EMPERORINTERNATIONALJOURNALOF

FINANCEANDMANAGEMENTRESEARCH
[EIJFMR]

ISSN: 2395-5929

Volume-IV Regular Issue - III March-2018

UGC Approval Jr. No. 45308

SJIF 2016:3.343 | SJIF 2017: 4.253 | ISI 2017-2018: 0.673 | IFS - 2018: 1.14

Chief- In – Editor
Dr. C. THIRUCHELVAM
Former Register
Bharathidasan University
Tiruchirapalli – 620 024

Advisory Board
Dr.S.GURUSAMY
Professor and Head
Chairperson - School of Business and Management
Dean – Academic, University of Madras, Chennai - 600 005

Editor
Dr. R. MAYAKKANNAN
Assistant Professor in Commerce
Sri Sankara Arts & Science College (Autonomous)
Enathur, Tamil Nadu – 631561

Published by
Mayas Publication®
Tamilnadu | Kerala | Karnataka | New Delhi
www.eijfmr.com
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 Editorial Board Members
Managing Editor
Dr. R. MAYAKKANNAN
M.Com., M.Phil.,MBA.,MFC., MA(Eco).,PGDFM .,PGDCA., Ph.D.
Mayas Publication®
www.eijfmr.com
Ph.No.: 9944387367
e-mail : maya1984kannan@gmail.com| customersupport@eijfmr.com
Chief-In-Editor
Dr. C. THIRUCHELVAM
Former Register
Bharathidasan University
Tiruchirapalli – 620 024
Advisory Board
Dr.S.GURUSAMY
Professor and Head
Department of Commerce
Chairperson - School of Business & Management
Dean - Academic University of Madras.
e-mail : professorsg@yahoo.com
SCHOOL OF COMMERCE, MANAGEMENT, ECONOMICS
Dr.Balakrishnan Dr. R. Periyasamy
Department of International Business, Head & Assistant Professor,
Administration, Department of Commerce,
Nizwa College of Applied Science, Barathiyar University Constitutional College,
Sultanate of Oman. Coimbatore, Tamilnadu, India.
subramanyayp@lycos.com nsebpge2017@gmail.com
Dr.PratapsinhChauhan Dr.T.J.Arun
Vice Chancellor, Associate Professor of Commerce,
Saurashtra University, Rajkot, Annamalai University,
Gujarat. India. Chidambaram,
drpratapsinhchauhan@yahoo.co.in Tamilnadu,India.

