Behavioral Biases and Investment Intention Among Generation Z Investors in South Tangerang: A PLS-SEM Approach
DOI:
https://doi.org/10.59890/ijma.v4i3.23Keywords:
Behavioral Biases, Investment Intention, Generation Z, PLS-SEMAbstract
This research investigates how five behavioral biases, namely Fear of Missing Out (FOMO), Socially Responsible Investing (SRI) awareness, Overconfidence, Herding Behavior, and the Disposition Effect, shape the investment intentions of Generation Z in South Tangerang, Indonesia. Utilizing the generational bias framework proposed by Altaf and Jan (2023), this study employs a cross-sectional quantitative analysis via PLS-SEM on a sample of 321 experienced Gen Z investors. Findings reveal that SRI awareness is the primary driver of investment intention (β=0.371), followed by the Disposition Effect, Overconfidence, and Herding Behavior. Conversely, FOMO negatively impacts intention (β=−0.109). These results underscore distinct behavioral patterns in Gen Z compared to previous generations, offering vital insights into Indonesia’s evolving digital investment landscape.
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