Predicting retail stock investment decisions in fintech applications

This study aims to analyze the influence of Fear of Missing Out (FOMO), financial literacy, platform trust, risk perception, and motivation on stock investment decisions among Indonesian retail investors. A type of causal associative research was used in this study, which uses a quantitative approach. The data analyzed came from initial primary data collected through the distribution of questionnaires to 403 Indonesian retail stock investors. The data analysis technique used was Partial Least Squares Structural Equation Modeling (PLS-SEM). The results showed that all five independent factors, namely FOMO, financial literacy, platform trust, risk perception, and motivation had a positive and significant impact on stock investment decisions. This indicates that investor behavior in the digital era is complex and multidimensional. The implications of this research are expected to contribute to investors to be more rational in making investment decisions, for platform providers to increase user trust, and for regulators in increasing public financial literacy.