What Makes Investors Stressed?: Evidence from The Stock Market of Thailand What Makes Investors Stressed?: Evidence from The Stock Market of Thailand
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Abstract
This paper examines the factors affecting Thai investors’ stress level based on choice of financial instrument invested, trading behavior, and trading objectives. The samples were 285 investors in the Stock Exchange of Thailand. The research tool was a questionnaire on the factors affecting Thai investors’ stress level, and the statistics used to analyze the data were percentage, mean, standard deviation and a multiple regression analysis. The results suggest only limited evidence on the type of instruments, with just derivative warrants having a significant impact on stress level, but not investments in lottery stocks or via a margin account. In terms of trading behavior, diversification was expected to reduce stress, but the hypothesis was not supported by the data, while trading with high frequency and day trading resulted in lower stress level, contrary to our expectations. Lastly, investors trading for a living and those who are addicted to trading are more stressed; however, those with high gambling propensity was not found to be more stressful. This may be explained by motivations other than financial profits, such as stress relief or entertainment.
Article Details
เนื้อหาและข้อมูลในบทความที่ตีพิมพ์ในวารสารวิชาการคณะมนุษยศาสตร์และสังคมศาสตร์ มหาวิทยาลัยราชภัฏเทพสตรี ถือเป็นข้อคิดเห็นและความรับผิดชอบของผู้เขียนบทความโดยตรง ซึ่งกองบรรณาธิการวารสารไม่จำเป็นต้องเห็นด้วย หรือร่วมรับผิดชอบใดๆ
บทความ ข้อมูล เนื้อหา รูปภาพ ที่ได้รับการตีพิมพ์ในวารสารวิชาการคณะมนุษยศาสตร์และสังคมศาสตร์ มหาวิทยาลัยราชภัฏเทพสตรี ถือเป็นลิขสิทธิ์ของวารสารวิชาการคณะมนุษยศาสตร์และสังคมศาสตร์ มหาวิทยาลัยราชภัฏเทพสตรี หากบุคคลหรือหน่วยงานใดต้องการนำทั้งหมดหรือส่วนหนึ่งส่วนใดไปเผยแพร่ต่าหรือกระทำการใดๆ จะต้องได้รับอนาญาตจากวารสารวิชาการ ฯ ก่อนเท่านั้น
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