Mind over Market? Determinants of Individual Investment Decisions in Vietnam’s Stock Market

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F25%3A63593238" target="_blank" >RIV/70883521:28120/25:63593238 - isvavai.cz</a>

Výsledek na webu

—

DOI - Digital Object Identifier

—

Jazyk výsledku

angličtina

Název v původním jazyce

Mind over Market? Determinants of Individual Investment Decisions in Vietnam’s Stock Market

Popis výsledku v původním jazyce

This study examines the determinants of individual investors’ stock investment decisions, with a focus on psychological and demographic characteristics. Building on this model, based on prospect theory, the theory of planned behavior, and the life-cycle hypothesis,the study investigates the influence of five main determinants: attitude towards investment, risk tolerance, broker advice, herding behavior, and concern for Environmental, Social, and Governance (ESG) issues. It also examines how age moderates the relationshipbetween risk tolerance and investment decisions. The authors collected data from 259 individual investors using a structured questionnaire and analysed data through PLS-SEM. The results indicate that attitudes towards investment, risk tolerance, broker advice, andESG concerns are positively related to the investment decision, with attitudes being the most crucial drivers. In contrast, the effect of herding behavior was insignificant. The findings also support the critical role of age in moderating negatively the effects of risktolerance on investment decisions, such that this influence is attenuated among elderly risktakers. These findings highlight the vital roles of psychological and informational factors, illustrating how these relationships are influenced by demographic context. The studycontributes to the literature by incorporating psychological, social, and sustainability factors into a comprehensive model of investor behaviour and proposes implications for financial advisors, policymakers, and educators seeking to boost market participation andresponsible investing.

Název v anglickém jazyce

Mind over Market? Determinants of Individual Investment Decisions in Vietnam’s Stock Market

Popis výsledku anglicky

This study examines the determinants of individual investors’ stock investment decisions, with a focus on psychological and demographic characteristics. Building on this model, based on prospect theory, the theory of planned behavior, and the life-cycle hypothesis,the study investigates the influence of five main determinants: attitude towards investment, risk tolerance, broker advice, herding behavior, and concern for Environmental, Social, and Governance (ESG) issues. It also examines how age moderates the relationshipbetween risk tolerance and investment decisions. The authors collected data from 259 individual investors using a structured questionnaire and analysed data through PLS-SEM. The results indicate that attitudes towards investment, risk tolerance, broker advice, andESG concerns are positively related to the investment decision, with attitudes being the most crucial drivers. In contrast, the effect of herding behavior was insignificant. The findings also support the critical role of age in moderating negatively the effects of risktolerance on investment decisions, such that this influence is attenuated among elderly risktakers. These findings highlight the vital roles of psychological and informational factors, illustrating how these relationships are influenced by demographic context. The studycontributes to the literature by incorporating psychological, social, and sustainability factors into a comprehensive model of investor behaviour and proposes implications for financial advisors, policymakers, and educators seeking to boost market participation andresponsible investing.

Druh

D - Stať ve sborníku

CEP obor

—

OECD FORD obor

50201 - Economic Theory

Projekt

—

Návaznosti

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Rok uplatnění

2025

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

The 8th International Conference on Finance, Accounting and Auditing

ISBN

978-632-615-179-4

ISSN

—

e-ISSN

—

Počet stran výsledku

24

Strana od-do

2689-2712

Název nakladatele

NATIONAL ECONOMICS UNIVERSITY PUBLISHING HOUSE

Místo vydání

Hanoi

Místo konání akce

Hanoj

Datum konání akce

13. 12. 2025

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

—