At the time of investment investors’ emotional inclinations, ingrained thought patterns, psychological biases, and other factors may affect their investment behaviour. In this context the research work has made an analysis of individual investors behavior of stock market and main focusof the study is to analyse the effect of demographic factors and investor awareness on the individual investor behaviour and the study is done by using the primary data collected from the selected stock market investors in Purba and Paschim Medinipur district in West Bengal. The results of the association between demographic factors and individual investor behaviour using chi-square test shows that age, educational background and experience has significant effect on the individual investor behaviour in all dimensions. But at the same time occupation has significant effect only on heuristics, prospects and herding dimensions and there is no effect of occupation on the market dimension of individual investor behaviour in stock market in the selected districts. While annual income has significant effect on prospect and herding dimensions but no significant effect on heuristics and market dimensions of investor behaviour in stock market. Analysis of the association between investor awareness and individual investor behaviour shows that knowledge of stock market of an individual investor, following stock market news on T.V and attending seminars affects only his/ her heuristics, markets and herding behaviour but it does not affect on prospects behaviour of individual investor in Purba and Paschim Medinipur district in West Bengal. Further, the issue of following websites of the NSE or BSE affects individual investor behaviour in stock market on heuristics, markets and herding behaviour but it does not affect on herding behaviour of individual investor in stock market in this two districts. Consultation with licensed brokers or any other intermediary for getting financial advice affect individual investor behaviour in stock market on prospects and markets dimensions but not on heuristics and herding.
Stock Market, Behavioural Finance, Demographic Factors, Investor Awareness
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