The effect of financial knowledge and financial well-being on investment intention mediated by financial attitude:A study on millennial generation and Gen Z in Malang City

Muhammad Ilyas, Moeljadi and Achmad Helmy Djawahir
Additional contact information
Muhammad Ilyas: Faculty of Economic and Business, University of Brawijaya, Mahoni St.3, Jembatan Besi, Tarakan City, 77126 North Kalimantan, Indonesia
Moeljadi: Professor, Faculty of Economic and Business, University of Brawijaya, Kompleks Uniga 9, 65144, Malang, Indonesia
Achmad Helmy Djawahir: Ph.D, Faculty of Economic and Business, University of Brawijaya, Terusan Dieng Street 62-64, 65115, Malang, Indonesia

International Journal of Research in Business and Social Science (2147-4478), 2021, vol. 10, issue 8, 175-188

Abstract: Investment intention in millennials and Gen Z in Indonesia grows yearly. However, the cause of the growing enthusiasm for investment among millennials and Gen Z is recently fear of being vulnerable to Fear of Missing Out (FOMO) behaviour alone, not based on financial factors such as financial knowledge, financial well-being and financial attitude. This study aims to determine the role of financial knowledge and financial well-being on investment intention mediated by financial attitude. This research belongs to the type of explanatory research. Respondents in this study are Millennials and Gen Z generations who invest and live in Malang City. Determination of the number of samples in this study using the purposive sampling technique with a total sample of 400 respondents. Methods of collecting data using a questionnaire, then analyzed using PLS-SEM. The study results confirm that financial knowledge positively affects investment intention. Financial well-being does not affect investment intention. Financial attitude has a positive influence on investment intention. Financial knowledge and financial well-being have a positive influence on financial attitude. Financial attitude can partially mediate the relationship between financial knowledge and investment intention. In addition, financial attitude can also mediate the relationship between financial well-being and investment intentions fully. Millennials and Gen Z are expected to improve financial knowledge and attitudes to increase interest in more targeted investments. This advice will also positively impact the Financial Well-being of millennials and Gen Z in the future. Key Words:Financial Knowledge, Financial Well-being, Financial Attitude, Investment Intention.

Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.ssbfnet.com/ojs/index.php/ijrbs/article/view/1530/1099 (application/pdf)
https://doi.org/10.20525/ijrbs.v10i8.1530 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rbs:ijbrss:v:10:y:2021:i:8:p:175-188

Access Statistics for this article

International Journal of Research in Business and Social Science (2147-4478) is currently edited by Prof.Dr.Umit Hacioglu

More articles in International Journal of Research in Business and Social Science (2147-4478) from Center for the Strategic Studies in Business and Finance Editorial Office,Baris Mah. Enver Adakan Cd. No: 5/8, Beylikduzu, Istanbul, Turkey. Contact information at EDIRC.
Bibliographic data for series maintained by Umit Hacioglu ().