A Model Proposal for Explaining the Investment Behaviour of University Students

This study proposes a unique structural model to understand the effects of financial literacy (F- Financial Literacy), lack of self-control (LSC-Lack of Self-Control), peer influence (PI-Peer Influence), parental socialisation (PS-Parental Socialisation) and social media (SM-Social Media) on university students' investment behaviour (IB-Investment Behaviour). The originality of the study lies in combining the effects of these factors on investment behaviour within the framework of a model. In addition to the limited studies in the literature, the study makes both theoretical and practical contributions by conducting hypothesis tests with PLS-SEM analysis. Data were collected from students (n=137) studying at the Faculty of Economics and Administrative Sciences (FEAS) during the summer term of 2023 through an online survey. The analysis revealed that the model is appropriate and financial literacy, lack of self-control, parental socialisation and social media positively affect investment behaviour, while lack of self-control has a negative effect on investment behaviour and only peer effect is not supported. This study provides an important framework for understanding the financial decision-making processes of university students and provides guidance for policy makers and educators.