influence of demographic factors on...

Volume 4, Number 3, July – September’ 2015

ISSN (Print):2279-0977, (Online):2279-0985

PEZZOTTAITE JOURNALS SJIF (2012): 3.23, SJIF (2013): 5.057, SJIF (2014): 5.871

International Journal of Applied Services Marketing Perspectives© Pezzottaite Journals. 1783 |P a g e

INFLUENCE OF DEMOGRAPHIC FACTORS ON INVESTMENTS OF BANK EMPLOYEES

K. V. Ramanathan31 Dr. K. S. Meenakshi Sundaram32

ABSTRACT

Investment behaviour of individuals differs based on their decision for investment. Safety, security and Liquidity are the most

important aspects considered while investing. Investment behaviour reveals how the individual investor allocates the surplus

funds to various instruments that are available. The Investment behaviour is searching, evaluating, acquiring, reviewing of

investment products and if need be, disposing of such investment products for attaining maximum satisfaction out of the

investments made. While making investment, the selection of investment is important. Proper selection would result in

complete satisfaction and helps in creating and maintaining a good portfolio of the investors.

This paper attempts to study the impact of the demographic factors towards selection of Investment and to know the level of

satisfaction of the investors. The study is based on primary source of data collected by distribution of a structured

questionnaire from 160 bank employees. The data has been analyzed using percentage analysis, chi-square test with the help

of statistical tools.

KEYWORDS

Investors Behaviour, Investment, Return On Investment, Value For Investment, Social Factors, Economic Factors etc.

INTRODUCTION

Investment refers to the deployment of funds in various investments with an aim to get income and growth in value of the

investment over a period. Investment in its broad sense means the sacrifice of certain present value for uncertain future value. A

distinction is often made between investment and savings. Savings is defined as foregone consumption; investment increases

national output in the future. In other words, saving refers to preserving of money for future use while investment refers to

utilizing the same for productive purpose where there is an element of risk. Today Investors have various attractive avenues, both

in national and international markets. Every investor will aim for maximizing the return and minimizing the risk for the

Investment made by him. Investors differ in their pattern of investment, objectives perceived, preferences and the satisfaction

derived out of the investments. In addition, the tenure of investment plays a vital role in ascertaining the above factors. Selection

of an investment would be made duly considering various factors such as return on investment, value for investment, social

factors and economic factors. Hence, a study on investment selection process and level of satisfaction thus assumes a greater

importance in the formulation of policies for the development of the investments. It is extremely important for the policy makers

and regulatory authorities to understand the investors‟ perceptions, preferences and their concern on the market.

LITERATURE REVIEW

Bhawna Bharadwaj, Nisha Sharma & Dipanker Sharma (2013) had carried out the study titled “Income, saving and

investment pattern of employees of Bahra University, Solan”, with an objective to analyze the pattern of investment, to study the

income, consumption and savings pattern of employees and to evaluate the awareness level in industrial securities. The study was

carried out with a sample of 100 respondents comprising of both teaching and non-teaching staffs. The study concluded with a

cross tabulation that knowledge about securities and income level reveals that as the income of the employee‟s increases,

awareness about securities also increases. The study also revealed that majority of the employees have knowledge about the

industrial securities, majority of the employees are aware of industrial securities but only few of them are investing invite Further,

analysis shows that some employees have invested in equity shares and very few in debentures while most of the employees do

not invest in industrial securities. Further, none of the employees is satisfied with such investments.

Lubna Ansari & Sana Moid (2013) has studied “Factors affecting investment behaviour among young professionals” who are in

the age bracket of 25 to 35 years with a sample of 200 respondents with an objective to ascertain the factors that affect investment

behaviour of young investors, degree of correlation between age and investing activities, saving objective of the investors. The

study was conducted with a structured questionnaire across Lucknow region. The study revealed that the young professionals‟

investment is independent of age, income and gender. It was concluded majority of the investors consider risk factors and

volatility of stock market before investing in the market.

