Factors Influencing Investment Decisions via Digital Platforms among Generation X, Y, and Z in Bangkok

Abstract

This research aims to (1) study the attitudes of Generation X, Y and Z toward investing through digital platforms, (2) study factors including investment attitudes, investment behavior, technology acceptance and risk perception, and investment of Generation X, Y and Z, and (3) analyze the factors influencing investment decision through digital platforms of Generation X, Y and Z. The quantitative research was conducted using convenience sampling with 400 investors in Bangkok. The data collection instrument was an online questionnaire. Descriptive statistics, including frequency and percentage, were used, and inferential statistics, including multiple regression analysis, were employed. The research findings indicate that the majority of the sample, which was female, invested through digital platforms (47.3%). Participants aged 36–45 years accounted for the highest proportion of investment (31.8%). Most participants held a bachelor’s degree (53.0%) and had an average monthly income below 30,000 baht (39.75%). The most commonly used digital investment platforms were the Streaming application and Bitkub, respectively.

Hypothesis testing revealed that all generations had significantly high investment attitudes at a p-value of 0.05. Multiple regression analysis revealed that attitudes (β = 0.18), investment behavior (β = 0.13), technology acceptance (β = 0.24), and risk perception (β = 0.14) positively influenced investment decisions. The model explained 19% of the variance in investment decision-making behavior (R² = 0.19), which is low. The findings of this research have practical implications across multiple dimensions, including public policy design, marketing strategy development, financial platform development, and targeted financial literacy promotion for people across all age groups.