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The Perception Reality of Sustainable Investment in Millennial and Generation Z

Dini Lestari, Sudarso Kaderi Wiryono


Much research on human behavior and decision-making has been established because sustainable practices are now one of the things that help improve the quality of human life today. Additionally, some generations act differently from others in terms of consumer references, ideas, habits, and how they approach societal issues while making judgments. In addition to determining whether or not they are persuaded about a specific investing niche, like sustainable investments, based on their personal perspectives, the research aims to ascertain the level of awareness of sustainability issues in finance among millennials and generation Z in Indonesia. The research is presented as quantitative research with 240 individual investor samples. Data were examined using structural equation modeling (SEM). The results indicate that influencer does not impact sustainable investment when impact on return, risk-averse and positive performance positively influence sustainable investments. Finally, the implications for investors and the government are discussed.


Sustainable Investment; Investment Behaviour; Millennial; Generation Z; Indonesia

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