Association of demographic and behavioral characteristics on financial decision making

Abstract

Managerial Risk acceptance criteria are affected by several factors. The study focuses on demographic and behavioral factors that plays their role in altering their decision making process. Questionnaires were distributed for collecting response of different professionals holding managerial positions encompassing Demographic Factors i.e. gender, age, marital Status and education, Behavioral factors i.e. Excessive Optimism, Over Confidence and Emotional Intelligence on risk perception. Reliability of the questionnaire is assessed through Cron Bach Alpha and to evaluate technical aspects of all variables, Linear regression and General Linear Univariate model are used. It is found that the variables including both, behavioral and demographic aspects are significantly associated with risk acceptance.