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Oct 2012/ Volume 2/Issue 10/Article No-5/1711-1724 ISSN: 2249-7196

INTERNATIONAL JOURNAL OF MANAGEMENT RESEARCH


AND REVIEW

AN EMPRICAL STUDY ON THE INVESTMENT BEHAVIOR AND INVESTMENT


DECISION MAKING RELATED TO THE FINANCIAL SITUATION OF WOMEN
INVESTORS WITH SPECIAL REFERENCE TO SELECTED CITIES IN
TAMIL NADU
Dr.V. Ramanujam*1, G.Ramkumar2
1
Assistant Professor, Bharathiar School of Management and Entrepreneur Development,
Bharathiar University, Coimbatore, Tamil Nadu, India.
2
Research Scholar, Bharathiar School of Management and Entrepreneur Development,
Bharathiar University, Coimbatore, Tamil Nadu, India.
ABSTRACT
This research paper is to reveal the investment behavior and investment decision making
related to the financial situation of the women respondents in selected cities in Tamil Nadu
including Madurai, Trichy, Tirunelveli and Salem. The study also includes evaluating the
investment knowledge along with the socio economic and demographic profile which effects
the behavior/attitude and also the investment decision making of the respondents. Some of
the recent study shows that the emotional and behavioral attitude involves a high uncertainty
in investment decision making. This study will helps in finding out the investment decision
making and the attitude of the women in stock market investment with special reference to
selected cities in Tamil Nadu.
Keywords: Investment behavior, Investment decision making, Investment knowledge.
INTRODUCTION
Investor behavior and the relations between investors and management practice have
acquired new significance because of the increased concentration of ownership, enforcement
of higher standards of financial responsibility, and investors grievances about some aspects
of management practices. Current literature studies such developments under the heading of
shareholder activism, involving different types of investors, including private trusts, private
equity investors and institutional investors.
Investor activism is the use of power by an investor to influence the management processes
or outcomes of a given portfolio company. Such interactions can be described as an
engagement process. Issues in investor activism and engagement processes are generally
addressed within a principal-agent framework, in which the owner is viewed as the principal
and the firms managers are the agent. However, the traditional arms-length approach
favored by the conventional finance model is over-simplified, relying mainly on the threat of
exit and executive incentive contracts as means of aligning the interests of owners and
managers. Other governance tools are necessary for the efficient reduction of agency costs
and risks. Investors can reduce problems of information asymmetry between managers and
*Corresponding Author www.ijmrr.com 1711
Oct 2012/ Volume 2/Issue 10/Article No-5/1711-1724 ISSN: 2249-7196

themselves by directly engaging with the company. Engagement therefore is a means of


matching investor expectations and actual company practice
Women are becoming popular in all fields and it is the same story in the Indian stock market
as well. Many successful investors in the stock market are women nowadays. The modern
women wants to save money for retirement and the stock market can help to achieve this
saving. The stock market needs one to be taking risks and, it wont work if you are too
conservative. You should learn to practice asset allotment and spread out your portfolio to get
maximum returns.
Women can follow the stock market with the help of internet connection as everything is
there online. There are many websites informing all the information needed for trading. You
can invest wisely and follow the market properly. As women by nature are cautious by
nature, so they are perfectly alright for the stock market trading conditions. You should have
up-to-date knowledge with the latest social, political, domestic and international news so that
you do not make any mistakes take financial decision at the right time. Those women who
start investing at the earliest they will observe that they can gather large fortune if the trends
in the stock market are their favor. You should start with small investments and if all goes
well make more investments.
REVIEW OF LITERATURE
Karthikeyan (2001) has conducted research on Small Investors' Perception on Post Office
Saving Schemes and found that there was significant difference among the four age groups,
in the level of awareness for Kisan Vikas Patra (KVP), National Savings Schemes (NSS), and
Deposit Scheme for Retired Employees (DSRE), and the overall score confirmed that the
level of awareness among investors in the old age group was higher than in those of the
young age group. No difference was observed between male and female investors except for
the NSS and KVP. Out of the factors analysed, necessity of life and tax benefits were the two
major ones that influence the investors both in semi-urban and urban areas. Majority (73.3
per cent) of investors of both semi-urban and urban areas were very much willing to invest in
small savings schemes in future provided they have more for savings.
Nicolosi G et al., (2009) analysed individual investors learning behaviour from two
perspectives, the first being based on the relation between trade performance and trading
behaviour and presented strong evidence that individual investors learn from their trading
experiences. Further they posit that not only do excess portfolio returns improve with account
tenure, but they also found that trade quality significantly increases with experience and
concluded that individual stock investors do learn, and they consequently adjust their
behaviour and thus effectively improve their future investment performance.
Mittal M and Vyas R.K (2008) explored the relationship between various demographic
factors and the investment personality exhibited by the investors. Empirical evidence
suggested that factors such as income, education and marital status affect an individuals
investment decision. Further the results revealed that investors in India can be classified into
four dominant investment personalities namely casual, technical, informed and cautions.

