Role of Personality Traits and Perceptive Factors in Determining Stock Market Investment Intentions

Abstract

The present study intends to comprehend the stock market investment intention among individuals. The purpose of the study is to assess the role of perceptive factors, including subjective norms, attitudes and perceived behavioural control, in relation to individual personalities and the theory of planned behaviour. In this regard, the study adopts a quantitative approach with the help of the PLS-SEM technique to predict relationships between variables. The responses were collected through a structured questionnaire from individuals with or without trading experience in the stock market. The key findings indicate a positive impact of perceptive factors on individual investment intentions. Furthermore, it was found that personality characteristics influence individual investment intentions, while gender and age moderately influence the relationship of intuitive factors and personality traits with investment intent. Overall, the study contributes to the individuals’ perception regarding Indian stock market investments. Hence, the findings are crucial for governments, investment businesses and financial intermediaries to propel stock market participation and investment.

Keywords

• personality traits
• big-five
• theory of planned behaviour
• investor behaviour
• stock market investment