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AGGRESSIVE INVESTOR BEHAVIOR IN THE ERA OF SOCIAL MEDIA: A GENDERED PERSPECTIVE

Muhammad Rizal et al.

RAE-Revista de Administracao de Empresas2025https://doi.org/10.1590/s0034-759020250508article
AJG 1ABDC C
Weight
0.37

What the paper says

ABSTRACT This study explores the relationship between social media influencers (SMIs), overconfidence (OC), and aggressive investor behavior (AIB), with a particular focus on gender differences, addressing the limited research on this topic. Using data from 420 investors in Indonesia, collected through a questionnaire and analyzed using structural equation modeling, this research examines three key objectives: the direct effect of SMIs and OC on AIB, the mediating role of OC, and the moderating effect of SMIs across genders. The results reveal that both SMIs and OC significantly influence AIB for both men and women, with OC serving as a mediator. Notably, the effect of SMIs on OC, which in turn drives AIB, is stronger among women than men. These findings contribute to the advancement of financial behavior theory and market microstructure theory by clarifying the role of SMIs and OC in shaping AIB. Beyond theoretical contributions, the results also highlight potential social impact in the Global South, particularly for female investors, who may experience financial losses and increased household-level economic stress, with broader potential to deepen existing socio-economic inequalities.

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https://doi.org/https://doi.org/10.1590/s0034-759020250508

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@article{muhammad2025,
  title        = {{AGGRESSIVE INVESTOR BEHAVIOR IN THE ERA OF SOCIAL MEDIA: A GENDERED PERSPECTIVE}},
  author       = {Muhammad Rizal et al.},
  journal      = {RAE-Revista de Administracao de Empresas},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1590/s0034-759020250508},
}

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AGGRESSIVE INVESTOR BEHAVIOR IN THE ERA OF SOCIAL MEDIA: A GENDERED PERSPECTIVE

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Evidence weight

0.37

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.16 × 0.4 = 0.06
M · momentum0.53 × 0.15 = 0.08
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.