Dr.KuppusamySingaravelloo Dr.A.Ravikumar
Department of Administrative Studies and Politics, Associate Professor of Commerce,
Faculty of Economics and Administration, Bishop Heber College (Autonomous),
University of Malaya, Malaysia. Puttur, Trichy-17.
kuppusamy_s@um.edu.my ravikumarbhc@gmail.com
Dr. BharatiPathak Dr.N.Bharathidhasan
Professor, School of Commerce, Assistant Professor in Commerce,
Gujarat University, Dr.AmbedkarGoverment Arts College
Ahmadabad, India. (Autonomous),Vyasarpadi,Chennai, Tamilnadu.
bharativpathak@rediffmail.com nbd2001@gmail.com
Dr.P. Mohan Reddy Dr.Leela
Professor of Commerce, Professor of Commerce,
Management and Information Sciences, T.S.Narayanaswami College,
Sri Venkateswara University, Chennai,
Thirupati, Andhra Pradesh, India. Tamilnadu , India.
dr_mohanreddy@yahoo.com yen.leela@gmail.com
Dr.MeenuMeheshwari Dr .K.Krishnamurthy
Assistant Professor, Assistant Professor of Commerce,
Department of Commerce and Management, Periyar Government Arts College,
University of Kota, Kota. Cuddalore.
drmeenumaheshwari@gmail.com drkkrishnamurthy@gmail.com
Dr. G. Raju Dr. C. Saraswathy
Professor of Commerce, Assistant Professor of Commerce,
School of Management Studies, VELS University,
University of Kerala Chennai,Tamilnadu.
Thiruvanathapuram, Kerala, India. India.
rajmukal@yahoo.co.uk saraschand1@gmail.com
Dr.Vijaya Dr. R. Mathavan
Professor of Commerce, Assistant Professor of Commerce,
Gulbarga University, KandaswamiKandar’s College,
Gulbarga, Karnataka state P.Velur, Namakkal (DT)
India. Tamilnadu. India.
drbvijaya@yahoo.com r.mathugk@gmail.com
Dr.F.Elayaraja Dr. S.Prabhu
HOD of Commerce TKU Arts College Head & Assistant Professor of Commerce
Karanthai,Thanjavur, Bharthi College of Arts and Science,Thanjavur,
Tamilnadu Tamilnadu
Dr. R. Hariharan Dr.A.Vijaykanth
Associate Professor of Commerce, Assistant Professor of Economics,
National College, Dr.Ambedkar Government Arts College
Trichy, (Autonomous), Vyasarpadi, Chennai, India.
Tamilnadu vijayakanth_us@yahoo.com
Dr. L.Gomathy Dr. V. Rengarajan
Assistant Professor of Commerce, Assistant Professor, Management Studies
AgurchandManmull Jain College, SASTRA University,
Meenambakkam, Chennai. Thanjavur, Tamilnadu, India.
gomathypugal@gmail.com vrr1971@gmail.com
Dr.S.Raju Dr.K.V.Ramanathan,
Assistant Professor of Commerce, Professor of Finance,
A.V.V.M Sri Pushpam College (Autonomous) , Statistician and Research Adviser,
Poondi, Thanjavur.India. Bangalore.
dr.rajuss@gmail.com kvr08@rediffmail.com
Dr.V.Dheenadhayalan Dr.P.Arunachalam
Assistant Professor in Commerce, Professor &Head , Department of applied
Annamalai University, Economics
Chidambaram, Cochin University,
Tamilnadu, India. Kerala.
deena_mint@yahoo.com arunachalam14@yahoo.co.uk
Dr.BamaSampath Dr.S.R.Keshava
Assistant Professor of Commerce Professor of Economics
Dr.Ambedkar Govt. Arts College Bangalore University,
Chennai, Tamilnadu, India. Bangalore.
sbgs92@yahoo.in sr_keshava@yahoo.com
Dr. R. Vasudevan Dr.S.Chinnammai
Assistant Professor in Corporate Secretary Ship, Associate Professor of Economics,
D. G. Vaishnav College, University of Madras,
Chennai. Chennai.
rvasu66@yahoo.com pragathauom@gmail.com
Dr.A.L.Mallika Dr.A.Ranga Reddy
Associate Professor and Head, Professor Emeritus,
Department of Management Studies, Sri Venkateshwara University
Mother Teresa Women’s University, Kodaikanal. Andhra Pradesh
mvmallika21@gmail.com India.
Dr. P. Uma Meheshwari Dr. V.VijayDurgaPrasad
Assistant Professor of Economics Professor & Head
Barathiyar University College, Department of Management Studies
Coimbatore, PSCMR College of Engineering and Technology
Tamilnadu, India. Kothapet, Vijayawada , Andhra Pradesh, India.
umasreekrishnaram@gmail.com vijaydurgaprasad@gmail.com
Dr.DhanalakshmiAcharya Dr.A.Alagumalai
Bangalore Business School, Associate Professor
Andhrhalli Main Road, Bangalore Department of Political Science,
Karanataka, India. P.T.M.T.M.College,
dhanalakshmi2311@gmail.com Kamudhi,
Ch. Anjaneyulu Dr.G.Parimalarani
Assistant Professor, Department of Business Chairman,
Management Board of Studies in Commerce
Telangana University Department of Commerce, Telangana University
DichpallyNizamabad, Telangana India. Dichpally, Nizamabad, Telangana, India.
anzu686@gmail.com ramcommerce@rediffmail.com
Dr .Ishwara P Ms.Bhagyshreehiremath
Professor in Commerce Assistant Professor of Economics
Department of Commerce, Indian Institute of Information Technology
Mangalore University Karnataka. Dharwad.
ishwara_p@rediffmail.com bhagyashreehiremath176@gmail.com
Dr.G.Parimalarani Prof.M.Yadagiri
Associate Professor Head & Dean
Department of Bank Management Faculty of Commerce
Alagappa University Telangana University
Karaikudi, Tamilnadu. DichpallyNizamabad, Telangana.
vini_parimal@yahoo.com prof.yadagirimadarapu@gmail.com
Dr.M.Prathapan Dr.M.Murugadass
Assistant Professor in Commerce Assistant Professor of Commerce,
St. Ann’s College of Arts & Science, Annai Theresa College of Arts & Science
Tindivanam-604 001, TamilNadu. Thirukazhukundram- Kanchipuram
SCHOOL OF COMPUTER SCIENCE, ENGINEERING AND TECHNOLOGY
Prof. Naveen Kumar Dr. ArdhenduMandal
Associate Professor Assistant Professor
Department of Computer Science, School of Computer Science and Application
University of Delhi, India. University of North Bengal (N.B.U).
nk.cs.du@gmail.com am.csa.nbu@gmail.com
Dr. Rakesh Kumar Dr Jose Luis Lopez-Bonilla
Mandal Secretary, CSI, Siliguri Superior School of Mechanical and Electrical
Chapter Assistant Professor Engineering,
School of Computer Science & Application National Polytechnic Institute,
North Bengal University P.O.,Darjeeling West Bengal. Mexico city.
rakeshkumardoctor@yahoo.in joseluis.lopezbonilla@gmail.com , jlopezb@ipn.mx

Dr. D. Roy Chowdhury D. Hiremath

Assistant Professor Assistant Professor
School of Computer Science & Application Department of Computer Science and Engineering
University of North Bengal. Indian Institute of Information Technology
diliproychowdhury@gmail.com Dharawd.
Dr. Ms. Bhagyashree, Dr.M.Mohamed
Assistant Professor Associate Professor of Commerce,
Department of Computer Science and Engineering KhadirMohideen College,
Indian Institute of Information Technology Dharawd. Adirampattinam, Tamilnadu.
SCHOOL OF AGRICULTURAL & RURAL DEVELOPMENT AND EDUCATIONAL
TECHNOLOGY, ENVIRONMENTAL SCIENCE
Dr.V.M.Indumathi Dr. K. Boomiraj
Dept. of Agricultural and Rural Management Assistant Professor
Tamil Nadu Agricultural University, Department of Environmental Sciences,
Coimbatore, India. Tamil Nadu Agricultural University, Coimbatore.
induarm@tnau.ac.in kb78@tnau.ac.in
Dr. M.Mirunalini R.Ganesan
Assistant Professor Professor and Head,
Department of Educational Technology Department of English,
BharathidasanUniversity,Khajamalai Campus, Kongu Engineering College,
Thiruchirappalli. Perundurai.
miru.bdu@gmail.com ganesankec@gmail.com
Dr.S.Angles Prof. V.Murugaiyan
Assistant Professor Assistant Professor
Department of Agricultural Economics, Post Graduate & Research,
Tamil Nadu Agricultural University, Coimbatore, Tamil Department of History
Nadu, India. H.H.Rajah’s College,
angles.s@tnau.ac.in Pudukottai. Perundurai
SCHOOL OF MATHEMATICS, PHYSIC, EARTH SCIENCE, BOTANY,
CHEMISTRY, MOLECULAR BIOLOGY, ZOOLOGY
Dr. P.K. Omana Dr. DhirajSaha,
Scientist Assistant Professor (Senior Scale),
Ministry of Earth System Science, Insect Biochemistry and Molecular Biology
Government of India, Laboratory,
National Centre for Earth Science Studies, Department of Zoology, University of North Bengal.
Trivandrum, Kerala. India. dhirajento.nbu@gmail.com;
pkomana2010@gmail.com dhirajsaha_nbu@rediffmail.com
Dr. S. Loghambal Dr.Biju V
Assistant professor Assistant Professor of Mathematics
Department of Mathematics College of Natural & Computational Sciences
V V College of Engineering DebreMarkos University, Federal Democratic
Tisaiyanvilai, Republic of Ethiopia.
Tamil Nadu, India bijuwillwin@gmail.com
Dr.CenapOzel Dr.S.Priyan
Faculty Member, Department of Mathematics
Mathematics Department, MepcoSchlenk Engineering College,
King Abdulaziz University Virudhunagar.
Turkey. India.
Dr. PradipSarawade Dr. M. Aruna
Assistant Professor, School of Physics Associate Professor & Head Department of Botany
University of Mumbai, Telangana University
India. Nizamabad. Telangana State India.
pradipsarawade@yahoo.co.in drarunatu@gmail.com
Prof.B.Vidyavardhini Dr. DhirajSaha,
Professor in Botany, Principal, Assistant Professor (Senior Scale),
University College of Science Insect Biochemistry and Molecular Biology
Head, Department of Botany, Telangana University Laboratory,
Dichpally, Nizamabad, Department of Zoology, University of North Bengal.
Andhra Pradesh, India. dhirajento.nbu@gmail.com;
drvidyavardhini@rediffmail.com dhirajsaha_nbu@rediffmail.com
 Emperor International Journal of Finance and Management Research -2395-592

