Citation

Sukumaran, Shangeetha and Thai, Siew Bee and Wasiuzzaman, Shaista (2023) Adoption of Cryptocurrency Investment: Malaysian Context. In: International Conference on Business and Technology, ICBT 2022, 23-24 March 2022, Manama, Bahrain.

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Abstract

The adoption of cryptocurrency in Malaysia in general, as well as by investors, is still in its early adopter phase. Malaysia’s 12th Plan has highlighted the importance of digitalization adoption as Malaysia aspires to be the ASEAN leader in digitalization. Due to the increasing relevance and popularity of cryptocurrencies around the world, it is vital to investigate the factors that influence Malaysian investors’ desire to invest in them. The purpose of this study is to determine the factors that drive cryptocurrency investment among Malaysian retail investors. The research model integrates diffusion of innovation factors (compatibility, relative advantage, trialability, ease of use (complexity), and observability) and consumer behavior theory, focusing on the perception of retail investors (perceived risk and perceived value). Demographic factors are also included as control variables to understand retail investors’ decisions to invest in cryptocurrencies. This research was conducted using a quantitative approach, and a total of 304 Malaysian retail investors were collected using respondent-driven sampling. The collected data was analysed using Smart PLS Structural Equation Modelling (PLS-SEM). The findings indicate compatibility, trialability, ease of use (complexity), observability, and perceived value have an influence on the intention to invest in cryptocurrency. Meanwhile, relative advantage and perceived risk are not supported. Control variables are also found to be insignificant. This research is vital for analysing and gaining an insight into Malaysian retail investors’ underlying motives for cryptocurrency investment, which will aid in the formulation of a regulatory framework.

Item Type:	Conference or Workshop Item (Paper)
Uncontrolled Keywords:	Retail investors, Cryptocurrency, Investment
Subjects:	H Social Sciences > HD Industries. Land use. Labor > HD28-70 Management. Industrial Management > HD39-40.7 Capital. Capital investments
Divisions:	Faculty of Management (FOM)
Depositing User:	Ms Nurul Iqtiani Ahmad
Date Deposited:	05 Aug 2022 06:49
Last Modified:	30 Jan 2023 06:18
URII:	http://shdl.mmu.edu.my/id/eprint/10313

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