Finance research report

1 Rahul Prakash 08982419919

A

RESEARCH REPORT

ON

“A STUDY ON INVESTORS’ PERCEPTION TOWARDS

INVESTMENT IN COMMODITY MARKET WITH SPECIAL

REFERENCE TO DERIVATIVES”

Submitted in partial fulfillment for the award of the degree

Master of Business Administration

Chhattisgarh Swami Vivekanand Technical University, Bhilai

Approved By Guided By

Dr. Saket Ranjan Praveer Mr. Rishi Kumar Tripathi Head of the Department (Assistant Professor)

ShriShankaracharya Group of Institutions

Faculty of Management Studies Approved By AICTE

(Managed by ShriGangajali Education Society, Bhilai)

JUNWANI, BHILAI-490 020 (CHHATTISGARH), INDIA


DECLARATION

I the undersigned solemnly declare that the report of the research work entitled

“A STUDY ON INVESTORS’ PERCEPTION TOWARDS INVESTMENT IN COMMODITY MARKET

WITH SPECIAL REFERENCE TO DERIVATIVES” based on my own work carried out during

the course of my study under the supervision of MR. RISHI KUMAR TRIPATHI.

I assert that the statements made and conclusions drawn are an outcome of

my research work. I further declare that to the best of my knowledge and belief the

report does not contain any part of any work which has been submitted for the award

of MBA degree or any other degree/diploma/certificate in this University or any other

University of India or abroad.

______________________ (Signature of the Candidate) Rahul Prakash Singh

Enrolment No: AM5671


CERTIFICATE

This is to certify that the work incorporated in the report “A Study On Investors’

Perception Towards Investment In Commodity Market with Special Reference To

Derivatives” a record of research work carried out by Rahul Prakash Singh bearing Roll

No: 5377613082 under my guidance and supervision for the partial fulfillment for the

award of MBA Degree of Chhattisgarh Swami Vivekanand Technical University, Bhilai

(C.G.), India.

To the best of my knowledge and belief the thesis

i) Embodies the work of the candidate him/herself,

ii) Has duly been completed,

iii) Is up to the desired standard both in respect of contents and language for

external viva.

_____________________

Mr. Rishi Kumar Tripathi

(Assistant Professor)


ACKNOWLEDGEMENT

The project has been made possible through the direct and indirect co-

operation of various persons, for whom I wish to express my appreciation and

gratitude.

First and foremost I express my profound gratitude to my project guide Mr.

Rishi Kumar Tripathi for assigning me an interesting and challenging project.

It is only because of his invaluable guidance and encouragement; I have dared

to venture this task.

I express my deep sense of gratitude towards Professor Saket Ranjan

Praveer, HOD of MBA Department, for consistence guidance and morale

encouragement helped me to complete the project successfully.

Atlast I offer my thanks to all those people and other whose efforts and

contribution had made this possible.

Rahul Prakash Singh

MBA II semester


TABLE OF CONTENTS

Page no.

Declaration by the Student 2

Certificate from the Supervisor 3

Acknowledgments 4

Chapter 1. Introduction to the study 6

Chapter 2. Literature Review 13

Chapter 3. Research Methodology 20

a. Objectives

b. Research Plan

c. Research design

d. Data Collection

Chapter 4. Data Tabulation, Analysis and Results 23

a. Factor Analysis

b. Regression

Chapter 5. Findings of the study 26

Chapter 6. Recommendations 28

Chapter 7. Limitations 30

Chapter 8. Conclusions 32

References 34

Questionnaire 35


CHAPTER-1

INTRODUCTION TO THE STUDY


ABSTRACT

One of the interesting developments in financial market over the last 15 to 20 years

has been the growing popularity of derivatives. In many situations, investors find it

more attractive to trade a derivative on an asset, commodity than to trade asset and

commodity itself. Some commodity derivatives are traded on exchanges.

In this study I have included history of commodity market. Than I have included

commodity market in India. And after that I have discussed the mechanism of trading

in commodity market in India.

