Determinants of Investment Decision Making among Malaysians during COVID-19 Pandemic

Lee Xue Qing, Melissa Teoh Teng Tenk and Lee Teck Heang
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Lee Xue Qing: HELP University, Malaysia
Melissa Teoh Teng Tenk: HELP University, Malaysia
Lee Teck Heang: HELP University, Malaysia

International Journal of Research and Innovation in Social Science, 2021, vol. 5, issue 7, 52-62

Abstract: Previous studies show that people tend to be irrational when making investment decisions. In addition, the impact of the COVID-19 pandemic on the global economy has been substantial and investment decision making during this period would be diverse. This research attempts to identify the determinants of investment decisions in Malaysia during the COVID-19 pandemic based on behaviour finance attributes, specifically the self-control, loss aversion, anchoring and herding. This research adopts a mixed method design. The quantitative research uses questionnaire survey to analyse the results of 213 respondents in Malaysia, whilst in the quantitative research, interviews are used to identify the responses of 10 interviewees. The results show that loss aversion and anchoring have significant influence on the investment decisions of Malaysians, while self-control and herding have no significant influence on the investment decisions of Malaysians during the current pandemic. Thestudy provides an insight on Malaysians’ investment decision making in relation to the concept of behavioural finance during the COVID-19 pandemic and economy turmoil, which contributes positively to the national economy.

Date: 2021
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