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The foremost factor to be considered while making investment decisions is the performance of the companies, which is measured on the basis of past performance in terms of market price of securities, earning per share, dividend per share , rate of return, and prospects of growth. However, investors should be cautious in applying the historical information for forecasting purposes. Historical record of better performance may not be there in future due to the exit of any key personnel and changes in any other business environment. The benefit from investment depends to a large extent on the correct market timing. The investor can purchase securities just before raising the price and can sell just before decreasing the price, so as to achieve superior benefit from the stock market than other investors. In the case of any confusion regarding the market timing, risk can be minimized by investing in a portfolio rather than investing in a particular individual asset. VII. SCOPE FOR THE FUTURE STUDY The sample of this study was limited to individual investors. Future studies have to determine whether the specific results of this study also hold for the behavior of institutional and professional investors. Yet, individual investors constitute an important group in the financial marketplace and their decisionmaking behavior is likely to have an impact on the stock market as a whole. Survey research can contribute in important ways to increase the understanding of investor behavior which would have possible effect of this behavior on overall stock market dynamics. Yet, for a true understanding of the dynamical properties of interactions between micro level investor behavior and macro level stock market dynamics, survey research has to be supported by additional research techniques. VIII. CONCLUSION This study provides some clues on the behavior of investors on the stock market. Although the number of respondents is relatively low, it may emphasize some key aspects. This project individual investor behavior makes an attempt to discover the relationship between a dependent variable i.e., Risk seeking behavior of the investor and independent variables such as Age, Gender of an individual investor on the basis of the survey. From the empirical study it was found that irrespective of gender, most of the investors (51%) are found have low risk tolerance level and many others (21%) have moderate risk tolerance level and only 11% of them have high risk tolerance level. It is also found that there exists significant difference between stock market experience and reaction to bearish market. Personal financial needs largely influence the investor’s decisions in stock entry and exit. REFERENCES &BIBILIOGRAPHY Kothari.C.R. Research Methodology methods and Techniques (Revised Ed; New Age International (P) Ltd, 2008 S.P Gupta and M.P Gupta, Business Statistics (15 th ed; New Delhi: Sultan Chand & Sons, 2008), Ch.XVI, p.518. C.D. Harbury, D.M.W.N. Hitchens, (1983) "Personal Fortunes, Inheritance and Investment Behaviour", Managerial Finance, Vol. 9 Iss: 3/4, pp.9 – 14 Anand, S., Murugaiah,V.,“Marketing of financial services:strategic issues”, SCMS Journal of Indian Management. 2004 Badla, B S., Garg, A.,“Performance of Mutual Funds in India– An Empirical Study of Growth chemes”, GITAM Journal of Management, Vo1. 5, No.4, pp. 29-43. 2007 Desigan et al. (2006),“Women Investor’s Perception towards Investment: An empirical Study”, Indian Journal of Marketing. [Oline] Available: http://www. google.com.(accessed on 22nd May 2010). Sankaran, S.,“Mutual Funds: Can you afford to ignore them?”Portfolio organizer special issue, Vol. June, No. 2, pp. 23-37. 2004. www.theinternationaljournal.org > RJEBS: Volume: 02, Number: 09, July-2013 Page 20
Women Empowerment in Rural Areas: An Empirical Analysis of Financial Sustainability of Women Self Help Groups in Kerala Dr. Ebrahim Kunju Sulaiman, Associate Professor, School of Management & Business Studies,Mahatma Gandhi University,Priyadarshini Hills (P.O), Kottayam, Kerala, India I) Introduction The Self Help Groups (SHGs) are small informal associations created for the purpose of enabling members to reap economic benefit out of mutual help, solidarity, and joint responsibility. The groupbased approach not only enables the poor to accumulate capital by way of small savings but also helps them to get access to formal credit facilities. These groups by way of joint liability enable the poor to overcome the problem of collateral security and thus free them from the clutches of moneylenders. The SHGs as a system has infused certain synergy among its members to move up in the socio-economic ladders from passive onlooker into an active partner/stakeholder in the development process. Self-help groups (SHGs) are fast emerging as powerful tool of socio-economic empowerment of the poor in our rural areas. SHGs are initially formed on the foundation of the accumulated endowment of bonding social capital already existing in the community. The social capital produced by the SHG as it matures through creation of new ties and linkages, strengthens the community’s cooperative capacity to the achievement of group government. The SHG scheme has been extensively used by voluntary agencies for a long time but has been incorporated in the conventional development programmes only recently. The SHGs have proved to be successful in addressing the interests of women in a sustained manner. They are extremely useful in generating savings, ensuring successful delivery of credit to individual women and effecting recovery. In addition, they serve as an ideal mechanism for bringing women out of their homes, making them more articulate and honing their leadership qualities and their skills as motivators. Entrepreneurship through Self-Help Groups (SHG) enables the rural poor to earn their own livelihood besides participating in the process of development. A typical rural women’s self-help group is a good example of capacity building for prospective entrepreneurs. Its aims to include enabling members with no educational or industrial or entrepreneurial background to become self-dependent and self-reliant by developing and enhancing the decision-making capacity of members and instilling in them the strength and confidence for solving their problems. They provide poor people a forum where they can learn about collectively mobilising and managing money and matters. II) Statement of the Problem Right from the mid-eighties of the past century micro-finance has become a key strategy for poverty alleviation and empowerment of women in Kerala. About 98 percent of the self-help groups in Kerala are women groups. The early nineties marked a new era for micro-finance programmes in the State with the evolution of the Community Development Society (CDS) model, and the setting up of Kudumbasree – the poverty eradication programme of the State Government – has given a boost to the SHG strategy. There is a general tendency to consider SHGs as a panacea for all the ills of the rural community. This is evident from the mushroom growth of self-help groups in the State. In many cases it has been a blind replication of success models without considering the intricacies involved in group formation and sustainability. There has been a long-standing debate over the sharpness of the trade-off between 'outreach' (the ability of SHG’s microfinance activities to reach poorer and more remote people) and its 'sustainability' (its ability to cover its operating costs - and possibly also its costs of serving new clients - from its operating revenues). There are also many possible concerns, both www.theinternationaljournal.org > RJEBS: Volume: 02, Number: 09, July-2013 Page 21
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