Quantifying Risk in Investment Decision-Making

Round 1

Reviewer 1 Report

Reconsider after major revision.

Comments for author File: Comments.pdf

Author Response

Dear Reviewer;

We express our thanks for your invaluable suggestions. We have incorporated all your suggestions and highlighted the changes in the manuscript. We also offered a point-by-point explanation of how we addressed the concerns. 

Your suggestions helped us in improving the quality of the manuscript.

See the attachment for the responses to your comments.

Author Response File: Author Response.pdf

Reviewer 2 Report

The authors address the issue of substantiating the investment decision under risk conditions. The work is well structured.

The authors may consider the following suggestions:

In summary: Emphasize more clearly the practical and theoretical implications of the results, including how they can be applied to investment practice and how they contribute to the development of existing knowledge in the field.

In the keywords: include a word that refers to the applied research method

In section 4.1: Detail the selection method of the sample ("various investors", does not provide information about how they were selected, or if it is a sufficient number compared to the total number of investors in the region).

The bibliography seems incomplete (possible a technical editing error, as there are many more references in the text).

Author Response

We express our thanks for your invaluable suggestions. We have incorporated all your suggestions and highlighted the changes in the manuscript. We also offered a point-by-point explanation of how we addressed the concerns. 

Your suggestions helped us in improving the quality of the manuscript.

See the attachment for the responses to your comments.

Author Response File: Author Response.docx

Reviewer 3 Report

The paper, titled 'Quantifying Risk in Investment Decision Making,' investigates the connection between risk factors and investor behavior in India. Drawing from the theory of planned behavior, the research constructs a conceptual model and gathers data from 537 participants in southern India. Partial Least Squares Structural Equation Modeling (PLS-SEM) is employed for analysis. The findings reveal a positive influence of risk factors (risk capacity, risk tolerance, risk propensity) on investment priority and strategy. Furthermore, investment priority positively affects investment decision making, while conscientiousness acts as a moderating variable in the relationship between investment priority and decision making. This research contributes to the field of behavioral finance by examining risk factors and their impact on investment decisions within a developing country context.

The study lacks a comprehensive literature review, which could have established a stronger foundation for the research by providing context and identifying gaps in existing knowledge.

Additionally, the paper does not provide details about the questionnaires used in the study. It would be beneficial to include the questionnaires in an appendix or provide more information about their development and validation.

The overall quality of English language in the document is good. The sentences are well-structured and grammatically sound. However, there are a few instances of word choice and phrasing that could be improved for clarity and precision.

Author Response

We express our thanks for your invaluable suggestions. We have incorporated all your suggestions and highlighted the changes in the manuscript. We also offered a point-by-point explanation of how we addressed the concerns. 

Your suggestions helped us in improving the quality of the manuscript.

See the attachment for the responses to your comments.

Author Response File: Author Response.docx

Round 2

Reviewer 1 Report

Congratulations on the way the article has been revised. I agree with its publication in this form.