Jurnal Manajemen dan Kewirausahaan
Vol. 25 No. 2 (2023): SEPTEMBER 2023

UNDERSTANDING GEN Z INVESTMENT DECISIONS: CAPITAL MARKET LITERACY AND EMOTIONAL BIASES

Rohmad Fuad Armansyah (University of Hayam Wuruk Perbanas)
Herwin Ardianto (University of Hayam Wuruk Perbanas)
Chitra Laksmi Rithmaya (University of Hayam Wuruk Perbanas)



Article Info

Publish Date
20 Oct 2023

Abstract

This study aimed to advance behavioral economics, specifically behavioral finance bias and literacy, in Generation Z investment decisions. The research data used 389 Generation Z capital market investors who were members of the investor community group. The data analysis technique used the PLS-SEM approach. The study's results revealed that capital market literacy, overconfidence bias, confirmation bias, and fear of better options wielded substantial influence over the investment decisions made by Generation Z individuals within the Indonesian capital market. Interestingly, it was observed that mental accounting exhibited an insignificant effect on these investment choices. These empirical insights not only enhanced comprehension of investors' financial behaviors within the capital market but also offered valuable insights to stakeholders in the capital market ecosystem, aiding them in comprehending and addressing the behavioral biases inherent in the decisions of capital market investors.

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Journal Info

Abbrev

man

Publisher

Subject

Economics, Econometrics & Finance

Description

Jurnal Manajemen dan Kewirausahaan or Journal of Management and Entrepreneurship is published biannually, in March and September, by Petra Christian University. JMK aims to promote recent research results on Management and or Entrepreneurship, publish only research results on Management, such as ...