Examining Generation Z’s Investment Intentions Via Mobile Applications: A Theory Of Planned Behavior Framework With Gender As Moderator
Abstract
Digital investment platforms are increasingly popular among Generation Z due to their accessibility and alignment with their digital behavior. However, investment decisions are often influenced by limited financial literacy and social exposure rather than informed financial planning. This study aims to examine the psychological determinants of investment intention among Generation Z in Indonesia, applying the Theory of Planned Behavior (TPB) and incorporating gender as a moderating variable. A survey was conducted with 225 users of mobile investment applications, and the data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results show that attitude and perceived behavioral control significantly influence investment intention, while subjective norms do not. Gender moderates only the relationship between attitude and investment intention. These findings underscore the importance of strengthening positive attitudes and perceived control through financial education and inclusive digital investment tools.References
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