The Effect of Financial Literacy, Financial Risk Tolerance, and Financial Socialization Agents on Stock Investment Decision in the Millennial Generation

This study aims to determine financial literacy, financial risk tolerance, and financial socialization agents� effect/influence on stock investment decisions in the millennial generation. The research was conducted by distributing questionnaires to 400 millennial generation stock investors in Indonesia. The data analysis method by Structural Equation Modeling (SEM) using the SmartPLS 3.2.7 program. The results show that financial literacy has a significant effect on investment decisions. Financial risk tolerance has a significant effect on investment decisions; meanwhile, financial socialization agents do not significantly affect investment decisions.