From propensity to action: exploring gender and cognitive influences on Informal Investment Intentions

Abstract

Abstract This study explores the factors influencing Informal Investment Intentions among potential investors, focusing on Risk Propensity and Subjective Norms. It examines the mediating effect of Entrepreneurial Alertness and the moderating role of gender, aiming to understand how these elements shape investment decisions among management students in India. A survey-based cross-sectional research design is followed to evaluate a 340 cross-sectional sample. Global Entrepreneurship Monitor (GEM) database, SEM, and the PROCESS macro have been utilized to understand the synchronization between the variables. CFA, RMSEA, GFI, and TLI tests are employed to check the fitness and validity of the model, and CMB, together with PFA, have been applied for variance testing. The study found that Subjective Norms significantly influence Informal Investment Intentions, mediated by Entrepreneurial Alertness. Gender exuberates the relationship between Risk Propensity and Informal Investment Intentions through Self-Efficacy, with stronger effects observed among male students. Findings offer insights for policymakers and educators to design interventions fostering Informal Investment Intentions by enhancing Entrepreneurial Alertness and addressing gender-specific differences, particularly among management students. This study adds to the literature by examining gender's moderating role in the relationship between Risk Propensity and Informal Investment Intentions, providing a nuanced understanding of informal investment behavior in an Indian context.

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