Big five personality traits and Behavioural aspects of individual Investors in indian capital market

Abstract

Conventional financial theories mainly include modern portfolio newlinetheory and efficient market hypothesis Whereas the emerging field of newlinebehavioural finance investigates the psychological and sociological issues that newlinehave an impact on the decision making process of individual investor newlineAccording to the traditional economic theory which is based on efficient newlinemarket hypothesis EMH the stock prices can fully reflect all the relevant newlineinformation of the capital market Individual investors can only earn normal newlinereturns by analysing available information in the public domain Eugene newlineFama1970 In reality investors are likely to make different decisions newline Kahneman Tversky 1979 or they may follow the recommendations of the newlineportfolio managers Though the individual investors are able to obtain better newlineinformation about the capital market their decisions are not completely newlinerational due to the existence of various investment biases newline newline