Name: Jahnavi Singla, Manju Mittal
Country: India

Year: 2026
Volume: Vol-11, No.2, July-Dec-2026
Page Number: 302-317
DOI: https://doi.org/10.5281/zenodo.22844926

ABSTRACT
Purpose
This study seeks to create a conceptual framework to explain the cryptocurrency investment behavior of millennials by combining the Theory of Planned Behaviour and behavioural finance theories. The study specifically focuses on how the attitude of impulsiveness, subjective norms and perceived behavioural control affect cryptocurrency investment behaviour. Additionally, the framework suggests facilitating conditions and imitating others are important positive antecedents of impulsive attitudes.
Design
The paper utilizes an exploratory and conceptual research design in which a great deal of theory and literature-based analysis were undertaken. The conceptual framework is constructed based on the theory of planned behavior and behavioural finance literature to understand the speculative investment behaviour in the cryptocurrency market. Five theoretical propositions are proposed in this study that explain the interrelationship of the behavioural, technological and socio-psychological factors influencing the investment behaviour of millennials in cryptocurrencies.