What Modern Generation Z Really is Like - Stock Market Investment Strategies and ESG

• Autorzy: Katarzyna Niewińska , Michał Mijal
• Języki publikacji: EN

Abstrakty

EN

Purpose: The purpose of this paper was to investigate how important ESG is as a factor influencing Generation Z's investment strategies. Design/methodology/approach: In order to achieve these authors decided to conduct a 10-week long experiment and collect the data both qualitative and quantitative. The data was gathered via an online questionnaire and during the classes with students participating in the experiment. Findings: The main finding of the research is that the majority of the students did not consider ESG factors in their decision-making process. In spite of the visible knowledge on and awareness of that matter, almost none of the experiments' participants admitted to taking ESG into account during the development of their investment strategies. Research limitations/implications: Main limitation of the research is the context of the experiments - they were organized during classes which could have impacted obtained results. In order to mitigate this factor a new group of students will be investigated in a different environment in the following months. Practical implications: Possible practical implication of the research is lowering of the pressure for the companies to align with ESG regulations and legal ramifications when they want to attract new investors from the youngest generation. Social implications: Social ramification of the findings is not to be neglected; if Generation Z is not as keen to lean onto ESG while making financial decisions as suspected, a possible shift in perceiving these issues by the mass audience is to be expected in the years to come. Originality/value: The main value of this paper is possible contradicting of a well-known truth about Generation Z that they are the most environmentally savvy and conscious of all generations. It is entirely possible that ESG is just a phenomenon essential for only a marginal group of customers and majority of investors making their investment decisions disregard this issue entirely. The main goal of the paper is to examine stock market investment strategies of Generation Z representatives who have a certain background in the field of finance. The study was conducted on a group of Polish students of the Faculty of Management of the University of Warsaw. Participants were asked to invest in the stock market using the GWP Tr@der investment platform in real time and over a period of eight weeks. Two research methods were applied: (1) a qualitative study of the participants' investment portfolio strategies, and (2) a survey containing quantitative and qualitative questions. The study sample included, respectively, (1) 626 and (2) 314 students. It has been concluded that, when devising their investment strategies, representatives of Generation Z rely primarily on their knowledge and on current market information. Although some of them take ESG factors into account in their strategies, it cannot be considered a strong trend. New insights on ESG factors in investment strategies pursued by Generation Z are the paper's contribution to literature. The main limitation of the study is its scope in terms of the sample of study participants. (original abstract)

Słowa kluczowe

PL

Pokolenie Z; Rynek kapitałowy; Giełda; Strategia inwestycyjna

EN

Generation Z; Capital market; Stock exchange; Investment strategy

• Czasopismo: Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska
• Rocznik: 2023
• Numer: z. 184 Współczesne zarządzanie = Contemporary Management
• Strony: 393-407

Twórcy

autor

Katarzyna Niewińska

• University of Warsaw

autor

Michał Mijal

• University of Warsaw

Bibliografia

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Identyfikatory

DOI

10.29119/1641-3466.2023.184.19