EMPEROR INTERNATIONAL JOURNAL OF

FINANCE AND MANAGEMENT RESEARCH
[EIJFMR] ISSN: 2395- 5929

CONTENTS
SI.NO NAME OF THE PAPER PAGE NO
Effect of Demonetization and GST on Indian Tourism Sector: An Analysis on Foreign
1 Tourists Arrivals 1-5
R. Sankar
E-Governance in India
2 6-9
L. Balaji
A Study on attitude of Employees towards Human Resource Practices of Power Generation
3 Units of Tuticorin District 10-14
Dr. S. Makeshkumar, P. Thamayanthi
Prospects of Rubber Producers Societies in Kerala
4 15-20
Dr. U. A. Abdul Khalam, Stephen Mathew
Creating a Sustainable Future for Inclusive Growth: Conceptual and Operational Issues
5 21-26
Dr.Siddharth, C. Thaker
Social Justice in India : A Review
6 27-30
Dr. R. G. Jadhav
Attitude of Insurance Executives Towards increase in FDI Limit: A reference to Private
7 Insurance Sector in India 31-47
Selina Ruby, Dr. Veertha Thantia
Performance of Health Insurance Industry in India – A Study
8 48-55
Dr. K. Bhagyalakshmi
A Study on Competency Mapping Among the Employees of Selected Private Sector Banks
9 in Chennai City 56-63
V.Kothainayaki, Dr. S. Archana Bai
Strengthening the Capital Base of Public Sector Banks in India
10 64-67
Dr Abin T Mathews
Capital Structure of Financially Distressed Companies-A Study on SLPE’s working under
11 Chemical Sector in Kerala 68-76
K.K. Sunil Kumar, Dr. P. S. Devakumar
Customers’ Satisfaction in ATM Service: An Empirical evidences from Public and Private
12 Sector Banks in Tamil Nadu 77-82
Dr. R. Leelavathy
Antecedents of Employee engagement in Public and Private Sector Companies
13 83-92
P. S. Priya
Financial Inclusion through Banking Services with special reference to Rural Population in
14 Cheyyar Taluk 93-102
Dr. J. Srinivasan, C. Thangamani
Performance of General Insurance Companies in India (2012-2017)
15 103-105
Anusha Srinivasan Iyer
Patanjali Brand Success or Failure - A special reference to Kumbakonam Area, Tamil Nadu
16 106-110
Dr. R. Venkatesan
Impact of Financial Inclusion on the Economic Empowerment of Rural Women of Kerala
17 and Tamil Nadu 111-119
Dr,Sneha Gopeekrishna, Dr K.T. Geetha

Working Mechnaism of Goods and Service Tax Network

18 120-124
Dr. S. Vijayalakshmi

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 Emperor International Journal of Finance and Management Research -2395-592

