Empirical associations between financial management confidence, trust in social media, confidence in FinTech, and sustainable investment decisions: the European Union case
摘要
Given that the current focus of the European Commission is on enhancing sustainable financial investment in the European Union, this research seeks to find an association of financial management confidence and trust in social media with sustainable investment decisions. Furthermore, this study investigates the possible intervening role of one’s confidence in FinTech. For this purpose, we use survey data published by the European Commission in 2022 and employ suitable regression and mediation analysis techniques. The results show that confidence in FinTech significantly mediates the association of financial management confidence and trust in social media with sustainable investment decisions. These findings remain robust after applying multiple sensitivity tests and endogeneity checks. The results extend self-efficacy and social learning theories by arguing that confidence in managing financial matters digitally and trust in social media are vital factors in fostering sustainable financial investment in the European Union. Finally, this research offers theoretical and practical implications and proposes future research directions.