Factors Influencing Investment Behavior of Young Investors in Bangkok

Abstract

The objectives of this research were 1) to analyze the influence of financial knowledge and risk. perception, technological factors, and social factors on the investment behavior of young investors in Bangkok, and 2) to compare the levels of influence among these factor groups and identify the predictor with the strongest influence on investment behavior. The sample consisted of 446 young investors aged 20–35 years residing in Bangkok with at least 6 months of investment experience in securities or mutual funds, selected via convenience sampling. The research instrument was an online questionnaire. Data were analyzed using descriptive statistics, including frequencies, percentages, means, and standard deviations, as well as inferential statistics, specifically multiple linear regression, at a significance level of 0.05.

The research findings revealed that the overall levels of perception towardfinancial knowledge and risk perception, technological factors, social factors, and the participants' investment behavior were all at a high level across all dimensions. Hypothesis testing indicated that social factors were the only independent variable with a statistically significant positive influence on young investors' investment behavior at the 0.01 level (beta = 0.123, p = .009), with the influence of family and friends exhibiting the highest mean score. Conversely, financial knowledge and risk perception, along with technological factors, had no statistically significant influence on investment behavior. Overall, all independent variables in the model collectively explained 1.2% of the variance in the investment behavior of young investors. (Adjusted R² = .012).