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Contents
Chapter 1...................................................................................................................................5
1.0 Introduction........................................................................................................................5
Chapter 2...................................................................................................................................8
2
2.2.3 Performance of These Investments Over the Last 10 Years..............................16
Chapter 3.................................................................................................................................17
3.0 Methodology.....................................................................................................................17
Chapter 4.................................................................................................................................21
4.0 Findings.............................................................................................................................21
Chapter 5.................................................................................................................................23
5.0 Discussion..........................................................................................................................23
5.5 The Implications Of The Research For The UK Economy And Its Citizens.........35
Chapter 6.................................................................................................................................36
6.0 Recommendation..............................................................................................................36
3
Chapter 7.................................................................................................................................38
6.0 Conclusion.........................................................................................................................38
References...............................................................................................................................39
4
Chapter 1
1.0 Introduction
Since the beginning of the 2000s, the United Kingdom has been a participant in the
international equity market. There have been many highs and lows for the country during the
previous ten years, including the global financial crisis in 2008, the Brexit referendum in
2016, and the outbreak of the Covid-19 virus in 2020 (Tetlow and Stojanovic, 2018). Despite
these challenges, the equity market in the UK has remained strong and attracted significant
Over the last decade, the stock exchange in the UK has been subject to a great deal of
disruption. The significant shifts have been brought about by formulating new regulations,
(Bhowmik and Wang, 2020). Because of these reforms, entry to the equity market in the
United Kingdom has been made more convenient for investors worldwide. Despite its
challenges, the UK equities market has maintained its ability to attract investors. This results
from the nation's strong economic base, credit rating, and many top-tier firms.
In the past decade, investors have regularly decided to put their money into the stock market
of the United Kingdom (UK). This results from the nation's strong economic base, AAA
credit rating, and many top-tier firms. In the past ten years, the market has been subjected to a
significant amount of change, including introducing new regulations, the development of new
technologies, and an increase in the globalization of the market (Haroon and Rizvi, 2020).
Because of these reforms, entry to the equity market in the United Kingdom has been made
more convenient for investors worldwide. As the economy of the United Kingdom (UK)
continues to show signs of improvement, analysts predict that the country's stock market will
expand in the coming years. As a direct consequence of this development, chances will arise
for investors to realize profits from the assets they have invested in.
5
1.1 Statement of The Problem
The underlying issue is that individuals in the UK have yet to invest in equity markets for the
last ten years adequately. Because of this, the value of their investments has decreased, and it
has become more difficult for them to turn a profit. People in the UK need to get into the
practice of investing in equity markets so that they can start turning a profit and expanding
their portfolios. The equity markets present a significant opportunity for profit and expansion,
and residents of the UK ought to make the most of this window of opportunity (Seyfang and
Gilbert-Squires, 2019). Investing in equity markets is not without its risks. Still, residents of
the UK can reduce these risks to a manageable level by diversifying their holdings and
working with a reputable financial advisor. People in the UK should also be aware of the fees
This study aims to investigate the investment behavior of UK people in the equity market
1. Identify the factors that influence investment decisions in the equity market.
3. Assess the performance of these investments over the last ten years.
1. What are the main factors that influence investment decisions in the equity market?
3. How have these investments performed over the last ten years?
After carrying out this research, one will better grasp the elements that affect whether one
should invest in the United Kingdom. Understanding the factors that influence people's
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investment choices will make it much simpler to identify trends and make wiser investment
choices in the future. The research will also detail the numerous strategies and types of
investments that investors in the United Kingdom utilize while investing in the stock market.
As a result, it will be possible to discover more about the performance of various investment
types over time. An assessment of these investments' performance over the last ten years will
The study will provide information on how British investors interact with the stock market.
As a result, it will be possible to discover more about the performance of various investment
types over time. Performance analysis of these assets over the previous ten years will also be
performed as part of the study. This will provide crucial knowledge on which investment
options historically have generated profitable results and which have not.
The results of the study will have an impact on future increases in the amount of money that
can be made from investments. One can make better decisions in the future if they have a
thorough awareness of the variables that affect investing decisions. As a result, investors will
earn more significant gains. The report will also include details on how UK investors
The analysis will enable more intelligent investment decisions to be made in the future.
