financeФинансы: теория и практика/Finance: Theory and PracticeFinance: Theory and Practice2587-56712587-7089Financial University under The Government of Russian Federation10.26794/2587-5671-2025-29-5-1456-01finance-3261Research ArticleПОВЕДЕНЧЕСКАЯ ЭКОНОМИКАBEHAVIORAL ECONOMICSВлияние привязанности, стадности и неприятия потерь на принятие инвестиционных решений работающими женщинамиImpact of Anchoring, Herding and Loss-Aversion on Working Women’s Investment Decision-Makinghttps://orcid.org/0009-0007-4961-7094ШриваставаH.SrivastavaH.

Харшита Шривастава — доцент

Лакхнау, Уттар-Пра­деш

Harshita Srivastava — Assist. Prof.

Lucknow, Uttar Pradesh

srivastava.harshita7697@gmail.comhttps://orcid.org/0000-0003-4768-6508МойдС.MoidS.

Сана Моид — PhD, доцент, профессор, бизнес-школа Amity

Лакхнау, Ут­тар-Прадеш

Sana Moid — PhD, Assist. Prof., Amity Business School

Lucknow, Uttar Pradesh

smoid@lko.amity.eduhttps://orcid.org/0000-0001-6113-8319РушдиН. Дж.RushdiN. J.

Наэла Джамал Рушди — PhD, основатель

Лак­хнау, Уттар-Прадеш

Naela Jamal Rushdi — PhD, Prof., Director

Lucknow, Uttar Pradesh

naelarushdi@gmail.comАкадемия высшего образования IILMИндияIILM Academy of Higher LearningIndiaУниверситет АмитиИндияAmity UniversityIndiaИнвестиционное образование в МашвареИндияMashwarah InvesteducationIndia2025261020252959099Copyright © Шривастава H., Мойд С., Рушди Н.Д., 20252025Шривастава H., Мойд С., Рушди Н.Д.Srivastava H., Moid S., Rushdi N.J.Данная работа распространяется под лицензией Creative Commons Attribution 4.0.This work is licensed under a Creative Commons Attribution 4.0 License.https://financetp.fa.ru/jour/article/view/3261

Область поведенческих финансов объединяет экономические и психологические концепции для понимания и разъя­снения процесса принятия решений, связанных с личными финансами.

Цель данной работы — определить влияние при­вязанности, стадного эффекта и неприятия потерь на принятие инвестиционных решений работающими женщинамиинвесторами. Выборка состоит из 196 работающих женщин-инвесторов, торгующих на индийском фондовом рынке из штата Уттар-Прадеш, Индия. Для сбора данных использовалась структурированная анкета, основанная на пятибалльной шкале Лайкерта. Данные анализировались при помощи программного обеспечения SPSS (версия 22) с применением функции линейной регрессии.

Результаты этого исследования подтвердили, что якорение, стадное поведение и пред­взятость к избеганию потерь оказывают значительное положительное влияние на принятие инвестиционных решений работающими женщинами-инвесторами. На основании полученных данных сделан вывод о том, что эффект якоря ока­зывает наибольшее влияние на инвестиционные решения работающих женщин-инвесторов, за ним следует стадный эффект, в то время как избегание потерь менее всего влияет на принятие инвестиционных решений работающих жен­щин-инвесторов.

Результаты данного исследования имеют важное значение для работающих женщин-инвесторов, ис­следователей, политиков и финансовых консультантов. Осознание этих поведенческих предубеждений жизненно важно для расширения возможностей работающих женщин по принятию обоснованных и рациональных инвестиционных ре­шений. Финансовым консультантам и политикам важно признать эти поведенческие предубеждения, чтобы предложить индивидуальное консультирование и поддержку работающим женщинам-инвесторам. Несмотря на то что эти предвзя­тости влияют на людей обоих полов одинаково, это исследование сосредоточено на том, как они особенно влияют на работающих женщин, поскольку они часто сталкиваются с определенными социокультурными условиями и ожиданиями. 

The area of behavioral finance integrates economic and psychological concepts to comprehend and elucidate the decision­making process involved in personal finance.

The purpose of this paper is to determine the impact of anchoring, herding, and loss aversion on influencing working women investors’ investment decision-making. The sample size consists of 196 working women investors who are trading in the Indian Stock Market from Uttar Pradesh, India. A structured questionnaire is used for the collection of data, which is based on a five-point Likert scale.

The SPSS (Version 22) software is used to analyze data employing the linear regression function.

The result of this study confirmed that anchoring, herding, and loss aversion bias have a significant positive impact on working women investors’ investment decision-making. Based on the data obtained, this paper concludes that anchoring has the most influence on working women investors’ investment decisions, followed by herding, while loss aversion has the least influence on working women investors’ investment decision-making.

The findings of this study have significant implications for working women investors, researchers, policymakers, and financial advisors. Awareness of these behavioral biases is vital for empowering working women to make informed and rational investment choices. It is important for financial advisors and policymakers to acknowledge these behavioral biases in order to offer customized counselling and support for working women investors. Even though these biases affect people of both genders equally, this research concentrates on how they particularly affect working women since they frequently deal with particular socio-cultural settings and expectations.

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The authors declare that there are no conflicts of interest present.