Quantitative analysis reveals financial literacy and herding significantly influence investment decisions among Generation Z and Millennials.
Key Points
Financial self-efficacy significantly influences investment decisions at a 5% level, underscoring the importance of confidence in financial choices.
Risk perception and financial literacy also positively affect investment decisions, highlighting the role of knowledge and awareness in financial behavior.
Herding demonstrates a positive influence on investment decisions, suggesting that social influence impacts the financial choices of young investors.
Data were collected from 214 respondents using an online questionnaire and analyzed through structural equation modeling techniques.