Risk tolerance dependant on what? demographics or personality type: findings from an empirical Research

An investor's decision regarding investment is influenced by a number of factors. Many researchers have concluded that risk tolerance level of investors plays a vital role in making investment decision. It is therefore importance to measure the risk tolerance level of investors. Many studies have concluded that risk taking capabilities of an individual is based on his basic demographic characteristics such as age, gender, marital status, income level, education, family background and occupation etc. Yet no major systematic effort has been made to ascertain the impact of personality trait of an individual on his risk taking behavior. In the proposed study an attempt has been made to ascertain the relationship of (a) demographic variables (b) personality trait on risk taking behavior of investors, and concludes that females are more risk averse than men, Single/unmarried investors take higher risk than married, Investors among 25–45 age have lowest risk tolerance capability and Personality type A people, being aggressive and impatient, takes high risk as compare to type B.