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Factor Affecting People Investing in Mutual Fund

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Factors affecting people investing in Mutual Fund in Malaysia: An application of the
Theory of Planned Behavior

Kuah Kean Lam

Research report in partial fulfillment of the requirements for the degree of MBA
2008

ACKNOWLEDGEMENTS

I would like to thank my supervisor, Dr. Nabsiah Abd. Wahid and my co-supervisor, Dr.
Datin Joriah for their invaluable guidance in helping me with this research. Special thanks also go to Associate Professor T. Ramayah for his kind assistance and consultants in my statistical analysis. My sincere thanks to all the lecturers in the MBA programs.

I also want to thank my family for their patience, support and encouragement during the period of my study. I am also grateful to my friends for their help and …show more content…

4

Implications

84

5.4.1

Theoretical Implication

84

5.4.2

Practical Implication

85

5.4.2.1 Marketing Strategy for Mutual Fund

85

5.5

Answering the Research Questions

87

5.6

Limitations

89

5.7

Future Research

90

5.8

Conclusion

90

REFERENCES

91

APPENDICES

97

vi

LIST OF TABLES

Page
Table 4.1

Respondents Demographic Profile

Table 4.2

Rotated Component Matrix for relative advantage,
Compatibility and ease of invest

Table 4.3

54

Rotated Component Matrix for efficacy and facilitating
Condition

Table 4.4

51

55

Rotated Component Matrix for Attitude, SN, PBC and
Past Behavior

56

Table 4.5

Reliability Coefficients of Variables

57

Table 4.6

Descriptive Statistics

59

Table 4.7

Pearson’s Correlation Analysis of Variable

61

Table 4.8

Result of Multiple Regression of H8, H9 and H10

63

Table 4.9

Result of Multiple Regression of H13

65

Table 4.10

Result of Multiple Regression of H11 and H12

67

Table 4.11

Result of Multiple Regression of H1, H2, H3 and H5

69

Table 4.12

Result of Multiple Regression of H4, H6 and H7

72

Table 4.13

Summary of Hypotheses Testing Results

73

vii

LIST OF FIGURES

Page
Figure 1.1

Total NAV vs Bursa Malaysia Market Capitalization as at 31st Dec 2006

6

Figure 2.1

Theory of Reasoned Action

24

Figure 2.2

Technology Acceptance Model

25

Figure 2.3

Theory of Planned Behavior

26

Figure 2.4

TPB with belief de-composition

29

Figure 2.5

Theoretical Framework

35

Figure 4.1

Stage 1a Multiple

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