Guidelines for Investment and the Decision to Invest in Stocks and Derivatives of Phu Hung Securities Corporation "PHS" in Vietnam

Abstract

           The objectives of this research were 1) to study the general condition of investment and the decision to invest in stocks and derivatives of investors, 2) to study the investment factors and the decision to invest in stocks and derivatives of Vietnam’s Phu Hung Securities Corporation "PHS" investors and 3) to compare the factors that investors used to make an investment decision in stocks classified by career group, business group, stock orders and bond type. There were 400 participants. This research used a questionnaire as the instrument. The statistics used to analyze the data were mean, standard deviation, Principal Component Analysis (PCA)) and Exploratory Factor Analysis (EFA), two-way multivariate analysis of variance (two-way MANOVA) and Scheffe’s Method.

          The results of the study showed that the overall of general condition of investment and the decision to invest in stocks and derivatives of Vietnam’s Phu Hung Securities Corporation "PHS" investors was at a high level in all aspects: the highest aspect was macro data and economic conditions, followed by image and competitive conditions, accounting information and basic data, respectively.

          The total number of investment factors and the decision to invest in stocks and derivatives of Vietnam’s Phu Hung Securities Corporation "PHS" investors consisted of 38 variables. The KMO of all components was .82. These factors could explain 66.08% of the variance. The factor that can explain variance the most was the return on investment (20.72), followed by investment source (8.78), the image of the company (6.49), investment target (5.19), respectively. The factor that can explain variance the least was the information (3.00).

          The results of comparing the factors that investors used to make an investment decision in stocks classified by career group, business group, stock orders and bond type showed that (1) Career group interaction: there were significant statistical differences at .05 level in image and competitive, followed by macro data and economic conditions and basic data, respectively. (2) Business group interaction: there were significant statistical differences at .05 level in image and competitive, followed by accounting information and macro data and economic conditions, respectively. (3) Stock orders and bond type interaction: there were significant statistical differences at .05 level in accounting information, followed by basic data, respectively.