Pengaruh Risk Tolerance dan Herding Bias Terhadap Risk Invesment Behavior pada Mahasiswa di Samarinda dengan Financial Literacy sebagai Moderasi
DOI:
https://doi.org/10.63822/qhvac750Keywords:
risk tolerance, herding bias, Financial Literacy, Mahasiswa, risk investment behaviorAbstract
Penelitian ini bertujuan untuk menganalisis pengaruh risk tolerance dan herding bias terhadap risk investment behavior pada mahasiswa di Samarinda dengan financial literacy sebagai variabel moderasi. Penelitian ini menggunakan pendekatan kuantitatif dengan metode survei melalui kuesioner skala Likert kepada mahasiswa di Samarinda. Penelitian ini menggunakan 397 partisipan. Data dianalisis menggunakan struqture equation model (SEM) dengan alat analisis SMART-PLS. Hasil penelitian menunjukkan bahwa risk tolerance berpengaruh positif dan signifikan terhadap risk investment behavior. Herding bias tidak berpengaruh signifikan terhadap risk investment behavior. Financial literacy berpengaruh positif dan signifikan terhadap risk investment behavior. Namun, financial literacy tidak memoderasi hubungan antara risk tolerance dan risk investment behavior. Sebaliknya, financial literacy terbukti memoderasi secara signifikan hubungan antara herding bias dan risk investment behavior. Penelitian ini diharapkan dapat memberikan kontribusi bagi pengembangan program literasi keuangan serta menjadi referensi bagi akademisi, praktisi, dan pembuat kebijakan dalam meningkatkan kualitas keputusan investasi generasi muda.
Downloads
References
Anifa, A. S., & Soegiharto, S. (2023). Does The Psychology of Investment Decisions Depend on Risk Perception And Financial Literacy? MAKSIMUM, 13(2), 152. https://doi.org/10.26714/mki.13.2.2023.152-163
Hair, J., & Alamer, A. (2022). Partial Least Squares Structural Equation Modeling (PLS-SEM) in second language and education research: Guidelines using an applied example. Research Methods in Applied Linguistics, 1(3). https://doi.org/10.1016/j.rmal.2022.100027
Oktasari, D. P., Nurjaya, N., & Karyatun, S. (2023). Financial Literacy, Risk Perception, and Herding Effects on Investment Decisions. International Journal of Research and Scientific Innovation, X(VI), 22–29. https://doi.org/10.51244/IJRSI.2023.10602
Otoritas Jasa Keuangan, & Badan Pusat Statistik. (2024). Survei Nasional Literasi dan Inklusi Keuangan (SNLIK) 2024. https://www.ojk.go.id/id/berita-dan-kegiatan/publikasi/Pages/Survei-Nasional-Literasi-dan-Inklusi-Keuangan-(SNLIK)-2024.aspx
Patel, P., & Nayak, K. (2023). A Study Of Financial Behavior Based On Theory Of Planned Behavior. ShodhKosh: Journal of Visual and Performing Arts, 4(2), 1760–1768. https://doi.org/10.29121/shodhkosh.v4.i2.2023.2924
Rehmat, I., Khan, A. A., Hussain, M., & Khurshid, S. (2023). An Examination of Behavioral Factors Affecting the Investment Decisions: The Moderating Role of Financial Literacy and Mediating Role of Risk Perception. Journal of Innovative Research in Management Sciences, 4(2), 1. http://agasr.org/index.php/jirms
Savaliya, V. (2024). A study on financial literacy and investment behaviour among investors: An empirical study. Journal of Management Research and Analysis, 11(1), 24–29. https://doi.org/10.18231/j.jmra.2024.005
Downloads
Published
Issue
Section
License
Copyright (c) 2026 Adrian Azmi, M. Amin Kadafi, Hidayani Hidayani (Author)
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
