Behavioral Biases And Investment Performance: Does Gender Matter? Evidence From Indian Stock Exchange

This research examines how Behavioral biases affect investment performance, with a focus on gender differences among retail investors in India.While conventional finance theories operate under the premise of rational decision-making, Behavioral finance reveals that cognitive biases-like overconfidence, anchoring, representativeness, and confirmation bias-can profoundly influence investment results.A detailed survey was conducted with 200 retail investors throughout India.The results indicate that both male and female investors are influenced by Behavioral biases; however, there are significant gender-related differences.Male investors display higher degrees of overconfidence and anchoring biases, while female investors show increased risk aversion and a more pronounced inclination toward confirmation bias.These differences indicate that gender influences how Behavioral biases relate to investment outcomes.The research highlights the necessity of integrating gender-focused approaches in financial advisory services and investor education initiatives to reduce the negative impact of cognitive biases and improve decision-making in investments.