Potential of individuals (Russians) to invest in the Russian stock market

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The purpose of the research. The article presents three theses: 1) the share of private investors has significantly increased, making up 79% of the trading volume in 2023, which is 35% more than in 2019; 2) stock market volatility depends on such aspects as: firstly, private investors are more sensitive to the information background than investment funds and professional managers, they are more inclined to speculation, and on the other hand, the share of individuals who do not currently have investments in the Russian stock market, but are potentially ready to invest in any instruments, has not been sufficiently studied in terms of future behavior; 3) there is a need to build forecasts for the development of the stock market from the point of view of the behavior of current and potential investors. In order to analyze the behavior of potential investors, the research team of the Financial University conducted a mass questionnaire survey of Russians. The scientific novelty of the study is the expansion of the empirical framework of research on the topic of potential investment behavior of individuals with subsequent scientific conclusions. Results. The authors identified a number of characteristics of potential investors, presented through two groups: 1) those “planning” to invest in shares over a 3-year horizon – 26% of non-shareholders (66% of men, 34% of women); 2) those “indecisive”, who have an account with a Russian broker, but for one reason or another do not invest in shares (hereinafter referred to as “indecisive”) – 22% of non-shareholders (76% of men, 24% of women). The main factors limiting the entry of individuals into the investment world are knowledge of the financial sector, the competitiveness of bank deposits, and the high risk of investment activities. The most promising sector of the economy, according to potential investors, is industry.

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作者简介

Alexander Tyurikov

Financial University under the Government of the Russian Federation

编辑信件的主要联系方式.
Email: agtyurikov@fa.ru
ORCID iD: 0000-0001-8388-9543

Dr. Sci. (Sociol.), Professor, Head, Department of Sociology, Faculty of Social Sciences and Mass Communications, chief researcher, Institute of Humanitarian Technologies and Social Engineering

俄罗斯联邦, Moscow

Natalia Voevodina

Financial University under the Government of the Russian Federation

Email: consult@fa.ru

Director, Center for Banking Consulting and Applied Research

俄罗斯联邦, Moscow

Diana Kunizheva

Financial University under the Government of the Russian Federation

Email: dakunizheva@fa.ru
ORCID iD: 0000-0002-4480-7231
SPIN 代码: 8084-3232

Cand. Sci. (Sociol.), associate professor, Department of Sociology, Faculty of Social Sciences and Mass Communications

俄罗斯联邦, Moscow

参考

  1. Alikperova N.V. Investment strategies of young people: searching for opportunities in solving socio-economic problems. Economy. Taxes. Law. 2022. Vol. 15. No. 4. Pp. 116–123. (In Rus.). doi: 10.26794/1999-849X-2022-15-4-116-123. EDN: NSVQPD.
  2. Elbieva L.R., Akhmedova R.L., Dubaeva M.L. The influence of the Bank of Russia policy on investment behavior. Trends in the Development of Science and Education. 2024. No. 110-7. Pp. 183–186. (In Rus.). doi: 10.18411/trnio-06-2024-376. EDN: HQRUNY.
  3. Lepeshkina S.V. The impact of the lack of economic opportunities on the investment behavior of households. Economic Development of the Region: Management, Innovation, Personnel Training. 2023. No. 10. Pp. 20–26. (In Rus.). EDN: IDWSGC.
  4. Alikperova N.V. Monetary attitudes of young people in the context of socio-economic instability. Standard of Living of the Population of Russian Regions. 2021. Vol. 17. No. 3. Pp. 372–381. (In Rus.). doi: 10.19181/lsprr.2021.17.3.7.
  5. Razov P.V., Alikperova N.V. Factors influencing the investment behavior of the population. In: Saving the population of Russia: Health, employment, standard and quality of life. Proceedings of the international scientific and practical conference, Moscow, March 29, 2022. V.V. Lokosov, V.G. Dobrokhleb, M.V. Belikova (eds.). Moscow: Federal Research Sociological Center of the Russian Academy of Sciences, 2022. Pp. 372–377. doi: 10.19181/konf.978-5-89697-399-7.2022.76.
  6. Kahneman D., Tversky A. Prospect theory: Analysis of decision making under risk. Economics and Mathematical Methods. 2015. Vol. 51. No. 1. Pp. 3–25. EDN: TNIUGN.

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2. Fig. 1. Motives of “planners” for starting investment activities in the future

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3. Fig. 2. Sources of basic knowledge in the field of investment behavior of “planners”

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4. Fig. 3. Maximum share of personal income that can be invested in shares by “planners”

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5. Fig. 4. Obstacles to investing in stocks for “planners” and “indecisives”

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6. Fig. 5. Maximum price of 1 share, which is considered comfortable for “planners”

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7. Fig. 6. Preferred type of income for “planners”

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8. Fig. 7. Factors that deter investment in the stock market for “planners” and “indecisives”

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9. Fig. 8. Promising sectors in the economy, according to the estimates of “planners” and “indecisives”

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