SI.NO NAME OF THE PAPER PAGE NO

A Study on Organizational Climate and Job Performance of Faculty Members in Business
19 Schools in Tamil Nadu 125-130
R. Janaki, Dr. R. Ganapathy
Recent Trend E-Banking Innovative Banking Practices overall Tamil Nadu
20 131-138
Dr. G. Anbalagan
Quality of Work-Life of Women Employees in Information Technology Industry
21 139-142
Dr. E.K. Sivasakthivel, B. Jothi
Women Empowerment: The Role of Microfinance in India
22 143-147
Dr. V. Chinnasamy
A Study on Recruitment and Selection at M/S. Lucas-TVS Limited, Puducherry
23 148-152
S. Girija
Role of E-CRM in Online Shopping
24 153-156
A.Asna Albhina, S.Indumathi
A Comparitive analysis towards NPA of selected Private Sector Banks
25 157-163
Dr. C. Thilakam, R. Senthil Rajaprabha
Digital Banking: Takes Customer to the Next Level
26 164-168
Dr. B. Rajalakshmi
Service Quality Perceptions of Bharat LPG (Liquefied Petroleum Gas) Users in Mettur
27 down 169-172
Dr. C. Mugunthan, M.Kathiravan
Impact of Demographic variables on work Life Balance of Women Employees in IT Sector
28 with reference to Chennai 173-177
L. Anandha Lakshmi, V. Vinodhini
Performance of Crude Oil Commodity Futures Market in MCX in India
29 178-182
Dr. K. Prabhakar Rajkumar, M. Thilaga
Job Satisfaction among College Teachers: A Study on Government Colleges in Tamil Nadu
30 183-187
Dr. R. Eswaran, S. Pavithra
A Study on Stock Market Volatility Compared to Index Options at NSE
31 188-191
Dr. K. Prabhakar Rajkumar, D. Subalakshmi
An Overview of Siddha Medicine System in India
32 192-200
Dr. C. Madhesh, M. Chitra
Future Indian Banking using Internet of Things
33 201-206
S.S. Boomiga, V. Prasanna Venkatesan
A Study on Customer Attitude towards Pandian Grama Bank in Madurai
34 207-213
S. Renugadevi, C.Joselyn Nithya
Impact of Demonetization towards Digital Payment in Rural area with reference to Panruti
35 Taluk 214-218
Dr. R. Krishnakumar, M. P. Mumtaj
Brand awareness and Consumer Preferences towards Fast Moving Consumer Goods in
36 Thiruvannamalai District - An Empirical Study 219-230
Dr. G. Sasikumar, R. Chinnaraj
A Study on the application of Technology in Business of the Women Entrepreneurs
37 231-236
Dr. S. Yuvaraj
Impact on GST in India of Common Man
38 237-243
G. Jagannathan
Rural Consumer Behaviour and Purchase Decision- A Study on select Durable Products in
39 Palacode 244-250
Dr. K. Senthilkumar, N. Kalaiselvi
Social Media and its Impact on Consumer Behaviour
40 251-256
S. Baby Motcharakkini, R. Kuralarasan
Digital payments role in Indian Economy
41 257-265
Anilkumar Jaladi, Dr. Rajesh
Role of Information Technology in Commercial Banking Sector in India
42 266-271
Dr. A. Megala, R. Kumar
Performance of Indian Banking Sector – Challenges and Opportunities
43 272-275
Dr. Rajesh C. Jampala, Dr. Lt. M. Dhadurya Naik

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 Emperor International Journal of Finance and Management Research -2395-592

SI.NO NAME OF THE PAPER PAGE NO

A Study on Investment Pattern of Working Women in the City of Cuddalore District
44 276-278
G. Uma
Implication of Green Practices Management in Petroleum Logistics
45 279-285
Dr. B. Augustine Arockiaraj
Innovative Human Resource Management Practices
46 286-289
Dr. J. Durgaprasad, Dr. B. Jaya Prakash, Dr. Md. S. Rahaman
Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA): A Critical
47 Appraisal 290-296
Dr. P. Adi Lakshmi, Dr. Rajesh C. Jampala
Service Quality Measurement in Private Healthcare Industry in India
48 297-300
G. Palraj
Accounting Information and Share Price Movement of Sensex Companies – with special
49 reference to Profitability 301-305
R. Iyappan, Dr. L. Ganesamoorthy
Insured Perception on Private Health Insurance: with special reference to Chennai
50 Metropolitan City 306-308
Dr. G. Chokkalingam
Security Assaults in Wireless Sensor Networks
51 309-315
J. Saravana Kumar
Influences of Social Media Advertisement on Consumer Buying Decision
52 316-320
Dr. R. Krishna Kumar, R. Logu
A Study on Problems faced by the Small Retailers with effect of Demonetization in
53 Cuddalore Town 321-325
Dr. L. Santhana Raj, N. Dhivya
The Impact of Training and Development on Job Performance with reference to Arkema
54 Peroxides India Pvt. Ltd, Cuddalore 326-329
Dr. I. Savarimuthu, A. Jareena Begum
Impact of Social Media among Teenagers with reference to Facebook Users in
55 Cuddalore Town 330-334
Dr. A. Radhakrishnan, K. Radhika
‘Tragedies of Common’ : Challenges and the way Forward
56 335-339
Christy Alex Perayil
An Analysis of Agriculture Growth in Indian Economy
57 340-343
Dr. G. Senthilkumar, Dr. T. Ramanathan, Jaspreetkaur
A Study on Different Loan Schemes Provided by Commercial Banks – A Study Focus on
58 SBI and Federal Bank 344-357
Dr. M. Jaya Jacob
Effectiveness of Life Skill Training (Education) Program: A Study with reference to
59 Management Students at Bangalore 358-364
T. Somasundaram
A Study on Level of awareness of Savings and Investment Avenues of Working Women
60 365-374
Dr. K. Mohana Ranjani, Dr. G. R. Damodaran
Relationship analysis between the perception and attitude of employees through E-Banking
61 375-381
Dr. L. Senthilkumar
Measurement of productivity growth in Indian Manufacturing Industry a literature review
62 382-387
Abdul Sameer PM
A Study on Impact of Public Distribution System in the Eradication of Poverty in India
63 388-393
A. Janatha Selvi, Dr. P. Natarajamurthy
Impact of lean and green management on environment - A study
64 394-403
M. Balaji, Dr. M. Muniraju
Relationship between selected Demographic characteristics and Employee turnover in IT
65 Industry with special reference to Techno Park, Trivandrum, Kerala 404-409
K.S. Deepa, Dr. L. Manivannan
Branding kerala as a Tourist attraction
66 410-415
Dr. Swetabhasin

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SI.NO NAME OF THE PAPER PAGE NO

