Linkage between behavioural factors and investment intention among youth in Malaysia

Chia, Wan Thing and Koh, Kah Fong and Ng, Wee Kit and Yap, Zheng Hee (2023) Linkage between behavioural factors and investment intention among youth in Malaysia. Final Year Project, UTAR.

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Abstract

This research carries the purpose of examining the relationship between behavioural factors and investment intention among youth in Malaysia. The explanatory variables (phycological factors) include risk tolerance, financial literacy, overconfidence bias, social interaction, herding behaviour, disposition effect, and perceived behavioural control. The combination of behavioural finance theory and the theory of planned behaviour is applied to investigate how behavioural factors affect investment intention. In this research, primary data, as well as convenience sampling method, was implemented. A total of 400 respondents were collected from individuals aged between 18 – 30 across Malaysia, in which most of the respondents are students and alumni from UTAR. Data collected for analysis and interpretation was generated with the aid of IBM SPSS Statistics Version 28. Indeed, the results obtained were examined and interpreted using Descriptive Analysis, Reliability Analysis, Pearson’s Correlation Coefficient analysis, Multicollinearity Test, Multiple Regression Analysis, and ANOVA test. From the research outcomes, risk tolerance, financial literacy, overconfidence bias, social interaction, disposition effect, and perceived behavioural control have a significant impact on investment intention whereas herding behaviour is not statistically significant in influencing investment intention. In addition, the implications, limitations, and recommendations of the research are provided to facilitate future research related to this field.

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