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Asia Pacific Journal of Research

Vol: I. Issue XXVI, April 2015

ISSN: 2320-5504, E-ISSN-2347-4793

INVESTMENT PATTERN AND AWARENESS OF SALARIED CLASS INVESTORS IN


TIRUVANNAMALAI DISTRICT OF TAMILNADU
Mr. C. SATHIYAMOORTHY
Ph.D., Research Scholar and Assistant Professor,
P.G & Research Dept of Commerce,
Adhiparasakthi College of Arts and Science, GB Nagar, Kalavai, Mobile-9003514585.

Dr. K. KRISHNAMURTHY
Assistant Professor and Research Supervisor,
P.G & Research Dept of Commerce, Rajeswari Vedachalam Govt Arts College, Chengalpet

ABSTRACT
The results also highlight that certain factors like education level, age of investors, number of family
members etc make significant impact while deciding on the avenues for investment. The present study is based
on primary sources of data which are collected by distribution of a close ended questionnaire. The data has
been analyzed using chi-square test. The research shows that majority of the respondents are saving money as
Bank deposits for the safety of an unpredictable future. This article highlights investment pattern and
awareness of salaried class investors in Tiruvannamalai district of Tamilnadu.
KEY WORDS
Investment Management, Investment Pattern, Awareness and Salaried Class Investors
INTRODUCTION
A study on investment management starts with the question of what investment is. The word
investment has many interpretations as it means different things to different persons. For a person who has
lent money to another, it may be an investment for a return. Similarly, if a person purchases shares of a
company, bullion or real estate for the purpose of price appreciation, an investment for him. Likewise, an
insurance plan or a pension plan is an investment to its purchaser. It is clear that investment is a commitment
of funds for earnings additional income. In other words, investment is considered the sacrifice of certain
present value of money in anticipation of a reward. Financial investment means employment of funds in the
form of assets with the objects of earning additional income or appreciation in the value of investment in
future. Assets which are the subject matter of investment may be varying between safe and risky ones. Certain
investment like bank deposits, post office certificates, company deposits, life insurance, mutual fund, chit fund
and real estate and so on, yield only income. If the investments are in the form of assets such as shares in
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Asia Pacific Journal of Research

Vol: I. Issue XXVI, April 2015

ISSN: 2320-5504, E-ISSN-2347-4793

companies, land and buildings and the like, they record capital appreciation. On the other hand, investments in
the government securities listed on a recognized stock exchange are easily transferable and marketable. Some
investments whose values fluctuate widely and whose returns are uncertain are regarded as risky investments.
Purchase of marketable securities, which is regarded as financial investment, is expected to yield income in the
form of interest or dividend along with appreciation in their values.
INVESTMENT
Investment is undertaken in the expectation of return which is in proportion to the risk the investor
assumes. Investment is often confused with the terms such as speculation and gambling and hence it is
essential to differentiate investment from speculation and gambling.
PORTFOLIO MANAGEMENT
Portfolio Management is the process of selecting a bench of securities that will provide the investing
organisation a maximum yield for a given level of risk or alternatively ensures minimum risk for a given level
of return.
DIFFERENT INVESTMENT AVENUES (PATTERN)
The objective of any investment is the maximization of the economic welfare of the investor in the
long run. Welfare of the investor relates to two important aspects, namely, maximization of his wealth and
liquidity offered by the wealth. The term wealth maximization itself is further divided into three components
namely cash return, capital appreciation and safety. Thus, the objectives of investors may be summarized as
follows:
Capital Appreciation
Capital appreciation is one of the important objectives of investment. Investments involve real assets
or financial assets. Real assets are tangible assets such as land, building, automobiles and bullions, whereas
financial assets refer to pieces of paper having an indirect claim to real assets held by some others (stock
certificates).
Safety
Investors, while investing their hard earned money consider Safety as the essential objective of
investment. Safety is the vital aspect as to why many investors are quite contended with low yield investments.
They keep away from other investment options which are not cent per cent safe.
Liquidity
The liquidity of an investment refers to the
degree of its
ready encashability. Generally, investors prefer investments which offer higher liquidity. Typically savings
accounts and term deposits with banks are readily encashable. Liquidity is meaningful only when incidence,
timing and severity of liquidity needs of the investors cannot be known in advance.
Tax Planning
As the income tax rates vary from 10% to 30% with a surcharge, the tax liability of those with higher
income brackets is somewhat heavy. The interest earned by the investor form his investment is a taxable
income and in certain cases tax is to be deducted at source of interest income (TDS).
Gold and Silver
Investors like to invest in jewellery instead of pure gold. Gold is the primary form of saving to
housewives. Though it is believed that gold price appreciates many times, the price of gold had declined in late
1990s.Certain banks and agencies were allowed to import gold which led to huge stocks of gold. The gold
prices crashed in international markets too in the late nineties, lack of demand from Asian countries which
have the largest users of gold in the world.
Real Estate
Real estate includes land and house property. It is true to say that real estates offer a rate of return
which is superior to avenues such as company deposits on a long term basis. Now-a-days more and more
investments are made in the form of real estates.
Life Insurance
Life insurance is a contract for payments of a sum of money to the person who is insured with the
insurance company on the happening of event insured against. Generally, it is a contract between the insurance
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Asia Pacific Journal of Research

