THE INFLUENCE OF PAST BEHAVIOR, FINANCIAL LITERACY, AND SUBJECTIVE NORM ON INVESTMENT DECISIONS IN GENERATION Z WITH PERCEIVED BEHAVIORAL CONTROL AS AN INTERVENING VARIABLE

Abstract This study sought to evaluate the impact of Past Behavior, Financial Literacy, and Subjective Norms on investment decisions, both directly and indirectly, via Perceived Behavioral Control. This study employed a causal methodology. The study population includes all individuals of Generation Z in Medan. The sample in this study utilizes sampling adjusted for the numerous variable indicators, consisting of at least 226 individuals. This study utilizes a questionnaire method for data collecting. This study utilized quantitative data analysis strategies, employing statistical techniques including Auter Model Analysis, Inner Model Analysis, and Hypothesis Testing. This research use PLS (Partial Least Squares) software for data analysis. This study illustrates that Past Behavior and Perceived Behavioral Control greatly impact investment decisions, whereas Financial Literacy and Subjective Norms do not effect investment decisions. Financial literacy indirectly affects investment decisions through perceived behavioral control among Generation Z in Medan.