Making better investment judgments will be achievable if one knows the elements
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Chapter 2
Over the past decade, several factors have influenced how people invest their money in the
equity market in the UK. The Brexit vote in 2016 resulted in the United Kingdom leaving the
European Union, the COVID-19 pandemic in 2020, and the current global financial crisis
Before the Brexit vote, most UK investors had a bullish outlook on the stock market's future.
However, the result of the referendum to leave the EU brought about a period of uncertainty
and volatility in the market. In response, investors in the UK became less risk-taking, and
Early in 2020, the equity market experienced a significant drop due to the Covid-19
pandemic (Khan et al., 2020). Investors in the UK once again became risk-averse, and many
sold their holdings. Since then, there has been some recovery in the market, but investors in
Further selling in the equity market has occurred as a direct result of the ongoing global
financial crisis. Many investors in the UK are getting more risk-averse and selling off their
assets as a result. Soon, the market is anticipated to continue to exhibit a high degree of
volatility. As a result, investors in the UK are likely to continue to exercise extreme caution
In the year 1996, the American economist Robert Shiller was the one who first proposed the
idea of irrational exuberance. It states that asset prices (such as stock prices) can become
detached from underlying fundamentals (such as earnings) and can exhibit unsustainable
levels of growth as a result of psychological factors (Mesly, 2022). One example of this is
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how the housing market has performed recently. These characteristics can include investor
confidence, the behavior of the herd, and an overly optimistic outlook. Asset prices can crash
The irrational exuberance theory helps explain the investment behavior of people in the
United Kingdom in the equities market during the past ten years. Investors in the UK have
developed an unhealthy level of confidence and optimism over the possibilities of the equity
market in the future, which led them to invest more heavily than they probably should have
(Lin, 2020). Asset prices will likely experience a significant drop when these psychological
Regarding the investments that people in the UK have made in the stock market over the
previous ten years, the irrational exuberance theory can help explain the Covid-19 pandemic.
Investors have neglected the risks associated with a global pandemic in favor of becoming
overly optimistic about the prospects of the equity market. When people started to face the
reality of the pandemic, it caused asset prices to drop significantly. Even though investors are
attempting to navigate through the uncertainty caused by the pandemic, the theory is still
relevant today. Many people are curious as to whether or not the current market conditions
can be maintained or whether or not there will soon be another market correction. The answer
In terms of the investment made by the UK in the equity market, the irrational exuberance
argument may contribute to an explanation for Brexit. Investors in the United Kingdom may
have developed an unhealthy level of confidence and optimism over the possibilities of the
equities market in the future, which led them to invest more heavily in the equity market of
the United Kingdom than may have been logical (Beerbaum and Puaschunder, 2019). When
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drop in asset prices and a withdrawal of investment from the UK equities market. Both of
The theory explains why people might be investing in the equity market of the UK despite
The theory is supported by empirical evidence and founded on sound economic principles.
The theory emphasizes the significance of irrational exuberance as a primary factor in the
The theory can help explain why people continue to invest in the equity market in the United
The theory can assist investors in making decisions regarding their more logical investments.
The theory needs to take into account the significance of fundamental analysis when it comes
The theory does not take into account the function that technical analysis plays in the process
The theory needs to consider the influence that market sentiment has on investment decision-
making.
The hypothesis does not consider the significant influence that current events and news have
The theory needs to take into account the part that feelings play in the process of making
financial decisions.
John Maynard Keynes is credited with being the first to put forward the concept of risk
aversion in his book "The General Theory of Employment, Interest, and Money." According
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to this notion, most people have a low tolerance for danger and will try to avoid precarious
circumstances whenever possible (O'Donoghue and Somerville, 2018). This indicates that
people tend to put their money in safe and predictable assets, such as government bonds,
rather than in assets that carry a higher level of risk, such as stocks. According to this
hypothesis, consumers expect a more significant investment return to compensate for their
increased risk.