In this study I have taken a first look at forward, futures and options contract and

other risk management instruments. Than after I have discuss the main components

of future commodity trading like contract size, what actual margin is and delivery

system etc. There are mainly three types of traders: hedgers, speculators and

arbitrageurs.

In the next I have tried to analyze the trading pattern and investment pattern of

commodity traders and other investors. This I have done through the help of

QUESTIONER, which contains 24 questions.

I have at the end given the research findings and conclusion. And on the basis of my

findings I have given suggestion and recommendation.


INTRODUCTION Instability of commodity prices has always been a major concern of the producers as

well as the consumers in an agriculture dominated country like India. Farmers’ direct

exposure to price fluctuations, for instance, makes it too risky for many farmers to

invest in otherwise profitable activities. There are various ways to cope with this

problem. Apart from increasing the stability of the market, various factors in the farm

sector can better manage their activities in an environment of unstable prices through

derivative markets. These markets serve a risk -shifting function, and can be used to

lock -in prices instead of relying on uncertain price developments. There are a

number of commodity-linked financial risk management instruments, which are used

to hedge prices through formal commodity exchanges, over -the-counter (OTC)

market and through intermediation by financial and specialized institutions who

extend risk management services These instruments are forward, futures and option

contracts, swaps and commodity linked -bonds. While formal exchanges facilitate

trade in standardized contracts like futures and options, other instruments like

forwards and swaps are tailor made contracts to suit to the requirement of buyers and

sellers and are available over-the counter. In general, these instruments are

classified based on the purpose for which they are primarily used for price hedging,

as part of a wider marketing strategy, or for price hedging in combination with other

financial deals. While forward contracts and OTC options are trade related

instruments, futures, exchange traded options and swaps between banks and

customers are primarily price hedging instruments.

Both forwards and futures contracts have specific utility to commodity producers,

merchandisers and consumers. Apart from being a vehicle for risk transfer among

hedgers and from hedgers to speculators, futures markets also play a major role in

price discovery.


A derivative as a term conjures up visions of complex numeric calculations,

speculative dealings and comes across as an instrument which is the prerogative of a

few ‘smart finance professionals’. In reality it is not so. In fact, a derivative transaction

helps to cover risk, which would arise on the trading of securities on which the

derivative is based and a small investor can benefit immensely. A derivative security

can be defined as a security whose value depends on the values of other underlying

variables. Very often, the variables underlying the derivative securities are the prices

of traded securities.

Trading In Options

If one buys an option contract he is buying the option, or "right" to trade a particular

underlying instrument at a stated price. An option that gives you the right to

eventually make a purchase at a predetermined price is called a "call" option. If you

buy that right it is called a long call; if you sell that right it is called a short call. An

option that gives you the right to eventually make a sale at a predetermined price is

called a "put" option. If you buy that right it is called a long put; if you sell that right it

is called a short put.

Trading in Call

Suppose a call option with an exercise/strike price equal to the price of the underlying

(100) is bought today for premium Re.1.Profit/ Loss for a Long Call.


International Journal of Computer Science and Management Research

Volume 1 Issue 5 December 2012 ISSN 2278-733X

At expiry, if the security’s price has fallen below the strike price, the option will be

allowed to expire worthless and the position has lost Re.1. This is the maximum

amount that you can lose because an option only involves the right to buy or sell, not

the obligation. In other words, if it is not in your interest to exercise the option you

don’t have to and so if you are an option buyer your maximum loss is the premium

you have paid for the right. If, on the other hand, the security’s price rises, the value

of the option will increase by Re.1 for every Re.1 increase in the security’s price

above the strike price (less the initial Re.1 cost of the option).

Note that if the price of the underlying increases by Re.1, the option purchaser breaks

even - breakeven is reached when the value of the option at expiry is equal to the

initial purchase price. For our call option, the breakeven price is 101. If the price of

the security is greater than 101, the call buyer makes money.

Profit/Loss for a short call.


