Investment Decision-Making: A Comparison of Finland and Thailand
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School of Business |
Bachelor's thesis
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Date
2022
Department
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Mcode
Degree programme
(Mikkeli) Bachelor’s Program in International Business
Language
en
Pages
46 + 5
Series
Abstract
The main objective of this study is to explore cultural differences in Finland and Thailand, which affect investment decisions in terms of investment types, risk willingness, and the decision-making process. Moreover, this thesis relates the findings to Hofstede’s Cultural Dimensions Framework and evaluates the model’s effectiveness towards investments. The online survey was conducted to answer six hypotheses regarding investment decisions. 107 responses were gathered from Finnish and Thai investors, which were later analyzed using independent t-tests, chi-square tests, one-way ANOVA tests, and correlation tests. The analysis shows that there are both similarities and differences in investment decisions between Finland and Thailand. The homogeneity is at the macro-level, while the heterogeneity is at the micro-level. There are some similarities in investment variety, risk aversion, individualism, and profit investment reason between Finland Thailand. On the other hand, factors such as the investment holding period and the decision-making process show a distinctive difference. Though, these issues may be affected by investment knowledge. These findings contradict Hofstede’s framework, which means that the model may not suit individual investments.Description
Thesis advisor
Inci, Ahmet CanKeywords
investment, decision-making, culture, investment decisions, Finland, Thailand