The Role of Social Media in the Adoption of Stock Investment Applications Among Gen Z

Abstract

The purpose of this study is to explore the impact of social media on the intention to adopt stock investment applications among Generation Z. The study also delves into the parallel mediating roles of attitude, perceived behavioral control, perceived usefulness, and perceived ease of use. A cross-sectional self-administered questionnaire was conducted among Generation Z individuals in India. A total of 204 Gen Z respondents were considered for the study. The findings indicate that the excessive usage of social media has a negative influence on the intention of the young generation to adopt stock investment applications. Moreover, the results of parallel mediation highlight the significant roles of attitude, perceived behavioral control, perceived usefulness, and perceived ease of use as mediating factors between the use of social media and application adoption intention. These findings carry significant practical implications for financial service providers, finance content creators on various social media platforms, and financial advisers.