The level of uncertainty and risk in the economy has increased due to several factors,
including Brexit, Covid-19, and the ongoing financial crisis in the equities market in the UK
(Barrero and Bloom, 2020). Because of this, more and more people are avoiding taking risks
and instead investing their money in safe and reliable assets, such as government bonds. The
increased demand for these assets has resulted in higher prices, which has caused the pound's
value to decrease. The decline in the pound's value has resulted in higher prices for imported
goods, which has contributed to overall price inflation. Consequently, people are even less
willing to take risks to safeguard their savings. Accordingly, the economy remains mired in a
The only way to break free of this cycle and succeed in business is to lessen the amount of
risk and uncertainty in the economy. Increasing government expenditure and investment is
one way to accomplish this goal, as doing so will lead to the creation of jobs and an increase
in trust. It is also possible to achieve this by reducing the number of rules and taxes in place,
making it more straightforward for firms to invest and generate jobs. Finding a strategy to
minimize the amount of uncertainty and risk in the economy without adding to the deficit
presents a challenge for the government of the United Kingdom (Al-Thaqeb and Algharabali,
2019). This is a challenging undertaking, but it needs to be faced if there is any hope of the
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2.1.2.1 Strengths of The Theory
According to this theory, most people are risk averse and will only put their money into the
stock market if they believe the potential benefits outweigh the potential dangers.
The theory takes into account the human element in investment decision-making as well as
how individuals evaluate the benefits and drawbacks of a variety of investment opportunities.
The theory is supported by empirical evidence, demonstrating that when markets are volatile,
people are more likely to invest in assets with lower risk. This lends credence to the theory.
The idea explains why individuals continue to participate in the stock market even though
The idea can be used to assist in determining the characteristics of investors who are more
The risk aversion theory does not adequately account for the part played by feelings in
The theory needs to consider the role those other considerations, such as the requirement for
The theory needs to explain why some investors are willing to take on more risk than others.
The theory does not explain why investors' risk preferences shift for a long investment career.
The theory needs to take into account the impact that taxes have on the choices that investors
make.
In cognitive psychology, the anchoring theory has been the subject of extensive research, and
the results of those studies have shown that it is a significant contributor to bias in decision-
making (Lieder, Griffiths, Huys, and Goodman, 2018). Overconfidence, risk-taking, and
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racial and gender discrimination are just a few of the topics that have been attempted to
The anchoring theory explains why people in the United Kingdom who invest in the stock
market may be placing excessive weight on events such as Brexit and the COVID-19
outbreak while failing to recognize an adequate amount of weight on the ongoing financial
crisis (Simmons and Culkin, 2022). According to the anchoring theory, people tend to place
excessive weight on the first piece of information they obtain, which can result in biases and
conclusions that are less than ideal. In this particular scenario, the citizens of the United
Kingdom may be basing their decision to invest in the stock market not on the current
financial crisis but rather on the impending Brexit and the COVID-19 epidemic. This could
result in less-than-ideal investment decisions and provide light on why more people in the
The idea also argues that people may be overreacting to events such as Brexit and the
COVID-19 epidemic, which may lead to more decisions that are less than optimal. Because
of the anchoring effect, people in the UK may invest more money than they should in the
stock market. The anchoring theory can also explain why more individuals in the United
Kingdom do not invest more money in the stock market (Dell'Ariccia, Rabanal, and Sandri,
2018). The citizens of the UK are basing their decision to invest in the stock market on events
like Brexit and the COVID-19 epidemic, which could result in less-than-ideal decisions
regarding investments.
The theory explains why people invest in the equity market despite economic uncertainty.
The theory explains why people are willing to invest in the equity market despite political
uncertainty.
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The theory explains why people are willing to invest in the equity market despite social
unrest.
The theory explains why people are willing to invest in the equity market despite
environmental uncertainty.
The theory explains why people are willing to invest in the equity market despite the
technological change.
The theory explains why people are willing to invest in the equity market despite
globalization.
The theory does not consider the role of emotions in investment decision-making.
The theory does not consider the role of other factors, such as cognitive biases, in influencing
investment decisions.
The theory fails to explain why investors would continue to invest in the equity market
The theory does not consider the role of financial incentives in influencing investment
decisions.