Controlling base Erosion by limiting interest and other Financial payments
67 416-419
Dr. R. Sarvamangala, S. Anil
Education on the perspective of Christian Religion to bring peace in Rongmei tribe of
68 Manipur with reference to Noney(Longmai) Area. 420-425
Panmei Peter
EQ impact of working capital management and capital structure on profitability of
69 Automobile Firms in Bangalore 426-430
D.Ramya
Service loyalty in public Sectors Banks with special reference to SBI
70 431-434
Dr. P. Sujatha
Household sector’s investments in mutual funds in India
71 435-440
Dr. A. Meenakshi
A study on level of usage of internet among plus two students with special reference to
72 Kannur District 441-456
Pankaj Ayikkomath
Employees attitude towards organisational change a study with reference to Ashok Leyland
73 457-462
Dr. G. Sugumaran, Y. Kavitha
Rural development in India some issues
74 463-465
Dr. G. Senthilkumar, Dr. T. Ramanathan, Dr. R. Sathiyaseelan
Poverty and Gender Inequality impact on HIV in India
75 466-470
T. S. Sukumar, Dr. Y. Ashok kumar
A study on Green Marketing Strategies for select consumer durables Goods with Special
76 reference to Chennai City 471-478
Dr. K. Krishna Murthy
A study on buying behaviour of consumer with special reference to Online Shopping in
77 Chennai City 479-484
Dr. P. Rajini
A study on attitude and satisfaction level of policyholders of LIC of India (with special
78 reference to Perambalur District) 485-489
Dr. P. Kanagaraju, A. Jesintharani
An Empirical Investigation of Investors’ Perception Towards Online Trading
79 490-497
Dr.R.Venkatesh, A.Syed beer

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 Emperor International Journal of Finance and Management Research ISSN: 2395-5929

AN EMPIRICAL INVESTIGATION OF
INVESTORS’ PERCEPTION TOWARDS
ONLINE TRADING
Dr.R.VENKATESH
Associate Professor
Department of Commerce
Sree Saraswathi Thyagaraja College
Pollachi
A.SYED BEER
Assistant Professor
Department of Commerce
Sree Saraswathi Thyagaraja College
Pollachi

ABSTRACT In the Indian context, online trading can be

Online trading refers to trading via the internet.
The onset of online trading changed the traditional
value proposition of trading, allowing online brokers
to supply investors with rich, interactive information
in real time including market updates, investment
research and robust analytics. This study sheds light
on the how these online trade market work and how
they are satisfying their investors. It aims at studying
the investors‟ perception of online trading in share
market also helps to find out accessing the present
level of service provided and identifying the areas
which require attention for improving its services.
Key words: Online Trading, Share Market,
Online Operations, Investors’ Perception
I. INTRODUCTION
Online trading refers to trading through internet.
Now the time has gone where a person used to bind
himself in a limited sphere. Online trading assists
investors in exchange of stock anywhere, offering
platform with immense flexibility. Online trading
provides opportunity to investors to buy and sell
securities using broker‟s website. There cannot be a
better option to monitor the action of stock exchange
by sitting in from of a Personal Computer, offering
bids to trade in stock and even entering stop limit
order.
rightly called as a recent phenomenon, which took
root with the change of century i.e. April 2000, and
even till day online trading is not much popular
among investors for which a list of factors can be
blamed. This fact is more clear form the information
available that where number of stocks exchanges in
India has grown from 7 exchanges in 1946 to total 23
stock exchanges till 2010, only two stock exchanges
are providing online share trading. Indian stock
exchanges have started adopting technology because
it provides the necessary impetus for the organization
to retain its competitive edge and ensure timeliness
and satisfaction in customer service.
NSE adopted National Exchange For Automated
Trading (NEAT) system which is an online, order
driven, screen based trading system through which
member can execute his transaction using computer
mentioning quantities of securities and prices at
which he will like to transact. Order of the investor
is automatically executed when the system funds
matching order from the counter party. Simply, the
investor has to enter his request (securities, quantity,
price and buy/sell) in broker‟s site, which is checked
electronically to appropriate exchange for execution
by the broker. At the same time customer‟s accounts
are updated to reflect the transaction.

