| dc.description.abstract | In the process of making decisions, investors are accidentally affected by psychological factors. Therefore, a new branch of finance - behavioral finance has born and analytical these psychological deeply to explain unusual actions of individual investors in stock market that help investors avoid wrong decisions caused bad effect to the investment performance.
This is limited studies about behavioral finance of university student investors - the young generation in stock market. The purpose of this study is to identify all behavior factors affecting investment decision making of university student in Ho Chi Minh city as well as its impact on investment results. To build up hypotheses, the research starts with existing theories in behavioral finance. Afterwards, these hypotheses are examined through the survey of 326 individual university student investors who are trading at Vietnam stock exchange. Exploratory Factor Analysis (EFA), Confirmatory Factor Analysis (CFA) and Structural Equation (SEM) are three main analytical methods.
Research results show that Heuristic, Market, Herding & Prospect factor extremely influence investment decision as well as investment performance of university traders. Besides, in contrast with other variables, prospect variable has negative influence on their performance. Based on results, many appropriate recommendations are made to help university student investors avoid wrong decisions hence can increase their performance efficiency. | en_US |
