IYKYK: The Relationship of Financial Knowledge and Theory of Planned Behavior towards Investment Intention of MSME Food Business Owners in Bocaue, Bulacan

Abstract

This study examines the impact of financial knowledge and the factors under the Theory of Planned Behavior—namely, subjective norms, attitude, and perceived behavioral control—on the investment intention of MSME food business owners located in Bocaue, Bulacan. A total of 169 MSME food business owners were surveyed using both printed questionnaires and Google Forms. Employing a correlational research design, the researchers examined how the investment intentions of food business owners are shaped by their financial knowledge, social influences, attitudes toward investment, and perceived ability to manage investments. By applying Mediation Analysis, the results revealed that financial knowledge has a significant impact on subjective norms, attitude, and perceived behavioral control. Furthermore, the path from the three predictors of TPB to investment intention shows that subjective norms and attitude have a positively influence investment intention, while perceived behavioral control does not. Finally, TPB as a mediating variable between financial knowledge and investment intention shows that subjective norms and attitude significantly mediate the impact of financial knowledge on investment intention, while perceived behavioral control did not significantly mediate this relationship