Vol: I. Issue XXVI, April 2015

ISSN: 2320-5504, E-ISSN-2347-4793

company and the insured for a number of years covering either the life-time period or a fixed number of years.
Though the primary aim of taking a life insurance policy is coverage of risk, of late, the policy partakes all the
characteristics of an investment. The annual bonus which is accruing to the policyholders gets accumulated
into a substantial amount over a period of time.
Bank Deposits
Among investments, deposits with banks are more popular. Banks have introduced different types of
deposit accounts with various facilities and privileges. Traditionally, deposits with banks are classified into
three categories, namely,(a) savings deposits account (b) fixed deposits account and (c) current accounts.
Post Office Schemes
Generally, post office schemes are also like the commercial bank schemes. Originally institution called
Trustee savings banks were operating the savings bank account. These institution became extinct gradually
and the postal savings account. As this account became popular, the government of India could collect
crores of rupees through this account. Apart from this savings banks account, post office offers various
schemes which prove to be attractive for the investors who attach utmost importance to safety aspect.
Fixed Deposit Schemes in Companies
Generally, public limited companies in the private sector offer fixed deposit investment schemes. Such
deposit schemes may be cumulative or non-cumulative and they are offered through newspaper
advertisements. These schemes are governed by the provisions of the companys rules of 1975. The
announcement of fixed deposit scheme gives particulars such as name of the company, date of incorporation,
types of business carried on by the company, names address and occupation of the director, particulars of
profits and dividends, latest audited balance sheet, particulars of contingent liabilities, amount to be raised in
the fixed deposit scheme, amount of deposit already help by the company, declaration that the fixed deposit is
within the purview of the deposit Rules of 1975, etc.
Provident fund Schemes
Provident fund schemes are a retirement benefit scheme. Under this scheme, a stipulated sum is
deducted from the salary of the employee as his contribution towards the fund while he/she is in service as
his/her contribution. The employer also, generally, contributes simultaneously an equal amount to the fund.
The employees and employer study contributions are invested in gilt-edged securities. Interest earned thereon
is also credited to the provident fund account of employees.
Mutual Fund Schemes
Definition of mutual funds: The Securities and Exchange Board of India (Mutual funds) Regulations,
1993 define mutual fund as a fund established in the form of a trust by a sponsor to raise monies by the
trustees through the sale of units to the public, under one or more schemes for investing in securities in
accordance with these regulations.
Government Securities
The securities issued by the central, state and quasi-governments are known as a Government securities
or gilt edged securities. On the other hand, Government guaranteed securities are those securities the income
and capital of which are claim on the Government. The rates of interest on these securities are relatively lower
because of their high liquidity and safety. Government securities in India have a large market. Promissory
notes and stock certificates are the important forms of Government securities.
STATEMENT OF THE PROBLEM
Investment has been an activity confined to the rich and salaried class in the past. This can be attributed
to the fact that availability of investible funds is a pre-requisite to development of funds. But, today the find
that investment has become a household world and is very popular with people from all walks of life.
Generation of savings and its conversion into capital is fundamental to the theory of economic growth. The
volume and composition of savings are important in the process of economic development of any nation.
Savings in the form of financial assets derives its importance in a developing country like India on the ground
that these savings can be channelized for capital formation. In India, households are the largest contributors to
the national pool of savings. Their share in net domestic savings in India remains around 75 per cent on an
average. The various investment avenues for people to invest their money are post office schemes, mutual
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Asia Pacific Journal of Research