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 Emperor International Journal of Finance and Management Research ISSN: 2395-5929
Significance of online trading:
 Time
Customer can trade online with a real time basis
and buying and selling of shares happens with a press
of a button.
 Flexibility
Customers can modify the placing orders
according to the market movements.
 Standardized Procedure
When the order is accepted by the exchange, it
will give pay-in and pay-out dates and customer can
easily expect the cash or shares to be credited to his
account.
 One stop shop
Bank statements and transaction statements can
be viewed at the click of a button.
 Informed Research
Service providers carry stock analysis like
intraday and EOD (End of Day) technical charting
which helps the customer to make right choices.
 Flexibility of timing
Customer can place orders before start of a
trading session.
Problems of online trading
 Brokerage is high compared to offline.
 Privacy is less due to hacking scandals.
 Transactional errors due to technical
problems.
 Value Added Services
 Trading in shares
• Spot Trading: When an investor is looking
at an immediate liquidity option. „Cash on spot‟,
money is credited to his bank a/c the same evening
and not on the exchange pay-out date. This money
can then be withdrawn from any of bank ATMs.
• BTST: Buy today and sell tomorrow is a
facility that allows investor to sell shares even one
day after the buy order date, without investor having
to wait for the receipt of shares into his demat a/c.
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• Trading on NSE/BSE: Through some of
the service providers, we can trade on both NSE and
BSE.
• Margin Trading: Investor can trade an
intra-settlement trading up to four times of the
investor‟s available funds, wherein investor take long
buy short sell positions in stock with the intention of
squaring off the position within the same settlement
cycle.
Investing in Mutual funds
Some of the major service providers bring the
same convenience while investing in Mutual Funds
as well as Hassle free and paperless investing. Once
the investors place a request for investing in a
particular fund, there are no manual processes
involved. Investor‟s funds are automatically debited
or credited while simultaneously crediting or debiting
investors unit holdings.
Derivatives
• Futures: Through online trading service
providers, one can trade in index and stock futures on
the NSE. In futures trading, investor takes buy/ sell
positions in index or stocks contracts having a long
contract period of up to 3 months.
• Options: Through online trading service
providers, one can trade in index and stock options.
IPO’s Online
Investors could also invest in Initial Public
Offers (IPO‟s) online without going through the
hassles of filling any application form/paperwork.
They can get in-depth analysis of new IPO‟s issues
(Initial Public Offerings) that are likely to hit the
market and analysis on these. IPO calendar, recent
IPO listings, prospectus/offer documents, and IPO
analysis are also provided.
Other services:
Displaying indices of major world markets, nifty
futures, daily share prices of all scrip‟s, monthly and
yearly highs/lows of share prices are listed, technical
charts of intraday and EOD (End of Day) are also
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 Emperor International Journal of Finance and Management Research ISSN: 2395-5929
provided. Company profiles, breaking news and
snapshots of latest developments in the market are
displayed in the website.
2. Statement of the Problem
There is no panacea for all problems in share
trading, the researcher tries to focus on “An
Empirical Investigation of Investors‟ Perception
towards Online Trading" An attempt has been made
to analyse in select places of Coimbatore city
particularly in Online Trading. Business men should
take every step carefully otherwise their days would
be counted. Share trading which is risky is not an
exception. All are not competent to enter in the field
of share trading. There is a stiff competition and
volatility prevailing in share trading. Fittest and
tactfully taking decisions are the surveyors of share
trading race. Therefore, a study entitled “An
Empirical Investigation of Investors‟ Perception
towards Online Trading." It also aims to identify the
problems encountered by the investors and offer
pragmatic solutions to eliminate these problems and
improve its working. An efficient functioning of
share market is measuring rode for the development
of the economy of the country.
II. REVIEW OF LITERATURE
Karhik Krishnan, (2002) presented a research
paper in NSE research initiative on "Achieving an
Individual Investor Friendly System using the Power
of the Internet". He focused on the regulator and
Internal affairs, the Investor Education System, the
Reputation Rating System and Dispute Resolution.
Lee, S., Lee, S., & Park, Y. (2007) attempts to
identify some characteristics of services which
encourage customers to buy online and to develop a
prediction model for success based on customer
recognitions of service offerings in e-commerce. For
the purpose, a survey was conducted on potential e-
customers for their understandings of service
offerings extracted from Portal Sites. Collected data
were used to develop a prediction model using
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decision tree which showed superior prediction
accuracy to conventional techniques. The results will
help predict online success judging from customer
acceptance and afford a better understanding of how
to facilitate future adoption of services in e-
commerce.
NidhiWalia,(2007) in his study as financial
system is becoming more complex it has become
need of the hour where investors should comprehend
the data and understand recent intricacies of online
trading. In Indian context e- trading is relatively new
phenomenon, which has yet to gain some significant
meaning. In the past investors have no other option to
get market information except to contact their local
broker? But Internet trading in stock market is
becoming medium of exchange whereby investor can
order stock exchange on simple mouse click sitting at
his place. Keeping in view current market
requirement an attempt has been made in this
research paper to analyze current status of online
trading in Indian scenario. Facts highlighted in this
study clearly reveal that although online trading is
picking up its speed to tap investors yet it is expected
to adopt creative strategies to lure customers from
physical trading to net trading.
Renee Barnett, (2001)have examined that online
trading has enabled increased access to the securities
market. Encouraging investment in securities can be
good for both individual investors and the economy
as a whole. Yet to preserve the benefits created by
online trading, investor protection is imperative. One
aspect of this protection is the clarification of
suitability obligations online. The difficulty in
determining what constitutes a recommendation
online makes investor protection difficult. This
difficulty is further complicated by online brokers‟
aggressive advertising campaigns. Unsophisticated
investors are particularly vulnerable to the potential
pitfalls of online trading. Therefore, to encourage
these investors to continue participating in the
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 Emperor International Journal of Finance and Management Research ISSN: 2395-5929
securities market for the long term, they should be
protected now through the use of suitability checks
for all the orders they place online. In addition to
suitability checks, regulators should continue
investor education initiatives and strongly encourage
online brokers to better educate their customers.
Venkatesh, R. (2015) in his research paper titled
“Investors perception towards investment in Mutual
Funds – A study in Thanjavur District” has
mentioned that safety, risk and high return are sound
to be the majorfactors influencing the investment
decision in mutual funds. Liquidity, tax benefit, low
risk safety are the reasons for choosing particular
mutual funds are the special features that investors
look in mutual fund. Investors perceive mutual funds
to be better investment avenues than other investment
avenues/ instruments. The research had mentioned
that the mutual funds have underperformed as against
expectations and management of mutual funds
companies have inefficient, thereby discouraging
investors keep their funds parked in mutual funds.
Venkatesh, R., &Meera, V. (2017) have
examined women Investors have their own investing
styles: some are risk takers by nature, willing to
gamble large amounts of money on highly
speculative investments. Others prefer the safety and
security of cash in the bank even if it means that the
actual buying power of their money is slowly
dwindling because of inflation. Most people fall
somewhere in between these extremes, and are
willing to assume some risk, with the expectation that
they‟ll be rewarded with higher returns.Running a
successful MF requires complete understanding of
the peculiarities of the Indian Stock Market and also
the psyche of the small investor. This study has made
an attempt to understand the financial behaviour of
Women Mutual Fund investors in connection with
the scheme preference and selection. The post survey
developments are likely to have an influence on the
findings. Behavioural trends usually take time to
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stabilize and they get disturbed even by a slight
change in any of the influencing variables. Hence,
surveys similar to the present one need to be
conducted at intervals to develop useful models.
Nevertheless, it is hoped that the survey findings will
have some useful managerial implication for the
AMCs in their product designing and marketing.
Many women are less willing than men to take risks.
Yet, a certain degree of risk is necessary to build a
well-diversified portfolio. By learning all about
investing, women can become more comfortable
making investment decisions that involve different
levels of risk.
III. OBJECTIVES OF THE STUDY
For conducting this study following objectives
were set:
1. To analyse the personal profile of the
clients.
2. To know the preference of investors towards
conducting their online trading transactions.
3. To identify the problem faced by the
investors during the usage of online trading.
4. To examine the perception of investors
regarding online trading.
5. To study investors satisfaction on online
trading in the study unit.
IV. SCOPE OF THE STUDY
The scope of the study is very wide. This study
will be useful to academicians as well as the online
traders. It is also useful to brokers, depository, stock
exchange, corporate sector and investors. This data
was collected in Coimbatore city only.
V. METHODOLOGY
For conducting this study, first step was to select
sample, which was selected on a convenient basis.
As this study was mainly based on primary data, so
for conducting it investor‟s responses were collected
through pre-determined set of questions in the form
of well-designed questionnaire. Total 300
questionnaires were distributed.
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 Emperor International Journal of Finance and Management Research ISSN: 2395-5929