Here profit is limited to the premium received for selling the right to buy at the

exercise price - again Re.1. For every Re.1 rise in the price of the underlying security

above the exercise price the option falls in value by Re.1. Here again, the breakeven

point is 101.

Trading in Put:

Consider that a put option with an exercise/strike price equal to the price of the

underlying (100) is bought today for premium Re.1.

Profit/Loss graph for a Long Put.

International Journal of Computer Science and Management Research Volume 1 Issue 5 December 2012

ISSN 2278-733X


At expiry the put is worth nothing if the security’s price is more than the strike price of

the option but, as with the long call, the option buyer’s loss is limited to the premium

paid. The breakeven for this option is 99, so the put purchaser makes money if the

underlying security is priced below 99 at expiry.

Profit/Loss graph for a short put.

Here profit is limited to the premium received for selling the right to sell at the strike

price. For every Re.1 falls in the price of the underlying security below the strike price

the option falls in value by Re.1. Here again, the breakeven point is 99.


CHAPTER-2

LITERATURE REVIEW


OVERVIEW OF COMMODITIES EXCHANGES IN INDIA

Forward Markets Commission (FMC) headquartered at Mumbai is a regulatory

authority, which is overseen by the Ministry of Consumer Affairs and Public

Distribution, Government of India. It is a statutory body set up in 1953 under the

Forward Contracts (Regulation) Act, 1952.

The functions of the Forward Markets Commission are as follows:

(a) To advise the Central Government in respect of the recognition or the withdrawal

of recognition from any association or in respect of any other matter arising out of the

administration of the Forward Contracts (Regulation) Act 1952.

(b) To keep forward markets under observation and to take such action in relation to

them, as it may consider necessary, in exercise of the powers assigned to it by or

under the Act.

(c) To collect and whenever the Commission thinks it necessary, to publish

information regarding the trading conditions in respect of goods to which any of the

provisions of the act is made applicable, including information regarding supply,

demand and prices, and to submit to the Central Government, periodical reports on

the working of forward markets relating to such goods;

(d) To make recommendations generally with a view to improving the organization

and working of forward markets;

(e) To undertake the inspection of the accounts and other documents of any

recognized association or registered association or any member of such association

whenever it considerers it necessary.


DEFINITION OF DERIVATIVES

Derivatives may be defined as “A security or contract designed in such a way that its

price is derived from the price of an underlying asset”. The price of the derivative

security is not arbitrary. It is linked to the price of underlying asset. Changes in the

price of underlying asset affect the price of derivative security. A true derivative

instrument requires no movement of principal funds. It is this characteristic that

makes them such useful tool to hedge and to take risk. Another definition explains

derivatives, as “Derivatives are financial instruments whose returns are derived from

those of other financial instruments” Their performance depends on how other

instruments perform.

Derivatives have fundamentally changed financial management by providing new tool

to manage risk. What makes derivatives important is not so much the size of the

activity, as the role it plays in fostering new ways to understand, measure and

manages risk. Through derivatives the complex risks that are bound together in

traditional instruments can be teased apart and managed independently and often

more efficiently. A remarkable growth in the derivatives markets has caused many

consequences on the players associated with them. Some got advantages out of it;

other became victims of the adverse results of investing in it.

Factors Affecting Growth of Derivatives:

Growths of derivatives are affected by a number of factors. Some of the important

factors are stated below.

1. Increased volatility in asset prices in financial markets

2. Increased integration of national financial markets with the international

markets

3. Marked improvement in communication facilities and sharp decline in their

costs

4. Development of more sophisticated risk management tools, providing

economic agents, a wider choice of risk management strategies


EVOLUTION OF DERIVATIVES

1) Forward Trading:

It is not clearly established when and where the first forward market came into

existence. There are reports that forward trade existed in India as far back as

2000BC and in Roman times. Forward trading is believed to have been in existence

in the 12th century English and French fairs. There was forward trade in rice in the

17th century in Japan. The first organized forward market came into existence in late

19th and early 20th century in Kolkatta (jute & jute goods) and in Mumbai (cotton).