Vol: I. Issue XXVI, April 2015

ISSN: 2320-5504, E-ISSN-2347-4793

funds, bank deposits, RBI bonds, share market, life insurance and so on. An investor can choose from a variety
of funds to suit his risk tolerance, various investment avenues and objectives. Against this background, the
researcher has taken up this topic.
The investors are finding various problems in selecting their various investment avenues. It is identified
that there is a need for research work in the field of investment pattern and awareness of salaried class
investors in Tiruvannamalai district of Tamilnadu.
REVIEW OF LITERATURE AND RESEARCH GAP
This research has reviewed 101 studies, which include 77 Indian and 24 foreign journals. The previous
discussion of the literature identified significant gap that will be explored in the thesis. Most of the studies in
the area of savings behaviour, investment behaviour of household by studying the reasons for saving, attitude
towards saving and extent of risk taken by respondents, investment pattern and tax saving planning towards
investment are limited for comparing with respect to risk judgments and investment decisions of Individual
investors are influenced by accounting risk measures and market. The present study covered level of awareness
on the basis of investment pattern, motivated factors in your investment, factors influencing your investment
decisions, investment portfolio, problems faced by the investors and risk factors. But no study on investment
pattern and awareness of salaried class investors in Tiruvannamalai district of Tamilnadu. The reviews of
related literatures have been detailed in second chapter.
OBJECTIVES OF THE STUDY
The objective of the study is to understand the investment pattern and awareness towards salaried class
investors in Tiruvannamalai district. For this, the specific objectives of the research work are as under:
1. To ascertain the factors motivated to your investment preference and portfolio towards salaried class
investors.
2. To analyze the factors influencing the investors perception and awareness regarding different
investment patterns in Tiruvannamalai district.
3. To measure the investors level of satisfaction towards different investment patterns in Tiruvannamalai
district.
4. To identify the problems faced by the investors towards investment pattern in Tiruvannamalai district.
5. To offer suitable suggestions to measure the investment pattern and awareness towards salaried class
investors in Tiruvannamalai district.
HYPOTHESES
The following testing of hypotheses framed and formulated for the study.
Ho 1: There is no significant difference between nativity of the respondents and investment pattern and
awareness of salaried class investors.
Ho 2: There is no significant difference between occupation of the respondents and investment pattern and
awareness of salaried class investors.
Ho 3: There is no significant influence in the investment preference and demographic profile of the
respondents
Ho 4: There is no significant different between earning members in the family and motivational factors of
investments.
Ho5: There is no significant different between earning members in the family and savings-towards investment
patterns.
Ho6: There is no significant influence of the demographic profile and the investors problems.
RESEARCH METHODOLOGY
The present study is based on field survey method. The study is purely empirical and analytical which
is supported by only primary data. The questionnaire for investors, with four sections, was developed and
finalized. The first part of the schedule comprise of demographic profile with optional questions. The second
part contained statement about Level of awareness on the basis of investment (pattern) avenues (Factors
Motivated to your Investments, factors influencing your investment Decisions, savings -towards investment
patterns, investment portfolio, preference of your investment, factors influence of investment preference,
variables considered by you while investing in fund, performance of your investment/ savings, information
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Asia Pacific Journal of Research

