Dissecting investment frequency: examining the role of social influence, investors’ perception of gender discrimination, involvement, access to information and risk tolerance
Abstract
Purpose
The recent economic changes in India and the gender discrimination practices of the patriarchal society have forced Indian women to turn to the financial sector as an essential means of generating returns. This study aims to identify the factors influencing investors’ investment frequency in India’s two most recognized metropolitan areas.
Design/methodology/approach
The authors applied structural equation modeling to augment Allport’s consumer behavior model and the social influence theory for assessing the frequency of investments made by 690 investors. The direct and indirect linkages in the proposed model were evaluated using moderation and mediation techniques.
Findings
The study’s findings show that investors’ perceptions of gender discrimination practices and social influence considerably increase investors’ involvement, magnifying their investment frequency. In addition, access to reliable information reinforces the relationship between investors’ involvement and their frequency of investments, whereas the low-risk tolerance weakens this association.
Research limitations/implications
The findings could help policymakers, investors, financial media outlets, financial experts, educational institutions and society strengthen India’s financial sector by leveraging the linkage between the underlying constructs and investors’ behavior.
Originality/value
The aspects of involvement and gender inequality have not garnered enough attention in the previous studies on behavioral finance. The study delves deeper into investor behavior by establishing a link between the underlying constructs and broadening the horizons of prominent consumer behavior models. It also unfurls the moderating role of access to information and risk tolerance to comprehend the association better.
Keywords
Acknowledgements
The authors thank the esteemed associate editor and reviewers for their valuable suggestions in improving the quality of the manuscript.
Funding acknowledgment: The authors received funding from the Institution of Eminence (IoE), Banaras Hindu University, India, to conduct this research (Grant Number: No. R/Dev/D/loE/Seed Grant/2022-23/).
Citation
Singh, A. and Biswas, A. (2024), "Dissecting investment frequency: examining the role of social influence, investors’ perception of gender discrimination, involvement, access to information and risk tolerance", Social Responsibility Journal, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/SRJ-11-2023-0671
Publisher
:Emerald Publishing Limited
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