The Effect of Financial Behavior on Investment Decisions in the Millennial Generation Group

Abstract

This study aimed to analyze the effects of financial literacy, financial behaviour and regret Aversion bias towards investment decisions among millennials in Indonesia. This study used primary data obtained by distributing questionnaires to 113 respondents with Maximum age of 30 years. The sampling method used in this research is purposive sampling. There were 78 out of 113 respondents who met the criteria to be sampled. The analysis method used in this study is Partial Least Square (PLS), with an R 2 value of 98.50%. The results showed that financial behaviour had a significant positive effect on investment decisions while financial literacy and regret aversion bias were not affected.