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Laylan Syafina
Faculty of Economics and Islam Business, Universitas Islam Negeri Sumatera Utara
Humanities Economics, Econometrics & Finance Social Sciences

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FOMO PHENOMENON IN GEN Z INVESTMENT BEHAVIOR: COMPARISON OF CONVENTIONAL AND SHARIA INVESTMENT INSTRUMENTS Gladis Jelita; Laylan Syafina; Muhammad Lathief Ilhamy Nasution
Jurnal Ilmu Ekonomi dan Pembangunan Vol 26, No 1 (2026): Jurnal Ilmu Ekonomi dan Pembangunan
Publisher : EP FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/jiep.v26i1.117690

Abstract

This research analyzes the influence of Fear of Missing Out (FOMO) on the investment behavior of Gen Z and compares its manifestations in conventional and sharia investment instruments thru a descriptive qualitative approach with in-depth interviews. The research results show that FOMO drives more impulsive investment decisions in conventional instruments, primarily due to the urge to follow trends and a short-term profit orientation. On the other hand, in Sharia investments, the influence of FOMO tends to be more controlled due to ethical considerations, principles of prudence, and Sharia compliance. Financial literacy, particularly Sharia financial literacy, also plays an important role in moderating the influence of FOMO by enhancing the rationality and risk awareness of investors. These findings affirm that the characteristics of investment instruments and the level of financial literacy influence Gen Z's response to behavioral biases in investment decision-making.
Co-Authors Gladis Jelita Muhammad Lathief Ilhamy Nasution