DETERMINING THE FACTORS AFFECTING INVESTORS’ DECISION MAKING PROCESS IN CRYPTOCURRENCY INVESTMENTS

Abstract

Purpose- The purpose of this study is to determine the factors influencing investors’ decision making on cryptocurrency investments and create investors’ preference partworths by conducting conjoint analysis. In conjoint method, assessment criteria are called as attributes and each attribute has more than one level.

Methodology- In this study, conjoint analysis has been conducted to create investors’ preference partworths. Conjoint method is a statistical method which is conducting a survey-based research design that provides information on respondents’ choices on attributes and their levels for a specific product or an investment option. In the first step, attributes and their levels have been determined, then conjoint bundles, which form the basis of the survey form, were created. As a third step, data collected have been analyzed and preference partworths have been created.

Findings- Data collected for the study have been analyzed by using Marketing Engineering for Excel software. The findings of this preliminary study indicate investors’ priorities in cryptocurrency investments. By assessing these priorities, a highly competing cryptocurrency can be created.

Conclusion- The conjoint analysis gives a clear view on what investors expect from cryptocurrencies and what are their priorities. The results show the attributes and their preferred levels to improve current cryptocurrency types and to develop new ones.

Keywords

• Cryptocurrency,investment,conjoint analysis,bitcoin

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