Unveiling the digital desire: UTAUT analysis of NFT investment intentions in Malaysia

IF 9 1区 经济学 Q1 BUSINESS, FINANCE
Faezal Bin Ramly, Mohd Zaidi Md Zabri
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引用次数: 0

Abstract

Purpose

This study pioneers the investigation into the determinants influencing Malaysian investors' intentions towards Non-Fungible Token (NFT) investments, utilizing an extended Unified Theory of Acceptance and Use of Technology (UTAUT) framework. It explores the burgeoning interest in NFTs within the Malaysian market, an emerging economy, and identifies the behavioral adoption determinants critical for NFT investment decisions.

Design/methodology/approach

Adopting a quantitative methodology, the research engaged 183 experienced Malaysian investors through a structured online questionnaire survey. The study employed regression analysis to assess the impact of Performance Expectancy, Effort Expectancy, Social Influence, Facilitating Conditions, Perceived Usefulness, Social Support and Perceived Trust on NFT investment intentions.

Findings

The findings reveal that Performance Expectancy and Social Support significantly predict the intention to invest in NFTs, accounting for 47% of the variance in investment intentions. The study highlights the crucial role of perceived benefits and community support in shaping Malaysian investors' engagement with NFTs, amidst the complexities of the digital asset landscape.

Research limitations/implications

The study acknowledges the limitation posed by its sampling method and size, suggesting the need for broader investigations that include a more diverse demographic to enhance the generalizability of the findings. Future research could further delve into the specific behaviors, motivations and challenges of NFT investors and creators.

Practical implications

The significant predictive power of Performance Expectancy indicates a primary financial motivation among Malaysian NFT investors, suggesting policymakers consider regulations that foster innovation and growth in the NFT sector while safeguarding investors. The study also underscores the importance of community support, pointing towards the development of platforms that facilitate knowledge sharing among NFT enthusiasts.

Social implications

By demonstrating the pivotal role of social support in the NFT investment decision-making process, the research implies a powerful sense of community among investors in the digital asset space. It suggests the potential of NFTs to foster a more inclusive and accessible market for creative industry entrepreneurs, facilitating direct engagement and profit realization.

Originality/value

This research marks a significant departure from existing studies by tailoring the UTAUT model specifically to the NFT investment context in Malaysia. It unveils the nuanced dynamics influencing NFT investment intentions, emphasizing the unique contributions of Performance Expectancy and Social Support, thus providing a fresh perspective on NFT adoption in emerging markets.

揭开数字欲望的面纱:UTAUT 对马来西亚 NFT 投资意向的分析
目的 本研究利用扩展的 "技术接受和使用统一理论"(UTAUT)框架,率先调查了影响马来西亚投资者对非可纺代币(NFT)投资意向的决定因素。本研究采用定量方法,通过结构化在线问卷调查让 183 名经验丰富的马来西亚投资者参与其中。研究采用回归分析法评估绩效预期、努力预期、社会影响、便利条件、感知有用性、社会支持和感知信任对NFT投资意向的影响。研究结果研究结果显示,绩效预期和社会支持可显著预测NFT投资意向,占投资意向差异的47%。研究局限/启示该研究承认其抽样方法和规模带来的局限性,建议有必要进行更广泛的调查,包括更多样化的人群,以提高研究结果的普遍性。未来的研究可以进一步深入探讨NFT投资者和创造者的具体行为、动机和挑战。实际意义绩效预期的显著预测力表明,马来西亚NFT投资者的主要经济动机是绩效预期,建议政策制定者考虑制定法规,促进NFT行业的创新和发展,同时保护投资者的利益。这项研究还强调了社区支持的重要性,指出应开发促进 NFT 爱好者之间知识共享的平台。社会影响通过证明社会支持在 NFT 投资决策过程中的关键作用,这项研究暗示了数字资产领域投资者之间强大的社区意识。它表明,NFT 有潜力为创意产业创业者培育一个更具包容性和更容易进入的市场,促进直接参与和利润实现。原创性/价值本研究通过专门针对马来西亚 NFT 投资环境定制 UTAUT 模型,标志着与现有研究的重大差异。它揭示了影响非直接融资投资意向的微妙动态,强调了绩效预期和社会支持的独特贡献,从而为新兴市场采用非直接融资提供了一个全新的视角。
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来源期刊
CiteScore
12.40
自引率
1.20%
发文量
112
期刊介绍: China Finance Review International publishes original and high-quality theoretical and empirical articles focusing on financial and economic issues arising from China's reform, opening-up, economic development, and system transformation. The journal serves as a platform for exchange between Chinese finance scholars and international financial economists, covering a wide range of topics including monetary policy, banking, international trade and finance, corporate finance, asset pricing, market microstructure, corporate governance, incentive studies, fiscal policy, public management, and state-owned enterprise reform.
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