Study on Investment Intention and Investment Behavior of “Regular Fixed Investment in Stocks and ETFs” Based onWe the Theory of Planned Behavior

• Main Authors: HUANG, YUN-WEN, 黃筠文
• Other Authors: HSIAO, TA-CHENG
• Format: Others
• Language: zh-TW
• Published: 2018
• Online Access: http://ndltd.ncl.edu.tw/handle/jt9bz2

碩士 === 國立高雄應用科技大學 === 財富與稅務管理系碩士在職專班 === 106 === In 2016, “Analysis of Investors’ Stock Exchange” found that the proportion of natural persons aged 20 to 30 accounted for only 4.5% of the trading volume, and that of natural persons over 50 accounted for more than 50%. Young people are less willing to buy stocks and the stock market is on the verge of aging. The Taiwan Stock Exchange promotes investors to invest in stocks and ETFs on the regular and fixed basis since January 2017. This is the pioneering investment method in the whole world. Therefore, taking the “Theory of Planned Behavior” as the theoretical basis, this study conducted the consumer questionnaire survey on factors that influence behaviors and intentions, namely, investment attitudes, subjective norms and perceptual behavior control, so as to explore the important decision-making factors that influence consumers’ investment intentions and investment behaviors of the “regular fixed investment in stocks and ETFs”. The research results show that: 3. Investment attitudes, subjective norms, and the perceptual behavior control all have positive and significant effects on behaviors and intentions, while investment intentions also have positive and significant effects on investment behaviors. 4. This study used the difference analysis to explore whether there are differences in the investment intentions and investment behaviors for consumers with different backgrounds. It is found through the research results that, among the different background variables, “gender”, “age”, “whether or not your parents have stock investment experience”, “personal average monthly earnings”, and “whether or not you have subscribed for shares” have the significant effect on consumers’ decision-making factors of investing in “regular fixed investment in stocks and ETFs”.