A STUDY OF AWARENESS AND INFLUENCE OF DEMOGRAPHIC FACTORS ON RISK TOLERANCE OF LAW PROFESSIONALS

Level of risk an investor is able to undertake is financial tolerance. Some individuals have ability to take high risk are risk takers and those investors which accept low risk are risk averse. Literature is available which suggested that investor's ability to tolerate risk is influenced by many factors like personality, age, gender, education, occupation, income etc. There are many studies performed on impact of demographic factors on risk tolerance. Some authors have suggested that age has positive impact on risk tolerance while some authors suggested that gender has influence on risk tolerance. The present research paper explores the association of age, occupation, gender, marital status and education with risk tolerance of law professionals. Data has been collected from 814 respondents. Chi square method was used to determine the association among various demographic variable and risk tolerance. Present study shows there is no association of gender, age, education, income of respondents with their risk tolerance.