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FINANCIAL LITERACY AND ITS IMPACT ON THE INVESTMENT DECISIONS OF WORKING WOMEN
Corresponding Author(s) : K Koti
Humanities & Social Sciences Reviews,
Vol. 7 No. 6 (2019): November
Abstract
Purpose of the study: The study was conducted with the main objective of knowing the financial literacy of women in Dharwad District
Methodology: For the research conducted totally of 100 women were interviewed to know their financial ability and proficiency. The statistical tools used where factor analysis, T-Test and One-way Anova.
Main Findings: We could find 30 percent of them were comfortable and found that the gray area was mutual fund investment and return of it. The significant investment avenues which were important and not concentrated were bank deposits and gold markets. They are careful during investments; they know very well about the risk involved in markets and the volatility. They keep financial goals, targets and achieve them successfully. The investment is spread across various portfolios to lower the risk by them
Applications of this study: The study is very important to know the literacy of women in Dharwad District. Based on the study we can create awareness among the women to make them more ease in financial abilities and usage in financial products
Novelty/Originality of this study: The study is unique and researchers or the common person can analysis as to how women think about financial avenues and what is their level of understanding about financial opportunities. Financial institutions can even drive interest in women investing in markets and advisors can make them invest in mutual funds or banking products.
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- Agarwal, P., kureel, R.C., and Yadav, S. A Study on Future Plan for Increasing Financial Literacy among Peopleâ€, Global Journal of Financial and Management, Vol. 9, Issue 1, pp.29-38, 2017
- Agarwalla, S.K., Barua, S.K., Jacob, J. and Varma, J.R. (2013). Effectiveness of Financial Literacy Interventions in Improving Financial Literacy among Rural Women in North India. Retrieved from http://www.iimahd.ernet.in/fls/ReportLiteracy-Intervention-Web.pdf (accessed on 2/1/2015). https://doi.org/10.2139/ssrn.2338723 DOI: https://doi.org/10.2139/ssrn.2338723
- Akshita Arora. Assessment of Financial Literacy among working Indian Women, https://www.researchgate.net/publication/298790053, Article March 2016.
- Attarwala, A.A. Role of SEBI in Financial Literacy, Abhinav international Monthly Refereed Journal of Research in Management and Technology, Vol.3, Issue 3, pp.52-56, 2014
- Bahadur, L.R. Financial Literacy: The Indian Story, World Journal of Social Sciences, Vol. 5, No.3, pp.45-57, 2015.
- Bernadette D’Silva, Stephen D’Silva, and RoshniSubodhkumarBhuptani . Assessing The Financial Literacy Level Among Women in India: An Empirical Study Journal of Entrepreneurship and Management Volume 1 Issue 1 February 2012
- Bhargava, N.R. A Study on financial literacy and Financial Education: An Overview of Scenario in India, Research Journal of Management Sciences, Vol. 5(9), pp.51-57, 2016.
- BlessyRoy, Dr. Ruchi Jain: A Study on level of Financial Literacy among Indian Women, Journal of Business and Management , Volume 20, Issue 5. Ver. V, PP 19-24.2018.
- Dr. J. Gajendra Naidu: Financial Literacy in India: A Review of Literature, International Journal of Research in Business Studies and Management Volume 4, Issue 6, 2017, PP 30-32
- Dr.GarimaBaluja: Financial Literacy Among Women in India: A Review, Pacific Business Review International Volume 9 Issue 4, Oct 2016, PP 82-88
- Kumar, S. and Anees, M. (2013). Financial Literacy & Education: Present Scenario in India. International Journal of Engineering and Management Research, 3(6), 83-87.
- Manamba YılmazBayar, H. FundaSezgin, Ömer Faruk Öztürk, Usak : Impact of Financial Literacy on Personal Savings: A Research on Usak University Staff, Journal of Knowledge Management, Economics and Information Technology Vol. VII, Issue 6 , Decembri 2017, PP 1-19
- MandeepKaur,TinaVohra, AditiArora. Financial Literacy among University Students: A Study of Guru Nanak Dev University, Amritsar, Punjab Asia-Pacific Journal of Management Research and Innovation 11(2) 143–152 © 2015. https://doi.org/10.1177/2319510X15576178 DOI: https://doi.org/10.1177/2319510X15576178
- Mathivathani, V. and Velumani, M. A Study on Financial Literacy Among Rural Women in Tamilnadu. Indian Journal of Applied Research, 4(12), 556-557.2014.
- Paramashivaiah , P., Puttaswamy and Ramya S.K.Changing Risk Perception of Women Investors: An Empirical Study. Indian Journal of Finance.8(6).2014. https://doi.org/10.17010/ijf/2014/v8i6/71909 DOI: https://doi.org/10.17010/ijf/2014/v8i6/71909
- Prasad, D., Shollapur, M.R. and Shridevi V. Indian Women Investors: Emotional Decision Makers? Journal of Small Business and Entrepreneurship Development, 2(1), 31-48. 2014.
- PriyankaAgarwal, Dr. (Mohd) ShamimAnsari,Dr.SumanYadav, RadhikaKureel .Study On Financial Literacy Among Working Women In Educational Sector Of Jhansi District: With Special Reference To Investment Avenue, 2015.
- Samriti Kamboj: Current Scenario of Financial Literacy in India, International Journal of Entrepreneurship and Small Business Management. Volume 1, Number 1 (2014), pp. 61-68
- Sarita Thakur: Financial Literacy in India: Role of SEBI, International Journal for Research in Engineering Application & Management Vol-04, Issue-02, May 2018
- Sekar.M, Gowri. M A Study on Financial Literacy and its Determinants among Gen Y Employees in Coimbatore City, Great Lakes Herald Vol 9 , No 1 , March 2015, PP 35-45
- Shobha, T.S. and Shalini, S. A Study on the Perception of Women towards Financial Planning in the city of Bengaluru. Asia Pacific Journal of Research, 1(XXX), 14-21.2015.
