A Study of investor behavior in purchasing financial assets
This study investigated whether the process of purchasing financial assets follows a rational decision-making process using Engel-Blackwell-Miniard (EBM) model. The method of investigation was a questionnaire survey of Malaysian individual investors. The sample consisted of 223 responses collecte...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Penerbit Universiti Kebangsaan Malaysia
2014
|
| Online Access: | http://journalarticle.ukm.my/7805/ http://journalarticle.ukm.my/7805/1/00000004.PDF |
| _version_ | 1848811595594989568 |
|---|---|
| author | Ruhani Ali, Jiang, Haibing |
| author_facet | Ruhani Ali, Jiang, Haibing |
| author_sort | Ruhani Ali, |
| building | UKM Institutional Repository |
| collection | Online Access |
| description | This study investigated whether the process of purchasing financial assets follows a rational
decision-making process using Engel-Blackwell-Miniard (EBM) model. The method of
investigation was a questionnaire survey of Malaysian individual investors. The sample
consisted of 223 responses collected through convenience sampling and online survey.
The data was analyzed using factor analysis, reliability analysis, path analysis, and
multivariate analysis of variance. The results show that investors' decision-making process
of purchasing financial assets is in line with a rational decision-making process in EBM
Model. However, the tendency for irrational investment behaviors also exists at the same
time. The findings imply that irrational investment behaviors may still occur even though
the decision-making process is rational. We also found significant differences in the
tendencies for herding, disposition effect and over-confidence based on gender and age. |
| first_indexed | 2025-11-14T23:48:54Z |
| format | Article |
| id | oai:generic.eprints.org:7805 |
| institution | Universiti Kebangasaan Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T23:48:54Z |
| publishDate | 2014 |
| publisher | Penerbit Universiti Kebangsaan Malaysia |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | oai:generic.eprints.org:78052016-12-14T06:45:15Z http://journalarticle.ukm.my/7805/ A Study of investor behavior in purchasing financial assets Ruhani Ali, Jiang, Haibing This study investigated whether the process of purchasing financial assets follows a rational decision-making process using Engel-Blackwell-Miniard (EBM) model. The method of investigation was a questionnaire survey of Malaysian individual investors. The sample consisted of 223 responses collected through convenience sampling and online survey. The data was analyzed using factor analysis, reliability analysis, path analysis, and multivariate analysis of variance. The results show that investors' decision-making process of purchasing financial assets is in line with a rational decision-making process in EBM Model. However, the tendency for irrational investment behaviors also exists at the same time. The findings imply that irrational investment behaviors may still occur even though the decision-making process is rational. We also found significant differences in the tendencies for herding, disposition effect and over-confidence based on gender and age. Penerbit Universiti Kebangsaan Malaysia 2014 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/7805/1/00000004.PDF Ruhani Ali, and Jiang, Haibing (2014) A Study of investor behavior in purchasing financial assets. Journal of Finance & Financial Services, 1 (1). pp. 55-70. ISSN 2289-6597 - |
| spellingShingle | Ruhani Ali, Jiang, Haibing A Study of investor behavior in purchasing financial assets |
| title | A Study of investor behavior in purchasing financial assets |
| title_full | A Study of investor behavior in purchasing financial assets |
| title_fullStr | A Study of investor behavior in purchasing financial assets |
| title_full_unstemmed | A Study of investor behavior in purchasing financial assets |
| title_short | A Study of investor behavior in purchasing financial assets |
| title_sort | study of investor behavior in purchasing financial assets |
| url | http://journalarticle.ukm.my/7805/ http://journalarticle.ukm.my/7805/ http://journalarticle.ukm.my/7805/1/00000004.PDF |