Contextualizing Innovation Investor Behaviour Through Structural Simulation Modelling of Influential Factors

Investor behaviour remains a complex and multifaceted phenomenon that, despite its significance, remains insufficiently explored in the context of investment decision-making concerning financial products because of the interplay of numerous influencing factors. This study aims to examine the interconnections between self-efficacy, self-determination, and intrinsic motivation among individual investors; to delineate the relationships between intrinsic and extrinsic motivation, investor attitudes, perceived risk, and loyalty; and to develop a conceptual model that synthesizes these relationships. The research methodology is based on interpretive structural modelling (ISM), ensuring a systematic exploration of factor interdependencies. The robustness of the findings is ensured through an extensive review of relevant scientific literature, the application of logical analytical methods, a structured approach to data analysis and synthesis, expert evaluations, and iterative integration of identified factors within the ISM framework. The decision-making process regarding investment in financial products is contingent upon the dynamic interrelation of these factors. The key finding of this study is that an acceptable level of risk serves as a fundamental determinant of both financial product efficiency and investor self-determination, thereby fostering the development of both intrinsic and extrinsic motivation. Furthermore, investor motivation is identified as a crucial driver of loyalty, mediated by investor attitudes toward financial products. The scientific contribution of this research lies in the identification and structural analysis of interdependencies among self-efficacy, self-determination, intrinsic and extrinsic motivation, investor attitudes, perceived risk, and loyalty toward financial products. These insights are critical for the formulation of effective marketing strategies tailored to financial products. Moreover, the social relevance of this study is underscored by the role of "service loyalty" in the broader economic context, particularly in mitigating macroeconomic instability. Consequently, the findings hold substantial theoretical and practical implications, offering valuable insights for financial industry practitioners, marketing strategists, and developers of financial products by elucidating the mechanisms underlying investor decision-making processes.