There is need to increase understanding of the positive aspects of individual investor behavior due to the large numbers involved, the institutionalization of the stock markets, and the failure of normative valuation models. This study is a preliminary regional investigation and comparison of...

This study examines stated return preferences of individual investors. First, evidence suggests investors sort themselves into groups by return preferences. Identifiable, systematic, and statistically significant differences exist across investor groups.There appear to be at least two investor...