Social Media, Financial Risk Tolerance, and Indonesian Millennial Generation Investor Behavior

The purpose of the study is to prove that social media has an effect on behavior millennial investors mediated by financial risk tolerance. data collected through questionnaire was processed and tested for validity reliability construct. This uses Structure Equational Modelling (SEM) passes criteria model fit quality indices determine strength structural before testing hypothesis. found tolerance variables directly affect investor behavior, affects able mediate relations with behavior. mediating very strong as a provider market information investor’s stock trading both buying selling. also tend make biased decisions when faced bear conditions, namely showing overreaction