31Research Scholar, SCSVMV University, Tamil Nadu, India, [email protected] 32Professor & Director, CAA, Great Lakes Institute of Management, Tamil Nadu, India, [email protected]

mailto:[email protected]

mailto:[email protected]





Alagu Pandian V., & Thangadurai G (2013) studied the investors preferences towards various investment avenues in Dehradun

district with a sample of 120 respondents and objective to understand the awareness of people towards various investment avenues

and to analyze the investor‟s preference towards various investment avenues in Dehradun district and to offer suitable suggestions

to promote investments. The study revealed that age is an important factor, which influences the behaviour of the individual

investors, and the investing ability also differs according to the age of investors and young investors prefer to invest and take more

Risk. Occupation is one of the important deciding factors in the investor‟s behavior in making investment. People are investing

irrespective of their occupation and the study reveals that most of the investor is businessmen. Money is the important factor while

making investment decisions and the investable amount depends upon the monthly income of the family. Regarding the

investment options majority of the investors have made their investment only in banks. It was also confirmed with chi-square test

that there is no relationship between level of incomes and level of awareness.

Baburaju K Bhatt & Apurva A Chauhan (2014) has taken up a study on investor‟s perception towards derivatives as an

investment avenue with the objective to study the investor‟s perception towards derivatives and to identify the factors, which

affect the investment decision in derivatives. The data was collected using convenient sampling method from retail investors‟

from Navsari city, who invest in stock market with a structured questionnaire. The study revealed that the investors invest in

derivative market based on their own awareness, guidance from broker and financial advisor. Most of the investors also preferred

to invest in stock index fund rather than individual stock. Retail investors have disagreed that derivatives are appropriate only for

institutional investors. It was also confirmed that there was a significant positive correlation between age of the respondents and

their decision to invest in derivatives and negative correlation between annual incomes of the respondents with their decision to

invest in derivatives. The researcher conducted Friedman test and the result shows that investors give more preference to some

factors such as risk control, hedging fund, their own knowledge regarding financial product and high volatility in the stock market

etc. while taking decision to invest in derivatives.

Abdul Majeeb Pasha Shaik, Murty T N, Vamsee Krishna R & Hemantha Gopi Kiran V (2012) had undertaken a study titled

“Investment objectives of the retail equity investors in India”, with a sample of 500 respondents in various areas of krishna district

in Andhra Pradesh through a survey of structured questionnaire and an objective to know the investment pattern of the Indian

retail equity investors in general and investment preferences, risk-return perceptions and to analyses the level of importance

assumed by the retail equity investors on various investment objectives based on socio economic variables and selective

investment profile factors of various classes of investors based on demographic factors. The study reveals that there is a

significant difference in the average scores of different classes of investors with regard to the level of importance assumed by

them on various investment objectives. Based on analysis researchers are in position to understand and assumed that most of our

Indian investors‟ psychological tendencies are same. Investors should make up their mind-set before taking investment decisions.

From the study, it is also concluded that retail equity investors should understand that, they should develop a clear investment

objective with long-term investment perspective/orientation, based on fundamental analysis of various equity stocks, while

making their investment.

Tomola Marshal Obamuyi (2013) has undertaken a study titled “Factors influencing investment decisions in Capital Market: A

study of individual investors in Nigeria” with an objective to identify and prioritize the factors influencing investment decisions of

investors in the Nigerian capital market and to investigate the effect of socio-economic characteristics of investors on any of the

most affecting factors. The structured questionnaire was distributed to a sample of 320 respondents, out of which 297 valid

responses were received from the respondents and taken as sample for the study. The study revealed that investment decisions of

investors in Nigeria are influenced by certain identified factors. The most important principal factors are past performance of the

company stock, expected stock split/capital increases/bonus, dividend policy, expected corporate earnings and get-rich-quick.

These factors were significantly influenced by gender, age, marital status and educational qualification of investors in the Nigerian

capital market. Specifically, the investment decisions of investors relating to past performance of the company‟s stock differ based

on their socio-economic characteristics (age, gender, marital status and educational qualification).

OBJECTIVE OF STUDY

The above literature review reveals that there were many research carried out on analyzing the factors influencing the investment

behaviour of an individual of various sectors. However, it could be noticed that no such reports are available on the behaviour of

bank employees and hence an attempt has been made in this study to analyses the selection process and the satisfaction level of

the Bank employees against their investments. Following are the objectives for this study.

To study the profile of the respondents.

To study the significance of demographic factors influencing the selection of investment by the respondents.

To study the significance of demographic factors influencing the level of satisfaction for the investments made by the

respondents.





