Benefits of Investment in Indonesian Stock Market: An Empirical Research using Theory of Planned Behavior Lens

Abstract

The objective of current research is to measure the correlation between attitude towards investment, subjective norms, perceived behavior control, investment behavior and mutual funds. A Likert scale questionnaire was used and response from 1357 individuals was collected. Smart PLS was used for measurement model assessment and structural model assessment. The correlation between attitude towards investment, subjective norms, perceived behavior control, investment behavior and mutual funds was found significant. Theory of planned behavior was considered significant for mutual funds and investment behavior improvement. The study provides practical recommendations based on the findings.