Herding the influencers for investment decisions: millennials bust the gender stereotype

Gupta, Poornima; Goyal, Preeti

doi:10.1057/s41264-022-00195-4

Cited by 2 publications

(2 citation statements)

References 49 publications

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“…Interestingly, the study found that while they do listen to experts, individuals tend to follow the crowd more when influenced by friends, relatives, siblings, and parents (Gupta & Goyal, 2022). Sokolova & Kefi (2020) further support these findings by asserting that a strong engagement between social media influencers and their followers can also positively impact purchase intention, mirroring the effectiveness seen in the marketing domain (Yuan & Lou, 2020).…”

Section: Introductionmentioning

confidence: 68%

Social media impact on trading behavior: An examination among Indonesian young adult investors with capital market literacy as a mediator

Junaidi,

Nurhidayah

2023

JEMA

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The decline in financial literacy about capital markets among Indonesians raises concerns that the growing number of investors is at risk of financial fraud. This study introduces a novel approach to comprehensively examine how Indonesian young adults make investment choices, mainly when influenced by social media and their different literacy levels about financial markets in the digital age context. The central and dual roles of capital market literacy as an independent and intervening variable expand upon the existing framework of related studies. An empirical online survey with a valid sample of 314 respondents from Indonesia is used as the primary data for the study. Using the partial structural equation model, our results indicate that both social media and capital market literacy directly and positively impact investors' trading behavior. This suggests that a deeper understanding of capital market literacy, coupled with the influence of social media, plays a crucial role in shaping how investors engage in trading activities. Furthermore, this study also found that the mediating role of capital market literacy significantly affects trading behavior, indicating its importance in explaining how social media influences investment decisions among young adults.

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Section: Introductionmentioning

confidence: 68%

Social media impact on trading behavior: An examination among Indonesian young adult investors with capital market literacy as a mediator

Junaidi,

Nurhidayah

2023

JEMA

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“…Based on their research on the Japanese stock market, they argue that volatility is impacted by shocks in institutional sentiment, and document a V-shaped relationship between changes in institutional ownership level (considered a proxy for institutional herding) and idiosyncratic volatility. Evidence of herding behavior have also been detected in the investment decisions of millennials (Bunting, 2021;Gupta and Goyal, 2022). This group of investors is also particularly hungry for ESG investment opportunities; in fact, the literature refers to a millennial boost for ESG investing (Ruggie and Middleton, 2019).…”

Section: Literature Reviewmentioning

confidence: 99%

Herding behavior by socially responsible investors during the COVID-19 pandemic

Lobato,

Rodríguez,

Romero-Perez

2023

RBF

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PurposeThis study aims to examine the herding behavior of socially responsible exchange traded funds (SR ETFs) in comparison to conventional ETFs during the COVID-19 pandemic.Design/methodology/approachTo test for herding behavior, the authors use the cross-sectional absolute deviation and a quadratic market model.FindingsDuring the pandemic, investments in socially responsible financial products grew rapidly. And investors in the popular SR ETFs herd during this special period, while holders of conventional ETFs did not.Practical implicationsInvestors in socially responsible investments must do their own research and make their own financial decisions, rather than follow the crowd, especially during extreme events like the COVID-19 pandemic.Originality/valueThe evidence shows that, during the pandemic, socially responsible ETFs behaved in line with theoretical predictions of herding, that is, herding is more significant during extreme market conditions.

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Herding the influencers for investment decisions: millennials bust the gender stereotype

Cited by 2 publications

References 49 publications

Social media impact on trading behavior: An examination among Indonesian young adult investors with capital market literacy as a mediator

Social media impact on trading behavior: An examination among Indonesian young adult investors with capital market literacy as a mediator

Herding behavior by socially responsible investors during the COVID-19 pandemic

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