Vol: I. Issue XXVI, April 2015

ISSN: 2320-5504, E-ISSN-2347-4793

from various investment avenues, technical aspects of the investments ). The last and third part contained
problems faced by the investors towards the investment pattern with Likerts five point scales.
Primary Data
The primary data were collected directly from the sample investors through a well-devised
questionnaire. Incomplete and inaccurate responses were dropped out, upon the respondents having select
investment pattern and awareness of salaried class investors in Tiruvannamalai district of Tamilnadu.
Secondary Data
The secondary data relating to the study were collected from books, journals, research articles,
magazines, reports, newspapers and websites. The researcher also visited the library of Indian Institute of
Management, Bangalore for the collection of some source materials.
Sampling Design
The Stratified Random sampling method was adopted for the study. The study is confined to
Tiruvannamalai district only. Since the size of universe is infinite, the researcher decided to select a sample
size of 960 respondent investors. Tiruvannamalai district comprises of eight taluks namely, Arani, Changam,
Cheyyar, Kalasapakkam, Polur, Thandarapattu, Tiruvannamalai and Vandavasi. From each Taluk 120
respondents were selected for the study. These 960 respondents are chosen from Government and private
employees in Tiruvannamalai district. The required information was collected with the help of structured and
unstructured questionnaire and through discussions with these respondents.
Statistical Tools Used for the Analysis
The following statistical techniques had been applied depending on the nature of data collected from
the respondents, Percentage analysis, descriptive analysis; Independent samples T-test, one way ANOVA, and
factor analysis. The reliability of the data in this study was analysed using Statistical Package for Social
Sciences (SPSS v 20.0). For analyzing the data collected during the investigation, the following statistical
values were used according to the relevance of its application.
SCOPE OF THE STUDY
The present study covered level of awareness on the basis of investment pattern, motivated factors in
your investment, factors influencing your investment decisions, investment portfolio, problems faced by the
investors and risk factors. But no study on investment pattern and awareness of salaried class investors in
Tiruvannamalai district of Tamilnadu.
PILOT STUDY
The pilot study was conducted among 50 investors. The reliability of variables in each construct was
confirmed through the pilot study. On the basis of the results of the pilot study, a certain modification has been
carried out in the statements or variables. Accordingly, the questionnaire has been restructured and the final
schedule was prepared, conducting the field work.
PERIOD OF THE STUDY
The present study covered only primary data. The primary data has been collected in a period of six
months from November 2014 to April 2015 for the purpose of analysis and evaluation. This period was
considered to be normal for a study like this.
INVESTORS PERCEPTION AND AWARENESS REGARDING DIFFERENT INVESTMENT
PATTERN -AN ANALYSIS
T test was applied to ascertain if there were any significant difference between investor nativity and
information to gather various investment avenues and the following null hypotheses has been formulated:
Ho 1: There is no significant difference between nativity and information to gather various investment avenues.

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Asia Pacific Journal of Research

Vol: I. Issue XXVI, April 2015

ISSN: 2320-5504, E-ISSN-2347-4793

Table 1
To gather Information from Various Investment Avenues
Investment Preferences

Nativity

Rural
Urban
Total
Rural
Investment from Friends
Urban
and Relatives
Total
Rural
News Papers /Investment
Urban
Magazines
Total
Rural
Investment from
Government Publications
Urban
and Propaganda
Total
Rural
Brokers/Agents/ Financial
Urban
Advisors
Total
Rural
Investment Companies
Urban
Total
Rural
Investment from
Urban
Government Agencies
Total
Rural
Prospects/Brochures/ News
Urban
Letters
Total
Rural
Urban
Hoarding and Banners
Total
Rural
Electronic Media
Urban
(TV/Radio)
Total
Source: Computed form Primary data
Investment from Family
Members

Mean

S.D

Std. Error

671
289
960
671
289
960
671
289
960
671
289
960
671
289
960
671
289
960
671
289
960
671
289
960
671
289
960
671
289
960

3.578
3.938
3.686
3.595
3.955
3.703
3.742
4.284
3.905
2.894
3.114
2.960
3.602
3.675
3.624
3.025
3.114
3.052
3.212
4.121
3.485
2.979
2.803
2.926
3.256
3.017
3.184
3.481
2.740
3.258

1.127
1.069
1.122
1.356
1.011
1.272
1.093
0.567
0.997
1.371
1.260
1.342
1.175
0.945
1.111
1.276
1.092
1.223
1.239
0.733
1.186
1.179
1.369
1.241
1.156
1.547
1.290
1.231
1.244
1.280

0.044
0.063
0.036
0.052
0.059
0.041
0.042
0.033
0.032
0.053
0.074
0.043
0.045
0.056
0.036
0.049
0.064
0.039
0.048
0.043
0.038
0.046
0.081
0.040
0.045
0.091
0.042
0.048
0.073
0.041

Sig.
(2-tailed)

