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Analysing individuals’ investment intentions: An application of the extended Theory of Planned Behaviour model in the Greek context

Lookup NU author(s): Efi Palamida, Professor Savvas PapagiannidisORCiD


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This research has analysed individuals’ intentions to create (a) new venture(s) or participate in (an) existing one(s) by investing their available financial, human and social capital. Following the Theory of Planned Behaviour (TPB) our initial research question was whether attitude towards investment, investment subjective norms and perceived behavioural control related positively to investment intentions. In an attempt to better understand and explain the core relationships in the TPB, our second research question was “when” these relationships may occur. Drawing on previous research inside and outside the entrepreneurial domain, we hypothesised that norms moderate the attitude-intention relationship and control moderates the norm-intention and attitude-intention relationship. Finally, we explored whether attitude, norms and control may interact simultaneously. Results of hierarchical regression analyses confirmed the main tenets of the theory. Our main contribution comes in the light of the significant three-way interaction effect. Attitudes towards investment related positively to investment intentions, particularly in conditions where norms were positive and control was low.

Publication metadata

Author(s): Palamida E, Papagiannidis S, Xanthopoulou D

Publication type: Conference Proceedings (inc. Abstract)

Publication status: In Press

Conference Name: European Academy of Management Conference (EURAM)

Year of Conference: 2013