority ofthe investors of different education albackground are equal with regard to awareness
and only very few investors differ in theawarenesstowards SM investment. Besides, the study also
reveals that there is a significant difference between occupation and awareness of investors about
investment in SM.The study supports the earlier studies of Kadariya Collins et al. (2012),Rehman and
Kalkundrikar (2011)and Umamaheswari and Ashok Kumar (2013)where the demographic variables
like gender, age, marital status, education and income influence the investment behaviour of
individuals and their decision making.

20 Dr. R. Abdul Muthalif and K.Munivel, March 2018, “In this modern era, money plays an
important role in one’s life. In order to overcome the problems in future they have to invest their
money. Investment of hard earned money is a crucial activity of every human being. Investment is
the commitment of funds which have been saved from current consumption with the hope that
some benefits will be received in future. Thus, it is a reward for waiting for money. Savings of the
people are invested in assets depending on their risk and return demands, Safety of money, Liquidity,
the available avenues.

Conclusion:
In this fast affecting world, we keep extra money added risk directs to more profit. For the example
total liquidity, income stability a variety as share, bank companies, gold and silver, real estate, life
insurance postal etc. but most of the investors are to preferred bank deposit because more
respondents invested for purchasing home and long-term growth but, most of the investors could
not aware of investing their money in mutual funds. Therefore, mutual funds will give more
compliment and awareness it will help to invest their money in the mutual funds and the capital
market.

21.Ms. Neelakshi Saini (2019): have studided investors perception toward different investment
avenues with a view to know the customer perception towards investment avenues and to know
what are the factors which influence the investor to invest. primary as well as secondary data was
used. the primary data for the study has been collected with the help of customers by using well-
structured questionnaire and secondary data was collected from books, journals and various
websites convenience sampling technique has been used in this study research was done through
descriptive research by taking 100 customers overall study had concluded
thatevery person wants to invest in that avenues where their money is safe and givemoderate return
whether it will increase in slow pace.
FINDINGS

According to analysis 54.5% are female and 44.9% are female .Mostly female prefer to invest in
safety avenues like banks, provident funds and insurance etc while male ready to take therisk for
some extent .They were interested in bonds ,shares and mutual funds and wants good return with
some risk but female only safety of their money with less risk.

SUGGESTIONS

Safety of money is the main concern of every person but their are some investment where risk are
less and good return ,Investor should monitor that avenues so that their money will appreciate and
then can take the help from the financial advisor where their money will appreciate more.

CONCULSION

Investment in the different avenues is the person own willingness and it also depend upon person
individual income and age .Young age people ready to take risk as compare to old
age person. Every person wants to invest in that avenues where their money is safe and givemoderat
e return whether it will increase in slow pace

22.GauravAgrawal(2013),“Investor’s Preference towards Mutual Fund in Comparison to other

Investment Avenues” The study explores almost all of the investors are aware about Banks & Life
Insurance Companies, Mutual Funds and Real Estate, National Saving Certificates, Gold. Some of the
investors have unaware about the Public Provident Fund, Equity Shares & Bonds.

OBJECTIVES OF THE STUDY

1.To find out the most preferred Investment Avenue of the investors of Mathura.

2. To analyze the investor’s preference towards investment in mutual funds when other investment
avenues are also available in the market.

3. To find the main bases of different investment avenues, an investor thinks before investing.

4.To find out the overall criterion of investors regarding investment

FINDINGS

100% investors are aware of Banks & LIC, while 96% aware about Mutual Funds followed by 95% for
the Real Estate, 80% for the NSC 80%, 78% each for Gold & KVP, 76 % for PPF, 68% each for
Equity Shares & Bonds, 64% for MIS, 56% for Others, and the least aware is Commodity Market &
Futures & Options, which clearly indicates that Banks, LIC, Mutual Funds, Real Estate & NSC are the
most popular investment avenues among the investors of Mathura. 2. 46% of the investors’ overall
and main criterion for investment is Return followed by Tax Planning (26%), and Safety( 22%).
It implies that investors generally invest their money for the return. 3. More than 50% of the
investors prefer Banks, LIC & MIS for Safety, while more than 35% of the investors prefer Real Estate,
Equity Shares, Commodity Market, and Mutual Funds for Return, while more than 30% investors
prefer NSC, LIC, and Mutual Funds for Tax Planning. 4. If the investors have been provided
more funds, 50% of the investors would like to invest in Real Estate, 23% in Mutual Funds and only
12% in Equity Shares.

