What Is the Role of FoMO in Individual Investment Behavior? The Relationship among FoMO, Involvement, Engagement, and Satisfaction

Abstract

Little research has investigated the relationship between FoMO (fear of missing out) and financial behavior and underlying this association remains largely unknown. The aim of this paper is to investigate the relationship between envy and FoMO, investment involvement, investment engagement, and satisfaction. Proposed conceptual model was tested using structural equation modeling (SEM) among 1,741 individual investors. Research data were collected by convenience sampling method from individuals who are over 18 years of age and reported financial saving or individual investment. The inclusion criteria for participation included individuals over 18 years of age who reported financial saving or individual investment. Participants completed an online survey containing measurements regarding envy, FoMO, investment involvement, investment engagement, and satisfaction. The results indicated that there are significant and positive relationship between all of the constructs. This study highlights the underlying mechanism between FoMO and individual investment behavior, which has important theoretical and practical implications for understanding decision-making and behavior in the financial area.