Is It Worth Imitating Other Investors’ Determinants of Effective Investment Strategies Among Students
Is It Worth Imitating Other Investors’ Determinants of Effective Investment Strategies Among Students

Summary/Abstract: Purpose: This study examines the investment strategies of Generation Z, focusing on howthey define and implement these strategies. It explores the factors influencing their decision-making, such as risk aversion and time horizon, and investigates the impact of social interac-tions on their investment choices.Design/ methodology/approach: The research involved a total of 626 participants across twoacademic years (218 in 2022 and 408 in 2023), who developed and executed virtual invest-ment strategies over a seven-week period using GPWtrader, an educational platform by theWarsaw Stock Exchange Foundation. Weekly meetings were held where participants presentedtheir strategies, market observations, and results. After the investment period, a quantita-tive study was conducted with 314 students from the total sample (106 in 2021/22 and 208in 2022/23), collecting data on their investment goals, instrument selection, and strategyadaptation methods.Findings: The main finding is that any strategy turned out to bring a better return rate thana strategy that was constantly shifting. Also, different strategies were adopted and manystudents were imitating the strategies of their peers, suggesting that the social aspect of theinvestment decision-making process should not be underestimated.Research limitations/implications: The study’s main limitations are its focus on a single,homogeneous group and its sample size, which limited the use of advanced statistical analy-ses. The authors plan to extend the research to compare the students’ returns with marketportfolio returns, analyze correlations between strategies and outcomes, and include othersub-populations of Generation Z.Originality/value: This paper extends the perspective on the investment behaviors of Genera-tion Z, emphasizing the importance of consistency in strategy execution and the influence ofsocial interactions. It makes a significant contribution to understanding generational differ-ences in financial decision-making, offering practical implications for financial education andinvestment training.

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