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Herd mentality in investment decision making: an empirical study mediated through emotional and psychological aspects

N.A. Nonika et al.

International Journal of Behavioural Accounting and Finance2025https://doi.org/10.1504/ijbaf.2025.150271article
ABDC C
Weight
0.50

What the paper says

The aim of the study is to identify the type of herd mentality exhibited by the Indian investors and its impact on their investment journey mediated through the emotional and psychological aspects. The study is a quantitative analysis of Indian investors belonging to middle-class families. 390 primary datasets were collected, and questions about herd mentality behaviour were asked. The investigation includes the role of the investors' perceived emotional and psychological levels as a mediator. The results show a significant impact of herd mentality behaviour on the investment satisfaction derived by Indian investors. The herd mentality in Indian investors differs based on demographics, including gender, age group, marital status, education level, type of capital market they invest in, and the type of product these investors prefer to buy. The role of an investor's emotional and psychological being is of a partial mediator. The study is a novel attempt to understand the middle-class family-specific Indian investor's herd mentality behaviour.

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https://doi.org/https://doi.org/10.1504/ijbaf.2025.150271

Or copy a formatted citation

@article{n.a.2025,
  title        = {{Herd mentality in investment decision making: an empirical study mediated through emotional and psychological aspects}},
  author       = {N.A. Nonika et al.},
  journal      = {International Journal of Behavioural Accounting and Finance},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1504/ijbaf.2025.150271},
}

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Herd mentality in investment decision making: an empirical study mediated through emotional and psychological aspects

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.