{"id":{"repo_id":"uwtsd","oai_identifier":"oai:repository.uwtsd.ac.uk:2386"},"canonical_url":"https://search.dev.ndltd.org/etd/uwtsd/oai:repository.uwtsd.ac.uk:2386","repository":{"repo_id":"uwtsd","name":"University of Wales Trinity Saint David","base_url":"https://repository.uwtsd.ac.uk/cgi/oai2"},"display":{"title":"A critical assessment of what influences and biases the financial decision-making behaviour of the millennial investor.","abstract":"The study explored the research question: What are the key factors, drivers and biases that influence the confidence of financial decision-making behaviour of the millennial investor? The research aim was to identify key factors that influence financial decision-making of millennials. Emerging research on human decision-making behaviour is revealing generational changes in influences, technology, and communication needs. The COVID-19 Pandemic and the 2020 US stock market collapse, with subsequent record highs in six months, have indicated that traditional economic models may be insufficient in understanding millennial investor behaviour. The United States is set to see the largest intergenerational wealth transfer in history, $68 trillion, as baby boomers pass wealth to their millennial beneficiaries. This research found that millennial behavioural biases, key influences, an understanding of who and what they trust, and their financial education, is required for financial professionals to better communicate financial recommendations. To achieve the research goal, literature was reviewed on economic decision-making theory, Behavioural Finance with cognitive and emotional biases, along with the millennial discussion. Interconnected patterns and ten key themes emerged around their traits and characteristics. To establish a conceptual framework, a pragmatic paradigm was embraced. First, a Delphi study was performed with 27 leaders who provided views, and helped identify components of millennial decision-making. From those findings, a quantitative survey was developed using Likert statements, producing over 1,000 responses. Multivariant analyses were performed on the survey results testing the cogency of the conceptual framework. This research contributes to academic literature by contributing a framework for understanding the attributes that contribute to the confidence a millennial has in financial decision-making along with a practical framework for financial professional use. The findings indicate, that by understanding what drives financial decision-making confidence and behaviour, differentiated communication happens through a demonstration of aligned values and a customized delivery of information. This lays the foundation for a financial professional to build trust to attract, or retain millennial investors.","abstract_html":"The study explored the research question: What are the key factors, drivers and biases that influence the confidence of financial decision-making behaviour of the millennial investor? The research aim was to identify key factors that influence financial decision-making of millennials. Emerging research on human decision-making behaviour is revealing generational changes in influences, technology, and communication needs. The COVID-19 Pandemic and the 2020 US stock market collapse, with subsequent record highs in six months, have indicated that traditional economic models may be insufficient in understanding millennial investor behaviour. The United States is set to see the largest intergenerational wealth transfer in history, $68 trillion, as baby boomers pass wealth to their millennial beneficiaries. This research found that millennial behavioural biases, key influences, an understanding of who and what they trust, and their financial education, is required for financial professionals to better communicate financial recommendations. To achieve the research goal, literature was reviewed on economic decision-making theory, Behavioural Finance with cognitive and emotional biases, along with the millennial discussion. Interconnected patterns and ten key themes emerged around their traits and characteristics. To establish a conceptual framework, a pragmatic paradigm was embraced. First, a Delphi study was performed with 27 leaders who provided views, and helped identify components of millennial decision-making. From those findings, a quantitative survey was developed using Likert statements, producing over 1,000 responses. Multivariant analyses were performed on the survey results testing the cogency of the conceptual framework. This research contributes to academic literature by contributing a framework for understanding the attributes that contribute to the confidence a millennial has in financial decision-making along with a practical framework for financial professional use. The findings indicate, that by understanding what drives financial decision-making confidence and behaviour, differentiated communication happens through a demonstration of aligned values and a customized delivery of information. This lays the foundation for a financial professional to build trust to attract, or retain millennial investors.","abstract_has_math":false,"creators":["Giletto-Barney, Stephanie"],"institution":"University of Wales Trinity Saint David","degree_name":"dprof","degree_level":"doctoral","degree_discipline":null,"degree_department":null,"school":null,"contributors":[],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2023,"date_issued":"2023-04","date_published":"2023-04","updated_at":"2026-07-24T05:52:56Z","subjects":["HB