Factors Affecting Decision Making for Investing in the Super Saving Fund and Retirement Mutual Fund

Abstract

This article aimed to (1) study investigate the demographic characteristics, behavior, personal factors and cognitive factors affecting investment decisions in Super Saving Fund (SSF) and Retirement Mutual Fund (RMF), and (2) study the factors affecting the opportunity to make investment decisions in Super Saving Fund (SSF) and Retirement Mutual Fund (RMF) including motivation factors and investment objective factors. The results of the study indicated that most of the respondents were female, aged 30-39 years. Most had single status with the highest education as bachelor's degree or equivalent. Most of them were employees at private companies. The average monthly income was 20,001-40,000 baht and they had 1-5 years of mutual fund investment experience. The results of the opinion analysis in terms of motivation factors and objective factors as a whole were at the agree level. The result of investment decision in Super Saving Fund (SSF) found that the sample group chose to invest by 310 people, representing 76.73%; and 94 people chose not to invest representing 23.27%. The result of investment decision in Retirement Mutual Fund (RMF) found that the sample group chose to invest by 268 people representing 66.34%; and 136 people chose not to invest, representing 33.66%. The hypothesis testing was statistically consistent at the 0.05 level for all factors except Super Savings Fund (SSF) in terms of cognition and Retirement Mutual Fund (RMF) in terms of the experience of investing in mutual funds. The analysis of Binary Logistic Regression found that factors influencing the decision-making opportunity to invest in Savings Fund (SSF) and Retirement Mutual Fund (RMF) were the motivation factor and the investment objective factor.