CONCLUSION:
After analyzing & interpreting the data received from the respondents, it may be concluded that
maximum investorsare aware about Banks & LIC investment avenues only. More than 80% investors

are aware about Mutual Funds, RealEstate, and NSC investment avenues. Looking from different

perspective, it is also evident that the overall and main criterion of the investors regardingtheir
investments is Return. Therefore, on the basis of Safety, Bank & LIC are the most preferred avenues
of investmentas it provides maximum safety. On the basis of Return, Real Estate & Mutual Funds are
the most preferred avenues ofinvestment as it provides maximum return. Similarly, on the basis of
Tax Planning, Post Office Schemes & Mutual Fundsare the most preferred avenues of investment.

23.Mishra Ramakrishna (2015) Author explained that this study aimed to investigate perception of
investor towards mutual funds with travel the important aspects of mutual funds affecting
perception of investors and it examined difference of perception of large and small investors based
on explored factors. Data for the study were collected form 136 sample respondents residing in
Bhubaneswar City of Odisha using a structured questionnaire and analysed by exploratory factor
analysis and t-test. As a result of factor analysis three factors namely investment, return and future
were explored and through t-test it was proved that there is a difference of perception among the
small and large investors with respect to ‘return’ and ‘future’ aspects of mutual fund. Small investors
focused on tax returns and savings, but large investors expect future return. Thus, mutual fund
companies must give due significance to these size for their survival and growth in Indian context

OBJECTIVE OF THE STUDY

1.To explore the important aspects of Mutual Funds affecting the perception of mutual fund
investors.

2.To examine the difference of perception of large and small mutual fund investors on the basis of
the explored aspects of mutual funds.

FINDINGS AND CONCLUSION

today’s volatile market environment, mutual funds are looked upon as a transparent and low
cost investment vehicle, which attracts a fair share of investor attention helping spur the
growth of the industry. In this regard, to study the investors perception about important aspects
in mutual fund, factor analysis is used. Fourteen variables are taken for the study and all the
14 variables have been extracted into 3 factors. The important factors regarding the
perception of investors about mutual funds are investment, return and future respectively.
Difference of opinion about mutual fund is again analyzed with the help of‘t’ test. Majority of
the small investors are favourable to the perception about tax returns and investments
whereas large investors thesefactors are future and return. Thus mutual fund companies
should give due importance to these dimensions for their survival and growth in Indian context

24.U M Gopal Krishna, Aliya Sultana, T. Narayana Reddy( 2019): have studied perception of
investors towards risk in variousinvestment avenues with a view to study the investors
demography variables, investors investment knowledge and investors risk taking ability on various
investment avenues. Along with relation between investors demography variables and investors
investment knowledge and their risk taking ability . research was done through descriptive research
design sampling technique was used multistage sampling technique by taking 216 respondents from
kurnool distric. study was limited to kurnool district and some of the respondents are not interested
to reveal the personal investment details the study concludes that some investors havean good
knowledge about their investment and some investors does not have knowledge about their
investment

FINDINGS:

The share market investors’ investment knowledge is significant only on the demography variables of
occupation wise, other variables are not significant and their risk taking ability is significant on only
the investors’ demographic variable of knowledge wise and remaining variables are not significant.
the relationship of investors’ investment knowledge tends to risk taking ability significant in share
market investment.

The mutual fund investors’ investment knowledge and risk taking ability is significant in
demographic variables of gender wise and occupation wise. There relationship of investors
investment knowledge tends to risk taking ability is significant in mutual fund investment the bank
and post office investors ‘investment knowledge is significant only on the demography variable of
education wise, other variables are not significant and their risk-taking ability is not significant in all
demographic variables. The relationship of investment knowledge tends to risk taking ability is not
significant in bank and post office

SUGGESTION

financial education is essential for the investors; it helps to build a secure financial future.

investors responsibilities evaluating the risk of the investment either in the long term or short term,
the investors have clear idea about the investment objectives .investment decision making process
with knowledge and rationalized decision. Investors have strengthened their activities programmes
like seminars,training,researchand publication for protecting their investments and awareness
programmes through media, print, electronic.

CONCLUSION:

The hypothesis of the study is the investors investment knowledge tends to risk taking ability is
significant, but the study output the investors investment knowledge tends to risk taking ability is
significant only share market, bond, gold & silver investment avenues, remaining investment avenues
mutual fund, bank and post office, are not significant.in addition to this some demography variables
are significant in investors investment knowledge and risk taking ability. the basic principle of the
investment is, in any investment avenue investors should have unique characteristics in investments,
they should not be different in age wise, gender wise, occupation wise, etc., therefore, the study
concludes that some investors have a good knowledge about their investment and some investors
does not have knowledge about their investment.