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Oct 2012/ Volume 2/Issue 10/Article No-5/1711-1724 ISSN: 2249-7196

Nagpal S and Bodla B.S. (2009) attempted to bring out the life-style characteristics of the
respondents through an empirical analysis and their influence on investment preferences and
found that in-spite of the phenomenal growth in the security market and quality IPOs, the
individual investors prefer less risky investments viz., life insurance policies, fixed deposits,
and post office savings, PPF and NSC. They also found that investors are in the trap of some
kind of cognitive illusions such as overconfidence and narrow framing. They considered
multiple factors and seek diversified information before executing some kind of investment
transaction. They further concluded that financial dailies, TV channel and peer groups can
play a pivotal role in making investment decisions and also psychographics play an important
role in determining investment behaviour and preferences of individual investors.
RESEARCH METHODOLOGY
Research Problem
As has been stated before, this paper is focus about the investment behavior and investment
decision making of the working women investors in selected cities in Tamil Nadu. This
paper question about the financial situation, investment knowledge, behavioral attitude and
decision making of the respondents towards their investment opportunities. Hence this paper
is aimed at analyzing the investment behavior and investment decision making towards their
financial situation of the respondents.
Research objectives
To identify the financial situation of the respondents.
To analysis the investment knowledge of the respondents.
To evaluate the behavioral attitude of the respondents toward investment.
To analysis the investment decision making of the respondents.
Research Design
The methodological approach employed in this study is essentially a empirical study.
Sampling design
The study is based on personal interview of women investors, using a structured
questionnaire. The questionnaires which are collected by distribution close ended
questionnaire to 100 respondents out which 76 respondents have replied (Madurai 30 out of
23 respondents, Tirchy 20 out of 14 respondents, Tirunelveli 20 out of 11 respondents and
Salem 30 out of 28 respondents). The present study is also used to identify the preferred
investment avenues among the women investors in stock market operation. The data has
been analyzed using simple statistical tools and to access the significant / association between
dependent variables, chi-square test and anova us used which are processed by statistical
software.
ANALYSIS AND INTERPRETATION
Cross tabulation between the place of trading with key Socio economic & demographic
variables:

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1. Classification of Place with age of the respondents:


The following table no 1 shows the cross tabulation between the place where the respondents
are trading with that of the age of the respondents. The place where the respondents are
trading is dived into the following categories namely Madurai, Trichy, Tirunelveli and
Salem.. Similarly the age of the respondents is category into following below 30 years, 30 to
40, 40 to 50 and 50 to 60 years.
Table No 1: Cross tabulation of Place / City with age