METHODOLOGY OF RESEARCH

The research methodology depicts the flow of the research process and serves as guidance for the research to carry out the

research study. It comprises of data source, sample size, sampling techniques and tools of analysis. In this research study, the

researcher has used the primary data obtained from 160 respondents working in banking sector.

Research Strategy

Research Design

Study Population

Population Source

Study Area

Sample Frame

Sampling Unit

Sampling Method

Sample Size

Nature of Data

Sources of Primary Data

Sources of Secondary Data

Tool used for Data collection

Type of Questions

Establishing Validity

Test of Reliability

Statistical Tools Used

Descriptive Research

Private sector Bank Employees

Reserve Bank of India – Statistics as of Mar 2013.

Various cities in India.

Private sector Bank Employees

Persons aged between 21 and 60 working at various levels of Management.

Persons working in Private sector Banks

Convenient sampling

160 Investors

Both Primary and Secondary

Survey method through Questionnaire

Journals, Magazines, Previous Research Reports & Websites

Pre tested and Structured Questionnaire

Close ended, Multiple choice

Carried out to check Validity of constructed Questionnaire

0.62 (62%) Alpha

1. Percentage analysis

2. Chi-square test

Hypothesis

H01: There is no significant relationship between demographic factors and selection of investments made by the investors.

H02: There is no significant relationship between demographic factors and satisfaction level on investments.

DATA ANALYSIS AND INTERPRETATION

Primary data was collected through questionnaire, comprising of various parameters, from the respondents. The information

generated through the survey is being reported through the tabulation of categorical variables and the results are discussed below:

Demographic Profile: The demographic variables taken into account in this study include age, gender, marital status, educational

level, grade, annual income and annual income. The following tables show the percentage analysis of these demographic

variables.

Table-1: Demographic Profile of the Respondents

Demographic

Profile Particulars Total % age

Demographic

Profile Particulars Total % age

Age

21-30 19 11.9%

Grade

Junior Management 27 16.9%

31-40 76 47.5% Middle Management 120 75.0%

41-50 50 31.3% Senior Management 13 8.1%

51-60 15 9.4% Grand Total 160 100.0%

Grand Total 160 100.0%

Income

Rs.0-5Lakhs 38 23.8%

Gender

Male 129 80.6% Rs.5-10Lakhs 59 36.9%

Female 31 19.4% Rs.10-15Lakhs 45 28.1%

Grand Total 160 100.0% > Rs.15Lakhs 18 11.3%

Marital

Single 20 12.5% Grand Total 160 100.0%

Married 140 87.5%

Investment

Rs.0-2.5Lakhs 87 54.4%

Grand Total 160 100.0% Rs.2.5-5Lakhs 43 26.9%

Qualification

Graduate 52 32.5% Rs.5-7.5Lakhs 19 11.9%

Post Graduate 64 40.0% > Rs.7.5Lakhs 11 6.9%

Professional 44 27.5% Grand Total 160 100.0%

Grand Total 160 100.0%

Sources: Authors Compilation





According to the table-1 above, following inferences are made:

The proportion of male respondents was 80.6% and that of the female respondents was 19.4%. 47.5% of the respondents are in the

age group 31-40 and 31.3% of the respondents are in the age group of 41-50, which indicates majority of the respondents are in

the middle age group. 87.5% of the respondents are married and the remaining is single in status. Postgraduates constitutes 40.0%

of the investors and 32.5% comprises of graduates and the balance 27.5% are professionally qualified respondents. 75% of the

respondents are in the middle management and 16.9% of them are in the junior management and the balance in senior

management. More than 50% of the investors were investing between Rs.0-2.5 Lakhs and 26.9% of the investors were investing

between Rs.2.5-5 Lakhs.

Table-2: Observed Details between Demographic Variables and Investment

Particulars

Rs.0-2.5

Lakhs

Rs.2.5-5

Lakhs

Rs.5-7.5

Lakhs

> Rs.7.5

Lakhs Total

Age

21-30 13 5 1 0 19

68.4% 26.3% 5.3% 0.0% 100.0%

14.9% 11.6% 5.3% 0.0% 11.9%

31-40 44 22 5 5 76

57.9% 28.9% 6.6% 6.6% 100.0%

50.6% 51.2% 26.3% 45.5% 47.5%

41-50 24 11 10 5 50

48.0% 22.0% 20.0% 10.0% 100.0%

27.6% 25.6% 52.6% 45.5% 31.3%

51-60 6 5 3 1 15

40.0% 33.3% 20.0% 6.7% 100.0%

6.9% 11.6% 15.8% 9.1% 9.4%

Grand Total 87 43 19 11 160

54.4% 26.9% 11.9% 6.9% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Gender