25.Vaidehi and Vijayakumar (2016) examined the investor’s behaviour in Chennai district about the
stock exchange with view to identify the investment motives of individual equity investors of listed
companies and to examine the associations and differences based on their socio-economic profile.
Along with the investing styles of individual equity investors of listed companies the present study
was an empirical and analytical study. The study was based on primary data. A well-structured
questionnaire had been administered to elicit information from the respondents on the aspects of
investment motives and investing styles. The overall study discovered that the individuals who earn
more than 30 lakhs and fall in high level income group were aggressive investors and have the
preference towards growth-oriented stocks.
OBJECTIVES OF THE STUDY

1.To identify the investment motives of individual equity investors of listed companies and to
examine the associations and differences based on their socio-economic profile.

2.To analyze the investing styles of individual equity investors of listed companies and to identify the
associations and differences based on their socio-economic profile.

CONCLUSION

Among the investment motives, the long-term gain is found to be an important factor followed by
dividend and growth prospects and balancing of short term and long-term gain. The least important
factor is supplementing current income followed by retirement safety. Educational qualification, age,
occupation, amount of equity investment influences the investment motive and gender does not
have any impact on investment motive. Regarding styles of investment aggressive investing style is
significantly present. There is insignificant presence of contrarian style. Educational qualification,
occupation, age, income and amount of equity investment decide the investing styles of the investors

26. Gowtham Ramkumar 2017 “INFLUENCES OF STOCK MARKET FACTORS ON INVESTMENT

DECISIONS – A STUDY IN RELATION TO INVESTORS PERCEPTIONINFLUENCES OF STOCK MARKET
FACTORS ON INVESTMENT DECISIONS – A STUDY IN RELATION TO INVESTORS PERCEPTION”
Investors are the heart of stock exchanges in any country. Without them it is impossible to imagine
trading of securities in the stock markets. Perception, a psychological factor, influences the behavior
of people whether it is in home or work place or businesses. About stock markets investor
perceptions play a significant role in it. The choice of their investment depends on their perception
about stock market activities, brokers and investment avenues available. A successful investor should
understand the factors affecting the stock market operations. Therefore, it is important for the
investors to understand the influences of various factors on investment decisions.

OBJECTIVES OF THE STUDY:

1 To understand the various factors affecting the perceptions of investors

2 To test whether there is any relationship between economic factors and investment decisions of
the investors.

3 To test whether there is any relationship between company factors and investment decisions of the
investors.

SAMPLE SIZE: 100

FINDINGS:

1.The study finds that economic factors have a significant impact on investment decisions of the
investors.

2.Similary company factors has a significant impact on investment decisions of the investors.

3.The socio demographic profile of the respondents revealed that 86.7% investors fall under the age
21- 31 and 91% investors are salaried employee. Majority of the investor’s income comes between
Rs.250000 and Rs.500000.

SUGGESTIONS:
 Primarily the investors should consider various factors before choosing an investment avenue.
Economic factors like GDP, inflation rate, BOP position indicates performance of the market.
Therefore, investors should consider these factors before investing. Stock Indices reflect the market.
Apart from various factors discussed by the study, the investors should also consider the nature of
investment avenues and its past performance in the market. Similarly, investors should invest with
the objective of long-term holding rather than for short term gains. They can start less risky
investments like mutual funds and after developing a good knowledge of stock markets can go for
equity investments and after a period 8 to 10 years can diversify their investments.

CONCLUSION:

Good financial background alone is not sufficient to be successful investor. Investors should be risk
loving to be successful in the investments. Not all investors are successful investors. The success of
the investor in the stock market depends on his or her investment decision. The right investment
choice will give right benefits to the investors. Early they enter more profitable opportunities for
them. Therefor investors should consider economic factors, company factors and their demographic
profile while deciding the investment avenues.

27. Dr. V.K. Punithavathi 2018 “Investors Perception towards Mutual Fund” A mutual fund is a
financial intermediary that pools the savings investors for collective investment in a diversified
portfolio of securities. A fund is “mutual” as all its returns, minus its expenses, are shared by the
fund’s investors. The Securities and Exchange Board of India (Mutual Funds) Regulations, 1996
defines a mutual fund as a ‘a fund established in the form of a trust to raise money through the sale
of units to the public or a section of the public under one or more schemes for investing in securities,
including money market instruments.

OBJECTIVES OF THE STUDY:

The main objective of the study is to analyze the investor's perception towards the mutual fund, the
reason for preferring mutual fund and howling they want to invest in a mutual fund. The limitation
involves that the result of the study is applicable only to the study area and the perception of the
investor may be varied over a period.

