Investment decision-making behaviors among millennial bank employees during the pandemic: Antecedents and outcomes

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ID: 287672
2025
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Abstract
This study examines how millennial bank employees in the Philippines navigated investment decisions during the COVID-19 pandemic, applying behavioral finance to assess personal traits, pandemic anxiety, and investment perceptions. A cross-sectional survey of 306 participants showed demographic factors (age, gender, financial literacy) and psychological variables (economic/health anxiety, risk perceptions) shaped investment behaviors (choice, amount, frequency, horizon). Findings revealed a “barbell strategy”: cash reserves (64.1%), bonds (68.6%), and alternative investments (86.3%). High financial literacy (M = 5.97/7) predicted longer horizons (β = 0.323, p = 0.001), while perceived risk drove riskier stocks (β = 0.273, p = 0.001), aligning with prospect theory’s loss-domain risk-seeking. Financial anxiety reduced investment amounts (β = -0.050, p = 0.023) but increased monitoring (β = 0.045, p = 0.048); health anxiety spurred risk-taking (β = 0.069, p = 0.004). Moderate asset exposure optimized satisfaction (M = 64.98). This study advances behavioral finance by showing crisis-driven biases persist among experts, advocating hybrid financial products and policies addressing psychosocial stressors to enhance resilience in emerging markets.
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persistent_1760662311_68f19327955d0 Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Cheng, Alvin Nelson O.
Journal Malay Journal
Year 2025
DOI
DOI not found
URL
https://animorepository.dlsu.edu.ph/etdm_behsc/18
Keywords Keywords not found

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