The impact of FOMO on investment decisions in Gold: The case of Vietnam
Authors: Xuan Hung Nguyen and Manh Dung Tran, Dieu Anh Bui, Nam Anh Le, Quynh Trang Nguyen, Kim Ngan Nguyen, Thi Minh Phuong Nguyen
CONFERENCE PROCEEDINGS 7th International Conference on Contemporary Issues in ECONOMICS, MANAGEMENT AND BUSINESS October 17th - 18th, 2024, Hanoi - Vietnam
: Volume 1, : Pg 604 - 627
Publishing year: 10/2024
This research investigates the impact of the Fear of Missing Out (FOMO) on gold
investment decisions in Vietnam. Psychological determinants such as loss aversion
and herd behavior are analyzed to determine how they influence FOMO and gold
investment decisions. Data were collected from 587 responses, and multi-group
analysis using PLS-SEM software was conducted to examine differences among
various groups within the sample. The results indicate that FOMO significantly
influences investment decisions in gold, especially when combined with loss aversion
and herd behavior. Anticipated regret has a negative relationship, while subjective
expected pleasure has a positive relationship with gold investment decisions. To
mitigate the impact of FOMO, the study suggests enhancing financial education and
developing decision-support tools. In addition, the research emphasizes the
importance of effective communication in managing investor psychology
FOMO, gold investment, herd behavior, investment decision, loss aversion