Abstract
After allowing long-term mutual fund to be used as expense for tax deduction in order to help promote investing in the Thai stock market, the Thai long-term mutual funds (LTF) have been rapidly grown. However, Thai government is now considering whether to suspend this policy. It becomes interesting how the suspension of this policy will affect the investment decision on the long-term mutual funds. This study intends to determine effect of the suspension of tax benefit of the long-term mutual fund applying behavior finance conceptual framework. The results from experimental survey data indicate that after suspension of tax benefit policy, investors will lower their investment on long-term mutual funds but invest in government bond instead.
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