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Do religious and conscious investors make better economic decisions? Evidence from India

Author

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  • Misra, Rupali
  • Srivastava, Sumita
  • Banwet, D.K.

Abstract

Investment decision-making in India is different from the world and is affected by social settings. Religion lies at the core of the prevailing socio-cultural environment strengthening social-norms and belief-system, while consciousness is considered core ingredient of life which improves awareness beyond the physical plane, not attributable to cortical processes. Although socio-cultural influence on economic behaviour is quite discernible in countries following eastern-religious traditions, yet studies examining its impact on decision efficacy are scant. Present research addresses this and explores causal role of religiosity and consciousness in shaping investor’s intuitive and analytical abilities.

Suggested Citation

  • Misra, Rupali & Srivastava, Sumita & Banwet, D.K., 2019. "Do religious and conscious investors make better economic decisions? Evidence from India," Journal of Behavioral and Experimental Finance, Elsevier, vol. 22(C), pages 64-74.
    • Handle: RePEc:eee:beexfi:v:22:y:2019:i:c:p:64-74
    DOI: 10.1016/j.jbef.2019.02.003
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    References listed on IDEAS

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    Cited by:

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    2. Shahid, Ahmad Usman & Patel, Chris & Pan, Peipei, 2022. "Corporate social responsibility, intrinsic religiosity, and investment decisions," Journal of Behavioral and Experimental Finance, Elsevier, vol. 34(C).
    3. Elfindah Princes, 2019. "Ambidextrous Leadership in Manufacture Industry in Indonesia," GATR Journals jmmr228, Global Academy of Training and Research (GATR) Enterprise.
    4. Ashutosh Pradhan, 2021. "Quantitative model for impact of behavioral biases on asset allocation decisions: a case study of investors in UAE," Journal of Asset Management, Palgrave Macmillan, vol. 22(7), pages 573-580, December.
    5. M. Rahila Begam & Manivannan Babu & M. M. Sulphey, 2024. "Development and Validation of an Islamic Investor’s Sentiment Scale for Stock Market Investment," Business Perspectives and Research, , vol. 12(1), pages 26-44, January.

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