Factors of profitability of the portfolio of a young novice investor
Abstract
Our article is devoted to identifying the factors which can influence the probability of positive investment portfolio return for the young invertors-beginners on the Russian financial market. We have chosen the factors for the analysis following some research by the scientists who highlighted financial literacy and individual characteristics of the investors as the most important for the results of investment. In order to collect the empirical data, the “Investment-game” was developed and proposed to the participants who formed their virtual short-term portfolios. The investors could buy financial assets as non-qualified ones. They answered several questions tested their levels of financial literacy and attitude to the investment process. The data was collected during November 2023 – February 2024. As a method of study, the logistic regression in econometrics was used. Based on the results we can conclude that the most significant factors for the probability of positive investment portfolio return are the investors’ personal characteristics, more precisely, their attitude to risk. Financial literacy is not so crucial. Finally, the financial market conditions can be substantial for the investors-beginners’ financial results.
About the Authors
S. V. Bekareva
Novosibirsk National Research State University (NSU)
Russian Federation
Russian Federation
Candidate of Economic Sciences, Associate Professor
P. V. Samsonova
Novosibirsk National Research State University (NSU)
Russian Federation
Russian Federation
Student
A. V. Getmanova
Novosibirsk National Research State University (NSU)
Russian Federation
Russian Federation
Senior Lecturer
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Review
For citations:
Bekareva S.V., Samsonova P.V., Getmanova A.V. Factors of profitability of the portfolio of a young novice investor. Kazan economic vestnik. 2024;1(1):24-31. (In Russ.)
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