INVESTOR CHARACTERISTICS, ASSET ALLOCATION AND PORTFOLIO OUTCOMES: A CATEGORICAL ASSOCIATION ANALYSIS
DOI:
https://doi.org/10.65009/6ntd1316Keywords:
Investor characteristics, Investor profile, Asset allocation, Portfolio outcomes, Investment experience, Categorical analysis,,Abstract
This study examines the demographic and investment-related characteristics of individual
investors and their broad correspondence with prevailing asset allocation patterns and portfolio
outcomes. Whereas most empirical tests of the allocation–outcome relationship treat the investor
as a homogeneous unit, this paper foregrounds the investor's profile age, gender, occupation,
monthly household income, and investment experience, as the starting point for understanding
how individual investors are distributed across allocation categories and portfolio outcomes. Using
data drawn from a sample of 240 individual investors, the study presents a detailed descriptive and
categorical profile across seven dimensions: age, gender, occupation, income, investment
experience, asset allocation pattern, and portfolio price movement. Asset allocation is, by design,
evenly distributed across four categories, while portfolio outcomes are concentrated in the 'Stable'
category, followed by 'Increased' and 'Decreased'. The paper concludes by identifying respondent
level, cross-tabulated data collection as a priority for future inferential research linking investor
profile directly to allocation behaviour and portfolio outcomes.
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