2) Futures Trading:

The Dojima rice market can be considered as the first future market in the sense of

an organized exchange. The first futures in the western hemisphere were developed

in United States in Chicago. First they were started as spot markets and gradually

evolved into futures trading. First stage was starting of agreements to buy grain in

future at a predetermined price with the intention of actual delivery. Gradually these

contracts became transferable and during American civil war, it became

commonplace to sell and resell agreements instead of taking delivery of physical

produce. Traders found that the agreements were easier to buy and sell. This is how

modern futures contracts came into being.

3) Options Trading

Options trading are of more recent origin. It is estimated that they existed in Greece

and Rome as early as 400 BC. Options trading in agriculture products and shares

came in US from the 1860s. The first options market was started by Chicago BOARD

OF trade (CBOT) in 1973. Standard maturities, standard strike prices, standard

delivery arrangements were evolved. The risk of default was removed by introducing

a clearinghouse and margin system. The introduction of traded options opened the

way for the evolution of more complex derivatives.


4) SWAP Trading

The first SWAP transaction took place between World Bank and IBM (International

business machine). They were currency Swaps. Interest rates swaps also

commenced in 1981.

5) Other Derivatives

Other derivatives like Forward Rate Agreements (FRAs), Range forwards, Collars

evolved in second half of 1980s.

TYPES OF DERIVATIVES

One way of classifying derivatives is as,

Commodity Derivatives

These deals with commodities like sugar, gold, wheat, pepper etc. thus, futures

or options on gold, sugar, pepper, jute etc are commodity derivatives.

Financial Derivatives

Futures or options or Swaps on currencies, gilt edged securities, stocks and shares,

stock market indices, cost of living indices etc are financial derivatives.

Another way of classifying Derivative is.


Futures

A futures contract is a contract to “buy or sell a standard amount of or predetermined

grades of certain commodity (i.e. commodity futures) or financial instruments or

currency (that is financial futures) on a predetermined future day at an agreed prize.”

Forwards

It is “an agreement between two parties to buy or sell a commodity or financial

instrument at a predetermined future date at a prize agreed when the contract is a

made”. The forward contracts are normally traded outside the exchanges. Forward

contracts are very useful in hedging and speculation.

Options

They are the second, most important group of derivative securities, first being futures.

It is “a contract between two parties where by one party acquires the right, but not the

obligation to buy or sell a particular commodity or financial instrument at a specified

date”.

Complex Derivatives

Using futures and options it is possible to build number of complex derivatives. It is

designed to suit the particular needs and circumstances of a client


FUNCTIONS OF DERIVATIVES

1. Risk Management: I t involves structuring of financial contracts to produce

gains or losses that counter balances the losses or gains arising from

movements in financial prices. Thus risks are reduced and profit is increased

of a financial enterprises.

2. Price Discovery: This represents the ability to achieve and disseminate price

information without price information investors; consumers and producers

cannot make decisions. Derivatives are well suited for providing price

information.

3. Transactional Efficiency: Transactional efficiency is the product of liquidity.

Inadequate liquidity results in high transaction costs. This increases

investment and causes accumulation of capital. Derivatives increases market

liquidity, as a result transactional costs are lowered, and the efficiency in doing

business is increased.

RISK OF DERIVATIVES

Any comment about derivative would be inadequate without a word of caution. There

are 4 inherent risks associated with derivatives. These risks should be clearly

understood before establishing position in derivatives market.

a. Credit Risk: The exposure to the possibility of loss resulting from a counter

party’s failure to meet its financial obligation.

b. Market Risk: Adverse movements in the price of financial asset or commodity.

c. Legal Risk: An action by a court or by a regulatory body that could invalidate

a financial contract.

d. Operations Risk: Inadequate Controls, Human error system failure of fraud.


