The Role of Financial Literacy and Financial Behavior on Student Investment Decisions
Abstract
This study aims to see how financial literacy and financial behaviour can affect investment decision making for university students. Methods: This study is a quantitative study. Sample determination using purposive sampling method with a total of approximately 200 people. Data collection is using a questionnaire with a Likert scale (1-5). The results of obtaining data from the questionnaire will be analysed using descriptive data analysis techniques and processed using SEM PLS software. Results: the results of the above research state that financial literacy and financial behaviour have a significant effect on investment decisions in college students. The Investment Decision Variable can be explained by Financial Literacy and Financial Behaviour by 51%.
Full text article
Generated from XML file
References
Adil, M., Singh, Y., & Ansari, M. S. (2022). How financial literacy moderate the association between behaviour biases and investment decision? Asian Journal of Accounting Research, 7(1), 17–30. https://doi.org/10.1108/AJAR-09-2020-0086
Alsemgeest, L. (2015). Arguments for and against financial literacy education: Where to go from here? International Journal of Consumer Studies, 39(2), 155–161. https://doi.org/10.1111/ijcs.12163
Asandimitra, N., Seno Aji, T., & Achmad Kautsar. (2019). Financial Behavior of Working Women in Investment Decision-Making. Information Management and Business Review, 11(2(I)), 10–20. https://doi.org/10.22610/imbr.v11i2(i).2878
Ghozali, I. (2021). Partial Least Squares Konsep, Teknik dan Aplikasi Menggunakan Program SmartPLS 3.2.9 Untuk Penlitian Empiris (3 (ed.)). Universitas Diponegoro.
Hastings, J., & Mitchell, O. S. (2020). How financial literacy and impatience shape retirement wealth and investment behaviors. Journal of Pension Economics and Finance, 19(1), 1–20. https://doi.org/10.1017/S1474747218000227
Hidayat, F., Siregar, S. R., & Nugroho, A. W. (2023). Efek Financial Management Behavior , Self Efficacy , Herding Terhadap Keputusan Investasi Generasi Z ( Effects of Financial Management Behavior , Self-Efficacy , Herding on Generation Z Investment Decisions ). Jurnal Akuntansi, Bisnis Dan Manajemen, 30(1), 61–72. https://doi.org/https://doi.org/10.35606/jabm.v30i1.1192
Huston, S. J. (2010). Measuring Financial Literacy. Journal of Consumer Affairs, 44(2), 296–316. https://doi.org/10.1111/j.1745-6606.2010.01170.x
Iram, T., Bilal, A. R., & Ahmad, Z. (2023). Investigating The Mediating Role of Financial Literacy on The Relationship Between Women Entrepreneurs’ Behavioral Biases and Investment Decision Making. Gadjah Mada International Journal of Business, 25(1), 93–118. https://doi.org/10.22146/gamaijb.65457
Lestari, M., Pangestuti, D. C., & Fadila, A. (2022). Analisis literasi keuangan, pendapatan dan persepsi risiko terhadap keputusan investasi serta perilaku keuangan sebagai variabel intervening. AKURASI: Jurnal Riset Akuntansi Dan Keuangan, 4(1), 33–46. https://doi.org/10.36407/akurasi.v4i1.602
Nofsinger, J. R. (2001). The impact of public information on investors. Journal of Banking and Finance, 25(7), 1339–1366. https://doi.org/10.1016/S0378-4266(00)00133-3
OJK. (2022). Infografis Hasil Survei Nasional Literasi dan Inklusi Keuangan Tahun 2022. https://ojk.go.id/id/berita-dan-kegiatan/info-terkini/Pages/Infografis-Survei-Nasional-Literasi-dan-Inklusi-Keuangan-Tahun-2022.aspx
Permatasari, A. (2015). 2 学力をどうとらえるのか(第1回プロジェクト研究会(2)). Jurnal Ekonomi Dan Kewirausahaan, 15(2), 28–37. http://ci.nii.ac.jp/naid/110000039498/
Perwito, Samsu, & Gunadi. (2020). Pembelajaran Keuangan Terhadap Keputusan Investasi: Efek Mediasi Literasi Keuangan. Jurnal E-Bis, 4(2), 118–130. https://jurnal.politeknik-kebumen.ac.id/index.php/E-Bis
Purnamahatty Prawirasasra, K., & Dialysa, F. (2016). Implikasi Behavioral Finance Pada Proses Pengambilan Keputusan Investasi Di Masa Pensiun. Jurnal Manajemen Dan Bisnis (Performa), 13(2), 21–36.
Raut, R. K. (2020). Past behaviour, financial literacy and investment decision-making process of individual investors. International Journal of Emerging Markets, 15(6), 1243–1263. https://doi.org/10.1108/IJOEM-07-2018-0379
Remund, D. L. (2010). Financial literacy explicated: The case for a clearer definition in an increasingly complex economy. Journal of Consumer Affairs, 44(2), 276–295. https://doi.org/10.1111/j.1745-6606.2010.01169.x
Rutherford, L. G., & Devaney, S. A. (2009). Utilizing the theory of planned behavior to. Journal of Financial Counseling and Planning, 20(2), 48–63.
Safitri, M., & Sari, R. C. (2021). the Effect of Financial Knowledge and the Use of E-Money Toward Financial Behavior of Undergraduate Students Faculty of Economics Yogyakarta State University. Nominal: Barometer Riset Akuntansi Dan Manajemen, 10(1), 31–46. https://doi.org/10.21831/nominal.v10i1.32062
SAPIRI, M., & AWALUDDIN, M. (2023). Distribution of Financial Attitude, Financial Behavior, Financial Knowledge and Financial Literacy on the Investment Decision Behavior of Young Investors. Journal of Distribution Science, 21(11), 45–53. https://doi.org/10.15722/jds.21.11.202311.45
Yates, D., & Ward, C. (2011). Financial Literacy : Examining. Journal of Business Education, 4(1), 65–78.
