Does Cognitive Bias and Risk Perception Impact Investment Decision? Women Investors’ Perspective

Pushpa A.; Singh J.K.; Ramirez-Asis N.; Norabuena-Figueroa R.; Fernandez-Celestino W.; Acosta-Ponce W. · Studies in Computational Intelligence (2023) · DOI: 10.1007/978-3-031-43300-9_31

Resumen

Behavioural finance is the new paradigm in the field of finance that studies the impact of psychological factors on individual’s investment decision. The present study explores impact of two cognitive biases-mental accounting, anchoring on risk perception and also if all the three factors impact women on their investment decisions. The study proposed a research model to test five hypothesis. A quantitative research was channeled using a structured questionnaire to collect the data for study through online. The data was collected from 300 respondents and the same was used for testing five hypothesis by applying structural equation modelling. The results revealed that the dependent factors mental accounting, anchoring, have a positive association on dependent variable risk perception, and in turn all the three factors have a significant positive impact on the dependent factors investment decisions.

Instituciones: Universidad Privada San Juan Bautista; Universidad César Vallejo; Universidad Nacional Santiago Antúnez de Mayolo