Perception towards government advisory, perceived risk and willingness to invest in cryptocurrency

IF 3.3 Q1 BUSINESS, FINANCE

JOURNAL OF ECONOMICS AND BUSINESS Pub Date : 2024-08-28 DOI:10.1016/j.jeconbus.2024.106208

Shaista Wasiuzzaman, Ak Md Saiful Luqman Pg Hj Ahmad

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Abstract

The aim of this study is to investigate the link between investor perception regarding government advisories on cryptocurrencies, their perceived risk of cryptocurrencies and their willingness to invest in cryptocurrencies. The link is examined via Partial Least Squares-Structural Equation Modelling (PLS-SEM) using 212 responses gathered from a survey questionnaire distributed to groups related to cryptocurrency investment in social media platforms over a period of around four months. It is found that the investor’s perception regarding government advisories on cryptocurrencies, which are cautionary in nature, have a significant negative impact on their perception of the risk of cryptocurrencies. Perception regarding government advisories reduces the willingness to invest in cryptocurrencies. However, it is also found that perceived risk does not have any significant influence on the willingness to invest in cryptocurrencies, indicating that although risk perception is heightened as a result of the cautionary government advise, this does not result in a significant reduction in the willingness to invest in cryptocurrencies. Hence, perceived risk does not play a significant mediating role in influencing the effect government advisories have on the willingness to invest in cryptocurrencies.

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对政府咨询的看法、认知风险和投资加密货币的意愿

本研究旨在调查投资者对政府有关加密货币的建议的看法、他们对加密货币的风险认知以及他们投资加密货币的意愿之间的联系。我们通过偏最小二乘法-结构方程建模（PLS-SEM），利用在社交媒体平台上向加密货币投资相关群体发放的调查问卷中收集到的 212 份回复，历时约四个月，对两者之间的联系进行了研究。结果发现，投资者对政府关于加密货币的警告性建议的认知，对他们对加密货币风险的认知有显著的负面影响。对政府建议的认知降低了投资加密货币的意愿。然而，研究还发现，风险感知对投资加密货币的意愿没有任何显著影响，这表明尽管政府的警示性建议会提高风险感知，但这并不会导致投资加密货币的意愿显著下降。因此，在影响政府建议对加密货币投资意愿的影响方面，风险感知并没有发挥重要的中介作用。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

JOURNAL OF ECONOMICS AND BUSINESS BUSINESS, FINANCE-

CiteScore

6.20

自引率

2.60%

发文量

期刊介绍： Journal of Economics and Business: Studies in Corporate and Financial Behavior. The Journal publishes high quality research papers in all fields of finance and in closely related fields of economics. The Journal is interested in both theoretical and applied research with an emphasis on topics in corporate finance, financial markets and institutions, and investments. Research in real estate, insurance, monetary theory and policy, and industrial organization is also welcomed. Papers that deal with the relation between the financial structure of firms and the industrial structure of the product market are especially encouraged.