Alsemgeest, L. (2015). Arguments for and against financial literacy education: Where to go from here? International Journal of Consumer Studies, 39(2), 155–161. https://doi.org/10.1111/ijcs.12163
Asandimitra, N., Seno Aji, T., & Achmad Kautsar. (2019). Financial Behavior of Working Women in Investment Decision-Making. Information Management and Business Review, 11(2(I)), 10–20. https://doi.org/10.22610/imbr.v11i2(i).2878
Ghozali, I. (2021). Partial Least Squares Konsep, Teknik dan Aplikasi Menggunakan Program SmartPLS 3.2.9 Untuk Penlitian Empiris (3 (ed.)). Universitas Diponegoro.
Hastings, J., & Mitchell, O. S. (2020). How financial literacy and impatience shape retirement wealth and investment behaviors. Journal of Pension Economics and Finance, 19(1), 1–20. https://doi.org/10.1017/S1474747218000227
Hidayat, F., Siregar, S. R., & Nugroho, A. W. (2023). Efek Financial Management Behavior , Self Efficacy , Herding Terhadap Keputusan Investasi Generasi Z ( Effects of Financial Management Behavior , Self-Efficacy , Herding on Generation Z Investment Decisions ). Jurnal Akuntansi, Bisnis Dan Manajemen, 30(1), 61–72. https://doi.org/https://doi.org/10.35606/jabm.v30i1.1192
Huston, S. J. (2010). Measuring Financial Literacy. Journal of Consumer Affairs, 44(2), 296–316. https://doi.org/10.1111/j.1745-6606.2010.01170.x
Iram, T., Bilal, A. R., & Ahmad, Z. (2023). Investigating The Mediating Role of Financial Literacy on The Relationship Between Women Entrepreneurs’ Behavioral Biases and Investment Decision Making. Gadjah Mada International Journal of Business, 25(1), 93–118. https://doi.org/10.22146/gamaijb.65457
Lestari, M., Pangestuti, D. C., & Fadila, A. (2022). Analisis literasi keuangan, pendapatan dan persepsi risiko terhadap keputusan investasi serta perilaku keuangan sebagai variabel intervening. AKURASI: Jurnal Riset Akuntansi Dan Keuangan, 4(1), 33–46. https://doi.org/10.36407/akurasi.v4i1.602
Nofsinger, J. R. (2001). The impact of public information on investors. Journal of Banking and Finance, 25(7), 1339–1366. https://doi.org/10.1016/S0378-4266(00)00133-3
OJK. (2022). Infografis Hasil Survei Nasional Literasi dan Inklusi Keuangan Tahun 2022. https://ojk.go.id/id/berita-dan-kegiatan/info-terkini/Pages/Infografis-Survei-Nasional-Literasi-dan-Inklusi-Keuangan-Tahun-2022.aspx
Permatasari, A. (2015). 2 学力をどうとらえるのか(第1回プロジェクト研究会(2)). Jurnal Ekonomi Dan Kewirausahaan, 15(2), 28–37. http://ci.nii.ac.jp/naid/110000039498/
Perwito, Samsu, & Gunadi. (2020). Pembelajaran Keuangan Terhadap Keputusan Investasi: Efek Mediasi Literasi Keuangan. Jurnal E-Bis, 4(2), 118–130. https://jurnal.politeknik-kebumen.ac.id/index.php/E-Bis
Purnamahatty Prawirasasra, K., & Dialysa, F. (2016). Implikasi Behavioral Finance Pada Proses Pengambilan Keputusan Investasi Di Masa Pensiun. Jurnal Manajemen Dan Bisnis (Performa), 13(2), 21–36.
Raut, R. K. (2020). Past behaviour, financial literacy and investment decision-making process of individual investors. International Journal of Emerging Markets, 15(6), 1243–1263. https://doi.org/10.1108/IJOEM-07-2018-0379
Remund, D. L. (2010). Financial literacy explicated: The case for a clearer definition in an increasingly complex economy. Journal of Consumer Affairs, 44(2), 276–295. https://doi.org/10.1111/j.1745-6606.2010.01169.x
Rutherford, L. G., & Devaney, S. A. (2009). Utilizing the theory of planned behavior to. Journal of Financial Counseling and Planning, 20(2), 48–63.
Safitri, M., & Sari, R. C. (2021). the Effect of Financial Knowledge and the Use of E-Money Toward Financial Behavior of Undergraduate Students Faculty of Economics Yogyakarta State University. Nominal: Barometer Riset Akuntansi Dan Manajemen, 10(1), 31–46. https://doi.org/10.21831/nominal.v10i1.32062
SAPIRI, M., & AWALUDDIN, M. (2023). Distribution of Financial Attitude, Financial Behavior, Financial Knowledge and Financial Literacy on the Investment Decision Behavior of Young Investors. Journal of Distribution Science, 21(11), 45–53. https://doi.org/10.15722/jds.21.11.202311.45
Yates, D., & Ward, C. (2011). Financial Literacy : Examining. Journal of Business Education, 4(1), 65–78.
Authors
Wijayanti, R. P., Azizah, E. N., & Kurniawan, H. (2024). The Role of Financial Literacy and Financial Behavior on Student Investment Decisions . Agregat: Jurnal Ekonomi Dan Bisnis, 8(1), 1–8. https://doi.org/10.22236/agregat_vol8.i1/14023
Copyright and license info is not available