Place / City
Madurai Tirchy Tirunelveli Salem Total
Respondent below 9 5 3 13 30
age 30 (30%) (16.7%) (10%) (43.3%) (100%)
30-40 9 6 7 11 33
(27.3%) (18.2%) (21.2%) (33.3%) (100%)
40-50 4 3 1 3 11
(36.4%) (27.3%) (9.1%) (27.3%) (100%)
50-60 1 0 0 1 2
(50%) (0%) (0%) (50%) (100%)
Total 23 14 11 28 76
(30.3%) (18.4%) (14.5%) (36.8%) (100%)
Source: Primary data
The table no 1 shows that the cross tabulation between the place/city with that of the age of
the respondents, from the analysis it can be interpreted as, under the age group below 30 we
have (30%) from Madurai, (16.7%) from Trichy, (10%) from Tirunelveli and 43.3%) from
Salem. Similarly under the age group 30 to 40 years we have (27.3%) from Madurai,
(18.2%) from Trichy, (21.2%) from Tirunelveli and (33.3%) from Salem. Meanwhile under
40 to 50 age group we have (36.4%) from Madurai, (27.3%) from Trichy, (9.1%) from
Tirunelveli and (27.3%) from Salem. Further under 50 to 60 age group we have (50%) from
Madurai and (50%) from Salem.
2. Classification of Place/City with the marital status of the respondents:
The following table no 2 shows the cross tabulation between the place / city of the
respondents with that of the marital status of the respondents. In that the place where the
respondents are trading is dived into the following categories namely Madurai, Trichy,
Tirunelveli and Salem. Similarly the marital status of the respondents is categories into
unmarried, married and widow.

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Table No 2: Cross tabulation of Place/City with the marital status

City
Madurai Tirchy Tirunelveli Salem Total
Marital Unmarried 6 4 3 11 24
status (25%) (16.7%) (12.5%) (45.8%) (100%)
Married 16 10 7 16 49
(32.7%) (20.4%) (14.3%) (32.7%) (100%)
Widow 1 0 1 1 3
(33.3%) (0%) (33.3%) (33.3%) (100%)
Total 23 14 11 28 76
(30.3%) (18.4%) (14.5%) (36.8%) (100%)
Source: Primary data
The table no 2 reveals the cross tabulation between the place/city where the respondents is
trading with that of the marital status of the respondents. From the table it can be interpreted
married women are trading more when comparing the five place/city with (32.7%) in
Madurai, (20.4%) in Trichy, (14.3%) in Tirunelveli and (32.7%) in Salem. Similarly the
unmarried women are trading in a nominal percentage with (25%) in Madurai, (16.7%) in
Trichy, (12.5%) in Tirunelveli and (45.8%) in Salem. Furthermore by the analysis it can be
showed out that widow women are all making their presence in trading with (33.3%) in
Madurai, Tirunelveli and Salem.
3. Classification of Place with the level of education of the respondents:
The following table no 3 shows the cross tabulation between the place/city of the respondents
with their education qualification. The place where the respondents are trading is dived into
the following categories namely Madurai, Trichy, Tirunelveli and Salem. Meanwhile the
education qualification of the respondents is categories into Upto H.Sc, U.G and P.G.
Table No 3: Cross tabulation of Place with level of education

City
Madurai Tirchy Tirunelveli Salem Total
level of upto 3 0 1 1 5
education H.Sc. (60%) (0%) (20%) (20%) (100%)
U.G 13 10 9 17 49
(26.5%) (20.4%) (18.4%) (34.7%) (100%)
P.G 7 4 1 10 22
(31.8%) (18.2%) (4.5%) (45.5%) (100%)
Total 23 14 11 28 76
(30.3%) (18.4%) (14.5%) (36.8%) (100%)
Source: Primary data
The table no 3 shows the cross tabulation between the place/city of the respondents with that
of the level of education qualification. From the table it can be shows that the women
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respondents who completed their U.G shows more interest in trading when compared with
other with (26.5%) in a Madurai, (20.4%) in Trichy, (118.4%) in Tirunelveli and(34.7%) in
Salem. Secondly the respondents with P.G qualification shows a nominal interest in trading
with (31.8%) in Madurai, (18.2%) in Trichy, (4.5%) in Tirunelveli and (45.5%) in Salem.
Meanwhile the respondents who completed Upto H.Sc trading with (60%) in Madurai, (20%)
in Tirunelveli and Salem.
4. Classification of Place/City with Occupation of the respondents:
The following table no 4 reveals the cross tabulation between the place . The place where the
respondents are trading is dived into the following categories namely Madurai, Trichy,
Tirunelveli and Salem. Similarly the occupation of the respondents is categories into
Government, private, professional and business.
Table No 4: Cross tabulation of Place/City with Occupation

