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Investigating the influence of Asian cultural value and financial knowledge on investment behaviours

This study showed the combination of composite Asian cultural value (ACV), kiasuism (“fear of loss”), and the often-associated self-esteem, social intelligence, and achievement orientation exerted an impact on investment decision-making. It further explored the mediating influence of financial know...

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Main Author: Nga, Joyce Koe Hwee *
Format: Article
Language:English
Published: MAJCAFE 2020
Subjects:
HG Finance
Online Access:http://eprints.sunway.edu.my/1926/1/Joyce%20Investigating%20the%20Influence%20of%20Asian%20Cultural%20Value%20and%20financial%20knowledge%20on%20investment%20behaviours.pdf
http://eprints.sunway.edu.my/1926/
https://submit.confbay.com/conf/majcafe/subitemid=32
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spelling my.sunway.eprints.19262021-12-03T08:06:02Z http://eprints.sunway.edu.my/1926/ Investigating the influence of Asian cultural value and financial knowledge on investment behaviours Nga, Joyce Koe Hwee * HG Finance This study showed the combination of composite Asian cultural value (ACV), kiasuism (“fear of loss”), and the often-associated self-esteem, social intelligence, and achievement orientation exerted an impact on investment decision-making. It further explored the mediating influence of financial knowledge on investing behaviours (namely rational, risk aversion, herding and diversification). This research is novel as it addresses a gap in behavioural research particularly on the influence on ACVs and investing decision-making.In terms of research design, this study employed a purposive sampling method engaging with 463 respondents within the Klang Valley, Malaysia. A voluntary and anonymous quantitative questionnaire utilising a 7-point Likert-like scale was employed to measure the constructs. Due to the exploratory nature and formative constructs used in this study, the PLS-SEM method was implemented to assess the model validity and test the hypotheses. The findings thus showed that kiasu values promoted herding behaviour among investors. Besides, financial knowledge acquisition was a mediator between kiasu positive behaviours and rational investing, risk aversion, and diversification. Accordingly, the study offers suggestions of importance for financial planners, especially in Malaysia and Asian countries, in better understanding their clients. Besides, it also has implications on how more culturally relevant financial education content could further enhance the effectiveness of financial decision-making in general MAJCAFE 2020 Article PeerReviewed text en cc_by_nc_4 http://eprints.sunway.edu.my/1926/1/Joyce%20Investigating%20the%20Influence%20of%20Asian%20Cultural%20Value%20and%20financial%20knowledge%20on%20investment%20behaviours.pdf Nga, Joyce Koe Hwee * (2020) Investigating the influence of Asian cultural value and financial knowledge on investment behaviours. Malaysian Journal of Consumer and Family Economics, 24. p. 173. ISSN 1511-2802 https://submit.confbay.com/conf/majcafe/subitemid=32
institution Sunway University
building Sunway Campus Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Sunway University
content_source Sunway Institutional Repository
url_provider http://eprints.sunway.edu.my/
language English
topic HG Finance
spellingShingle HG Finance
Nga, Joyce Koe Hwee *
Investigating the influence of Asian cultural value and financial knowledge on investment behaviours
description This study showed the combination of composite Asian cultural value (ACV), kiasuism (“fear of loss”), and the often-associated self-esteem, social intelligence, and achievement orientation exerted an impact on investment decision-making. It further explored the mediating influence of financial knowledge on investing behaviours (namely rational, risk aversion, herding and diversification). This research is novel as it addresses a gap in behavioural research particularly on the influence on ACVs and investing decision-making.In terms of research design, this study employed a purposive sampling method engaging with 463 respondents within the Klang Valley, Malaysia. A voluntary and anonymous quantitative questionnaire utilising a 7-point Likert-like scale was employed to measure the constructs. Due to the exploratory nature and formative constructs used in this study, the PLS-SEM method was implemented to assess the model validity and test the hypotheses. The findings thus showed that kiasu values promoted herding behaviour among investors. Besides, financial knowledge acquisition was a mediator between kiasu positive behaviours and rational investing, risk aversion, and diversification. Accordingly, the study offers suggestions of importance for financial planners, especially in Malaysia and Asian countries, in better understanding their clients. Besides, it also has implications on how more culturally relevant financial education content could further enhance the effectiveness of financial decision-making in general
format Article
author Nga, Joyce Koe Hwee *
author_facet Nga, Joyce Koe Hwee *
author_sort Nga, Joyce Koe Hwee *
title Investigating the influence of Asian cultural value and financial knowledge on investment behaviours
title_short Investigating the influence of Asian cultural value and financial knowledge on investment behaviours
title_full Investigating the influence of Asian cultural value and financial knowledge on investment behaviours
title_fullStr Investigating the influence of Asian cultural value and financial knowledge on investment behaviours
title_full_unstemmed Investigating the influence of Asian cultural value and financial knowledge on investment behaviours
title_sort investigating the influence of asian cultural value and financial knowledge on investment behaviours
publisher MAJCAFE
publishDate 2020
url http://eprints.sunway.edu.my/1926/1/Joyce%20Investigating%20the%20Influence%20of%20Asian%20Cultural%20Value%20and%20financial%20knowledge%20on%20investment%20behaviours.pdf
http://eprints.sunway.edu.my/1926/
https://submit.confbay.com/conf/majcafe/subitemid=32
_version_ 1718929293278445568
score 13.211869

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