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Asian Journal of Management
Year : 2018, Volume : 9, Issue : 1
First page : ( 373) Last page : ( 382)
Print ISSN : 0976-495X. Online ISSN : 2321-5763.
Article DOI : 10.5958/2321-5763.2018.00058.6

An Exploratory Study on the Factors Affecting the Acceptance of Art as an Alternative Form of Investment by the Potential Investors

Ms. Lakshmi B1,*, Aruthra R2,**, Otta Sanjay Sunny2,***

1Assistant Professor, Dept of Commerce, Christ University, Bengaluru

2MCOM Research Scholar, Christ University, Bengaluru

*Corresponding Author E-mail: lakshmi.b@christuniversity.in



Online published on 2 June, 2018.


Art is an asset that can offer exceptional return with diversification. But the lack of awareness about art investment has led the area to be unexplored. The objective of this paper is to provide an insight into the awareness level and the existing attitude about art investment in India. It also explores the reasons for the same through the ideas and opinions of the financial managers. The data was collected through self-structured questionnaire from 187 respondents and interview from financial experts. The interview of financial advisors gave few significant and useful insights into understanding the reasons for under-development and non-popularity of art investments among Indian potential investors. The data collected is analysed through Factor analysis and one way ANOVA. Five factors were obtained through Factor analysis. The five factors obtained are entry barriers, maintenance costs, market regulations and profitability, awareness and risk mitigation. ANOVA shows that investors of different age, place, and experience of investing, savings and gender do not differ in their perceptions towards the important factors for investing in art. India has a high potential for alternative investments and the financial investors can reap huge returns if invested in it. The findings would help bring in awareness among the financial investors, including them in the art investment bracket with potential of huge returns.



Art, alternative investment, diversification, financial investors, investment portfolio.


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