Financial Knowledge and Millennials Investing Behaviors in Indonesia

Aang Kunaifi, Ahnan Naufal Fadlil Akbar

Abstract


This research aims to investigate investment behavior in Indonesia millennial generation. Three variables are used to explain millennial behavior to have an investment account or unit. Consistent multivariate result finds that financial knowledge is positively associated with investment behavior. The results are found personal factor such as age group and gender have relationship on investment behavior. Junior age group and female have more likely to have an investment account or unit.


Keywords


financial knowledge; age group; gender; millennial

Full Text:

PDF

References


Azhar, Z., Azilah, N., & Syafiq, A. (2017). Investment Awareness Among Young Generation. Proceedings of the International Conference on Business and Management Research (ICBMR-17). https://doi.org/10.2991/icbmr-17.2017.12

Barasinska, N., & Schäfer, D. (2017). Gender role asymmetry and stock market participation – evidence from four European household surveys. The European Journal of Finance, 24(12), 1026–1046. https://doi.org/10.1080/1351847X.2017.1371622

Castillo, M., Leo, G., & Petrie, R. (2013). Room Effects. GMU Interdisciplinary Center for Economic Science Department of Economics, Paper No. 13–17. Retrieved from http://edirc.repec.org/data/icgmuus.html

Copur, Z., & Gutter, M. S. (2019). Economic, Sociological, and Psychological Factors of the Saving Behavior: Turkey Case. Journal of Family and Economic Issues, 40(2), 305–322. https://doi.org/10.1007/s10834-018-09606-y

Dohmen, T., Falk, A., Huffman, D., Sunde, U., Schupp, J., & Wagner, G. G. (2011). Individual risk attitudes: Measurement, determinants, and behavioral consequences. Journal of the European Economic Association. https://doi.org/10.1111/j.1542-4774.2011.01015.x

Eckel, C. C., & Füllbrunn, S. C. (2017). Hidden vs. known gender effects in experimental asset markets. Economics Letters, 156, 7–9. https://doi.org/10.1016/J.ECONLET.2017.04.009

Flynn, L. R., & Goldsmith, R. E. (1999). A Short, Reliable Measure of Subjective Knowledge. Journal of Business Research, 46(1), 57–66. https://doi.org/10.1016/S0148-2963(98)00057-5

Goldsmith, R. E. (2006). The Effects Of Investment Education On Gender Differences In Financial Knowledge. Journal of Personal Finance, 5(2), 55–69. Retrieved from www.careprogram.us

Halko, M.-L., Kaustia, M., & Alanko, E. (2012). The gender effect in risky asset holdings. Journal of Economic Behavior & Organization, 83(1), 66–81. https://doi.org/10.1016/J.JEBO.2011.06.011

Henager, R., & Cude, B. J. (2016). Financial Literacy and Long- and Short-Term Financial Behavior in Different Age Groups. Journal of Financial Counseling and Planning, 27(1), 3–19. https://doi.org/10.1891/1052-3073.27.1.3

Kim, K. T., Anderson, S. G., & Seay, M. C. (2019). Financial Knowledge and Short-Term and Long-Term Financial Behaviors of Millennials in the United States. Journal of Family and Economic Issues, 40(2), 194–208. https://doi.org/10.1007/s10834-018-9595-2

Utomo, W. P. (2019). Indonesia Millennial Report 2019. Retrieved from https://cdn.idntimes.com/content-documents/indonesia-millennial-report-2019-by-idn-times.pdf

Wang, A. (2011). Younger Generations’ Investing Behaviors in Mutual Funds: Does Gender Matter? The Journal of Wealth Management, 13(4), 13–23. https://doi.org/10.3905/jwm.2011.13.4.013




DOI: http://dx.doi.org/10.12962/j24433527.v0i01.5768

Refbacks

  • There are currently no refbacks.


Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

p-ISSN (1979-5521)  e-ISSN (2443-3527)