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Analysis Of The Influence Of Social Media Influencers, Herding Bias, Information Quality On Student Invesment Decisions UPN ‘Veteran’ East Java Mediated By Fear Of Missing Out (FOMO) Winda Amalia Sari; Takarini, Nurjanti
JHSS (JOURNAL OF HUMANITIES AND SOCIAL STUDIES) Vol. 9 No. 2 (2025): JHSS (Journal of Humanities and Social Studies)
Publisher : UNIVERSITAS PAKUAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33751/jhss.v9i2.86

Abstract

This study examines the effects of social media influencers, herding bias, and information quality on the investment decisions of 119 UPN Veteran East Java students, with FOMO as a mediator. Using PLS-SEM analysis via SmartPLS, results show that herding bias (β = 0,002, p < 0.05) and information quality (β = 0,001, p < 0.05) directly influence investment decisions, while social media influencers affect decisions indirectly through FOMO (β = 0,331, p < 0.05). FOMO significantly mediates the relationship between these factors and investment behavior, highlighting the key role of social and psychological influences in students’ digital investment choices.