Intention to Investment Among Economics and Business Students Based on Theory of Planned Behavior Framework

Abstract

Investment behavior has become a daily lifestyle of modern society. Financial investments are also growing to be an alternative, like stocks, bonds, mutual funds, foreign exchange even cryptocurrency. However, not all elements of society can accept this pattern of financial investment, even though technological advances have provided various facilities so that the public can make investment decisions anytime and anywhere. This study seeks to analyze the investment behavior of students who have finished their investment and portfolio analysis courses. In particular, this study examines the effect of investment knowledge and entrepreneurial attitude on investment intentions of the Faculty of Economics, Unimed, students with normative belief and perceived behavioral control as mediating variables. This study was conducted using a survey method using a simple random sampling technique. Data were collected by online questionnaire, and the researchers have collected 87 responses. Furthermore, we used variance-based SEM to analyze the data. The results of this study indicate that entrepreneurial intention is a key variable in shaping investment intentions. Meanwhile, normative belief and perceived behavioral control are found to reduce this effect. Therefore, this study recommends inculcating an entrepreneurial attitude for students interested in becoming investors or traders.

The Influence of Subjective Norms, Financial Literacy, Trust, and Government Regulation on Behavioral Intention to Invest in Crypto Assets

“…In line with previous research, the study demonstrates that subjective norms have no effect on behavioral intentions (Arias-oliva et al, 2019;Ayedh et al, 2020;Baur et al, 2015;Echchabi, Omar, et al, 2021;Mazambani & Mutambara, 2019;Nurbarani & Soepriyanto, 2022;Nurhayani et al, 2022;Zamzami, 2020). It is known that the influence and opinions of others have no effect on their intention to invest.…”

“…Multiple studies have produced contradictory findings regarding the relationship between subjective norms and behavior intentions. According to (Arias-oliva et al, 2019;Ayedh et al, 2020;Echchabi, Omar, et al, 2021;Mazambani & Mutambara, 2019;Nurbarani & Soepriyanto, 2022;Nurhayani et al, 2022;Zamzami, 2020), subjective norms do not influence an individual's intent to use cryptocurrencies. In contrast, (Almajali et al, 2022;Anser et al, 2020b;Echchabi, Aziz, et al, 2021; discovered that subjective norms influence behavioral intentions to use crypto.…”

The Influence of Subjective Norms, Financial Literacy, Trust, and Government Regulation on Behavioral Intention to Invest in Cryptocurrency

“…Several studies have produced conflicting findings regarding the relationship between subjective norms and behavioral intentions. Several studies have found that subjective norms have no effect on the intention to invest in cryptocurrency (Arias-oliva et al, 2019;Ayedh et al, 2020;Echchabi, Omar, et al, 2021;Mazambani & Mutambara, 2019;Nurbarani & Soepriyanto, 2022;Nurhayani et al, 2022;Zamzami, 2020). In contrast to these findings, other researchers discovered that subjective norms influence behavioral intentions to invest in cryptocurrency (Almajali et al, 2022;Anser et al, 2020;Echchabi, Aziz, et al, 2021;Pham et al, 2021).…”

Investors Behavioural Intention of Cryptocurrency Adoption – A Review based Research Agenda

“…Lada, S., et al, 2009 [109-110]). There are several theories that may be used to analyze the BI of cryptocurrency users UTAUT and UTAUT2 (Hasan, S. Z., et al, (2022)-Nurhayani, U., et al, (2022) [111] TPB [112]).…”