Male 70 33 17 9 129

54.3% 25.6% 13.2% 7.0% 100.0%

80.5% 76.7% 89.5% 81.8% 80.6%

Female 17 10 2 2 31

54.8% 32.3% 6.5% 6.5% 100.0%

19.5% 23.3% 10.5% 18.2% 19.4%

Grand Total 87 43 19 11 160

54.4% 26.9% 11.9% 6.9% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Marital

Single 16 3 1 0 20

80.0% 15.0% 5.0% 0.0% 100.0%

18.4% 7.0% 5.3% 0.0% 12.5%

Married 71 40 18 11 140

50.7% 28.6% 12.9% 7.9% 100.0%

81.6% 93.0% 94.7% 100.0% 87.5%

Grand Total 87 43 19 11 160

54.4% 26.9% 11.9% 6.9% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Qualification

Graduate 33 10 7 2 52

63.5% 19.2% 13.5% 3.8% 100.0%

37.9% 23.3% 36.8% 18.2% 32.5%

Post Graduate 34 20 5 5 64

53.1% 31.3% 7.8% 7.8% 100.0%

39.1% 46.5% 26.3% 45.5% 40.0%

Professional 20 13 7 4 44

45.5% 29.5% 15.9% 9.1% 100.0%

23.0% 30.2% 36.8% 36.4% 27.5%

Grand Total 87 43 19 11 160

54.4% 26.9% 11.9% 6.9% 100.0%





Particulars

Rs.0-2.5

Lakhs

Rs.2.5-5

Lakhs

Rs.5-7.5

Lakhs

> Rs.7.5

Lakhs Total

100.0% 100.0% 100.0% 100.0% 100.0%

Cadre

Junior Management 19 5 1 2 27

70.4% 18.5% 3.7% 7.4% 100.0%

21.8% 11.6% 5.3% 18.2% 16.9%

Middle Management 67 35 14 4 120

55.8% 29.2% 11.7% 3.3% 100.0%

77.0% 81.4% 73.7% 36.4% 75.0%

Senior Management 1 3 4 5 13

7.7% 23.1% 30.8% 38.5% 100.0%

1.1% 7.0% 21.1% 45.5% 8.1%

Grand Total 87 43 19 11 160

54.4% 26.9% 11.9% 6.9% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Income

Rs.0-5Lakhs 10 1 0 0 11

90.9% 9.1% 0.0% 0.0% 100.0%

11.5% 2.3% 0.0% 0.0% 6.9%

Rs.5-10 Lakhs 44 9 1 1 55

80.0% 16.4% 1.8% 1.8% 100.0%

50.6% 20.9% 5.3% 9.1% 34.4%

Rs.10-15Lakhs 27 20 4 3 54

50.0% 37.0% 7.4% 5.6% 100.0%

31.0% 46.5% 21.1% 27.3% 33.8%

> Rs.15Lakhs 6 13 14 7 40

15.0% 32.5% 35.0% 17.5% 100.0%

6.9% 30.2% 73.7% 63.6% 25.0%

Grand Total 87 43 19 11 160

54.4% 26.9% 11.9% 6.9% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%


Following inferences could be drawn from the above table-2

More than 50% of the investors were investing between Rs.0-2.5 Lakhs per annum followed by 26.9% of the investors

investing between Rs.2.5-5 Lakhs per annum.

47.5% of the respondents are in the age group of 31-40 years following by 31.3% of the respondents in the age group of

41-50 years.

50.7% of the married investors invest between Rs.0-2.5 Lakhs and 28.6% of the investors have their investment between

Rs.2.5 – 5 Lakhs and the balance investors invest more than Rs.5 Lakhs

63.5% of the graduates, 53.1% of the postgraduates and 45.5% of the professionals invest between Rs.0-2.5 Lakhs.

Majority of the investors are postgraduates (40.0%) and graduates (32.5%) takes the second position and the balance are

professionally qualified investors.

