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ABSTRACT
An investor's attitude and knowledge may be considered determinants of a robust stock market investment. This study identified the different factors that could influence the stock market investing of 384 Filipino tertiary students within the National Capital Region (NCR), following the theory of planned behavior, financial literacy theory, and risk perception theory. Data collated from an online survey were subjected to Pearson Correlation and Stepwise Regression analyses, which showed that money attitude, financial knowledge, risk attitude, and stock market investing have significant relationships, while the latter variable, stock market investing, is positively affected by financial knowledge, but not by money attitude and risk attitude. Contributing to the field of theory on the variables that may impact stock investing, this study adds to the extant literature on this topic. Furthermore, the findings of the research would be valuable to tertiary students in that they would be able to understand their own views regarding the stock market and devise effective techniques to increase the stock market participation rate.
Keywords: Stock Market, Money Attitudes, Risk Attitudes, Financial Knowledge.
1. INTRODUCTION
The emerging role of the stock market has become vital in the aspect of the financial sector in advancing economic growth performance. Several studies argue that a matured and operational stock market strengthens accumulation of capital and establishes an effective resource distribution within a country thereby maximizing productivity to progress and expand. From the perspective of the firms, large corporations were able to raise capital for their development and expansion through the stock market. Meanwhile, for individual investors, the stock market provides various opportunities through different types of securities which shapes investment into more beneficial assets (Ahinful et al., 2021). Nowadays, individuals have become more engaged with stock investing through new financial products and services. Studies have found that the rise of the pandemic has brought with it a newfound interest among the Filipino people. As per the Philippine Stock Exchange (PSE) data showed that the average daily number of trades in 2020 soared 33.7% (Dumlao-Abadilla, 2021). Said author also said that a survey conducted by the PSE revealed that 1.27 percent of the total population of the Philippines is considered active in investing in the stock market, which may be considered a small fraction, but...