financeФинансы: теория и практика/Finance: Theory and PracticeFinance: Theory and Practice2587-56712587-7089Financial University under The Government of Russian Federation10.26794/2587-5671-2026-30-3-230-242finance-4414Research ArticleПОВЕДЕНЧЕСКАЯ ЭКОНОМИКАBEHAVIORAL ECONOMICSВлияние на решения сельских инвесторов инвестиционного поведения и склонности к рискуThe Impact of Investment Behavior and Risk Appetite on Investment Decisions of Rural InvestorsСингхБ.SinghB.

Бхавандип Сингх — научный сотрудник Школы бизнеса Миттала

Фагвара, Пенджаб

Bhawandeep Singh — Research Scholar at Mittal School of Business

Phagwara

https://orcid.org/0000-0002-6963-4066Рекха.Rekha.

Рекха — PhD, профессор кафедры финансов и банковского дела Школы бизнеса Миттала

Фагвара, Пенджаб

Rekha — PhD, Prof. in the Finance and Banking Department of Mittal School of Business

Phagwara

drrekha73@gmail.comhttps://orcid.org/0000-0002-1292-4855ШармаС.SharmaS.

Свати Шарма — PhD, доцент факультета финансов и банковского дела Школы бизнеса Миттала

Фагвара, Пенджаб

Swaty Sharma — PhD, Assis. Prof. in the Finance and Banking Department of Mittal School of Business

Phagwara

swaty.sharma@rediffmail.comПрофессиональный университет ЛавлиИндияLovely Professional UniversityIndia202606062026303230242Copyright © Сингх Б., Рекха .., Шарма С., 20262026Сингх Б., Рекха .., Шарма С.Singh B., Rekha .., Sharma S.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/4414

Цель исследования — определить, как инвестиционное поведение и склонность к риску влияют на решения сельских инвесторов. Особое внимание уделяется демографическим характеристикам участников. Работа проводилась в сельских районах Индии Харьяны и Пенджаба с использованием структурированных опросников. Данные были собраны от 486 инвесторов из 22 округов Харьяны и семи округов Пенджаба. Анализ демографических характеристик проводился с помощью SPSS 26. Надежность и валидность опросника проверялись с помощью альфа-коэффициента Кронбаха, композитной надежности, дискриминантной валидности и моделирования структурными уравнениями (SEM) в Smart PLS 4. Исследование показало, что инвестиционное поведение значительно влияет на решения сельских инвесторов. Это означает, что они принимают решения, основываясь на своих потребностях, целях и опыте владения активами. Склонность к риску, напротив, оказывает незначительное влияние. Это говорит о том, что уровень склонности к риску не играет ключевой роли в инвестиционных решениях сельских инвесторов.

The research aims to investigate the impact of investment behavior and risk appetite on investment decision-making for rural investors, with frequent analysis of the demographic characteristics of rural investors. The research was based on a cross-sectional research design in which the data was collected from the rural areas of Haryana and Punjab; 486 individual investors’ data was collected using structured questionnaires from all 22 districts of Haryana and seven districts of Punjab. Frequency analysis of the demographic characteristics has been performed using SPSS version 26. For testing the reliability and validity of the questionnaire, the Cronbach alpha test, Composite reliability, and Discriminant validity and hypothesis testing have been done using Structural Equation Modelling [SEM] with Smart PLS 4. The results of the study reveal that investment behavior has a significant impact on investment decision-making. This implies that rural investors make decisions based on their behavioral aspects, i. e., needs, objectives, the history of particular assets. The results also show that risk appetite does not significantly affect the decision-making process of rural investors, implying that regardless of its level, it is not the major factor in investment decision-making.

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