-4.702

0.001*

-4.549

0.001*

-10.066

0.001*

-2.416

0.016*

-1.012

0.312

-1.098

0.273

-14.125

0.001*

1.907

0.057

2.359

0.019*

8.492

0.001*

Table 1 shows that the mean value of urban investors are to gather more information through family
members, friends and relatives, newspapers/investment magazines, government publications and government
agencies as compared rural investors. However, the rural investors are to gather more information through
hoarding and banners and electronic media (TV/Radio) as compared to urban investors. Regarding the view
on the nativity and significant influencing to gather information from various investment avenues variables are
like investment from family members (-4.702), investment from friends and relatives (-4.549), news papers or
investment magazines (-10.066), investment from government publications (-2.416), investment from
government agencies (-14.125), hoarding and banners (2.359) and electronic media of TV or Radio (8.492) are
significant at five per cent level. Hence, it is the formulated null hypothesis there is no significant difference
between nativity and information to gather various investment avenues is rejected. However the nativity and
brokers/financial advisors, nativity and investment companies, nativity and prospects/news letters are not
significant at five per cent level. Hence, it is the formulated null hypothesis there is no significant difference
between nativity and information to gather various investment avenues is accepted.
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Asia Pacific Journal of Research

Vol: I. Issue XXVI, April 2015

ISSN: 2320-5504, E-ISSN-2347-4793

Testing the significant difference between nativity and awareness level about technical aspects of the
investments
T test was applied to ascertain if there were any significant difference between investor nativity and
awareness level about technical aspects of the investments and the following null hypotheses has been
formulated:
Ho 2: There is no significant difference between nativity and awareness level about technical aspects of the
investments.
Table 2
Awareness Level about Technical aspects of the Investments
Sl.
Sig.
Sources
Nativity
N
Mean
S.D
Std. Error
T
No.
(2-tailed)
Rural
671
2.648
1.274
0.049
1
Market Risk
Urban
289
3.118
1.339
0.079
-5.056
0.001*
Total
960
2.790
1.311
0.042
Rural
671
2.629
1.353
0.052
Scheme Information
2
Urban
289
2.931
1.234
0.073
-3.376
0.001*
Documents
Total
960
2.720
1.325
0.043
Rural
671
3.306
1.404
0.054
NAV(Net Annual
3
Urban
289
3.965
1.030
0.061
-8.117
0.001*
Value)
Total
960
3.504
1.337
0.043
Rural
671
3.526
1.376
0.053
Open-end/Close-end
4
Urban
289
3.913
1.052
0.062
-4.749
0.001*
Fund
Total
960
3.643
1.299
0.042
Rural
671
2.978
1.232
0.048
Types of fund/
5
Urban
289
2.671
1.193
0.070
3.614
0.001*
Scheme
Total
960
2.885
1.228
0.040
Rural
671
2.647
1.372
0.053
6
New Fund Offer
Urban
289
2.720
1.568
0.092
-0.686
0.493
Total
960
2.669
1.433
0.046
Source: Computed form Primary data
Table 2 shows that the calculated t value of nativity and market risk (-5.056), nativity and scheme
information documents (-3.376), nativity and net annual value (-8.117), nativity and open-end/close-end fund,
(-4.749), nativity and types of fund/ scheme (3.614) are significant at five per cent level. Hence, it is the
formulated null hypothesis there is no significant difference between nativity and awareness level about
technical aspects of the investments is rejected. However, the calculated t value of (-0.686) nativity and new
fund offer are not significant at five per cent level. Hence, it is the formulated null hypothesis there is no
significant difference between nativity and awareness level about technical aspects of the investments is
accepted.
Testing the significant difference between occupation and investment portfolio of the investors
T test was applied to ascertain if there were any significant difference between investor occupation and
the investment portfolio of the investors and the following null hypotheses has been formulated:
Ho 3: There is no significant different between occupation and investment portfolio of the investors.

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Table 3
Investment Portfolio
Investment
Avenues

Occupation

Mean

S.D

Std. Error

Sig.
(2-tailed)