Place/City
Madurai Tirchy Tirunelveli Salem Total
Occupation Government 2 1 4 4 11
(18.2%) (9.1%) (36.4%) (36.4%) (100%)
Private 12 10 7 16 45
( 26.7%) (22.2%) (15.6%) (35.6%) (100%)
Professional 7 3 0 7 17
(41.2%) (17.6%) (0%) (41.2%) (100%)
Business 2 0 0 1 3
(66.7%) (0%) (0%) (33.3%) (100%)
Total 23 14 11 28 76
(30.3%) (18.4%) (14.5%) (36.8%) (100%)
Source: Primary data
The table no 4 shows the cross tabulation association between the place/city of trading with
that of the occupation of the respondents. From the analysis, it can be shown that majority of
the respondents belong to private sector trade more than other with (26.7%) in Madurai,
(22.2%) in Tirchy, (15.6%) in Tirunelveli and (35.6%) in Salem. Secondly, the respondents
belongs to professional with (41.2%) in Madurai and Salem, and (17.6%) in Tirchy.
Meanwhile some of the respondents belonging to government organization show a nominal
response with (18.2%) in Madurai, (9.1%) in Tirchy, (36.4%) in Tirunelveli and Salem.
Furthermore only a least number of respondents belong to business categories shows interest
to trade.
5. Classification of Place with Job designation of the respondents:
The following table no 5 shows the cross tabulation between the place/city of trading with
that of job designation of the respondents. The place where the respondents are trading is
dived into the following categories namely Madurai, Trichy, Tirunelveli and Salem. The job
designation of the respondents is categories into top level (above manager cadre), Middle
level (Manager cadre) and lower level (below manger cadre).
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Table No 5: Cross tabulation of Place/City with Job designation


