FINANCIAL LITERACY, RETURN EXPECTATIONS, Z-GENERATION STOCK INVESTMENT DECISIONS WITH HERDING MODERATION

Nivia Putri Anggraini; Munari Munari

doi:10.30998/jabe.v10i3.22565

FINANCIAL LITERACY, RETURN EXPECTATIONS, Z-GENERATION STOCK INVESTMENT DECISIONS WITH HERDING MODERATION

Nivia Putri Anggraini⁽¹⁾, Munari Munari^(2*)

(1)
(2)
(*) Corresponding Author

Abstract

Investing has become a popular method for saving, especially for long-term goals, due to the potential for greater returns over time. Indonesian people are increasingly aware of passive income, especially after the Covid-19 pandemic. Financial technology and online platforms allow more people to manage their investment portfolios. This paper examines the influence of financial literacy. It returns expectations on Z-Generation stock investment decisions and the influence of moderation of herding behavior on financial literacy and returns expectations influencing Z-Generation stock investment decisions. The type of research applied in this research is a quantitative approach. The population in this study is Z-Generation, who registered with the Investkuy stock investment education community on January 12, 2024, with a population of 339 people. The research results show that financial literacy positively affects Z-Generation's stock investment decisions, while return expectations also have a positive effect. However, herding behavior weakens the influence of financial literacy on these decisions while strengthening the influence of expected returns

Keywords

Behavior, Financial Literacy, Herding, Return Expectations, Stock Investment Decisions

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DOI: http://dx.doi.org/10.30998/jabe.v10i3.22565