STO 시장에서 기대-가치(EV) 모델을 통한 투자자 태도와 의도 분석
Analyzing investor attitudes and intentions in the STO market with the Expectation-Value Model
0
조회
0
다운로드
0
인용
0
참고문헌
키워드
초록
본 연구는 STO(Security Token Offering) 시장에서 실물 및 비실물 자산에 대한 심리적 소유감이 투자의도에 미치는 영향을 탐구하였다. 특히, 프로젝트에 대한 태도가 심리적 소유감과 투자의도 사이의 관계를 매개하는지 분석하였다. 113명의 응답자를 대상으로 설문조사를 실시하고, 수집된 데이터를 바탕으로 통계적 분석을 수행하였다. 연구 결과, 투자자들이 높은 심리적 소유감을 경험할수록 투자의도가 유의미하게 증가하였으며, 긍정적인 태도가 이 관계를 효과적으로 매개함을 확인하였다. 이러한 발견은 STO 시장에 대한 이해를 심화하고, 투자자들의 행동 패턴과 의사 결정 과정을 예측하는 데 중요한 시사점을 제공하였다. 본 연구는 투자자들의 심리적 소유감 형성과 투자의도에 미치는 영향을 심층적으로 이해하는 데 기여하였다.
Abstract
This study explored the impact of psychological ownership of tangible and intangible assets on investment intentions in the Security Token Offering (STO) market. In particular, it analyzed whether attitudes towards projects mediate the relationship between psychological ownership and investment intentions. A survey was conducted with 113 respondents, and statistical analysis was performed based on the collected data. The results showed that the higher the psychological ownership experienced by investors, the significantly higher their investment intentions. Additionally, it was confirmed that a positive attitude towards the project effectively mediated this relationship. These findings deepen the understanding of the STO market and provide important insights for predicting investor behavior patterns and decision-making processes. This study contributes to a deeper understanding of how investors form psychological ownership and how this influences their investment intentions.
참고문헌 (18)
- 박지섭, "토큰증권발행 (STO) 에 대한 소비자의 인식과 투자결정 요인 분석:가치기반수용모델 접근방식을 통한 심층분석", 지급결제학회지, 15(2), pp.239~263 (2023)
- 윤민섭, "증권형 토큰(ST)의 제도화 방향 연구", 기업법연구, 36(3), pp.9~32 (2022)
- A. V. Kozhanova, "ICO and STO as modern tools for crowdfunding startups", Vestnik Universiteta, (2), pp.41~48 (2020)
- E. Vuori, "Investment project as an internal corporate venture", International Journal of Project Management, 30(6), pp.652~662 (2012)
- E. Karahanna, "Psychological ownership motivation and use of social media", Journal of Marketing Theory and Practice, 23(2), pp.185~207 (2015)
- F. Lefley, "Approaches to risk and uncertainty in the appraisal of new technology capital projects", International Journal of Production Economics, 53(1), pp.21~33 (1997)
- G. Tieri, "Mere observation of body discontinuity affects perceived ownership and vicarious agency over a virtual hand", Experimental Brain Research, 233, pp.1247~1259 (2015)
- H. Van Kerrebroeck, "When brands come to life : experimental research on the vividness effect of Virtual Reality in transformational marketing communications", Virtual Reality, 21, pp.177~191 (2017)
- I. Ajzen, "A Bayesian analysis of attribution processes", Psychological Bulletin, 82(2), pp.261~ (1975)
- J. Aspara, "Individuals’ affect-based motivations to invest in stocks : Beyond expected financial returns and risks", Journal of Behavioral Finance, 12(2), pp.78~89 (2011)
- J. Kreppmeier, "Real estate security token offerings and the secondary market: Driven by crypto hype or fundamentals?", Journal of Banking & Finance, 154, pp.106940~ (2023)
- J. L. Pierce, "The state of psychological ownership : Integrating and extending a century of research", Review of General Psychology, 7(1), pp.84~107 (2003)
- J. M. Feldman, "Self-generated validity and other effects of measurement on belief, attitude, intention, and behavior", Journal of Applied Psychology, 73(3), pp.421~ (1988)
- J. Peck, "In search of a surrogate for touch: The effect of haptic imagery on perceived ownership", Journal of Consumer Psychology, 23(2), pp.189~196 (2013)
- M. P. O’Driscoll, "The psychology of ownership:Work environment structure, organizational commitment, and citizenship behaviors", Group & Organization Management, 31(3), pp.388~416 (2006)
- P. P. Momtaz, "The Emerald Handbook on Cryptoassets:Investment Opportunities and Challenges", pp.61~78 (2023), Emerald Publishing Limited
- S. G. Ahn, "A Conceptual Study on Blockchain Technology-based STO Platform Creation for Ship Finance", Journal of Korea Port Economic Association, 38(1), pp.31~47 (2022)
- T. Lambert, "Security token offerings", Small Business Economics, pp.1~27 (2021)