Title: Factors influencing investment in internet money market funds: an extended TPB with perceived risk and trust

Authors: Zhan Baihui; Ku Maisurah Ku Bahador; Rafeah Mat Saat

Addresses: Tunku Puteri Intan Safinaz School of Accountancy, Universiti Utara Malaysia (UUM), 06010, Sintok, Kedah Darul Aman, Malaysia ' Institute for Strategic and Sustainable Accounting Development (ISSAD), Tunku Puteri Intan Safinaz School of Accountancy, Universiti Utara Malaysia (UUM), 06010, Sintok, Kedah Darul Aman, Malaysia ' Accounting Information System Research and Development Institute (AISRED), Tunku Puteri Intan Safinaz School of Accountancy, Universiti Utara Malaysia (UUM), 06010, Sintok, Kedah Darul Aman, Malaysia

Abstract: The COVID-19 epidemic has led to the global financial crisis, and investors have turned to money market funds (MMFs) for safety. The development of internet finance has led to changes in China's financial environment. Internet money market funds (IMMFs) are favoured by more and more young investors because of their low-risk, high-liquidity operating model. Although low- and middle-income groups have a large amount of investable assets, these assets have not been effectively utilised due to the high investment threshold of traditional banks. This phenomenon highlights wealth inequality and the urgency of investment diversification. The research will analyse the factors that influence university students' investment intention in IMMFs based on the extended theory of planned behaviour (TPB).

Keywords: IMMFs; internet money market funds; MMFs; money market funds; TPB; theory of planned behaviour; perceived risk; trust; investment intention.

DOI: 10.1504/IJMEF.2025.150824

International Journal of Monetary Economics and Finance, 2025 Vol.18 No.6, pp.428 - 452

Received: 17 Aug 2024
Accepted: 29 Jun 2025
Published online: 23 Dec 2025 *

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