Influence Fear Of Missing Out (FOMO) And Emotional Bias Towards Stock Investment Intentions Among Generation Z (A Study Of Students Of The Bachelor Of Accounting Study Program At Tadulako University)
Muhammad Zaidan, Sugianto, Abdul Kahar, Muhammad Ilham Pakawaru

Accounting Department, Faculty of Economics and Business, Tadulako University, Jl. Soekarno Hatta Km. 9, Palu, Indonesia
*mhmmdzidan31[at]gmail.com

Abstract

This study aims to analyze the influence of Fear of Missing Out (FOMO) and Emotional Bias on the stock investment intentions of undergraduate Accounting students at Tadulako University. Using a quantitative approach with an associative descriptive design, this study involved 213 students selected by purposive sampling. Data were collected through a Likert-scale questionnaire and analyzed using multiple linear regression. The results showed that FOMO had a positive and significant effect on stock investment intentions (t = 2.38- p = 0.018). Similarly, emotional bias had a significant positive effect on stock investment intentions (t = 3.315- p = 0.001). Both factors together explained 22.8% of the variation in students^ stock investment intentions. These findings confirm the proposed hypothesis, namely that FOMO and emotional bias influence investment decisions even though students have good financial knowledge. The practical implication of this study^s results is the importance of financial education that focuses not only on theory, but also on managing psychological factors in investment decision-making. The main limitation of this study is the sample which is limited to one university, so it is recommended that further research involve a wider sample and consider other variables such as financial literacy or social influence.

Keywords: FOMO, Emotional Bias, Stock Investment Intention, Generation Z, Financial Education

Topic: Financial Management and Banking