Driving Forces of Individual Investors in Stock Market Participation
Bibliographic record
Abstract
The purpose of this study is to estimate the impact of sociocultural factors on investors' behavior in the South Pacific Stock Market (SPX) participation in Fiji using a novel methodological framework. We constructed a higher order factor: individual investors' willingness to participate in the SPX by confirming second-order Factor Structure and Overall Model Fit of the underpinning socioeconomic, cultural and psychic motivating factors thereof. The theoretical framework is primarily based on the Theory of Planned Behavior (TPB). Four dimensions were hypothesized: Attitudes, Perceived Power, Social Norms, and Financial Knowledge, and showed significant and substantial loadings towards the investment willingness, with an acceptable model fit. The results confirm that four hypothesized dimensions are identifiable and distinct aspects; Social Norms dimension showed significant positive association ( =.159, p <.05) while, more importantly, the Perceived Power dimension showed a highly significant negative association ( = -0.246, p <.01) with investment activities of the participants. These findings may be useful in designing policies and strategies for stimulating the financial market in Fiji, especially, the SPX.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.000 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".