A STUDY ON RISK PERCEPTION, FINANCIAL LITERACY AND SUSTAINABLE INVESTING AMONG WORKING WOMEN INVESTORS

Abstract

This study investigates the interrelationship between financial literacy, risk perception, and 
sustainable investing behavior among working women investors in Greater Mumbai. With the 
increasing participation of women in income-generating activities and financial decision-making, 
understanding the factors influencing their investment behavior has become essential. The research 
adopts a descriptive and analytical design based on primary data collected from 50 working women 
investors using a structured questionnaire. The study examines demographic characteristics, 
investment preferences, levels of financial literacy, perceptions of investment risk, and awareness 
and adoption of sustainable investing. The findings indicate that most respondents exhibit 
moderate financial literacy and moderate risk perception, reflecting cautious yet rational 
investment behavior. Traditional factors such as safety and return potential significantly influence 
investment decisions. Although awareness of sustainable investing is relatively high, actual 
participation remains limited, highlighting a gap between knowledge and behavioral adoption. 
Hypothesis testing reveals a significant positive relationship between financial literacy and 
sustainable investing behavior, and a significant impact of risk perception on investment decisions. 
The study emphasizes the importance of enhancing financial literacy, strengthening investor 
confidence, and improving clarity regarding sustainable investment products. The findings offer 
insights for financial institutions, policymakers, and educators to design targeted strategies that 
promote informed, inclusive, and sustainability-oriented investment practices among working 
women. 

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