1Full Time Research Scholar, Department of Management Studies, B. S. Abdur Rahman Crescent Institute of Science & Technology, Vandalur, Chennai
2Assistant Professor, Department of Management Studies, B. S. Abdur Rahman Crescent Institute of Science & Technology, Vandalur, Chennai. smpy.maha@gmail.com, 9940548793
Savings and Investments are a path to overcome uncertainties in the future. Investments has gained its momentum due to increase in the rate of inflation and expectancy of high standard of living among individuals. Investments are considered to be the best alternative, as there is a possibility of capital appreciation and good returns in future. But deciding on when to invest, where to invest, how to invest and how long to invest are the primary focus while making investment decisions. The existence of heterogeneous behavior among individuals leads to behavioral biases creating an impact on decision making and investment performance. Empirical studies on Cultural variables like auspicious day & auspicious time and the influence of Family has been researched very rare.
The main objective of the study is to find out the impact of cultural variables like auspicious time and auspicious day and influence of family in the process of decision making. Related literature has been cited through various sources like Journals, articles and newspapers.
The findings of the study reveals the impact of auspicious day and auspicious time as a mediator and the influence of family as a moderating variable in the process of decision making. The Demographic variable gender is found to be influencing the financial decision making process.
The findings of the study will be helpful to the individual investors to know the influence of these variables in the process of decision making. It is helpful to the financial advisors to suggest the best investment alternatives according to the needs of the investors.
Auspicious day, beliefs, decision making, family influence, gender
