Investors' Behavioral Intention in Mutual Fund Investments in India: Applicability of Theory of Planned Behavior

被引:0
作者
Thanki, Heena [1 ]
Tripathy, Naliniprava [2 ]
Shah, Sweety [3 ]
机构
[1] Shri Jairambhai Patel Inst Business Management & C, Gandhinagar, Gujarat, India
[2] Indian Inst Management Shillong, Shillong, Meghalaya, India
[3] LJ Univ, LJ Inst Management Studies, Ahmadabad, Gujarat, India
关键词
Mutual fund; Financial literacy; Behavioral investment intention; Attitude; Subjective norms; Theory of planned behavior; C39; G19; G41; FINANCIAL LITERACY; DECISION-MAKING; SMART MONEY; DETERMINANTS; IMPACT; BIASES; KNOWLEDGE; CRITERIA; ONLINE;
D O I
10.1007/s10690-024-09477-4
中图分类号
F [经济];
学科分类号
02 ;
摘要
This study examines the impact of subjective norm, attitude and perceived control behavior (financial literacy) on investors' behavioral intention to invest in mutual funds based on the theory of planned behavior. We have applied Structural Equation Modelling - path analysis to examine the influence of financial literacy, subjective norms, and attitude on the behavioral investment intention of mutual fund investors. The study's findings indicate that Investors' choice to invest in a mutual fund is positively prejudiced by their subjective norms, attitude, and financial literacy. Subjective norms significantly influence investment decisions more than attitude and financial literacy. Age, gender, and level of education have no moderating effect on attitude, subjective norms, and financial literacy. The study is proved to be unique to the literature on behavioral finance. The study's findings are eye-opening as the investment intentions in the mutual fund are influenced by subjective norms, indirectly signaling that investors lack awareness of mutual fund investment.
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页数:22
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