SAMPLE SIZE: 150

Conclusion:

Respondents fall under the 26-35 age group shows interest in mutual fund investment, private
employees and those who earn 15000 to 20000 as monthly income and married people invest more
in the mutual fund than other categories. Friends Relatives, Advertisement & social media play
important role in creating awareness about the mutual fund. In this study area, the role of  noncoal
advisers and mutual fund agent’s role are minimum than informal networks. Here people prefer
investment for high returns and safety when compare to investment in shares and they are low-
income people they prefer mutual fund for saving rather than tax benefit. As per their monthly
income, systematic investment plan is preferable than a single time investment plan and they want
to stay back for long-term investment.

28. E. Bennet and Dr.M.Selvam 1999 “ INVESTORS’ PERCEPTION OF THE FACTORS INFLUENCING
THE STOCK SELECTION DECISION” Research in Behavioural Finance is comparatively less in India,
when compared to other foreign countries. Behavioural Finance assumes that information structure
and the characteristics of market participants systematically influence individuals’ investment
decisions as well as market outcomes. The Behavioural Finance mainly focuses on how investors
interpret and act on micro and macro information to make investment decisions. Behavioural
Finance is defined by Shleifer (1999) as “a rapidly growing area that deals with the influence of
Psychology on the behavior of financial practitioners”. The globalization of financial markets has been
increasing the size of the community of retail investors’ over the past two decades by providing a
wide variety of market and investment options. Hence, it makes their investment decisions process
much more complex.

Objective of the Study:

The main objective of the study is to analyse the investors’ perception of the influence of Social,
Political, Economic, Regulatory, Technological, Environmental and Legal (SPERTEL) risks on the value
of equity shares in the market.

CONCLUSION:

The findings of this Study are in line with the study of Totok Sugianto, et al., (2007). Based on the
perception of the investors taken for this Study in Tamil Nadu, SPERTEL risk is proved to have
influence over the market price of the equity share. It is to be noted that except for the social factors
between married and unmarried investors, political, regulatory and legal factors for age and
occupation, all other factors seemed to be insignificant. It is believed that the findings of this study
can be complemented by further investigation on the areas of other internal factors like, Intra
Country; Inter Country, Investor and Managers, Psychological Factors such as Heuristics, Framing,
Mental Accounting and so on.

28 Palash Bairagi and Dr. Anindita Chakraborty “Effect of Gender, Age and Income on Investors'
Risk Perception in Investment Decision : A Survey Study” The advancement in finance proliferated
the introduction of behavioural finance as a new discipline, which mainly deals with investors' biases
and psychological factors. The factors caused investment decision making nasty sometimes. The
principal cause of this nasty behaviour is that “the investors' act irrational” (Shiller, 2000), by its sex,
age and income. Apart from these, the foremost cause is the individual investors' himself and his
level of risk perception which intervene the investment decision making. In other words, the
investors' risk perceptions are influenced by its social emotion which affects the investment decision
making. In behavioural finance (Slavic, 1987), risk perception is defined as the subjective judgments
which relates to how much people know about and understand risks. Similarly, Bairagi et al., (2018)
say about the concept "Risk perception" which defines the way retail investors' view the financial risk
based on expert knowledge and experiences that acquired from a different class of people.

OBJECTIVE OF THE STUDY:

The objective of the present study is to investigate the effect of gender, age and income on investors'
risk perception in the investment decision.

SAMPE SIZE: 100

FINDINGS:

Based on the research objective the effect of gender, age and income on investors' risk perception in
the investment decision and the hypothesis. The study found that male respondents (77.8 %) are
more than the female (22.2%).

CONCLUSION:
By looking into the objective of the study, the present study concluded that the effect of gender, age
and income are adversely affected investors' perception, which is shown in the literature review.
However, in this study, the mean score for equality of variance is same for age groups and between
income groups as compared to gender, which shows the inequality of mean score between male and
female Hence, it can be said that the independent grouping variable like gender, age and income
does not affect so much to investors' perception towards risk as the study is statistically significant
among the dependent group variable. While looking into the investor profile, we can also make
differentiate among male participants are more advanced than the female participants in investment
matters.

29 Rizwana Khurshid 2016 “Investors perception and behaviour towards mutual funds as an
investment option” A mutual fund is a financial intermediary that acts as an investment vehicle,
pools the savings of number of investors for collective investment in a diversified portfolio of
securities like stocks, debentures, bonds etc. thereby enabling the investors to achieve their common
financial goal. The income generated through these investments and the capital appreciation realized
is shared by all the investors in proportion to the number of units that are being owned by them. The
Securities and Exchange Board of India (Mutual funds) Regulations, 1996 defines a mutual fund as a
fund established in the form of a trust to raise money through the sale of units to the public or a
section of the public under one or more schemes for investing in securities, including money market
instruments or gold or gold related instruments or real estate assets.

