Risk Aversion, Investment Intention, and Social Platform Influence as Determinants of theYoung Generation's Interest in Sharia-Based Green Stocks

Abstract

Abstract — This research aims to identify investor risk profile and analyze factors influencing the young generation’s (Gen Y and Z) 
interest, who currently dominate the Indonesian capital market, in investing Sharia-based green stocks. Research data were obtained 
through a questionnaire involving 404 respondents from Jakarta, Bogor, Depok, Tangerang, and Bekasi. The research methods used 
included descriptive analysis, factor analysis, and mean analysis. The results showed that investors interested in Sharia-based green stocks 
predominantly have a moderate risk profile. Investment awareness factors, comprising green investment intention, risk-aversion, risky 
investment intention, and social platform influence, explain the determinants of Gen Y and Z's interest in Sharia-based green stocks. The 
most dominant factor is social media platforms’ influence. This is primarily because individuals who engage in environmentally conscious 
behavior are perceived as trendy. Therefore, securities companies can use social media and public figures popular among the younger 
generation to introduce and offer investment in Sharia-based green stocks.