- Sobhesh Kumar Agarwalla, Samir K. Barua, Joshy Jacob, Jayanth R. Varma, FINANCIAL LITERACY AMONG WORKING YOUNG IN URBAN INDIA, Research and Publications, W.P. No. 2013-10-02, PP 1-27. https://doi.org/10.2139/ssrn.2338723 DOI: https://doi.org/10.2139/ssrn.2338723
References
Agarwal, P., kureel, R.C., and Yadav, S. A Study on Future Plan for Increasing Financial Literacy among Peopleâ€, Global Journal of Financial and Management, Vol. 9, Issue 1, pp.29-38, 2017
Agarwalla, S.K., Barua, S.K., Jacob, J. and Varma, J.R. (2013). Effectiveness of Financial Literacy Interventions in Improving Financial Literacy among Rural Women in North India. Retrieved from http://www.iimahd.ernet.in/fls/ReportLiteracy-Intervention-Web.pdf (accessed on 2/1/2015). https://doi.org/10.2139/ssrn.2338723 DOI: https://doi.org/10.2139/ssrn.2338723
Akshita Arora. Assessment of Financial Literacy among working Indian Women, https://www.researchgate.net/publication/298790053, Article March 2016.
Attarwala, A.A. Role of SEBI in Financial Literacy, Abhinav international Monthly Refereed Journal of Research in Management and Technology, Vol.3, Issue 3, pp.52-56, 2014
Bahadur, L.R. Financial Literacy: The Indian Story, World Journal of Social Sciences, Vol. 5, No.3, pp.45-57, 2015.
Bernadette D’Silva, Stephen D’Silva, and RoshniSubodhkumarBhuptani . Assessing The Financial Literacy Level Among Women in India: An Empirical Study Journal of Entrepreneurship and Management Volume 1 Issue 1 February 2012
Bhargava, N.R. A Study on financial literacy and Financial Education: An Overview of Scenario in India, Research Journal of Management Sciences, Vol. 5(9), pp.51-57, 2016.
BlessyRoy, Dr. Ruchi Jain: A Study on level of Financial Literacy among Indian Women, Journal of Business and Management , Volume 20, Issue 5. Ver. V, PP 19-24.2018.
Dr. J. Gajendra Naidu: Financial Literacy in India: A Review of Literature, International Journal of Research in Business Studies and Management Volume 4, Issue 6, 2017, PP 30-32
Dr.GarimaBaluja: Financial Literacy Among Women in India: A Review, Pacific Business Review International Volume 9 Issue 4, Oct 2016, PP 82-88
Kumar, S. and Anees, M. (2013). Financial Literacy & Education: Present Scenario in India. International Journal of Engineering and Management Research, 3(6), 83-87.
Manamba YılmazBayar, H. FundaSezgin, Ömer Faruk Öztürk, Usak : Impact of Financial Literacy on Personal Savings: A Research on Usak University Staff, Journal of Knowledge Management, Economics and Information Technology Vol. VII, Issue 6 , Decembri 2017, PP 1-19
MandeepKaur,TinaVohra, AditiArora. Financial Literacy among University Students: A Study of Guru Nanak Dev University, Amritsar, Punjab Asia-Pacific Journal of Management Research and Innovation 11(2) 143–152 © 2015. https://doi.org/10.1177/2319510X15576178 DOI: https://doi.org/10.1177/2319510X15576178
Mathivathani, V. and Velumani, M. A Study on Financial Literacy Among Rural Women in Tamilnadu. Indian Journal of Applied Research, 4(12), 556-557.2014.
Paramashivaiah , P., Puttaswamy and Ramya S.K.Changing Risk Perception of Women Investors: An Empirical Study. Indian Journal of Finance.8(6).2014. https://doi.org/10.17010/ijf/2014/v8i6/71909 DOI: https://doi.org/10.17010/ijf/2014/v8i6/71909
Prasad, D., Shollapur, M.R. and Shridevi V. Indian Women Investors: Emotional Decision Makers? Journal of Small Business and Entrepreneurship Development, 2(1), 31-48. 2014.
PriyankaAgarwal, Dr. (Mohd) ShamimAnsari,Dr.SumanYadav, RadhikaKureel .Study On Financial Literacy Among Working Women In Educational Sector Of Jhansi District: With Special Reference To Investment Avenue, 2015.
Samriti Kamboj: Current Scenario of Financial Literacy in India, International Journal of Entrepreneurship and Small Business Management. Volume 1, Number 1 (2014), pp. 61-68
Sarita Thakur: Financial Literacy in India: Role of SEBI, International Journal for Research in Engineering Application & Management Vol-04, Issue-02, May 2018
Sekar.M, Gowri. M A Study on Financial Literacy and its Determinants among Gen Y Employees in Coimbatore City, Great Lakes Herald Vol 9 , No 1 , March 2015, PP 35-45
Shobha, T.S. and Shalini, S. A Study on the Perception of Women towards Financial Planning in the city of Bengaluru. Asia Pacific Journal of Research, 1(XXX), 14-21.2015.
Sobhesh Kumar Agarwalla, Samir K. Barua, Joshy Jacob, Jayanth R. Varma, FINANCIAL LITERACY AMONG WORKING YOUNG IN URBAN INDIA, Research and Publications, W.P. No. 2013-10-02, PP 1-27. https://doi.org/10.2139/ssrn.2338723 DOI: https://doi.org/10.2139/ssrn.2338723