IDEAS home Printed from https://ideas.repec.org/a/spt/apfiba/v15y2025i5f15_5_4.html
   My bibliography  Save this article

An Analysis of the Determinants Behind the Investment Changing Perception from Gold to Cryptocurrency among Vietnamese Investors

Author

Listed:
  • Cheng-Wen Lee
  • Hong-Vui Ngo
  • Avi Sunani
  • Adil Zareef Khan

Abstract

As digital finance grows in prominence, Vietnamese investors are increasingly shifting away from traditional assets like gold toward digital assets like cryptocurrency. This study explores the underlying factors driving this transition through a mixed-methods approach that combines survey data with supplementary regression analysis. The findings show that psychological and technological factors play a more influential role in shaping investor behavior than economic conditions, with perceived risk serving as a key mediating factor. While macroeconomic variables have a limited direct impact, investor trust, technological readiness, and risk attitudes significantly influence cryptocurrency adoption. These insights offer valuable implications for fintech firms, regulators, and investor education initiatives seeking to support safe and informed participation in emerging financial markets. Â JEL classification numbers: G12, G11, E44, G41, G23.

Suggested Citation

  • Cheng-Wen Lee & Hong-Vui Ngo & Avi Sunani & Adil Zareef Khan, 2025. "An Analysis of the Determinants Behind the Investment Changing Perception from Gold to Cryptocurrency among Vietnamese Investors," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 15(5), pages 1-4.
  • Handle: RePEc:spt:apfiba:v:15:y:2025:i:5:f:15_5_4
    as

    Download full text from publisher

    File URL: http://www.scienpress.com/Upload/JAFB%2fVol%2015_5_4.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spt:apfiba:v:15:y:2025:i:5:f:15_5_4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Eleftherios Spyromitros-Xioufis (email available below). General contact details of provider: http://www.scienpress.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.