Title: Investor intentions of stock market participation in India: an extended TPB model

Authors: Anubhuti Dwivedi; Maroof Ahmad Mir

Addresses: Asian Business School, Noida, Plot A-2, Sector 125, Noida, India ' Asian Business School, Noida, Plot A-2, Sector 125, Noida, India

Abstract: Emerging economies like India exhibit low rates of stock market participation despite high rates of growth in income. This paper aims at analysing the attitudinal, social and behavioural control factors influencing the investor intentions of stock market participation using constructs from an extended model of theory of planned behaviour. Attitude and perceived behavioural control are found to be significantly related to motivational intention but subjective norm is not significantly related to motivational intention of investors to participate in stock market. Finally, motivational intention has a significant influence on implementation intention which in turn has positive influence on actual participation in stock market.

Keywords: stock market participation; investor intentions; theory of planned behaviour; behavioural intention; implementation intention.

DOI: 10.1504/IJBG.2024.140578

International Journal of Business and Globalisation, 2024 Vol.38 No.1, pp.1 - 14

Received: 27 Feb 2020
Accepted: 16 Oct 2020
Published online: 28 Aug 2024 *

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