FACTORS DETERMINING CHINESE’S INVESTMENT DECISION IN THE BEIJING STOCK EXCHANGE IN CHINA

บทคัดย่อ

The Beijing Stock Exchange is a major financial market in China, yet little is known about the factors that impact Chinese investors' investing decisions. Investigating these aspects can provide regulators and investors with insights into how to increase market efficiency, attract more investors, and reduce investment risks. This study aimed to study 1) the demographic factors affecting investment decisions in the Beijing Stock Exchange of people in China, 2) the investment behaviour of investors in the Beijing Stock Exchange, and 3) factors determining an investment decision in the Beijing Stock Exchange of people in China. The sample used in this study was 385 working-age investors who invested in the Beijing Stock Exchange using Yamane's (1973) formula for calculation and sampling using convenience sampling methods with the use of questionnaires as a tool to collect the required amount of data. Statistics used in data analysis were frequency, percentage, mean, standard deviation, t-test, F-test, and multiple regression analysis. The findings revealed that 1) different demographic factors, including gender, age, and average monthly income, influenced investment decisions in the Beijing Stock Exchange differently; 2) different investment behaviour, including the type of securities, invested, the reason for investment, investment period, and times of monthly stock trading, influenced investment decisions in the Beijing Stock Exchange differently; and 3) factors influencing investment decisions in the Beijing Stock Exchange differently. Thus, companies must give consistent and suitable information for differences in economic circumstances and investor behaviour to attract and inform investors about an investment. In addition, programs or techniques should help investors to gain knowledge and confidence while making investment decisions based on the previously listed factors.