Impact of Emotional Intelligence, Personality Traits, Risk Perception and Behavioural Biases on Investment Decisions
Description
Abstract: The study aims at analyzing the influence of various psychological factors (emotional intelligence, personality traits, risk perception & behavioral biases) on investment decisions. Even though previous studies focussed on analysing these psychological factors individually but few studied their combined effect and their mediating/moderating effect on investment decisions. Consequently, this research is carried out to analyse the impact of the five personality traits & emotional intelligence separately towards the investment decisions and to analyse the mediational role of emotional intelligence on the influence between personality traits & investment decisions. Furthermore, the study also aimed at analysing the direct impact of risk perception on investment decisions & risk perception as a moderator between behavioural biases & investment decisions. Structural Equation Modeling (SEM) is applied to explain the relationship among multiple variables. It is concluded that Emotional intelligence, Cognitive dissonance & herding bias are positively related with all investment decisions.
Keywords: Personality Traits, Emotional Intelligence, Risk Perception, Investment Decisions, Behavioral Biases
JEL Classification Number: G4, G41
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