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18/10/2020 10:18:21 AM

HYPOTHESES AND RESEARCH PROCESS ABOUT THE FACTORS AFFECTING THE BEHAVIOR OF CHOOSING SECURITIES COMPANY BY INDIVIDUAL INVESTORS AT FPT-DA NANG SECURITIES JOINT STOCK COMPANY-P2

Hypothesis H4: Group of costs factor has a positive influence on customers' securities company selection behavior.

This factor was selected from two studies by Nguyen Hoang Giang (2016), Siddique (2012).

Cost factors are measured by the following factors:

  1. Low transaction fee
  2. Low deposit interest rate
  3. The interest rate for cash advance is low
  • Influence of relatives factor:

Affection of relatives is related to the general pressure of relatives to make an investment. In the field of securities, the influences of acquaintances have an impact in the period before deciding to choose a company; and the influence of acquaintances will help customers decide in the selection of securities companies to invest. This shows that when selecting securities companies, Influence factors are also very important in making customers' securities company choices. So in this research topic, the factor influencing relatives is an indispensable factor in the selection of securities companies by individual investors, leading to the following hypothesis to be established:

Hypothesis H5: Group of influence of relatives factor has a positive influence on customers' securities company selection behavior.

This factor was selected from 4 research projects of master Nguyen Kim Nam and master Tran Thi Tuyet Van (2015), Pham Thi Tam and Pham Ngoc Thuy (2010), Hoang Thi Anh Thu (2016), Nguyen Hoang Giang (2016).

Factors influencing relatives are measured by the following factors:

  1. Recommendations and influences from friends
  2. Recommendations and influences from the family
  3. Recommendations and influences from colleagues

2. Research Process

For the research process, the research is done in two steps:

Step 1: Preliminary research:

Qualitative research is done through double-hand discussion techniques. Preliminary quantitative research was conducted with samples of n = 30.

Qualitative method to find new factors or remove factors that the author has built in the proposed research model that customers think it affects the selection of securities companies to complete the scale , questionnaires and interviews.

Step 2: Formal research:

This step is done by quantitative research method. Complete questionnaires are designed with Likert scale. After adjusting the questionnaire from the analysis results in the preliminary study, the author conducted an extensive investigation with n = 300 customers to collect the opinions of customers on the important level of the factors affecting the securities company selection behavior of individual investors.           

The purpose of this study is to affirm the groups of factors that affect the behavior of securities companies through:

•           Evaluate the reliability of the scale with the reliability of the alpha coefficient of Cronbach to check the relationship between questions in the same structure.

•           Analysis of factors to minimize EFA and summary data to include in the multivariate analysis process by examining scale compatibility with observed observed variables of KMO value.

•           Correlation analysis to determine the correlation relationship between independent and dependent variables.

•           Regression analysis and conformity testing of the model, to identify factors affecting employees' motivation to work.

Nguyen Thi My My

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