The theory needs to explain why some investors would choose to invest in the equity market
The success of the equities market can be significantly influenced by the global economic
environment, which can include factors such as interest rates, inflation, and the performance
The political climate is another factor that might affect the equity market; for example, Brexit
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The state of the firm, including the company's financial health, management team, and
position in the competitive landscape, is another essential element that influences investment
The industry in which the company is active is another factor that might influence investment
choices; specific industries are more susceptible to market fluctuations than others.
The company's valuation, which takes into account its share price, earnings, and price-to-
earnings ratio, is still another essential component that plays a role in the investors' decisions
Investors in the United Kingdom have various choices when investing in the stock market.
They can place their money in stocks, bonds, mutual funds, or exchange-traded funds as
investments (ETFs). They also have access to various platforms, such as online brokerages,
investment apps, and conventional financial institutions, which they can use to gain access to
Stocks are the most common and widely held investment among people in the UK. This is
likely attributable to the fact that stocks provide the opportunity for high potential returns
(Phan, Sharma, and Tran, 2018). However, stocks have a higher level of inherent risk
Bonds are yet another sort of investment that is common among investors in the UK. Bonds
are generally thought to carry a lower level of risk than stocks, but the potential returns on
bonds are also lower. Bond prices are susceptible to change due to various factors, such as
differences in interest rates and inflation levels, as well as the issuer's creditworthiness.
Additionally, well-liked by UK investors are the investment vehicles known as mutual funds
and exchange-traded funds (ETFs) (Farinella and Kubicki, 2018). Investors looking to
diversify their holdings can do so through mutual funds, which are portfolios of securities
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that a professional money manager manages. Exchange-Traded Funds (ETFs) are
investments comparable to Mutual Funds; however, ETFs are traded on Exchanges just like
Stocks. ETFs typically have lower fees than mutual funds and can be traded more
conveniently.
It is common knowledge that the stock exchange in the UK has experienced a great deal of
volatility over the past decade. The success of these investments has been significantly
When one examines the data, it is easy to see that the equity market in the UK has been quite
volatile over the past ten years. There have been prosperous years, such as 2013, when the
market gained more than twenty percent (Giese et al., 2019). However, there have been some
less good years, such as 2016, when the market declined by almost 10%.
The overall performance of the UK equity market over the past decade has been remarkably
unremarkable. This starkly contrasts with the rapid expansion witnessed in other key markets,
Over the past decade, participants in the equities market in the UK have had to overcome
several obstacles. The economy has been significantly impacted by both Brexit and Covid 19,
a significant source of uncertainty (Martin and Nagel, 2022). On the other hand, there have
been a few encouraging developments, such as the robust performance of the stock market in
2013.
When looking into the future, it isn't easy to forecast how well the equity market in the UK
will do. Even though Brexit and COVID-19 continue to be significant dangers, there is still
the possibility that the market may recover if these problems are overcome.
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2.3 literature Gap
There are a number of gaps in the research that has been done on how people in the UK have
invested in the equities market over the course of the past ten years.
To begin, there is a paucity of data regarding the actions taken by UK investors during times
of market volatility, such as the vote to leave the EU and the pandemic caused by the
COVID-19 virus.
Second, there is a lack of information regarding the specific types of stock investments that
Thirdly, there is a lack of information regarding how well UK investors have performed in
the equities market over the course of the past ten years.
Fourthly, there is a paucity of information regarding the amount of risk tolerance exhibited by
investors.
There is a dearth of knowledge regarding the psychological aspects that play a role in the
In conclusion, there is a paucity of data on the educational background and level of financial
knowledge of UK investors.
Chapter 3
3.0 Methodology
The present study is a systematic review to investigate the investment behaviors of UK people in the
equity market over the last 10 years. This systematic review will be undertaken using a rigorous
methodological approach in order to synthesize the evidence from the available literature. The
purpose of this review is to explore the investment behaviors of UK people in the equity market over
the last 10 years and to identify any potential trends or patterns that may have emerged.
