Female Faculty Memberss Investment Decision Making for Retirement Planning in the Shadow of Holistic Decision Making Model

Abstract

Retirement planning is an integral part of financial planning for any individual. Every individual looks forward to spending the post retirement years in the lap of luxury. A person needs to take challenging investment decisions in order to optimally plan for retirement. These decisions as per finance theories have been motivated by reasoning while unfortunately the intuition aspect has been portrayed in a negative manner by behavioural finance advocates. Taking a clue from ‘MBA model’ proposed by eminent expert in Indian Management, Prof. Subhash Sharma, the Supervisor of the proposed doctoral work has extended the model by proposing a new model namely ‘Holistic Decision Making Model (HDMM)’ in a working research paper. Increasing the curiosity of the researcher, some past researches have hinted at efficacy of this model and the proposed research work seeks to explore the extent to which decision making is actually influenced by HDMM compared to behavioural finance. Furthermore the researcher seeks to evaluate attitude of female faculty members towards investment for retirement planning taking a sample of about 600 female teachers working in prominent institutions of Rajasthan. The outcome shall not only test efficacy of HDMM but also provide required guidelines to women to plan for retirement in better manner.In case the researcher can find some relevance of HDMM, it shall be a novel contribution in the field of Investment Management.