The influence of financial literacy, herding and overconfidence on investment decision making among Indonesian Gen Z

Investment decisions geared towards securing long-term gains, are influenced by both rational and irrational attitudes in the allocation of capital. Financial literacy serves as a metric for evaluating the rational perspective, whereas behavioral finance examines the irrational inclinations, such as overconfidence and herding. This research was conducted with quantitative method with data collected by questionnaire shared among Indonesian people. This study scrutinizes how financial literacy, herding and overconfidence influencing those Indonesian gen z on investment decision. The results showed financial literacy and overconfidence has a positive influence on investment decision, meanwhile the herding is not significantly affecting Indonesia gen z’s investment decision. Keywords: Investment Decision, Financial Literacy, Herding, Overconfidence, Gen Z.