Published Paper Details:

It is believed that an individual is rational. He takes financial decisions after thorough evaluation of all available investment alternatives given their risk level and thereby maximizes his wealth. However, Several studies in the recent years have proved that rationality is not the only factor influencing financial decisions of an individual. There are many other factors influencing it. This study seeks to understand impulsive personality trait as a factor affecting financial risk behavior of individuals. It studies degree of risk that an investor can assume in impulsivity. Every individual is impulsive to some extent and this impulsivity affects his decisions including financial decisions. In this study, these impulsive traits are identified and further their impact in financial risk behavior has been studied. It has been found that impulsivity and risk level are positively correlated. Further, no statistically significant difference was found between these impulsive personality traits and varying degrees of risk.