City
Madurai Tirchy Tirunelveli Salem Total
Job of Top 5 2 3 6 16
designation level (31.3%) (12.5%) (18.8%) (37.5%) (100%)
Middle 11 8 7 15 41
level (26.8%) (19.5%) (17.1%) (36.6%) (100%)
lower 7 4 1 7 19
level (36.8%) (21.1%) (5.3%) (36.8%) (100%)
Total 23 14 11 28 76
(30.3%) (18.4%) (14.5%) (36.8%) (100%)
Source: Primary data
The table no 5 shows the cross tabulation between the place/city of trading with that of the
job designation of the respondents. In that the respondents belongs to the middle level shows
a majority of interest in trading with (26.8%) in Madurai, (19.5%) in Tirchy, (17.1%) in
Tirunelveli and (36.6%) in Salem. Meanwhile the respondents belongs to lower level shows
a nominal interest with (36.8%) in Madurai, (21.1%) in Tirchy, (5.3%) in Tirunelveli and
(36.8%) in Salem. Furthermore by the analysis the respondents belonging to top level shows
only a least interest with (31.3%) in Madurai, (12.5%) in Tirchy, (18.8%) in Tirunelveli and
(37.5%) in Salem.
6. Classification of Place with the Year of experience in job of the respondents:
The following table no 6 shows the cross tabulation between the place/city of trading with
that of the job experience of the respondents. The place where the respondents are trading is
dived into the following categories namely Madurai, Trichy, Tirunelveli and Salem. The job
experience of the respondents is categories into below 5, 5 to 10, 10 to 15, 15 to 20 and above
20 years.
Table No 6: Cross tabulation of Place/City with Year of experience in job
Place/City
Madurai Tirchy Tirunelveli Salem Total
year of below 14 7 5 14 40
experience 5 years (35%) (17.5%) (12.5%) (35%) (100%)
in 5-10 1 2 3 2 8
occupation (12.5%) (25%) (37.5%) (25%) (100%)
10-15 6 3 2 9 20
(30%) (15%) (10%) (45%) (100%)
15-20 0 1 1 1 3
(0%) (33.3%) (33.3%) (33.3%) (100%)
20 & 2 1 0 2 5
above (40%) (20%) (0%) (40%) (100%)
Total 23 14 11 28 76
(30.3%) (18.4%) (14.5%) (36.8%) (100%)
Source: Primary data
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The table no 6 reveals the cross tabulation between the place/city of trading with that of the
job experience of the respondents. From that the majority of the respondents below 5 years
of experience shows more interest with (35%) in Madurai and Salem, (17.5%) in Tirchy and
(12.5%) in Tirunelveli. Meanwhile the respondents with 10 to 15 years of experience shows
the a nominal responses with (30%) in Madurai, (15%) in Tirchy, (10%) in Tirunelveli and
(45%) in Salem. Furthermore from the analysis it can be shown that a very least number of
respondents have responded under the group 5 to 10 years of experience with (12.5%) in
Madurai, (25%) in Trichy and Salem, (37.5%) in Tirunelveli and the respondents under above
20 years of experience with (40%) in Madurai and Salem, and (20%) in Tirchy.
7. Classification of Place/City with the gross annual income level of the respondents:
The following table no 7 shows the cross tabulation between the place/city of trading with
that of annual gross income level of the respondents. The place where the respondents are
trading is dived into the following categories namely Madurai, Trichy, Tirunelveli and Salem.
The annual gross income of the respondents are categories into below 5 lacks, 5 to 10 lacks,
10 to15 lacks and above 20 lacks.
Table No 7: Cross tabulation of Place/City with the gross annual income level

Place/City
Madurai Tirchy Tirunelveli Salem Total
gross below 5 18 13 11 21 63
annual (28.6%) (20.6%) (17.5%) (33.3%) (100%)
income 5-10 1 1 0 1 3
(in lacks) (33.3%) (33.3%) (0%) (33.3%) (100%)
10-15 2 0 0 4 6
(33.3%) (0%) (0%) (66.7%) (100%)
20 & 2 0 0 2 4
above (50%) (0%) (0%) (50%) (100%)
Total 23 14 11 28 76
(30.3%) (18.4%) (14.5%) (36.8%) (100%)
Source: Primary data
The table no 7 shows the cross tabulation between the place/city of trading with that of the
annual gross income of the respondents. From the table it can be shown that the respondents
with a annual gross income below 5 lacs show their major participation in trading with
(28.6%) in Madurai, (20.6%) in Tirchy, (17.5%) in Tirunelveli and (33.3%) in Salem.
Furthermore from the analysis it can be interpreted that as only a least number of respondents
are interested with the income between 5 to 10, 10 to 15 and above 20 lacks as their gross
annual income
8. One way anova between the Place/City with the financial situation of the
respondents:

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The table no 8 shows the descriptive statistics of the financial situation of the respondents
belonging to various cities/ places. The mean value seems to be similar for all the four
category and to see any statistical significance one way anova was run
Table No 8: Descriptive statistics of Place/City with the financial situation
Place/City of the respondent N Mean Std. Deviation Std. Error

