A Descriptive Interpretation of the Relationship between Culture and Investment Decisions
Journal Title: International Journal of Business and Management Invention - Year 2018, Vol 7, Issue 6
Abstract
he investment world is impacted heavily by a myriad of factors including interest rates, inherentrisks, income levels, and economic and politicalfactors. However, a noneconomic factor such as culture, alsodirectly or indirectly impacts how individuals make their investment choices. Culture has influence on how a group of individuals view, value, and approach things differently from their cultural perspectives which includes their investment behavior. Studies exist that different people approach businesses differently due to their cultural values and belief systems. The impact of culture on investment decisions is a phenomenon that has received little attention by finance and academic researchers. In this paper l use descriptive statistics to explore how culture influences investment concentration in the Ghanaian economy. Other factors such as education, and stock market awareness are also used to study investment concentration (why individuals choose to invest in certain areas) in the Ghanaian market. Results in indicate that Ghanaians are immersed in their deeply rooted cultural belief systems that impact how they make their investment decisions. Culture and other factors such as financial education and stock market awareness also accounts for the weak growth potential of the Ghanaian stock market.
Authors and Affiliations
Robert Awobgo-Moah Amoah PhD
Keywords
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