DETERMINANTS OF GEN Z INVESTMENT DECISIONS VIA INNOVESTX: EVIDENCE FROM USERS IN THAILAND
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Abstract
This study examines the determinants of Gen Z’s investment decisions via InnovestX in Thailand. With the rapid evolution of integrated fintech platforms that consolidate domestic equities, mutual funds, and offshore investments within a single mobile application, understanding the behavioral drivers of young investors has become increasingly vital. Using a quantitative approach and binary logistic regression analysis, this study investigates whether perceived convenience, financial self-efficacy, and social influence predict investment participation. The results indicate that social influence significantly increases the likelihood of Gen Z investing through InnovestX, while financial self-efficacy demonstrates a significant negative effect. This suggests that more financially confident individuals may exhibit platform substitution behavior toward more sophisticated or specialized investment channels rather than integrated platforms. Perceived convenience does not significantly influence investment decisions. The findings suggest that Generation Z’s investment behavior on integrated trading platforms is primarily shaped by social dynamics rather than functional convenience, thereby providing practical implications for fintech providers and platform designers. This study contributes to the literature on fintech adoption and digital financial behavior in emerging markets.
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