Govt. Employee
480
3.042
1.481
0.068
8.500
0.001*
Private Employee
480
2.281
1.283
0.059
Total
960
2.661
1.437
0.046
Govt. Employee
480
2.388
1.507
0.069
Bank
-3.050
0.002*
Private
Employee
480
2.673
1.390
0.063
Deposits
Total
960
2.530
1.456
0.047
Govt. Employee
480
4.079
1.023
0.047
5.129
0.001*
Real Estate
Private Employee
480
3.698
1.267
0.058
Total
960
3.889
1.167
0.038
Govt. Employee
480
2.473
1.390
0.063
6.847
0.001*
Gold and Silver
Private Employee
480
3.079
1.353
0.062
Total
960
2.776
1.404
0.045
Govt. Employee
480
3.044
1.482
0.068
Life insurance
-8.683
0.001*
Private
Employee
480
2.283
1.219
0.056
schemes
Total
960
2.664
1.408
0.045
Govt. Employee
480
2.675
1.489
0.068
-0.847
0.397
Pension Fund
Private Employee
480
2.758
1.559
0.071
Total
960
2.717
1.524
0.049
Govt. Employee
480
3.848
1.145
0.052
-0.536
0.592
Chit Funds
Private Employee
480
3.888
1.143
0.052
Total
960
3.868
1.144
0.037
Govt. Employee
480
3.248
1.507
0.069
-1.895
0.058
Corporate bonds
Private Employee
480
3.423
1.350
0.062
Total
960
3.335
1.433
0.046
Govt. Employee
480
2.877
1.307
0.060
3.298
0.001*
Govt. Bonds
Private Employee
480
2.563
1.631
0.074
Total
960
2.720
1.485
0.048
Govt. Employee
480
3.288
1.248
0.057
-0.692
0.489
Mutual Funds
Private Employee
480
3.344
1.270
0.058
Total
960
3.316
1.259
0.041
Govt. Employee
480
3.417
1.323
0.060
1.065
0.287
Shares
Private Employee
480
3.321
1.461
0.067
Total
960
3.369
1.394
0.045
Govt. Employee
480
2.950
1.536
0.070
-4.361
0.001*
Provident Fund
Private Employee
480
2.519
1.528
0.070
Total
960
2.734
1.546
0.050
Source: Computed form Primary data
Table 3 shows that the calculated t value of post office deposits, (8.500), bank deposits (3.050), real
estate (5.129), gold and silver (6.847), life insurance schemes (-8.683), Government bonds (3.298), and
provident fund (-4.361) are significant at five per cent level. Therefore, the formulated hypothesis of there is no
significant difference between occupation and investment portfolio of the investors of the above variables is
rejected. However, the is no significant difference observed between occupation and pension fund, occupation
and chit funds, occupation and corporate bonds, occupation and mutual funds, occupation and shares and the
respective t value of -0.847, -0.536, -1.895, -0.692, 1.065 indicates not significant at five per cent level. And
therefore the formulated hypothesis of the above variable is accepted. Further, the mean value indicates that the
post office deposits, real estate, life insurance scheme, Government bonds, provident fund are the high level
investment portfolio of the government employees. In the case of private employees high level portfolios are
bank deposits and gold and silver only.
Post Office
Deposits

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SUGGESTIONS OF THE STUDY


The study also reveals most of the salaried investors prefer Bank deposits, insurance policies and
Government securities as the investment option, there is lack of awareness about other avenues like
shares, debentures, and mutual fund etc. so if they want to invest in them they should regularly read
newspapers, journals and articles related to stock market.
The investors have to identify the market situation and price fluctuations in the precious metals
before taking the investment decision.
To enhance the saving habits of the investors, the saving mode must attract the people by providing
several offers and new attractive schemes.
There are wide range of investment avenues are now available in India. Investors himself select the
best avenue after studying the merits and demerits of different avenues.
The savings are to be pooled and channelized into productive investments. Thereby enhancing the
return to the investor which may result in the further investment in corporate securities also.
To create the awareness among the rural investors is possible to increase the investments in share
market and their by the rural investors also to reap the benefits of the stock market investment.
To create awareness among the investors in the district have inadequate knowledge about share
market, it is necessary to provides various marketing schemes and broking firm should arranges
more and more seminars on how to invest in share market.
Majority of the investors prefers to invest in the life insurance, NSC and PPF for tax saving so,
investment companies should market various tax saving schemes through share market and their
benefits.
CONCLUSION
Salaried class investors are investing the future benefits. They allocate their savings in various aspects
of investment avenues. Most of them will look after the safety of their investment rather than high returns. The
study reveals that bank deposit still remains the most preferred investment avenues of the households. The
results also highlight that certain factors like education level, age of investors, number of family members etc
make significant impact while deciding on the avenues for investment. The present study is based on primary
sources of data which are collected by distribution of a close ended questionnaire. The data has been analyzed
using chi-square test. The research shows that majority of the respondents are saving money as Bank deposits
for the safety of an unpredictable future. The main avenues of investment are Bank deposits and the main
purpose of investment is for children education, marriage, and security after retirement.
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