Proceedings of the 9th International Conference on Accounting, Management, and Economics 2024 (ICAME 2024)

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Determinants of Investment Decisions in Capital Markets with Trust as a Moderator

Authors
Sabrina Sabrina1, *, Haliah Haliah1, Muh. Irdam Ferdiansah1
1Hasanuddin University, Makassar, Indonesia
*Corresponding author. Email: sabrina23a@student.unhas.ac.id
Corresponding Author
Sabrina Sabrina
Available Online 30 July 2025.
DOI
10.2991/978-94-6463-758-8_105How to use a DOI?
Keywords
Social Media Influencer; Risk Perception; Return Expectation; Investment Decision; Trust
Abstract

This study aims to examine the influence of social media influencers, risk perception, and return expectations on investment decisions in the capital market, with trust as a moderating variable. This study uses a quantitative approach with primary data obtained through purposive sampling technique, involving 100 respondents from generation Z (born 1995-2012) who live in Makassar City. Data were collected through questionnaires using Google Forms and analysed with SPSS version 26, using multiple regression tests and moderation regression analysis. The results showed that social media influencers, risk perception, and return expectation have a positive influence on investment decisions. In addition, the trust variable is proven to pseudo-moderate the influence of the three variables on investment decisions. These findings suggest that the level of trust can strengthen or weaken the impact of social media influencers, risk perceptions, and return expectations in influencing investment decisions in the capital market, and emphasise the important role of trust, especially among young investors.

Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 9th International Conference on Accounting, Management, and Economics 2024 (ICAME 2024)
Series
Advances in Economics, Business and Management Research
Publication Date
30 July 2025
ISBN
978-94-6463-758-8
ISSN
2352-5428
DOI
10.2991/978-94-6463-758-8_105How to use a DOI?
Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Sabrina Sabrina
AU  - Haliah Haliah
AU  - Muh. Irdam Ferdiansah
PY  - 2025
DA  - 2025/07/30
TI  - Determinants of Investment Decisions in Capital Markets with Trust as a Moderator
BT  - Proceedings of the 9th International Conference on Accounting, Management, and Economics 2024 (ICAME 2024)
PB  - Atlantis Press
SP  - 1289
EP  - 1308
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-758-8_105
DO  - 10.2991/978-94-6463-758-8_105
ID  - Sabrina2025
ER  -