70.4% and 55.8% of the investors are in junior management and middle management respectively invests between Rs.0-

2.5 Lakhs while 38.5% of the investors in the senior management invest more than Rs.7.5 Lakhs.

Table-3: Relationships between the Demographic Factors and Investment

Demographic Factors Chi-square

Value

Degree of

Freedom

Table

Value

Significant /

not significant

Age 10.7401 9 16.9190 Not significant

Marital Status 6.4408 3 7.8150 Not significant

Gender 1.3785 3 7.8150 Not significant

Educational Qualification 5.8477 6 12.5920 Not significant

Grade 34.0304 6 12.5920 Significant

Income 61.4571 9 16.9190 Significant






Table-3 shows that, chi-square test at 5% level of significance has been conducted using the data collected to verify the significant

relationship between demographic factors and investment of the respondents. The results of the analysis elucidates that the

variable like grade and income are significantly associated with amount of investment whereas variables like age, marital status,

gender, educational qualification are not significantly associated with the investment.

Table-4: Observed Details between Demographic Variables and Factors for Investment Decision

Particulars

Return on

Investment

Value for

Investment

Social

Factors

Economic

Factors Total

Age 21-30 13 5 1 0 19

68.4% 26.3% 5.3% 0.0% 100.0%

10.6% 16.1% 25.0% 0.0% 11.9%

31-40 58 14 3 1 76

76.3% 18.4% 3.9% 1.3% 100.0%

47.2% 45.2% 75.0% 50.0% 47.5%

41-50 42 7 0 1 50

84.0% 14.0% 0.0% 2.0% 100.0%

34.1% 22.6% 0.0% 50.0% 31.3%

51-60 10 5 0 0 15

66.7% 33.3% 0.0% 0.0% 100.0%

8.1% 16.1% 0.0% 0.0% 9.4%

Grand Total 123 31 4 2 160

76.9% 19.4% 2.5% 1.3% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Gender Male 103 22 2 2 129

79.8% 17.1% 1.6% 1.6% 100.0%

83.7% 71.0% 50.0% 100.0% 80.6%

Female 20 9 2 0 31

64.5% 29.0% 6.5% 0.0% 100.0%

16.3% 29.0% 50.0% 0.0% 19.4%

Grand Total 123 31 4 2 160

76.9% 19.4% 2.5% 1.3% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Marital Single 14 5 1 0 20

70.0% 25.0% 5.0% 0.0% 100.0%

11.4% 16.1% 25.0% 0.0% 12.5%

Married 109 26 3 2 140

77.9% 18.6% 2.1% 1.4% 100.0%

88.6% 83.9% 75.0% 100.0% 87.5%

Grand Total 123 31 4 2 160

76.9% 19.4% 2.5% 1.3% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Qualification Graduate 39 12 1 0 52

75.0% 23.1% 1.9% 0.0% 100.0%

31.7% 38.7% 25.0% 0.0% 32.5%

Post Graduate 53 8 1 2 64

82.8% 12.5% 1.6% 3.1% 100.0%

43.1% 25.8% 25.0% 100.0% 40.0%

Professional 31 11 2 0 44

70.5% 25.0% 4.5% 0.0% 100.0%

25.2% 35.5% 50.0% 0.0% 27.5%

Grand Total 123 31 4 2 160

76.9% 19.4% 2.5% 1.3% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Cadre Junior Management 21 4 2 0 27

77.8% 14.8% 7.4% 0.0% 100.0%

17.1% 12.9% 50.0% 0.0% 16.9%

Middle Management 93 24 2 1 120





77.5% 20.0% 1.7% 0.8% 100.0%

75.6% 77.4% 50.0% 50.0% 75.0%

Senior Management 9 3 0 1 13

69.2% 23.1% 0.0% 7.7% 100.0%

7.3% 9.7% 0.0% 50.0% 8.1%

Grand Total 123 31 4 2 160

76.9% 19.4% 2.5% 1.3% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Income Rs.0-5Lakhs 27 10 1 0 38

71.1% 26.3% 2.6% 0.0% 100.0%

22.0% 32.3% 25.0% 0.0% 23.8%

Rs.5-10 Lakhs 47 7 3 2 59

79.7% 11.9% 5.1% 3.4% 100.0%

38.2% 22.6% 75.0% 100.0% 36.9%

Rs.10- 15Lakhs 34 11 0 0 45

75.6% 24.4% 0.0% 0.0% 100.0%

27.6% 35.5% 0.0% 0.0% 28.1%

> Rs.15Lakhs 15 3 0 0 18

83.3% 16.7% 0.0% 0.0% 100.0%

12.2% 9.7% 0.0% 0.0% 11.3%

Grand Total 123 31 4 2 160

76.9% 19.4% 2.5% 1.3% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Investment Rs.0-2.5Lakhs 68 16 2 1 87