Damcaniaeth Economaidd"],"languages":[],"rights":[],"rights_urls":[],"identifier_entries":[{"key":"dc:identifier.grantnumber","label":"Dc Identifier Grantnumber","values":["UWTSD"],"render_values":[{"text":"UWTSD","href":null,"code":true}]}]},"links":{"outbound_url":"https://doi.org/10.82227/repository.uwtsd.ac.uk.00002386","outbound_label":"DOI","outbound_source":"dc:identifier.doi"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor.sponsor","label":"Sponsor","values":["University of Wales Trinity Saint David"]},{"key":"dc:creator","label":"Author","values":["Giletto-Barney, Stephanie"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date","label":"Dc Date","values":["2023-04-14"]},{"key":"dc:date.issued","label":"Date","values":["2023-04"]},{"key":"dc:publisher.commercial","label":"Dc Publisher Commercial","values":["University of Wales Trinity Saint David"]},{"key":"dc:publisher.department","label":"Dc Publisher Department","values":["Traethodau PhD","Institute of Management and Health: Business, Finance and Management"]},{"key":"dc:publisher.institution","label":"Dc Publisher Institution","values":["University of Wales Trinity Saint David"]},{"key":"dc:relation.isreferencedby","label":"Dc Relation Isreferencedby","values":["https://repository.uwtsd.ac.uk/id/eprint/2386/"]},{"key":"dc:type","label":"Dc Type","values":["Gosodiad"]},{"key":"dc:type.qualificationlevel","label":"Dc Type Qualificationlevel","values":["doctoral"]},{"key":"dc:type.qualificationname","label":"Dc Type Qualificationname","values":["dprof"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["HB Damcaniaeth Economaidd"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier.doi","label":"DOI","values":["10.82227/repository.uwtsd.ac.uk.00002386"]},{"key":"dc:identifier.grantnumber","label":"Dc Identifier Grantnumber","values":["UWTSD"]},{"key":"dc:identifier.uri","label":"Identifier URI","values":["https://repository.uwtsd.ac.uk/id/eprint/2386/6/2386%20Giletto-Barney%20Stephanie%20%282023%29%20A%20Critical%20Assessment.pdf"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description.abstract","label":"Abstract","values":["The study explored the research question: What are the key factors, drivers and biases that influence the confidence of financial decision-making behaviour of the millennial investor? The research aim was to identify key factors that influence financial decision-making of millennials. Emerging research on human decision-making behaviour is revealing generational changes in influences, technology, and communication needs. The COVID-19 Pandemic and the 2020 US stock market collapse, with subsequent record highs in six months, have indicated that traditional economic models may be insufficient in understanding millennial investor behaviour. The United States is set to see the largest intergenerational wealth transfer in history, $68 trillion, as baby boomers pass wealth to their millennial beneficiaries. This research found that millennial behavioural biases, key influences, an understanding of who and what they trust, and their financial education, is required for financial professionals to better communicate financial recommendations. To achieve the research goal, literature was reviewed on economic decision-making theory, Behavioural Finance with cognitive and emotional biases, along with the millennial discussion. Interconnected patterns and ten key themes emerged around their traits and characteristics. To establish a conceptual framework, a pragmatic paradigm was embraced. First, a Delphi study was performed with 27 leaders who provided views, and helped identify components of millennial decision-making. From those findings, a quantitative survey was developed using Likert statements, producing over 1,000 responses. Multivariant analyses were performed on the survey results testing the cogency of the conceptual framework. This research contributes to academic literature by contributing a framework for understanding the attributes that contribute to the confidence a millennial has in financial decision-making along with a practical framework for financial professional use. The findings indicate, that by understanding what drives financial decision-making confidence and behaviour, differentiated communication happens through a demonstration of aligned values and a customized delivery of information. This lays the foundation for a financial professional to build trust to attract, or retain millennial investors."]},{"key":"dc:format","label":"Dc Format","values":["text"]},{"key":"dc:title","label":"Title","values":["A critical assessment of what influences and biases the financial decision-making behaviour of the millennial investor."]}]}],"canonical_facts":{"dc:contributor.sponsor":["University of Wales Trinity Saint David"],"dc:creator":["Giletto-Barney, Stephanie"],"dc:date":["2023-04-14"],"dc:date.issued":["2023-04"],"dc:description.abstract":["The study explored the research question: What are the key factors, drivers and biases that influence the confidence of financial decision-making behaviour of the millennial investor? 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The findings indicate, that by understanding what drives financial decision-making confidence and behaviour, differentiated communication happens through a demonstration of aligned values and a customized delivery of information. 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