RESEARCH DESIGN Table No. 1

The research design is descriptive in nature. It is Investors’ age profile
essentially a fact-finding approach, to study the S.No. Investors age Respondents Percent
existing state of affairs. The descriptive research Under 25
1 60 20
Years
studies are those studies, which are describing 25 years-45
2 165 55
systematically a situation or area of interest and years
Above 45
accurately. 3 75 25
years
Data Analysis Total 300 100
After compiling the data on age of investors
Responses were collected from investors with
who deal in stock trading, it was found that
the help of will structured questionnaire where
majority of investors come under middle age group.
initially investors were asked to give their opinion of
May be the reason for this is that in this age
problems (which they encounter at the time of online
investors are more aware, more responding, risk
trading) at three point rating scale Agree (3),
taker etc.
Disagree (2), Neither agree nor disagree (1) and then
Table No. 2
weighted average score was calculated. Ranks given
Investors’ Educational Level
by investors for their respective stock trading pattern
S.no. Investors Respondents Percent
are finalized by assigning weightage to their Qualification
preference. Further to analyze the investor‟s 1 Graduate 81 27
perception on online trading, Likert scale was used at 2 Post Graduate 219 73
three point rating scale.
Total 300 100
VI. LIMITATIONS OF THE STUDY From the table reflects the educational status of
This study is subject to following limitations:- investors it is quite clear that most of the investors
 Due to shortage of time this study is conducted are educated and they can be considered in the
with the responses of 300 investors only. category of rational investors who are
 Study area of this is confined to Coimbatore city knowledgeable and have a strong judgment power.
and nearby areas only. Table No. 3
 These data are purely based on the responses of Investors’ Income Level
the respondents. S.No. Income level Respondents Percent
 The study is related only to the online trading in 1 Less than 60 20
stocks. The other aspects like online trading in Rs.1,00,000
2 Rs.1,00,000 – 144 48
commodities, online shopping etc., are not Rs. 2,,00,000
covered. 3 Rs.2,00,000 96 32
Above
VII. DATA ANALYSIS AND INTERPRETATION Total 300 100
Present study was an attempt to conduct to find From the above table it can clearly assess that
out the trend of online trading in Indian stock majority of investors are in the middle or above
markets. Although sample collected under study was average group of income. This is because mainly
through deliberate sampling in which mainly that those investors prefer to invest in stock trading who
investors group tapped who were expected to deal in have some income base
stock trading. Total 300 investors selected for study.

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 Emperor International Journal of Finance and Management Research ISSN: 2395-5929

Ranking of Preference Order for Stock Trading
As for this study, Net Traders (NT) was opting
for that mechanism. For this purpose five
statements were used, which are the common
objective for selecting the trading mode. Investors
were asked to give ranks to their options for 1 to 5,
where 1 means most preferred and 2 denote next
preference and so on. In the next step scores were
given to various ranks as 5,4,3,2,1 for ranks
1,2,3,4,5. Finally ranking is done on the basis of
AWS.
Table No. 4
Preference Order of Investors
5 4 3 2
the investors lead to the conclusion that Net Traders
are active players of stock market and they keep
close watch on Sensex movements. Net Traders
were found to be more knowledgeable in share
market.
Problems in Online Trading
During the study, it was found that although
technology is bringing boom in Indian economy,
still majority of the people have not realized the
importance of technology particularly in stock
trading as it was evident from data that out of a
total sample of 300 investors 100% were trading
online. Thus, while designing the questionnaire an
1 attempt was made to find out the reasons or
AWS

Rank

problems, which are hindering the growth of online

III trading. For this purpose responses were recorded

145
(48.4)

77 (25.8)

48 (16.1)

20 (6.5)

10(3.2)

4.10
Less Cost

separately on three point Liker scale (Table 5).

Table No. 5
Problems in online trading
II
164 (54.8)

58 (19.4)

39 (12.9)

29 (9.7)

10 (3.2)

4.13
Convenience

Net Traders
Problems
in online
trading Disagr Neutr A S.
IV Agree
ee al WS D.
136 (45.2)

68 (22.6)

48 (16.1)

29 (9.7)

20 (6.5)

3.90
Management
Professional

Inadequate
Availabilit 77
195 27(9.1 2.3 .88
y of (25.8
(65) ) 9 2
I Technolog )
(58.1)

58 (19.4)

39 (12.9)

20 (6.5)

10 (3.2)

4.23
174
Transparen

y
cy

Risk of 48
213(7 39 2.5 .76
System (16.1
1.0) (12.9) 5 8
Failure )
V
(41.9)

77 (25.8)

48 (16.1)

29 (9.7)

20 (6.5)