CHAPTER-3

RESEARCH METHODOLOGY


A. OBJECTIVES OF THE STUDY

Primary Objective

To analyze the view of Investors towards Commodity Market.

To make understand the process of future commodity trading in India.

Secondary Objectives

To find out the type of risk which are considered by the investors?

To find out the ways through which the investors minimizes their risk

To find out the preferences of Investors in derivatives market

B. RESEARCH PLAN

RESEARCH PLAN

Research Design Descriptive

Research Method Used Survey

Research Technique Used Questionnaire

Sample Unit Investors from Bhilai

Sampling Plan Convenience

Sample Size 50

C. RESEARCH DESIGN

A Research design is purely and simply the framework of plan for a study that guides

the collection and analysis of data. The study is intended to find the investors

preference towards cash market and derivatives. The study design is descriptive in

nature.


TYPE OF RESEARCH

Descriptive Research

Descriptive study is a fact-finding investigation with adequate interpretation. It is the

simplest type of research and is more specific. Mainly designed to gather descriptive

information and provides information for formulating more sophisticated studies.

Sampling Design

1. Selection of study area: The study area is in Bhilai.

2. Selection of the sample size: 50

Sampling Methods

Convenience method of sampling is used to collect the data from the respondents.

Researchers or field workers have the freedom to choose whomever they find, thus

the name “convenience”. About 50 samples were collected from Bhilai.

D. FORMULATION OF THE QUESTIONNAIRE

Data collection

Primary data – collected through Structured Questionnaire.


CHAPTER-4

DATA TABULATION ANALYSIS AND RESULTS


A. Factor Analysis

Rotated Component Matrixa

Component

1 2 3 4 5 6

Y1 .853 .256 -.287 .066 .011 -.220

Y2 .866 -.108 -.254 .145 .204 -.025

Y3 .907 .278 .000 -.014 -.037 .145

X11 .045 .906 -.180 .136 .043 .270

X12 -.348 .819 -.030 .181 .421 .149

X13 -.811 .858 .110 -.184 .253 .163

X14 -.368 .559 .062 .041 .575 -.445

X15 -.334 .688 -.382 .351 -.055 .270

X21 .398 -.063 .741 .248 .325 -.117

X22 .508 -.553 .888 .428 .127 -.145

X23 .608 -.615 .763 .378 -.052 -.074

X24 -.811 .281 -.091 .306 -.032 -.043

X31 .270 -.001 .270 -.581 -.121 .696

X32 .080 -.360 .065 -.446 -.031 .925

X33 .362 -.021 .452 -.528 -.083 .692

X34 .045 -.224 -.314 -.354 .804 -.037

X41 .175 .378 -.551 .761 -.090 .156

X42 .379 -.055 -.368 .786 -.064 -.122

X43 .006 .043 -.695 .689 -.148 -.045

X44 -.348 .325 .352 .539 .282 .563

X51 .431 .103 .283

.730 -.254

X52 .478 .338 .609 .319 .911 .373

X53 .345 .539 .201 -.269 .574 -.136

X54 -.073 -.918 .142 -.258 -.077 .083

Extraction Method: Principal Component Analysis. Rotation Method: Varimax with Kaiser Normalization.

a. Rotation converged in 7 iterations.

INTERPRETATION

1. X24(Overall increase in wealth) is not reliable because its value is -.091 which

is less than 0.5.

2. Similarly X34 (Low potential loss) is also not reliable because the value is -

0.34.

3. X54 (Advice of Peers) is also not reliable.


B. Regression

Variables Entered/Removeda

Model Variables Entered

Variables Removed Method

1 X5, X3, X4, X2, X1

b

Enter

a. Dependent Variable: Y1

b. All requested variables entered.

