A Study on Behavioural Finance and its Impact on Investment Decisions Made by Investors in Bikaner
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Abstract
Behavioral finance, an emerging field, examines how psychological factors influence decision-making in uncertain situations. Understanding behavioral finance is crucial for gaining insight into investors' mindsets and their approach to various investment opportunities. This study aims to investigate the influence of key behavioral finance concepts such as overconfidence, perception, representativeness, anchoring, cognitive dissonance, regret aversion, narrow framing, and mental accounting on individual investors' decision-making processes in the stock market. Using a structured questionnaire, we conducted primary research involving 181 investors in Bikaner to achieve our primary objective of assessing the impact of behavioral finance on investors and exploring its relevance in their investment decisions. Additionally, we aimed to identify factors influencing investors' decisions and to delve into the various theories and concepts of behavioral finance as secondary objectives of our study.
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