Objectives of the study:

1. To study the investment pattern of investors.

2. To find out the preference of investors about different avenues of investment.

3. To find out the best sector for investment.

4. To ascertain investors preference upon time of holding the investments in Mutual fund.

5. To find out the type of plan preferred by the investor.

6. To find investors risk level associated with mutual funds.

7. To ascertain the factors that prevents the investors to invest in Mutual funds.

SAMPLE SIZE: 300

FINDINGS:

1. Most of the investors come from the salaried class.

2. Most of the investors prefer to invest their money in mutual fund.

3. Investors prefer to monitor their investment on monthly basis.

4. Return on equity Mutual fund schemes is more than the return on other Mutual fund schemes.

5. Investors consider Mutual fund plans as high-risk products.

6. Most of the investors prefer to hold their investment for a period of 4-6 years.

CONCLUSION:
Now a day’s mutual funds as a part of financial markets have become more popularized among the
investing public because of their convenient nature and because they facilitate easy operations with
goods returns. Growth has been considered as the most significant objective while making
investment in mutual funds.

30 Dr. B.S. Hundal, Dr. Saurabh Grover, Jasleen Kaur Bhatia 2013 “ Behaviour and Gold Investment:
A Perceptual Study of Retail Investors” Until the end of last century, Middle class Indians paid a
little attention on managing personal finance during their working life span and consulted their peers
or advisors about some deposit schemes with banks or post office or companies only at the time of
retirement or at the crisis time (Das, 2012). Now when the growth of the capital market has
substantially increased during the past few years, the investor population has also boomed in India.
Each investor holds different objective that needs to be accomplished depending on demographic
and psychological needs of an individual. The relevance of correct advice at the right time is being
appreciated nowadays and an investor is trying to become the manager of their personal finance
(Ramanujam and Devi, 2012). Research indicates that investors‟ behavior will be affected by
personality traits, interpretation of information, responses of sentiments, return and risk.

OBJECTIVES OF THE STUDY:

To study the perception of retail investors towards purchase of gold.

SAMPLE SIZE: 180

CONCLUSION:

The perception of retail investors towards purchase of gold in the present scenario has been worked
out with the help of questionnaire in this study. The results of factor analysis revealed that variables
like profitability, tax aversion, future prospect, time value of money etc. motivates a retail investor to
purchase gold as an investment. The purpose for buying gold has clearly come out through the
survey. Despite hike in taxes and depreciating rupee, unless the consumers get suitable alternatives
which meet their respective needs, people do not want to shift away from gold, rather they are
treating gold as a safety buffer. Another major advantage for gold being preferred is that it has
multiple characteristics which very few other assets have - high liquidity: both in terms of ease of
end-cashing it or availing a gold loan from bank but also the resale value (very small deduction while
re-selling); conventional value and cultural values it holds for the consumers.
 FINDINGS
Following are the findings of the study;

1. Majority of the investors are males as well as females.

2. Most of the investors are salaried persons
3. Most of the investors preferred to long term investment only.
4. Majority investors invests money in share market and mutual fund for higher returns
5. Most of the investors invest money in higher risk investment.

SUGGESTION
For every investor, it is necessary to know the current market situation, economic issues and other
factors for analysing and valuing their investment. Based on the findings of the study it is proposed
to suggest that investment of surplus amount can be invested in the safety investment public
provident fund, fixed deposits, gold, bonds, real estate or on investing risky avenues like stock
market, cryptocurrency, mutual funds investors should cautious on investing in risky investment
avenues.

 Investors must analyze the level of risk for every investment.

 Investors should concentrate on Time value of Money.
 Either in the long-run or short-run, the investor should have clearness about their
investment objectives.
 Investors must aware about the happenings in financial market.
 Based on the needs of the investors, the investment avenue will be choosen.
 Investors should know about the costs to buy and sell the investments .

CONCLUSION
According to this study Investment is important to achieve individual goal. Investment means we
have money, then we need to make analysis to invest the money, and expected get return in
future. If the investment is run well, then we will make a lot of profit if the investment not run
well, we will lose all the investment and need to start from earlier. Apart from that,
first thing first we must set an investment plan to make the investment run well. From
that, we can know what we will face in future, what the risk need counter, what economy is going
and many more.
As we also know, there are also specific place for investment to be done. It will involve capital
market, equity market, debt market and many more. So, we need to know where we
should invest our money whether to invest in high- risk market or lower risk market to gain return
in future. Usually, high return will associate with high risk.