期刊名称：Sustainable Business and Society in Emerging Economies
印刷版ISSN：2708-2504
电子版ISSN：2708-2172
出版年度：2021
卷号：3
期号：3
DOI：10.26710/sbsee.v3i3.1945
语种：English
出版社：CSRC Publishing
摘要：Purpose: The aim of this study is to investigate factors that influence investment in mutual funds by individual investors in a developing economy. Drawing insights from the theory of planned behaviour, the study identified and tested the effect of awareness, attitude, financial literacy and preference for other competing investments on intention to invest in mutual funds by individual investors. Design/Methodology/Approach: Data was collected from 280 respondents in Zambia. Data was analysed using correlations and hierarchical regression models. Findings: The study reveals that awareness and attitude towards mutual funds significantly influence intention to invest in mutual funds. Surprisingly, financial literacy and preference for other investments do not significantly affect an individual investor’s intention to invest in mutual funds. Implications/Originality/Value: This study contributes to the financial services marketing literature by increasing understanding of individual investors’ investment decisions and drivers that influence intention to invest in mutual funds in Zambia. The study recommends that mutual funds marketers should invest more in building awareness and positive attitude towards investment in mutual funds in order to develop retail demand. Also, investment companies and financial services marketing policy makers should carefully consider their financial literacy programmes as the study reveals that financial literacy and competing investments are not significant drivers.
