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Five Basic Human Emotions and Investment Decisions on Generation Z in Surabaya-Indonesia

In: Proceedings of the 20th International Symposium on Management (INSYMA 2023)

Author

Listed:
  • Bertha Silvia Sutejo

    (Brawijaya University)

  • Sumiati

    (Brawijaya University)

  • Risna Wijayanti

    (Brawijaya University)

  • Candra Fajri Ananda

    (Brawijaya University)

Abstract

The impact of the five basic human emotions on investment decision-making, which focuses specifically on Generation Z investors in Surabaya, Indonesia, is investigated in this study. The research sample includes 180 Generation Z respondents with prior investing experience. To test the hypotheses, Amos used structural equation modeling (SEM). Exogenous variables are the five basic emotions (happiness, hope, anger, sadness, and fear), and endogenous variable is investment decision. According to the study findings, only two basic human emotions, anger and hope, have a significant influence on investment decisions among Generation Z investors in Surabaya. However, the remaining three primary emotions, happiness, sadness, and fear, have no significant impact on investment decisions. As a result, investors must be mindful of their emotions, particularly during times of anger and hope, to make more accurate investment decisions.

Suggested Citation

  • Bertha Silvia Sutejo & Sumiati & Risna Wijayanti & Candra Fajri Ananda, 2024. "Five Basic Human Emotions and Investment Decisions on Generation Z in Surabaya-Indonesia," Advances in Economics, Business and Management Research, in: Werner Ria Murhadi & Dudi Anandya & Noviaty Kresna Darmasetiawan & Juliani Dyah Trisnawati & Putu An (ed.), Proceedings of the 20th International Symposium on Management (INSYMA 2023), pages 9-15, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-244-6_3
    DOI: 10.2991/978-94-6463-244-6_3
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