Predicting university students' intention to apply investment strategies: Integrating theory of planned behavior and self-determination theory

Cheng HK 1 , Cheah KSL 2 , Leong S 3 , Md Nor ARB 4

Affiliations 

  • 1 Institute for Advanced Studies (IAS), University Malaya, Malaysia. Electronic address: 22118121@siswa.um.edu.my
  • 2 Department of Education Management, Planning and Policy, Faculty of Education, University Malaya, Malaysia. Electronic address: kennycheah@um.edu.my
  • 3 Department of Management & Marketing, Faculty of Business and Economics, University Malaya, Malaysia. Electronic address: serrene@um.edu.my
  • 4 Institute for Advanced Studies (IAS), University Malaya, Malaysia. Electronic address: adibi@um.edu.my
Acta Psychol (Amst), 2026 Oct 27;271:108053.
PMID: 42945734 DOI: 10.1016/j.actpsy.2026.108053

Abstract

Behavioral intention is central to investment-related decision making, but belief-based predictors and motivational need satisfaction should not be conflated. This quantitative cross-sectional study examined 512 undergraduate students in Jiangxi Province, China, drawing on the Theory of Planned Behavior (TPB) and Self-Determination Theory (SDT). Multiple regression tested attitudes, subjective norms, and perceived behavioral control as predictors of intention to apply investment strategies; descriptive statistics and correlations separately characterised autonomy, competence, and relatedness. The TPB model explained 55.2% of the variance in intention. All three TPB predictors were statistically significant, with perceived behavioral control having the largest unstandardized coefficient (B = 0.36, p 

* Title and MeSH Headings from MEDLINE®/PubMed®, a database of the U.S. National Library of Medicine.

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