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All Journal JURNAL EKONOMI DAN BISNIS AIRLANGGA
Aeni, Nurul Nur
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Economics, Econometrics & Finance

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DETERMINANTS OF MILLENNIAL INVESTMENT DECISION-MAKING IN THE SHARIA CAPITAL MARKET: A COMPREHENSIVE REVIEW Aeni, Nurul Nur; Tubastuvi, Naelati; Purwidianti, Wida; Utami, Restu Frida
Jurnal Ekonomi dan Bisnis Airlangga Vol. 34 No. 1 (2024): JURNAL EKONOMI DAN BISNIS AIRLANGGA
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jeba.V34I12024.1-19

Abstract

Introduction: The study aims to examine the impact of financial literacy, overconfidence, regret aversion bias, herding, and risk tolerance on the investment decisions of the Indonesian millennial generation.  Methods: The study used a quantitative approach with a sample of 120 respondents from the millennial generation who invested in the Islamic capital market. A statistical test was done using SPSS IBM 26. Results: Financial literacy and overconfidence significantly influenced investment decisions. On the other hand, regret aversion bias, herding, and risk tolerance had no significant impact on investment decisions. Conclusion and suggestion: The study concluded that financial literacy and overconfidence are the major factors that affect the investment decisions of the Indonesian millennial generation. The government (regulator) and related institutions should take a more proactive approach in providing outreach and education about the importance of financial literacy and overconfidence. The millennial generation is interested in investing in the Sharia capital market.
Co-Authors Naelati Tubastuvi Restu Frida Utami Wida Purwidianti