Madurai 23 2.2681 .58762 .12253


Tirchy 14 2.5119 .21147 .05652
Tirunelveli 11 2.7424 .29215 .08809
Salem 28 2.4524 .47327 .08944
Total 76 2.4496 .47377 .05435
Source: Primary data
Null Hypothesis H0: The financial situation remains to be same across all the four categories
of investors based on their place of trading.
Table No 9: Anova of Place with financial situation
Sum of Squares df Mean Square F Decision
Between 1.755 3 .585 2.794 Not
Groups Significance
Within 15.079 72 .209
Groups
Total 16.834 75
Source: Primary data
From the table no 9 it is inferred that there is no significance difference between the investors
of different places/cities in their financial situation. Hence the null hypothesis is accepted.
9. One way anova between the Place/City with the Investment knowledge of the
respondents:
The following table no 10 and 11 is the anova for finding the association between the
place/city of the respondents with that of the investment knowledge of the respondents.
Table No 10: Descriptive statistics of place/city with investment knowledge
Place/City of the respondent N Mean Std. Deviation Std. Error

Madurai 23 1.9565 .52517 .10951


Tirchy 14 2.2143 .28815 .07701
Tirunelveli 11 2.3788 .19848 .05984
Salem 28 2.1190 .44411 .08393
Total 76 2.1250 .43727 .05016
Source: Primary data

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From the table no 10 it could be inferred that the mean value is almost same across all the
four category of the respondents based on their place/city of trading.
Null Hypothesis H0: The investment knowledge remains the same across all the four
category of investors based on their place/city of trading.
Table No 11: Anova of Place/City with Investment knowledge
Sum of Squares df Mean Square F Decision
Between Groups 1.474 3 .491 2.749 Not
Within Groups 12.866 72 .179 Significance
Total 14.340 75
Source: Primary data
From the table no 11 it could be inferred that the calculated F value is not significant @ 5
percent level of significance and hence the null hypothesis is accepted.
10. One way anova between the Place/City with the behavioral attitude of the
respondents:
The following table no 12 and 13 shows the association of anova between the place/city of
trading done by the respondents with that of the behavioral attitude of the respondents.
Table No 12: Descriptive statistics of Place/City with the behavioral attitude
Place/City of the respondent N Mean Std. Deviation Std. Error

Madurai 23 1.8152 .70541 .14709


Tirchy 14 1.5679 .19573 .05231
Tirunelveli 11 1.5273 .27601 .08322
Salem 28 1.8625 .50417 .09528
Total 76 1.7454 .52321 .06002
Source: Primary data
From the table no 12 it could be inferred that the behavioral attitude of the respondents will
get vary when compared with their place/city of trading.
Null Hypothesis H0: The behavioral attitude of the respondents will be same when compared
with the place/city of trading done by the respondents.
Table No 13: Place with the behavioral attitude
Sum of Squares df Mean Square F Decision
Between Groups 1.461 3 .487 1.838 Not
Within Groups 19.070 72 .265 Significance
Total 20.531 75
Source: Primary data
From the table no 13 it could be inferred that the F value is not significant at the 5 percent
level and hence the null hypothesis is accepted.
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11. One way anova between the Place/City with the investment decision making of the
respondents:
The following table no 14 and 15 shows the association of anova between the place/city in
which the respondents carrying out their trading with that of the investment decision making.
Table No 14: Descriptive statistics of Place/City with the investment decision making
Place/City of the respondent N Mean Std. Deviation Std. Error

