Proceedings of the 8th International Conference on Advanced Research in Management, Business and Finance
Year: 2024
DOI:
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Airbnb Price Prediction Using Machine Learning
Quanfang Tan
ABSTRACT:
This study investigates the factors contributing to the misuse of Buy-Now-Pay-Later (BNPL) services among Millennials and Generation Z in Malaysia, with a particular focus on the mediating role of compulsive buying behavior. Utilizing a cross-sectional design, data were gathered from 309 respondents via an online survey distributed through social media platforms. The study examined the relationships between six key factors—materialism, impulsive buying, self-esteem, power prestige, risk-taking, and budgetary constraints—and BNPL misuse. Structural equation modeling (SEM) was employed to analyze the data. The results reveal that compulsive buying significantly mediates the relationship between impulsive buying, power prestige, budgetary constraints, and the misuse of BNPL services. Specifically, high levels of impulsive buying, power prestige, and budgetary constraints were associated with increased compulsive buying tendencies, which in turn led to higher levels of BNPL misuse. Conversely, materialism, self-esteem, and risk-taking did not exhibit a direct relationship with BNPL misuse, although power prestige was found to have a direct impact on BNPL misuse. These findings suggest that interventions targeting compulsive buying behaviors could be crucial in mitigating the misuse of BNPL services among young adults. The study’s insights are valuable for policymakers, financial educators, and BNPL service providers in developing strategies to promote responsible usage of these financial products, thereby enhancing the financial well-being of consumers in the evolving digital economy.
keywords: Buy-Now-Pay-Later (BNPL), Compulsive buying, Millennials, Structural equation modelling (SEM)