CHARACTERIZING INVESTMENT BEHAVIOR AMONG BUSINESS STUDENTS IN SOUTHERN MINDANAO, PHILIPPINES
Abstract
The purpose of this study is to characterize the investment behaviors of college students taking Business-related programs in Mindanao, Philippines. This includes determining their awareness of investing and whether the identified measures of investment behavior would pose a likelihood of appropriate investment decisions. The study is a sequential-exploratory mixed method research design, implemented in three phases: qualitative approach in the first phase and quantitative approaches in the second (data reduction procedure) and third (regression procedure) phases. A total of 300 college students taking Business programs in the College of Business Administration Education and College of Accounting Education of the largest university in Mindanao, Philippines participated in the survey, where they were asked to respond to the 35-item financial behavior scale developed in the first phase. Exploratory factor analysis was able to trim the 35-item scale into 29 items which loaded in ten dimensions: information/random walk, negative investor mindset, expert influence, investor’s awareness, publicity, financial capacity, stock market orientation/literacy, risk appetite, interest, and venture capital. Regressing these ten dimensions with students’ demographic variables revealed that Business students are cautious in investments and rely on expert advice before proceeding to invest but at a later time. Implications are discussed.
JEL: E22; F21
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DOI: http://dx.doi.org/10.46827/ejefr.v6i3.1337
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