The relationship between self-efficacy and self-investment behaviors. (2020)
Type of ContentElectronic Thesis or Dissertation
Degree NameMaster of Science
PublisherUniversity of Canterbury
AuthorsWang, Zichunshow all
Ever since the dawn of behavioral economics, researchers have paid attention to psychological factors to explain complicated economic behaviors. While a considerable body of research has mainly focused on financial investment behaviors, there is a lack of understanding of self-investment behaviors. The present study investigated not only the relationship between financial self-efficacy and five financial investment behaviors (savings, shares, properties, charities and student debts), but also the relationship between self-efficacy and five self-investment behaviors (beauty, hobbies, education, travelling and entertainment & socialization). The results showed that general self-efficacy is positively correlated with investment in shares, charities and negatively correlated with entertainment. Financial self-efficacy is correlated positively with investment in savings, student debt and negatively correlated with shares. Furthermore, whether people had a partner significantly influenced financial investment and self-investment percentage. A gender difference was found in saving behaviors and body/beauty investment. Findings extend prior research on investment behaviors with regard to financial investment and self-investment, and the role of self-efficacy and financial self-efficacy in investment behaviors generally.