A Structural Relationship Model among Perceived Risk, Perceived Benefit, and Investor Trust Affecting Investment Intentions of Generation Y Investors
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Abstract
This research aims to develop a structural relationship model of perceived risk, perceived benefit, and investor trust affecting investment intentions of Generation Y investors in Bangkok. The study adopts a quantitative research approach, using a questionnaire as the primary data collection tool. The sample consists of 155 participants selected through convenience sampling. The participants are investors in equity assets traded on the Stock Exchange of Thailand (SET), aged between 23 and 45 years, or born between 1977 and 1999. The data were analyzed using descriptive statistics, including frequency, percentage, confirmatory factor analysis (CFA), and structural equation modeling (SEM).
The research findings indicate that the developed causal relationship model aligns well with the empirical data, as evidenced by the following fit indices: χ2 = 9.679, p-value = 0.88, χ2/df = 1.210, CFI = 0.999, GFI = 0.989, AGFI = 0.910, and RMSEA = 0.037. The study revealed that both perceived risk and perceived benefits have a positive indirect relationship with investment intentions of Generation Y investors, with investor trust serving as a mediating variable. These findings can be applied to the development of transparent communication strategies regarding risks and benefits, the enhancement of trust in investment systems, and investor education initiatives, thereby effectively promoting investment intentions among Generation Y investors.
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