ISSN (Print): 2788-8320 ISSN (Online): 2788-8339 Journal of Social Research Development, Volume 1, Issue 1, JUNE, 2020 93 JOURNAL OF SOCIAL RESEARCH DEVELOPMENT ASSESSMENT OF INDIVIDUAL AND INSTITUTIONAL INVESTOR’S INVESTMENT BEHAVIOR DURING COVID-19: A CASE OF EMERGING ECONOMY Aamir Sohail 1 , Abid Hussain 2 & Farhad Hussain 3 1 Lecturer Commerce, University of Sargodha (Sub Campus Bhakkar), Punjab, Pakistan 2 Department of Public Administration, Gomal University, Dera Ismail Khan, KP, Pakistan 3 Ph.D. Scholar, Department of Management Sciences, The Hebei University, CHINA KEYWORDS ABSTRACT Investment Decisions, Individual Investors, Funds’ Managers, COVID-19 In study of stock investment in the capital market by investors in Pandemic Covid-19, it is always carried out rationally. Decisions on stock investments are not always rational. main purpose of research is to analyze behavioral factors that affect preferences of individual’s investors and fund managers in emerging stock market, Pakistan Stock Exchange. The data of this research were “collected through semi-structured interviews with five fund managers and five individual investors” from Pakistan Stock Exchange. The researchers used thematic analysis for data interpretation. The major findings stress that retail investors are more effected by behavioral biases in comparison with fund managers. The results shows that there are some major biases which are affecting both type of investors like overconfidence-gambling, herding, market, prospect, errors and anchoring-ability bias. Data for this study was collected for one time only, for better understanding data may be collected for more than one time in future. Triangulation method may be directed in future for further clarification in existing study. Corresponding Author Aamir Sohail, Email: Aamir.sohail@uos.edu.pk DOI https://doi.org/10.53664/JSRD/01-01-2020-09-93-104 INTRODUCTION In Wuhan, province of Hubei, China, at the end of December 2019, mysterious pneumonia was created. Chinese scientists say that a new coronavirus spreads much more rapidly than the 2003 SARS virus in China, which killed around 800 people world-wide (Callaway et al., 2020). On 11 March 2020, “World Health Organization (WHO) announced” pandemic for the corona virus. Because of the COVID-19 pandemic status, governments have chosen to lock down or to complete the isolation or quarantine in various countries. A number of countries, including China, Spain, Italy and Malaysia, have enforced loads by closing all access to public facilities and transportation to prevent spread of corona virus. Pakistan itself has a large-scale physically distant social restriction policy. The lock-down or large social restrictions have slowed down the economy, which has also affected stock investments on www.jsrd.org.pk editor@jsrd.org.pk