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Development of Scale to Measure Objectives-Oriented Investment Behavior

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  • Sanjay Rastogi
  • Saurabh Gupta

Abstract

While planning for personal finances, researchers recommend investors adapting systematically planned investment behaviors that align investments with their financial objectives; however, they fail to provide a scale for the measurement of such behaviors. Therefore, this study develops a scale, conducts exploratory and confirmatory factor analysis, and provides evidence of the reliability of the scale measuring objectives-oriented investment behaviors. Examining a cross-sectional data of 448 investors collected through the new scale, the study finds that a majority of the investors’ do not follow objectives-oriented behavior. The results inform that the selection of investment avenues and allocation of funds were not aligned with investors’ financial objectives.

Suggested Citation

  • Sanjay Rastogi & Saurabh Gupta, 2020. "Development of Scale to Measure Objectives-Oriented Investment Behavior," Journal of Behavioral Finance, Taylor & Francis Journals, vol. 21(3), pages 301-310, July.
    • Handle: RePEc:taf:hbhfxx:v:21:y:2020:i:3:p:301-310
    DOI: 10.1080/15427560.2019.1692346
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    Cited by:

    1. Ali, Muhammad Arsalan & Rehman, Khalil ur & Maqbool, Adnan & Hussain, Shahid, 2021. "The Impact of Behavioral Finance Factors and the Mediating Effect of Investment Behavior on Individual’s Financial Well-being: Empirical Evidence from Pakistan," Journal of Accounting and Finance in Emerging Economies, CSRC Publishing, Center for Sustainability Research and Consultancy Pakistan, vol. 7(2), pages 325-336, June.

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