The Influence of Behavioral Biases on Investment Decisions Among Generation Z Investors in Tangerang: The Mediating Role of Risk Perception
DOI:
https://doi.org/10.59890/ijma.v4i3.25Keywords:
Investment Decision, Risk Perception, Disposition Effect, Generation Z InvestorsAbstract
This study examines the effects of disposition effect, herding behavior, and blue-chip stock preference on investment decisions among Generation Z investors in Tangerang, with risk perception serving as a mediating variable. This study uses a quantitative approach by utilizing data from 386 Generation Z investors selected through purposive sampling. The data in this study were tested and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4. The results indicate that disposition effect, herding behavior, and blue-chip stock preference significantly influence both risk perception and investment decisions. Furthermore, risk perception significantly affects investment decisions and partially mediates the relationships between the independent variables and investment decisions. The findings in this study emphasize the important role of behavioral factors and risk perception in making decisions among Generation Z investors.
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