Madurai 23 1.5994 .77882 .16239


Tirchy 14 1.1173 .31772 .08491
Tirunelveli 11 .9286 .33043 .09963
Salem 28 1.5408 .64078 .12110
Total 76 1.3919 .65179 .07477
Source: Primary data
From the table no 14 it can be inferred that except for the respondents form Tirunelveli all
others have more or less same decision making level in investment.
Null Hypothesis H0: The investment decision making remains the same across all the four
categories of respondents based on their place of doing investments.
Table No 15: Anova of Place/City with the investment decision making
Sum of Squares df Mean Square F Sig. Decision
Between 5.028 3 1.676 4.497 .006 Not
Groups Significant
Within 26.834 72 .373
Groups
Total 31.862 75
Source: Primary data
From table no 15 it can be inferred that the F value is not significant at 5 percent level and
thus the null hypothesis is accepted.
FINDINGS
The followings shows that the association between the place/city with that of the age of
the respondents, from the analysis it can be interpreted as, under the age group below 30 we
have (30%) from Madurai, (16.7%) from Trichy, (10%) from Tirunelveli and 43.3%) from
Salem shows a majority of responses when compared with the remaining age group of
respondents in different place/city.
The following reveals married women are trading more when comparing the five
place/city with (32.7%) in Madurai, (20.4%) in Trichy, (14.3%) in Tirunelveli and (32.7%) in
Salem when compared with that of unmarried and widow category .
The following shows that the women respondents who completed their U.G shows more
interest in trading when compared with other with (26.5%) in a Madurai, (20.4%) in Trichy,

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(118.4%) in Tirunelveli and(34.7%) in Salem. Meanwhile the respondents with the


qualification of P.G and Upto H.sc only shows a nominal responses.
The following shows that majority of the respondents belong to private sector trade more
than other with (26.7%) in Madurai, (22.2%) in Tirchy, (15.6%) in Tirunelveli and (35.6%) in
Salem. Furthermore the remaining category like profession, business and the respondent
working in government organization shows a least interest in trading.
The following reveals that the respondents belongs to the middle level in job designation
shows majority of interest in trading with (26.8%) in Madurai, (19.5%) in Tirchy, (17.1%) in
Tirunelveli and (36.6%) in Salem. Meanwhile the respondents belonging to lower and higher
level in job designation shows a nominal interest.
The following reveals that the majority of the respondents below 5 years of experience
shows more interest with (35%) in Madurai and Salem, (17.5%) in Tirchy and (12.5%) in
Tirunelveli. Meanwhile from the analysis the respondents with more experience show only a
least interest in trading.
The following shows that the respondents with a annual gross income below 5 lacs show
their major participation in trading with (28.6%) in Madurai, (20.6%) in Tirchy, (17.5%) in
Tirunelveli and (33.3%) in Salem. Furthermore from the analysis it can be interpreted that as
only a least number of respondents are interested with the income between 5 to 10, 10 to 15
and above 20 lacks as their gross annual income
From the following it is inferred that there is no significance difference between the
investors of different places/cities in their financial situation. Hence the null hypothesis is
accepted.
From the following it could be inferred that the calculated F value is not significant @ 5
percent level of significance and hence the null hypothesis is accepted.
From the following it could be inferred that the F value is not significant at the 5 percent
level and hence the null hypothesis is accepted.
From the following it can be inferred that the F value is not significant at 5 percent level
and thus the null hypothesis is accepted.
SUGGESTIONS
This study reveals the investment behavior and investment decision making of the working
women managers related to the financial situation with reference to the selected cities in
Tamil Nadu. From the study it could be suggested that women should take some risk in the
investment, which give them a more knowledge in making out the correct and perfect
judgment for their future investment. The women investors also need to mobilize them with
regards to the men investors in the stock market investment
CONCLUSION
The present study developed a conceptual framework to evaluate the relationship between
financial situation with the investment decision making and attitude of the respondents.
Results indicate that investors may potentially influence the financial situation. Of these,
horizon appears to be the most critical area of influence investment knowledge and
investment decision making of the investors, followed by the socio economic profile of the
Copyright 2012 Published by IJMRR. All rights reserved 1722
Oct 2012/ Volume 2/Issue 10/Article No-5/1711-1724 ISSN: 2249-7196

investors. Further the study research will establish the exact nature and scope of such
interrelationship. It will also indicate the importance on improving the investment knowledge
and the participation towards women in stock market operations.
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