How do Digitalization and the Fintech Phenomenon Affect Financial Decision-Making in the Younger Generation?

ACTA POLYTECHNICA HUNGARICA 18 : 11 pp. 191-208. , 18 p. (2021)

Posted: 6 Mar 2023

See all articles by Eva Pinter

Eva Pinter

University of Pécs - Faculty of Business and Economics

Peter Bago

Corvinus University of Budapest

Laszlo Berenyi

Corvinus University of Budapest

Levente Molnar

Sony Europe BV

Nikolett Deutsch

University of Pécs - Faculty of Business and Economics

Gergo Szigeti

University of Pécs

Tibor Pinter

Budapest Business School

Date Written: 2021

Abstract

Generation Z, who can handle almost everything online, from the picture taken by their mobile phone to purchasing or transferring money. Therefore, using several tech solutions, they are not looking for traditional banking solutions, like the ones where physical presence is needed. Their wish is to obtain secure, fast, easy financial solutions, and services. Additionally, to ensure payments can be easily made and investments are available on hand. All of this being virtually available any time when it is needed, even from their mobile phones and also providing a high-level of personalization possibilities. In our study, we surveyed risk attitudes governing individual investment decisions based on primary research conducted on a large sample size among university students. When surveying risk attitudes, we presented a group of university students studying in Hungary with questions of a test published in an international journal article by John Grable and Ruth H. Lytton (Grable – Lytton, 1999). Between early December 2020 and 15 January 2021, more than 2,000 students filled out our questionnaire. The results of the questionnaire show that risk attitude values among the group of Hungarian university students are in line with international experiences. Primary data collection will continue in the spring of 2021, and it will subsequently allow a comparison to be made between the attitudes to risk and investment of university students from different fields of study. The composition of the questionnaire's respondents will make it possible to survey and compare the 'Z’ generation’s attitude with that of other generations.

Keywords: digitalization, fintech, investment, Grable-Lytton test, COVID-19 pandemic, Finfluencer

Suggested Citation

Pinter, Eva and Bago, Peter and Berenyi, Laszlo and Molnar, Levente and Deutsch, Nikolett and Szigeti, Gergo and Pinter, Tibor, How do Digitalization and the Fintech Phenomenon Affect Financial Decision-Making in the Younger Generation? ( 2021). ACTA POLYTECHNICA HUNGARICA 18 : 11 pp. 191-208. , 18 p. (2021), Available at SSRN: https://ssrn.com/abstract=4362368

Eva Pinter

University of Pécs - Faculty of Business and Economics ( email )

Rákóczi út 80
Pécs, 7622
Hungary

Peter Bago (Contact Author)

Corvinus University of Budapest ( email )

Fovam ter 8
Budapest, 1093
Hungary

HOME PAGE: http://www.uni-corvinus.hu/index.php?id=24294&neptunKod=TRUDSV

Laszlo Berenyi

Corvinus University of Budapest

Levente Molnar

Sony Europe BV

Nikolett Deutsch

University of Pécs - Faculty of Business and Economics ( email )

Rákóczi út 80
Pécs, 7622
Hungary

Gergo Szigeti

University of Pécs

Tibor Pinter

Budapest Business School

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