Unpacking Financial Herding Behaviour: A Conceptual Study of Youth and Working Adults in Chongqing, China

This study delves into the intricate dynamics of financial herding behaviour among youth and working adults in Chongqing, China. Drawing on a multifaceted approach, this study examines the determinants of economic herding behaviour, encompassing socioeconomic status, age, access to financial education, risk perception, and financial attitudes as independent variables. This study sheds light on the nuanced factors shaping financial decision-making patterns within this demographic, recognising their unique financial needs and aspirations. Furthermore, this study introduced financial confidence as a mediating variable, acknowledging its pivotal role in influencing individuals’ propensity to engage in financial herding. By exploring the interplay between these determinants and the mediating influence of financial confidence, this study aims to provide a comprehensive understanding of the complex web of factors that impact financial herding behaviour. This research contributes to the existing literature by offering insights into the financial behaviours of Chongqing’s youth and working adults, considering the region’s distinctive cultural and contextual influences. Ultimately, the findings aim to inform policymakers, financial educators, and practitioners, facilitating the development of tailored interventions to enhance financial literacy and confidence while mitigating the prevalence of economic herding behaviour in this population.