THE IMPACT OF TECHNOLOGY AND ARTIFICIAL INTELLIGENCE (AI) RISK PERCEPTIONS ON INVESTMENT DECISION-MAKING BEHAVIOR OF GENERATION Z IN HANOI

Abstract

This study aims to develop an analytical model examining the impact of technological and artificial intelligence (AI) risk perceptions on the investment decision-making behavior of Generation Z in Hanoi. Based on the Technology Acceptance Model (TAM) and the Risk Perception Theory, the authors construct a research framework comprising the following variables: Technological Risk Perception, Perception and Attitude toward AI, Financial Knowledge, Investment Intention, and Investment Decision, along with two moderating variables being Gender and Field of Study. Data were collected through an online questionnaire using a 5-point Likert scale, yielding 436 valid responses. Using linear regression analysis to test the model, the results reveal significant effects of risk perception and financial knowledge on both investment intention and decision, as well as differences across gender and field of study. The study contributes theoretically by integrating technological and AI-related risks into a comprehensive model, meanwhile offers practical implications for financial institutions, FinTech firms, and regulatory bodies in designing transparent, secure, and youth-oriented AI-based investment products