Model Summary

Model R R

Square

Adjusted R

Square

Std. Error of

the Estimate

1 .871a .758 .516 1.209

a. Predictors: (Constant), X51, X31, X41, X21, X11

Coefficients

Model Unstandardized

Coefficients

Standardized

Coefficients

t Sig. 95.0% Confidence Interval

for B

B Std. Error Beta Lower Bound Upper Bound

1

(Constant) .707 1.559 .453 .669 .302 4.715

X11 .483 .576 .498 .838 .440 .0997 1.963

X21 .338 .314 .373 .079 .330 1.144 .468

X31 .230 .212 .303 .081 .329 .316 .776

X41 .119 .627 .106 .189 .857 1.492 1.729

X51 .561 .360 .442 .559 .180 .364 1.486

a. Dependent Variable: Y1

Interpretation:

All the factor X1 Return X2 Risk X3 Outcome X4 Social Influence X5Influence of

Financial advisers have the significant value less than 0.05 so they all have

significant impact on the invest in commodity market.


CHAPTER-5

FINDINGS OF THE STUDY


FINDINGS

1. Most of the respondents are of the age group 31-40.

2. Majority of the respondents are male.

3. Most of the respondents are graduates followed by Post graduates.

4. Most of the respondents are entrepreneurs and Working Executives.

5. Most of the respondents are having an Income level of 1- 5alcs followed by

respondents having income level 5-10 lacks.

6. Most of the respondents are influenced by friends and relatives followed by

brokers.

7. Most of them are highly favorable towards the cash market.

8. Most of them are highly favorable towards the Futures market.

9. Most of them are favorable towards the Options market.

10. Most of them stayed neutral towards the Commodities market.


CHAPTER-6

SUGGESTIONS & RECOMMENDATIONS


SUGGESTIONS & RECOMMENDATIONS

1) From the demographic factors it is found most of the investors are of age 31-40

and are mostly entrepreneurs & working executives, so the institutions dealing in

Commodity market can take these factors and develop suitable marketing activities

for them and attract them to invest more in Commodity markets.

2) Also it is found that the friends and relatives followed by brokers are the most

influential persons to pull the investors into the Commodity market. So the Institutions

should develop some referral programs and rewards for referrals, so that the existing

investors can actively bring in more number of investors. Also brokers should be duly

acknowledged.

3) Most of the respondents should positive sign in investing into Derivatives market,

since most of them preferred short term investments and instruments leading to

wealth maximization. So the Institutions dealing in Derivative market must develop

products which suit the above said requirements of the investor.

4) Most of them felt that they want to reduce their market risk and they also said that

they follow the ideas given by the financial experts and tips given in the newspaper to

reduce their risk. So the institutions should keep informed about their institutions

developments to these groups by which it can reach the investors in a positive way.

5) Investors felt that high margin in Commodity Market segment was the main barrier

for investing, so the Institutions should work on this to reduce the margin.


CHAPTER-7

LIMITATIONS OF THE STUDY


LIMITATIONS OF THE STUDY

Understanding the nature of the risk is not adequate unless the investor or

analyst is capable of expressing it in some quantitative terms. Expressing the

risk of a stock in quantitative terms makes it comparable with other stocks.

Measurement cannot be assured of cent percent accuracy because risk is

caused by numerous factors such as social, political, economic and

managerial efficiency.

Time was a limiting factor.

Only those investors who deal in Commodity markets are considered.


CHAPTER-8

CONCLUSION


CONCLUSION

In the current scenario, investing in Commodity markets is a major challenge ever for

professionals. Derivatives acts as a major tool for reducing the risk involved in

investing in Commodity markets for getting the best results out of it. The investors

should be aware of the various hedging and speculation strategies, which can be

used for reducing their risk. Awareness about the various factors of Commodity

Market can help investors to reduce risk and increase profits. Though the Commodity

market is subjected to high risk, by using derivatives the loss can be minimized to an

extent


References:

1. Marketing Research by G C Beri- third edition – © 2000, Tata McGraw-Hill

Publishing Company Ltd.

2. Marketing Research by Rajendra Nargundkar- 2nd edition 2006, Tata

McGraw-Hill Publishing Company Ltd

3. www.indiabulls.com

4. www.nseindia.com

5. www.stockedge.com


QUESTIONNAIR USED

I am a student of Faculty of Management Studies, Shri Shankaracharya Group of Institutions, Bhilai.

