An Exploration on the Influencing Factors of Investment Decisions of Healthcare Professionals in Pathanamthitta District, Kerala, India

Abstract

This dissertation investigates the investment practices of medical professionals in Kerala, India's Pathanamthitta District, with an emphasis on how socioeconomic factors, risk tolerance, and external influences affect their financial choices. The study seeks to identify the major factors influencing investment decisions within this population. Using a mixed-methods approach, quantitative survey data and qualitative interview insights were combined. While the interviews gave a deeper knowledge of the impact of social networks, market movements, and legislative changes on investing strategies, the survey investigated characteristics including income level, educational background, employment status, and risk tolerance. The results show that healthcare workers have a high preference for low-risk assets, which aligns with a risk-averse attitude, such as gold and fixed deposits. Socioeconomic characteristics, including income and education, have a substantial impact on these investing preferences, as the research indicates. It is noteworthy that even with advanced degrees, a considerable number of professionals maintain a conservative stance, implying that education is not a proper way of reducing risk aversion. Furthermore, the analysis shows that although outside variables such as economic and market developments are considered, they do not significantly influence investing choices. It was discovered that socioeconomic origins and individual financial objectives had greater influence. The study also identifies obstacles that prevent healthcare personnel from making wise investing decisions, including time constraints and restricted access to financial guidance. In summary, this dissertation offers insightful information about the investment habits of healthcare professionals in Pathanamthitta. It also makes actionable suggestions for policy makers and financial advisors to raise the level of financial literacy among this population and encourage wise investment choices.