Investment Behavior of Women Academicians – Evidence from Rajasthan

Financial literacy, socio-demographic factors and behavioral factors were added and investigated the investment behavior of the women academician in Rajasthan, India. The primary cross-sectional study was conducted on 400 respondents from Higher Educational Institutions (HEIs) of Rajasthan by using structured questionnaire. Analysis was done by descriptive statistics and correlation analysis, cross tabulation, and Ordinary Least Squares (OLS) regression. Results indicated moderate financial literacy, with roughly 32.5% of respondents getting the financial literacy questions right, there was clearly some room for improvement in terms of financial literacy regarding understandings of inflation and compounding. The analysis further reveals that preference was given to more traditional financial instruments such as gold (52%) and fixed deposits (68.5%) with low risk. Results of the OLS regression models indicate that financial literacy (β = 0.284) is Along with income level and risk attitude, the factors of statistically significant in determining the investment behavior. Based on the micro level, this study belongs to the body of literature based on the micro level data on the not so much studied group of women academicians with regional Indian scenario and not only that but also gives the financial education its importance so as to empower women and help them in making educated investment decisions. The findings will try to document the current scenario of women academicians in terms of their financial literacy and their investment habits with an aim for highlighting the financial literacy issue among women academics. This paper has been prepared to find out financial literacy level of the women academicians and Investment behavior of women academicians and to solve the problem of low financial literacy of women academicians.

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