As a part of my curriculum I am conducting a research on Investor’s Perception towards invest in

Commodity Market. I would be grateful to you for providing candid responses.

1. The following questions are about your decision to invest in a Commodity Market

Please choose the most appropriate option Strongly

Disagree <Neutral>

Strongly

Agree

1-1 I want to invest in a Commodity Market rather than Stock Market 1 2 3 4 5 6 7

1-2 My intentions are to invest in a Commodity Market rather than in Share

Market 1 2 3 4 5 6 7

1-3 If I could, I would like to invest in Commodity Market 1 2 3 4 5 6 7

2. The following questions are about the returns you perceive in investing in a Commodity Market


Disagree <Neutral>

Strongly

Agree

2-1 Investment in Commodity Market will be beneficial to me 1 2 3 4 5 6 7

2-2 By investing in Commodity Market I can earn more money than by investing in

Share Market 1 2 3 4 5 6 7

2-3 Investment in Commodity Market will give me higher returns 1 2 3 4 5 6 7

2-4 Investment in Commodity Market will increase my overall wealth 1 2 3 4 5 6 7

2-5 Investment in Commodity Market will be of good value 1 2 3 4 5 6 7


3. The following questions are about the risk you perceive in investing in a Commodity Market


Disagree <Neutral>

Strongly

Agree

3-1 It is risky to invest in a Commodity Market 1 2 3 4 5 6 7

3-2 I may lose substantial amount of money by Investing in a Commodity Market 1 2 3 4 5 6 7

3-3 My savings would be in danger if I invest them in a Commodity Market 1 2 3 4 5 6 7

3-4 The potential for loses are low in Commodity Market 1 2 3 4 5 6 7

4. The following questions are about the outcomes you perceive in investing in Commodity Market


Disagree <Neutral>

Strongly

Agree

4-1 By investing in a Commodity Market, I will become wealthy 1 2 3 4 5 6 7

4-2 By investing in a Commodity Market, I can manage my future well 1 2 3 4 5 6 7

4-3 By investing in Commodity Market, I can afford things meant for rich people 1 2 3 4 5 6 7

4-4 By investing in Commodity Market Instrument, I will lose my wealth 1 2 3 4 5 6 7

5. The following questions are about the influence of your friends and family members on your decision to invest in Commodity Market


Disagree <Neutral>

Strongly

Agree

5-1 My parents influence my decision to invest in Commodity Market 1 2 3 4 5 6 7

5-2 I prefer the advice of my friends on investing in Commodity Market 1 2 3 4 5 6 7

5-3 Most people who influence my decision think that I should invest in

Commodity Market 1 2 3 4 5 6 7

5-4 My peers advise me to invest in a Commodity Market 1 2 3 4 5 6 7


6. The following questions are about the influence of your financial advisor on your decision to invest in Commodity Market Instrument


Disagree <Neutral>

Strongly

Agree

6-1 For investment decisions, I consult financial planners (e.g., CA) 1 2 3 4 5 6 7

6-2 Financial Planners influence my decision to invest in Commodity Market 1 2 3 4 5 6 7

6-3 Financial Planners play a significant role in my decision to invest in Commodity

Market 1 2 3 4 5 6 7

6-4 I prefer the advice of financial planners to invest in Commodity Market 1 2 3 4 5 6 7

7. Please provide the following details which would help in supporting our research. The information will be kept strictly confidential and for the purpose of analysis only. Please tick the appropriate option.

7-1 Name

7-2 Age <20 20-29 30-39 ≥40

7-3 Gender Male Female

7-4 Annual Income <1 Lakh 1-2.99 Lakhs 3-4.99 Lakhs ≥5 Lakhs

Finance research report

Economy & Finance

rahul prakash singh

thesis i

research report

record of research work

university of india

rishi kumar tripathi

commodity market

investors perception