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Behavioral Finance Spring Semester, 2022 The Guidelines for the Group Project As investment advisors you will present to the CFO and other investment advisors your critical analysis on your investor's...

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Behavioral Finance
Spring Semester, 2022
The Guidelines for the Group Project
As investment advisors you will present to the CFO and other investment advisors your critical analysis on your investor's type and behavioral biases along with presenting your suggested asset allocation that is appropriate for your investor.
Each group should include the followings in the professional report and presentation:
1) Investor Background, each group should:
· Describe the investor's demographic profile in details (including gender, education, background, age, occupation, income and wealth).
· Each group should indicate how investor's demographic background impact his/her investment behavior.
2) Investor Analysis: Based on your questionnaire and interview with the investor (include the questions and the answers in the presentations and professional reports), each group should:
· Identify the investor's Passive or Active Traits
· Describe the investor personality (lifestyle, stable, information, goal setting)
· Describe and explain the investor type ( Preserver, Follower, Independent, Or Accumulator)
· Indicate and explain the investor's risk tolerance level (low, medium, high).
· Describe the investor's confidence and investment literacy levels.
· Describe and explain the investor's investment horizon (short, medium, long).
3) Investor's behavioral biases: Each group should:
· Explain in details the process of identifying the investor's two assigned behavioral biases.
· Describe the assigned behavioral biases and associate them with the investor background, type, personality risk tolerance, and investment horizon.
· Indicate the primary bias based on your investor type.
· Provide a professional advice for your investor based on his/her behavioral biases.
4) Investor's Suggested Portfolio: Each group should:
· Build a pyramid with different layers based on the investor's goals, demands, investor's type and behavioral biases (Explains each layer).
· Indicate and explain whether you will adapt or moderate your investor's behavioral biases.
· Explain in details the suggested asset allocation and how such asset allocation is the most suitable for your investor and his/her behavioral biases.
· Construct a portfolio that is suitable for your investor based on his/her behavioral biases and investor type.
***The professional report should include the above four points (explained in details and with critical analysis). It must be professionally well written
Answered 2 days After Feb 01, 2022

Solution

Sandeep answered on Feb 04 2022
131 Votes
13
BEHAVIOURIAL FINANCE –GROUP PROJECT
    Category
    Particulars
    Frequency
    Percentage
    
    
    
    
    Gende
    Male
    244
    71.76 %
    
    Female
    96
    28.24%
    Age
    below 25 yrs.
    30
    8.82%
    
    25 – 35 yrs.
    90
    26.47%
    
    36 – 45 yrs.
    115
    33.82%
    
    46 – 55 yrs.
    71
    20.88%
    
    above 55 yrs.
    34
    10.00%
    Marital Status
    Ma
ied
    266
    78.24%
    
    Un Ma
ied
    74
    21.76%
    Education status
    School level
    57
    16.76%
    
    Graduate
    122
    35.88%
    
    Post Graduate
    72
    21.18%
    
    Professional
    51
    15.00%
    
    No Formal education
    38
    11.18%
    Experience
    Less than one yea
    65
    19.12%
    
    One – five years
    59
    17.35%
    
    five – ten years
    122
    35.88%
    
    Above 10 years
    94
    27.65%
Data Analysis and Interpretations of the above table is as below: Demographic variable such as age, gender, marital status, education level, experience in share market and type of investor are considered as the main influencing variable that affects the investors’ investment decision. Analysis of group of investor indicates impact of his/her investment behaviour as below:
Observation 1: Majority 71.76% of the respondents are Male. 33.82% belong to the Age group of 36 - 45 years. Majority (78.24 %) of the investor are ma
ied. Nearly (35.88%) have completed their Graduation. Nearly 36% of the respondents have five to ten years of experience in share market.
Observation 2: It disapproves notion that mostly age of 25-35 people like to invest as they don’t have any obligation baggage or pre-conceived notions. More than 36% are graduate which proves that education has some role to play in investment decisions as people are able to make informed and calculated risky decision.
Observation3: Further tests prove that there is significant difference between gender and their level of emotional tolerance. It can be concluded that the level of emotional tolerance differs from men and women in their financial investment decision making, especially in share market, the place where risk plays a heavier role.
Observation 4: All type of investors(Short-term, Long term or intraday) are immune to importance attached to Dividend, Bonus and Rights issue , split issue and Earning report announcements .There is no impact on investor behaviour of such significant announcement.
Observation 5: The results indicate that gender of respondents has a huge impact on the investors’ behaviour. This indicated the need for gender parity in stock markets and thus facilitate entry of women in the Stock Exchange Industry. With the majority of the participants being in the 36-45age group implied some experience in financial assets investments domain does benefit the capital markets. In the end to summarize study suggest that the personality of an investor influences the investment patterns and types of investments made.
    Category
    Variable
    No. of Respondents
    Percentage
    Portfolio Wealth
    <100
    398
    9.6%
    
    100-500K
    1293
    31.1%
    
    500K – 1M
    1127
    27.1%
    
    1M – 5M
    1204
    28.9%
    
    >5M
    134
    3.2%
    
    Total
    4156
    -
    Gende
    Male
    4056
    90.3
    
    Female
    435
    9.7
    
    Total
    4491
    -
    Age
    18-29
    29
    .65%
    
    30-44
    248
    5.6%
    
    45-59
    1269
    28.3%
    
    >60
    2908
    65.3%
    
    Total
    4454
     -
    Education
    High School
    458
    10.2%
    
    Bachelor’s
    1582
    35.4%
    
    Master’s/MBA
    1236
    27.7%
    
    Post Graduate
    2908
    26.6%
    
    Total
    4463
    -
    Marital status
    Single
    441
    9.9%
    
    Ma
ied
    3580
    80.1%
    
    Divorced
    278
    6.2%
    
    Widowed
    170
    3.8%
    
    Total
    4469
    -
    Occupation Status
    Student
    14
    .31%
    
    Self-Employed
    530
    11.7
    
    Full-Time
    1249
    27.8
    
    Part-Time
    207
    4.6
    
    Retired
    2410
    53.6
    
    Not Employed
    88
    1.9
    
    Total
    4498
    -
Results of Socially responsible investor is as follow:
Observation 1: More than 59% of the respondent held portfolio worth $5, 00,000 and over 33% held portfolio more than $ 1million. Vast majority of respondents around 90% were male, and two-thirds were over 60 (65 %) and retired. More than 72 % held a post bachelor degree, and above 80 % were ma
ied.
Observation 2: Higher education levels were associated with greater percentage of active participant who are making Investments.
Observation 3: Significantly more investors are self-employed and significantly less are retired.
Observation 4: The concentration of investor is more in wealth portfolio > $1million and < $5 million. Hence it can be deduced that investor...
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