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

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 < .001). The SDT constructs had moderately high means and positive intercorrelations (r = 0.68-0.73), describing a motivational profile rather than a tested contribution to intention. The two-item subjective norm measure showed modest reliability (Cronbach's α = 0.584), requiring caution in interpreting its coefficient. Demographic characteristics were available for 310 respondents because institutional permissions differed, limiting assessment of the representativeness of the full analytical sample. No SDT-to-intention paths or incremental effects beyond TPB were estimated; thus, the proposed TPB-SDT integration is theoretical and interpretive, not a statistically validated joint model. The study contributes a transparent distinction between proximal TPB predictors and complementary SDT-related motivational experiences in university investment learning, while identifying the need for future joint predictive and longitudinal tests.

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Publication Details

Journal
Acta Psychologica
Published
2026-10-27
DOI
https://doi.org/10.1016/j.actpsy.2026.108053
Primary Topic
Financial Literacy, Pension, Retirement Analysis
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article
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article

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

Adibi M. Nor, Kenny Cheah Soon Lee, Hong Kuan Cheng, Serrene Leong
Acta Psychologica
Financial Literacy, Pension, Retirement Analysis
article

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

Adibi M. Nor, Kenny Cheah Soon Lee, Hong Kuan Cheng, Serrene Leong
article en

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 < .001). The SDT constructs had moderately high means and positive intercorrelations (r = 0.68-0.73), describing a motivational profile rather than a tested contribution to intention. The two-item subjective norm measure showed modest reliability (Cronbach's α = 0.584), requiring caution in interpreting its coefficient. Demographic characteristics were available for 310 respondents because institutional permissions differed, limiting assessment of the representativeness of the full analytical sample. No SDT-to-intention paths or incremental effects beyond TPB were estimated; thus, the proposed TPB-SDT integration is theoretical and interpretive, not a statistically validated joint model. The study contributes a transparent distinction between proximal TPB predictors and complementary SDT-related motivational experiences in university investment learning, while identifying the need for future joint predictive and longitudinal tests.

Acta PsychologicaVol. 271
University of Malaya (MY)
Openalex Percentile: Top 4%
Financial Literacy, Pension, Retirement Analysis
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Predicting university students' intention to apply investment strategies: Integrating theory of planned behavior and self-determination theory — Adibi M. Nor, Kenny Cheah Soon Lee, et al. · Acta Psychologica (2026) | TGRS Research Map | TGRS