Abstract
This study investigates the factors influencing undergraduate students’ decisions to select Finance and Banking as their academic major in the Cambodian context. Guided by Social Cognitive Career Theory (SCCT), the research examines the interplay between perceived academic self-efficacy, outcome expectations, social support, and perceived barriers in shaping student interests and final major choice. A quantitative approach was employed, utilizing a structured questionnaire to collect primary data from a sample of 371 students at ACLEDA University of Business. Data were analyzed using confirmatory factor analysis (CFA) and structural equation modeling (SEM) with IBM SPSS AMOS to test the hypothesized relationships. The results provide statistical support for six of the seven hypotheses. Perceived social support emerged as the most powerful driver of student interest, while both student interest and social support exerted the strongest direct influence on the final choice of major. Outcome expectations and self-efficacy also significantly contributed to students’ decision-making. In contrast, perceived barriers did not significantly influence students' choices, suggesting a high level of resilience among the participants, many of whom were balancing work with their studies. These findings offer valuable implications for educational institutions and policymakers to better align academic programs with students’ aspirations and the evolving demands of Cambodia’s financial sector.
Keywords: Academic Major, Finance and Banking, Influencing Factors, Social Cognitive Career Theory (SCCT), Decision-making, Cambodia
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