No. 119 (2025)

Artykuły

Investment risk propensity among generation Z - temperament and interest factors

Published 2025-12-30

  • Kinga Halama
    • ,
  • Agnieszka Telega

Kinga Halama
Krakow University of Economics

Agnieszka Telega
Krakow University of Economics

Cover of World of Real Estate Journal, issue 119.

Abstract

Objective: The study aims to explore the impact of temperament and interest in investment topics on the propensity to take financial risks among Generation Z, and it also seeks to identify which investment assets this generation is most interested in and what factors influence their investment decisions.
Material and methods: A survey was conducted using a research survey, aimed at students aged 19 to 28 from various fields of study. Respondents self-assessed their temperament based on four types (sanguine, choleric, melancholic, and phlegmatic) and their level of interest in investment topics. Chi-square tests were used to analyse the relationship between temperament, investment interest, and risk-taking propensity.
Findings: The results show that sanguine and choleric individuals are more inclined to take financial risks than melancholic and phlegmatic individuals. Furthermore, respondents with a higher interest in investment topics demonstrated a greater willingness to engage in risky investment decisions. Deposits, collectables, real estate and cryptocurrencies were the most preferred investment options.
Research limitations: The study is limited by its sample size and focus on a specific age group (19-28), primarily students, which may affect the generalizability of the results. Future research could explore a more diverse population. 
Research implications: The findings provide information on risk-taking behaviour and investment preferences among Generation Z, with potential implications for financial education and investment market strategies.

Keywords

generation Z, behavioral economics, investment decisions, investment risk

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