What influences the willingness of university students to invest in stocks?

Godfred Matthew Yaw Owusu, Fred Kwasi Anokye, James Kwame Otieku and Gabriel Sam Ahinful

International Journal of Education Economics and Development, 2021, vol. 12, issue 2, 116-135

Abstract: This study examines the attitudes of university students towards stock market investment and investigates the factors that influence their willingness to invest in stocks. A survey-based method of research was adopted and data was collected from 473 students from the University of Ghana Business School by means of a questionnaire. The partial least square structural equation modelling (PLS-SEM) technique was used to analyse the data. The results demonstrate that two dimensions of the money attitude construct: obsession and viewing of money as a good thing are important predictors of an individual's willingness to invest in stocks. The results also show that financial literacy, ethical stance towards stock market investment and financial risk attitude of an individual have important implications on willingness to invest in stocks. Given that stock market participation at the individual level is low in most countries, an understanding of the factors that influence individuals' decision to invest in stocks may be useful in developing the appropriate strategies to encourage people to invest in stocks.

Keywords: stock market; stock market investment; financial literacy; financial risk attitude; money attitudes; power; respect; ethics. (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=114366 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijeded:v:12:y:2021:i:2:p:116-135

Access Statistics for this article

More articles in International Journal of Education Economics and Development from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().