PSYCHOLOGY OF RISK AND RETURN – PERSPECTIVES OF INDIAN WOMEN INVESTORS
• Women are increasingly seen as active agents of change, the dynamic promoters of social transformations that can alter lives of both women and men. – Amarty Sen (Renowned Economist from India). The origin of the Indian idea of appropriate female Behaviour is described by Manu in 200 BC: as “by a young girl, by a young woman, or even by an aged one, nothing must be done independent, even in her own house”. Their role typically restricted only for cooking, childcare, laundry, cleaning and the collection of water, fuel and wood. Women are continued to be excluded in social, economic and political domains. In settings where socio cultural norms restrict women’s mobility, their interactions with members of the opposite sex and their ability to attend trainings or receive formal education, women’s access to information, institutions and markets is compromised. Despite this, major changes have occurred in the status of women in India. Today’s women are outpacing men in several areas and have high offices including that of the president, Prime Minister, Chief Ministers and Governors of the states. Surprisingly investing is one such area which still proves gender gap between men and women. However, few studies have been carried out on gender differences in investment behaviour and women investment behaviour, it was evidenced from those studies that women are more risk averse than men. This study is an attempt to understand the psychology of Indian women towards Risk –Return characteristics of various investment avenues. For the purpose of study 480 Women investors have been surveyed and comprehensive view on their perspectives towards risk – return characteristics have been presented in this paper.