78.2% 18.4% 2.3% 1.1% 100.0%

55.3% 51.6% 50.0% 50.0% 54.4%

Rs.2.5-5Lakhs 33 10 0 0 43

76.7% 23.3% 0.0% 0.0% 100.0%

26.8% 32.3% 0.0% 0.0% 26.9%

Rs.5-7.5Lakhs 16 2 1 0 19

84.2% 10.5% 5.3% 0.0% 100.0%

13.0% 6.5% 25.0% 0.0% 11.9%

>Rs.7.5Lakhs 6 3 1 1 11

54.5% 27.3% 9.1% 9.1% 100.0%

4.9% 9.7% 25.0% 50.0% 6.9%

Grand Total 123 31 4 2 160

76.9% 19.4% 2.5% 1.3% 100.0%

100.00% 100.00% 100.00% 100.00% 100.00%


Following inferences would be drawn from the above table-4

76.9% of the investors prefer return on investment as an important factor for selection followed by 19.4% of the

investors selecting value for investment as the basis for selection.

Among the male and female respondents, 79.8% of the males and 64.5% of the female respondents prefer return on

investment as an important factor for investment.

77.9% of the married investors prefer return on investment and 18.6% of the married investors prefer value for

investment as important factor for investment.

75% of the graduates, 82.8% of the postgraduates and 70.5% of the professionals have selected return on investment as

an important factor.

Return on Investment has been selected as the first priority by all the investors irrespective of the income levels

followed by value for investment.





Table-5: Relationships between the Demographic Variables and Factors for Investment Decision

Demographic

Factors

Chi-square

Value

Degree of

Freedom

Table

Value

Significant /

not significant




Educational Qualification 7.2315 6 12.5920 Not significant

Grade 8.5935 6 12.5920 Not significant

Income 10.2407 9 16.9190 Not significant

Investment 12.1379 9 16.9190 Not significant


Table-5 shows that, chi-square test at 5% level of significance has been conducted using the data collected to verify the significant

relationship between demographic variables and the factors affecting investment decision of the respondents. The results of the

analysis elucidates that variables like age, marital status, gender, educational qualification, grade, Income and Investment are not

significantly associated with the factors for investment decision of investors.

Table-6: Observed details between Demographic Variables and Satisfaction Levels of Respondents

