The Influence of Neurotransmitters on Cryptocurrency Investment Decision-Making : The Mediating Role of Risk Tolerance and Moderating Role of Investment Experience

Authors

  •   Shubhangi Gautam Assistant Professor (Corresponding Author), Mittal School of Business, Lovely Professional University, Phagwara - 144 411, Punjab
  •   Pardeep Kumar Associate Professor, University School of Business, Chandigarh, University, Mohali - 140 413, Punjab
  •   Preeti Dahiya Assistant Professor, Panipat Institute of Engineering & Technology, Panipat - 132 101, Haryana

DOI:

https://doi.org/10.17010/ijf/2024/v18i10/174613

Keywords:

cryptocurrency

, neurotransmitters, investment decision, risk tolerance (RT), investment experience.

JEL Classification Codes

, G11, G40, G41

Paper Submission Date

, September 25, 2023, Paper sent back for Revision, April 23, 2024, Paper Acceptance Date, May 25, Paper Published Online, October 15, 2024

Abstract

Purpose : The current study examined the influence of neurotransmitters on cryptocurrency investment choices. Moreover, the research assessed the mediator risk tolerance (RT) and moderator investment experience on the connection between neurotransmitters and investment choices.

Research Design/Methodology : The analysis of the data involved 504 responses from individuals in India’s Western and Northern regions who either invested in cryptocurrencies or had knowledge of such investments. The proposed theoretical model of cryptocurrency investment choices was examined in the study using “variance-based partial least square structural equation modeling†(PLS-SEM).

Findings : The outcomes of this research specified that neurotransmitters play a substantial role in cryptocurrency investment choices, and they had a substantial impact on making investment choices. It was also noted that a significant moderator between neurotransmitters and Bitcoin investment decisions is RT. However, it was determined that investment experience had no moderating effect.

Practical Implications : This study revealed that, in order to make better-informed investment decisions, businesses, governments, and investors should consider the impact of neurotransmitters.

Value/Originality : The study was innovative since it is one of the first to examine how neurotransmitters, together with mediator RT and moderator investment experience, affected Bitcoin investment decisions. Additionally, the conceptual framework could be very helpful to cryptocurrency portfolio managers and investors in understanding how the brain functions during the decision-making process. They would then be better equipped to allocate their assets with knowledge and efficiency.

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Published

2024-10-15

How to Cite

Gautam, S., Kumar, P., & Dahiya, P. (2024). The Influence of Neurotransmitters on Cryptocurrency Investment Decision-Making : The Mediating Role of Risk Tolerance and Moderating Role of Investment Experience. Indian Journal of Finance, 18(10), 40–55. https://doi.org/10.17010/ijf/2024/v18i10/174613

Issue

Volume 18, Issue 10, October 2024

Section

Articles
Crossref
Scopus
Google Scholar
Europe PMC

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