3.87
126
Less Time
Consumin

Lack of
Profession
g

20 223(7 58(19 1.8 .49

al
(6.5) 4.2) .4) 7 9
Manageme
From thetable reveals that preference orders nt
ofNT their main preference for online trading. They High 68
203 29(9.7 2.4 .85
Transactio (22.6
also feel that in case of traditional traders there are (67.7) ) 5 0
n Cost )
more chances of fraud by brokers. But, Online share Lack of
87
Sufficient 29 184(6 1.8 .60
trading (Net Traders) is absolutely secure and (29.0
Informatio (9.7) 1.3) 1 1
)
„transparent‟ (AWS 4.23). The next preference will n
More
be given by the NT to „more convenience‟ (AWS
Chances of 48
29 223(7 1.9 .51
4.13) and third preference for „less cost‟ (AWS 4.10). Fraud (16.1
(9.7) 4.2) 4 2
(Broker )
During the study, informal conversations with
Side)

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 Emperor International Journal of Finance and Management Research ISSN: 2395-5929

Poor

broker‟s
Trading is
reducing

39(13.0)

212(70.8)

49(16.2)

1.97

.547
for stock
Trading
the role of
Online
68
Communic 184 48 2.3 .84
(22.6
ation (61.3) (16.1) 9 4
)
Network
Lack of 58
48 194(6
1.9 .60
Transparen (19.4

203process
(67.8)

29(9.6)

68(22.6)

2.45

.850
Trading

Trading

more
transparent
Net

has made
(16.1) 4.5)7 5
cy )
From the table reveals that most of the
responses given by NT reveal that the major
problem indicated by them has that this system still

223(74.2)

29(9.6)

49(16.2)

2.58

.765
Trading

ahead
future
Online

has bright
required more advanced technology. One major
problem indicated by NT has that they agreed „high
transaction cost‟ has the major problem in NT and

242 (74.4)

19(6.4)

39(13.0)
reduced

fraud

2.68

.702
Trading

of
has
Online
„inadequate availability of technology‟ has the third

chances
rank given by the investors.
Analysis on investors‟ perception about online

232 (38.7)

29(9.6)

39(13.0)

2.65

.709
Trading

investment
gives more
on
Online
trading
In the next phase of this study the researcher to
know about the potential of online trading in the near
future. With that objective the researcher started After collecting the responses of investors that
with structured questions in the form of statements. whether they feel online trading has bright future
Most of the investors admitted it that with the use of ahead the researcher can comment that although
ICT in Indian stock market trading process has NT are quite positively about net trading but still
become more efficient. NT admitted this fact that majority of TT are conservative and have positive
ICT has proved successful in making capital market. view about online trading.
Table No. 6 Table No.7
Analysis of Investors’ Perception Satisfaction levels of investors

Net Traders S.No. Investors Net trader

Investors 1 Yes 282 (94%)
’ 2 No 18 (06%)
Percepti Agre Disagr Neutr AW S.D Total 300 (100%)
on e ee al S . From the above table it is obvious that 94% NT
have had good experience about online trading and
Investors
203(67.5)

39(13.0)

58(19.4)

2.48

.811
Trading

more
has
captured
Online

they are satisfied about net trading. Success of

online trading can be clearly seen from the responses
of NT, where out of the total, 94% NT were found to
77(25.8)

174(58.0)

49(16.2)

2.10

.651
trading

capital

become
efficient
market has
Indian
With
online

be satisfied and just 6% NT were not satisfied.

market is
194(64.5)

49(16.2)

58(19.4)

2.45

.810
stock

Trading
correlated
with Net
Upward
Trend in

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 Emperor International Journal of Finance and Management Research ISSN: 2395-5929

VIII. FINDINGS infrastructure, risk adverse attitude on investors etc.

Following crux is concluded after conducting
this study:
 Indian investors are more conservative;
they do not adopt any change easily.
 Most of the investors who deal in stock
trading are in middle age, educated and
have sufficient income base.
 NT prefers online trading because they
find this system more transparent, where
they can deal in stock trading with
everything under their control. Moreover
results of our study show that as most of
NT is computer literate, they find it
convenient to deal in online stock trading.
 Majority of the investors agree to this fact
that online trading has reduced the
So with the growth of educated investors and support
form SEBI, online trading is sure to grow at faster
pace.
X. REFERENCES
1) Sharma, A., & Seth, N. (2012). Literature review
of stock market integration: a global
perspective. Qualitative Research in Financial
Markets, 4(1), 84-122.
2) Avadhani, V. A. (2009). Securities Analysis and
Portfolio Management. Himalaya Publishing
House.
3) Bhalla, V. K. (2008). Investment Management.
S. Chand Publishing.
4) Biswas, S. (1997). Information technology in
services sector: a vision for India. Information
Today and Tomorrow, 16(3), 5-8.

changes of fraud. 5) Ho, C. T. B., & Oh, K. B. (2008). Measuring

 NT are quite optimistic about the bright online stockbroking performance. Industrial

future of online trading and 96.42% NT Management & Data Systems, 108(7), 988-

agree with this statement. 1004.

IX. CONCLUSION
Nevertheless, online trading has offered investors
a platform with transparency in system. Although
net trading at NSE is considered to be at its infancy
stage but success trend of online trading predicts
bright future where investors will get opportunity to
buy; new integrated financial products. Online
trading empowers educated investors to make their
own decision with close watch on market sensitivity
by browsing through various sites. Besides, net
trading assures achievement of twin objectives of
securities regulation, which are creation of efficient
market to meet global requirements and investor‟s
protection. But despite of the hard effort on the part
of NSE to introduce sophisticated technology, online
trading is considered to be on the way to its journey
and lot more efforts are required to fully utilize the
potential of ICT. Major impediments to growth of
online stock trading are computer illiteracy, poor

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