Socio-Cultural Determinants of the Gender Investment Gap: Why Women Prioritize "Safe" Assets over Market-Linked Instruments

Karishma Kumari

doi:10.70528/IJLRP.v7.i4.2195

Socio-Cultural Determinants of the Gender Investment Gap: Why Women Prioritize "Safe" Assets over Market-Linked Instruments

Author(s)	Karishma Kumari
Country	India
Abstract	Despite significant progress in financial inclusion, women’s participation in market-linked investment instruments remains disproportionately lower than that of men. In India, expanded banking access and digital financial infrastructure have improved women’s formal inclusion; however, participation in equities, mutual funds, and other growth-oriented financial instruments remains limited. Conventional explanations often attribute this disparity to greater risk aversion or lower financial literacy, but such interpretations provide only a partial understanding of a broader structural phenomenon. This study examines the socio-cultural determinants underlying the gender investment gap, with particular focus on women’s preference for traditional lower-risk financial assets such as fixed deposits, gold, insurance products, and government-backed savings schemes. The study adopts a descriptive analytical research design based exclusively on secondary data from official institutional reports and peer-reviewed literature, informed by behavioral economics, feminist economics, social role theory, and financial socialization theory. Evidence from the World Bank Global Findex Database (2021), Reserve Bank of India Annual Report (2023–24), SEBI Investor Survey (2025), OECD financial literacy studies, National Family Health Survey-5 (2019–21), and AMFI investor data suggests that increased financial access does not necessarily translate into autonomous investment participation. The findings indicate that women’s investment behavior is shaped by gendered financial socialization, household decision-making constraints, institutional trust deficits, confidence gaps, and unpaid caregiving responsibilities. The study argues that the gender investment gap should be understood not merely as an outcome of individual risk preferences, but as a structurally embedded economic inequality affecting long-term wealth accumulation, retirement preparedness, and women’s financial autonomy. The paper recommends gender-responsive policy interventions focused on strengthening financial agency, investor confidence, institutional accessibility, and equitable participation in wealth-building ecosystems.
Keywords	Gender investment gap, women investors, financial inclusion, behavioral finance, socio-cultural determinants, financial autonomy, India
Published In	Volume 7, Issue 4, April 2026
Published On	2026-04-10
DOI	https://doi.org/10.70528/IJLRP.v7.i4.2195
Short DOI	https://doi.org/hb378k

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Socio-Cultural Determinants of the Gender Investment Gap: Why Women Prioritize "Safe" Assets over Market-Linked Instruments

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