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Personality and behavioural factors as predictors of investment intention in the Croatian stock market

Author

Listed:
  • Marija Vukovic

    (University of Split, Croatia)

  • Snjezana Pivac

    (University of Split, Croatia)

  • Karmen Vrhar Susnjara

    (University of Split, Croatia)

Abstract

This research examines the role of personality traits and appropriate behavioural factors in individual investors' decisions. The research was carried out using a survey analysis among 310 Croatian stock market investors. PLS-SEM (Partial least squares structural equation modelling) results offer evidence that investors' stability positively influences their emotions, overconfidence, loss aversion and investment decisions, while plasticity affects their overconfidence and loss aversion. Overconfidence, emotions and loss aversion positively affect investment decisions. These decisions positively impact investment performance, satisfaction and further investment intention. Understanding investors' behaviour may improve investment decisions and future investment intention, while also helping financial advisors design more suitable portfolios and strategies. Comparative analysis could further confirm broader behavioural patterns in the stock market.

Suggested Citation

  • Marija Vukovic & Snjezana Pivac & Karmen Vrhar Susnjara, 2026. "Personality and behavioural factors as predictors of investment intention in the Croatian stock market," EURINT, Centre for European Studies, Alexandru Ioan Cuza University, vol. 17, pages 37-59, June.
    • Handle: RePEc:jes:eurint:y:2026:v:17:p:37-59
    DOI: https://doi.org/10.47743/ejes-2026-0102
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