author(s)
Jyotirmoy Koley

abstract
This study investigates the influence of behavioural finance on investment decisions of individual investors in Darjeeling, India. Data were collected from 35 individual investors using a structured questionnaire survey, with participants selected using judgment and convenience sampling techniques. The study employed both descriptive and inferential statistical methods, including a one-way analysis of variance (ANOVA). The findings indicate significant relationships between gender, annual income level, and personality types with the selection of investment avenues. However, no significant difference was observed between the education level and investment choices. The majority of respondents were male (65.7%), aged 31-40 years (34.3%), had a higher secondary education (74.3%), and had an annual income between Rs. 100,001-200,000 (40%). Respondents exhibited diverse personality types, with individualistic (34.3%) and celebrity (31.4%) personality types being the most prevalent. Equity (34.3%), debentures (31.4%), and bonds (25.7%) emerged as preferred investment avenues. This study underscores the importance of considering behavioral and psychological factors alongside traditional financial metrics when analyzing investment behaviors in Darjeeling. Understanding these influences can assist investors in making more informed decisions and enable financial advisors to offer tailored guidance aligned with individual investor profiles. The findings contribute to the growing body of research on behavioral finance in India, addressing a gap in understanding these dynamics, specifically in Darjeeling.