Predicting the financial behavior of Indian salaried-class individuals
- Title
- Predicting the financial behavior of Indian salaried-class individuals
- Creator
- Mulasi A.; Mathew J.; Desai K.
- Description
- COVID-19 has caused not only unprecedented health crises but also economic crises among individuals across the world. White-collar (salaried-class) employees with a fixed salary face financial insecurity due to job loss, pay cuts and uncertainty in retaining a job. This study examines the financial behavior of Indian white-collar salariedclass investors to their cognitive biases. In addition, the mediating effect of financial self-efficacy on cognitive biases and financial behavior is examined. Respondents were given structured questionnaires (google forms) through emails and WhatsApp for data collection. SPSS and R-PLS are used to analyze the data. Conservatism (r = -.603, p < 0.05) and herding bias (r = -.703, p < 0.05) have a significant negative correlation with financial behavior. Financial self-efficacy has a significant positive correlation (r =.621. p < 0.050). Conservatism and herding predicted 60.5% and 62.2% of the variance, respectively. The direct and indirect paths between conservatism bias, financial self-efficacy, and financial behavior are significant. The paths between herding, financial self-efficacy and financial behavior are also significant. Ankita Mulasi, Jain Mathew, Kavitha Desai, 2022.
- Source
- Investment Management and Financial Innovations, Vol-20, No. 1, pp. 26-37.
- Date
- 2023-01-01
- Publisher
- LLC CPC Business Perspectives
- Subject
- behavioral finance; Bengaluru; conservatism; financial decision-making; financial selfefficacy; herding; India
- Coverage
- Mulasi A., School of Business and Management, CHRIST (Deemed to be University), India; Mathew J., School of Business and Management, CHRIST (Deemed to be University), India; Desai K., Department of Professional Studies, CHRIST (Deemed to be University), India
- Rights
- All Open Access; Gold Open Access
- Relation
- ISSN: 18104967
- Format
- Online
- Language
- English
- Type
- Article
Collection
Citation
Mulasi A.; Mathew J.; Desai K., “Predicting the financial behavior of Indian salaried-class individuals,” CHRIST (Deemed To Be University) Institutional Repository, accessed February 28, 2025, https://archives.christuniversity.in/items/show/14650.