Role of psychological factors and awareness on the intention to invest With Emphasis on the mediate role of perceived risk of Customers of Investment Services

Subject Areas : Financial Knowledge of Securities Analysis

Amir Reza Konjkave Monfared1 ¹ , Saeid Fathi ² , Bahram Ranjbarian ³

1 - دانشجوی دکتری بازاریابی دانشگاه اصفهان، دانشکده علوم اداری و اقتصاد
2 - دانشیار و عضو هیئت علمی دانشگاه اصفهان، دانشکده علوم اداری و اقتصاد
3 - استاد و عضو هیئت علمی دانشگاه اصفهان، دانشکده علوم اداری و اقتصاد

Received: 2015-01-05 Accepted : 2015-04-04 Published : 2016-08-05

Keywords: Perceived Risk, investment, self-efficacy, Risk Propensity,

Abstract :

Perception of risk is of paramount importance in decision-making process as it can alter rational decision-making pertaining to product and service choice. Indeed, Perceived risk is regarded as one of the most crucial factors for understanding consumer behavior. So, it is necessary developing a perceived risk model for natural customers of investment services market. The purpose of this study is to determine the antecedences and consequences of perceived investment risk. This study is a development-applied and descriptive survey. Statistical populations are customers of Yazd brokerage. In this research, questionnaires and interviews have been used for data collection. Also, structural equation modeling and path analysis have been used for data analyzing. The results show that risk propensity, trust, self-efficiency and awareness have a significant effect on investors' perceived risk. In this context, results show that knowledge and awareness of investors has the most effect on their perceived risk. In addition to, perceived risk has a significant effect attitude and intention to invest.

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