Particulars Satisfied Not Satisfied Total

Age

21-30 19 0 19

100.0% 0.0% 100.0%

13.2% 0.0% 11.9%

31-40 65 11 76

85.5% 14.5% 100.0%

45.1% 68.8% 47.5%

41-50 45 5 50

90.0% 10.0% 100.0%

31.3% 31.3% 31.3%

51-60 15 0 15

100.0% 0.0% 100.0%

10.4% 0.0% 9.4%

Grand Total 144 16 160

90.0% 10.0% 100.0%

100.0% 100.0% 100.0%

Gender

Male 115 14 129

89.1% 10.9% 100.0%

79.9% 87.5% 80.6%

Female 29 2 31

93.5% 6.5% 100.0%

20.1% 12.5% 19.4%


90.0% 10.0% 100.0%

100.0% 100.0% 100.0%

Marital

Single 19 1 20

95.0% 5.0% 100.0%

13.2% 6.3% 12.5%

Married 125 15 140

89.3% 10.7% 100.0%

86.8% 93.8% 87.5%


90.0% 10.0% 100.0%

100.0% 100.0% 100.0%

Qualification

Graduate 51 1 52

98.1% 1.9% 100.0%

35.4% 6.3% 32.5%

Post Graduate 57 7 64





Particulars Satisfied Not Satisfied Total

89.1% 10.9% 100.0%

39.6% 43.8% 40.0%

Professional 36 8 44

81.8% 18.2% 100.0%

25.0% 50.0% 27.5%


90.0% 10.0% 100.0%

100.0% 100.0% 100.0%

Cadre

Junior Management 24 3 27

88.9% 11.1% 100.0%

16.7% 18.8% 16.9%

Middle Management 109 11 120

90.8% 9.2% 100.0%

75.7% 68.8% 75.0%

Senior Management 11 2 13

84.6% 15.4% 100.0%

7.6% 12.5% 8.1%


90.0% 10.0% 100.0%

100.0% 100.0% 100.0%

Income

Rs.0-5Lakhs 33 5 38

86.8% 13.2% 100.0%

22.9% 31.3% 23.8%

Rs.5-10 Lakhs 52 7 59

88.1% 11.9% 100.0%

36.1% 43.8% 36.9%

Rs.10-15Lakhs 43 2 45

95.6% 4.4% 100.0%

29.9% 12.5% 28.1%

> Rs.15Lakhs 16 2 18

88.9% 11.1% 100.0%

11.1% 12.5% 11.3%


90.0% 10.0% 100.0%

100.0% 100.0% 100.0%

Investment

Rs.0-2.5Lakhs 77 10 87

88.5% 11.5% 100.0%

53.5% 62.5% 54.4%

Rs.2.5-5Lakhs 39 4 43

90.7% 9.3% 100.0%

27.1% 25.0% 26.9%

Rs.5-7.5Lakhs 18 1 19

94.7% 5.3% 100.0%

12.5% 6.3% 11.9%

>Rs.7.5Lakhs 10 1 11

90.9% 9.1% 100.0%

6.9% 6.3% 6.9%


90.0% 10.0% 100.0%

100.00% 100.00% 100.00%


Following inferences would be drawn from the above table-6:

90% of the investors are satisfied with their investment and the balance 10% of the not satisfied with the investment

made by them.

The level of unsatisfied investors is high at 14.5% in the age group of 31-40 years.





More than 80% of the investors are satisfied with their investment based on the various demographic variables.

Table-7: Relationships between the Demographic Factors and Satisfaction Level of Respondents

Demographic

Factors

Chi-square

Value

Degree of

Freedom

Table Value Significant /

not significant




Educational Qualification 7.1045 2 5.9910 Significant

Grade 0.5484 2 5.9910 Not significant

Income 2.2168 3 7.8150 Not significant

Investment 0.7229 3 7.8150 Not significant


Chi-square test was conducted to verify the significant relationship between demographic factors and the satisfaction level of the

respondents (5% level of significance). The results of the analysis elucidates that the variable educational qualification is

significantly associated with satisfaction level of the respondents and other variables like age, marital status, gender, grade,

Income and Investment are not significantly associated with the period of investment.

SALIENT FINDINGS

Majority of the investors are male 80.6% and most of them are married 87.5%

47.5% of the respondents are in the age group of 31-40 followed by 31.3% of respondents in 41-50 years of age group.

Most of the investors are post graduates 40.0% followed by 32.5% of the respondents are graduates and the balance are

professionally qualified.

75% of the respondents are working in the middle management and 54.4% of the investors invest between Rs.0-2.5

Lakhs.

70.4% of the investors in junior management and 55.8% in the middle management invest between Rs.0-2.5 Lakhs

while 38.5% of the investors in the senior management invest more than Rs.7.5 Lakhs.

76.9% of the investors prefer return on investment as an important factor for selection followed by 19.4% of the

investors selecting value for investment as the basis for selection.

77.9% of the married investors prefer return on investment and 18.6% of the married investors prefer value for

investment as important factor for investment.

More than 80% of the investors are satisfied with their investment based on the various demographic variables.

The level of unsatisfied investors is high at 14.5% in the age group of 31-40 years.

CONCLUSION

From the results of the survey, it may be seen that there was significant relationship between demographic variables such as grade

and income and investment whereas other variables like age, marital status, gender, educational qualification are not significantly

associated with the investment. Chi-square test revealed that variables like age, marital status, gender, educational qualification,

grade, Income and Investment are not significantly associated with the factors for investment decision of investors. It also conveys

that the variable educational qualification is significantly associated with satisfaction level of the respondents and other variables

like age, marital status, gender, grade, Income and Investment are not significantly associated with the period of investment.

The implications of the findings of the study are that the investors are enlightened on the factors that help in selection of an

investment which leads to their satisfaction. Investors are aware of the avenues of investments. Thus this study helped in

identifying the most important and the least important factors for selecting an investment by an investor. It has also thrown light

on factors that creates an impact on investing activity by an investor.





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*****

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http://www.ijmbs.com/31/bhawna.pdf

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