Eligibility criteria is an important part of the methodology section of a research study. In the
research study of Investment Behaviors of UK People in the Equity Market Over the Last 10 Years,
the eligibility criteria will be used to determine the studies that are included and excluded in the
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review. The inclusion criteria for this research study will be studies conducted in the UK over the last
10 years that have examined the investment behaviors of UK people in the equity market. The
exclusion criteria for the study will be studies that are older than 10 years, studies that are not
conducted in the UK, and studies that do not focus on the investment behaviors of UK people in the
equity market. The studies that meet the inclusion criteria will be grouped based on their focus, such
as studies that focus on individual investment behaviors, studies that focus on group investment
behaviors, and studies that focus on institutional investment behaviors. By establishing the eligibility
criteria, the research study can be more focused and the results of the review will be more reliable.
The information sources for this research study will include databases, registers, and websites. The
databases and registers that will be used include the British Library, the British Economic and Social
Research Council, and the British National Bibliography, Google scholar and PubMed. The websites
that will be used include the UK Government’s Investment and Savings website, the Financial
Conduct Authority website, and the HM Revenue and Customs website.
The search strategy for this research study will be comprised of a combination of keyword and
Boolean searches. The keyword searches will include words such as “UK”, “investment”, “equity”,
and “market”. The Boolean searches will combine these keywords with phrases such as “last 10
years” and “UK people”. The searches will be limited to studies that are relevant to the research
study’s scope and will be conducted on all of the information sources listed above. The searches will
be conducted on a regular basis in order to ensure that all relevant studies are identified. The results
of the searches will be compiled and organized in a systematic way in order to facilitate the selection
process.
The selection process for this research study will involve screening the results of the search strategy
in order to identify the relevant studies. All of the studies identified will be evaluated against the
eligibility criteria in order to determine which studies should be included in the review. During this
process, I will work independently, without the assistance of any automation tools. Once the
relevant studies have been identified, I will collect the data from each report and compile it into a
single database.
I will also assess the risk of bias in the included studies and use this information to determine the
validity of the results. Finally, I will assess the certainty of the body of evidence for each outcome in
order to determine the overall quality of the results.
The data extraction process for this research study will involve collecting the relevant data from all
of the studies that have been included in the review. The data that will be collected includes the
outcomes of the studies, such as the investment behaviors of UK people in the equity market, as
well as other variables such as participant and intervention characteristics, and funding sources. For
each study, the data will be collected by one person and any assumptions that are made about any
missing or unclear information will be documented. The data will be extracted using a standardized
data extraction form and any discrepancies that are found in the data will be resolved by consulting
the original studies. The collected data will be organized in a systematic way in order to facilitate the
synthesis of the results.
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3.6 Synthesis Methods
The synthesis methods for this research study will involve combining the results of the included
studies in order to draw conclusions about the investment behaviors of UK people in the equity
market over the last 10 years. The synthesis methods will include tabulating the study intervention
characteristics in order to compare them against the planned groups for each synthesis. The data
will be prepared for presentation or synthesis by handling any missing summary statistics and data
conversions. The results of individual studies and syntheses will be tabulated or visually displayed.
Meta-analysis will be performed to synthesize the results and the model and methods used to
identify the presence and extent of statistical heterogeneity and the software package used will be
described. Sensitivity analyses will be conducted to assess the robustness of the synthesized results.
The potential bias in this research study will include selection bias, reporting bias, and publication
bias. Selection bias occurs when the selection of studies for inclusion in the review is not random,
and reporting bias occurs when the results of studies are not accurately reported. Publication bias
occurs when studies with positive results are more likely to be published than studies with negative
or neutral results. In order to reduce the potential for bias, the selection process will involve
assessing the quality of the studies and the reporting process will involve collecting data from all of
the studies that meet the eligibility criteria. Additionally, the search strategy will be comprehensive
and will include searches of multiple databases and registers, as well as websites.
The certainty assessment for this research study will involve assessing the certainty (or confidence)
in the body of evidence for the outcomes of interest. The assessment will involve using an
established tool, such as the GRADE approach, to evaluate the quality of the evidence and to rate
the certainty of the results. The assessment will involve considering factors such as the risk of bias in
the studies, the consistency of the results across studies, the precision of the results, and the
likelihood of publication bias. The results of the certainty assessment will be used to determine the
overall strength of the evidence and to make recommendations on the basis of the evidence.
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Chapter 4
20
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