A two-country study on the psychological antecedents to cryptocurrency investment decision-making
Year: 2022
Type: article
Study design: Observational Study
Abstract: This study seeks to investigate the psychological antecedents toward cryptocurrency investment decision-making. Using extended planned behavior model, data were collected from 517 sample respondents in Kenya and Ghana to test the proposed model. Specifically, we find that skepticism undermines willingness to invest in cryptocurrency via attitude toward cryptocurrency across the two countries studied. We also find that subjective norm and perceived self-efficacy positively influence attitude toward cryptocurrency that, in turn, positively influences willingness to invest in cryptocurrency. The positive relationship between trust disposition and attitude toward cryptocurrency and in turn willingness to invest in cryptocurrency is statistically valid in Kenya but not in Ghana. Contrary to expectations, no negative statistical effect of risk disposition on attitude toward cryptocurrency was found in the Kenya and Ghana sample. Overall, the presented findings in this study enrich empirical understanding about the psychological factors influencing attitude and individuals’ intentions to invest in cryptocurrencies such as Bitcoin and Litecoin.
Institutions: South Ural State University, International University of Rabat, University of Pretoria, University of Westminster, Durban University of Technology, Dominion University College, University of Sharjah, Universiti Sains Malaysia, Minjiang University, Universiti Malaysia Sarawak, Universiti Tunku Abdul Rahman Sungai Long Campus, Sunway University, Universiti Tunku Abdul Rahman
Language: English
Subfield: Information Systems and Management
Field: Decision Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W4309759290