ISSN : 2663-2187

Neuroeconomic Analysis of Investment Behavior among Working Professionals in Chennai

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Dr. S. Purushothaman, B. Manoj Praveen, V. Padma Shree, V. Saranya, P. Srilekha, Thivakar. M. E, Dharshini D C
ยป doi: 10.33472/AFJBS.6.6.2024.2258-2265

Abstract

The investment behavior of working professionals is a multifaceted and dynamic area of study that has garnered significant attention from researchers, financial advisors, and policymakers alike. This study aims to provide a comprehensive analysis of the investment strategies, risk perceptions, decision-making processes, and influencing factors among working professionals. The research methodology employed a combination of surveys, interviews, and data analysis to gather insights from a diverse sample of working professionals across various industries, income levels, age groups, educational backgrounds, and geographic locations. The survey questionnaire was designed to capture key aspects such as investment preferences, risk tolerance levels, financial goals, investment knowledge, and past investment experiences. Interviews were conducted with a subset of participants to delve deeper into their investment behavior, motivations, challenges faced, and strategies employed. Qualitative data from these interviews complemented the quantitative data from the surveys, providing a richer understanding of the nuances in investment decision-making among working professionals. The findings of this study revealed several interesting patterns and trends. It was observed that working professionals often adopt a mix of conservative and aggressive investment strategies based on their risk tolerance levels, financial goals, and investment knowledge. Factors such as income level, age, educational background, and life stage also significantly influenced investment behavior. Younger professionals tended to have a higher risk appetite and were more inclined towards growth-oriented investments such as stocks and mutual funds, while older professionals leaned towards safer investment options like bonds and real estate. However, there were variations within these age groups based on individual preferences and experiences. The study also highlighted the role of financial literacy, peer influence, market conditions, and personal beliefs in shaping investment decisions. Participants expressed concerns about market volatility, economic uncertainty, and the need for professional advice to navigate the complexities of investment planning effectively. The implications of these findings are far-reaching. Financial advisors can tailor their services to better meet the diverse needs of working professionals, offering customized investment strategies, risk management solutions, and educational resources. Policymakers can design targeted initiatives to promote financial literacy and empower individuals to make informed investment choices. Overall, this study contributes valuable insights into the investment behavior of working professionals, shedding light on the factors driving their decisions and the opportunities for improving financial well-being and investment outcomes in today's dynamic economic landscape.

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