Pengaruh Financial Behavior, Investment Motivation, Risk Tolerance Terhadap Keputusan Berinvestasi Saham(Survei Kasus Mahasiswa Fakultas Ekonomi dan Bisnis Universitas Slamet Riyadi Surakarta)
DOI:
https://doi.org/10.63822/bkqq9257Keywords:
Financial Behavior; Investment Motivation ; Risk Tolerance; Stock Investment DecisionAbstract
Stock investment decision is an important aspect of financial management, particularly for university students as prospective investors who have great potential to contribute to the development of the Indonesian capital market. This study aims to examine the influence of financial behavior, investment motivation, and risk tolerance on stock investment decisions among students of the Faculty of Economics and Business, Slamet Riyadi University Surakarta. This research is motivated by the increasing interest of university students in stock investment, which has not been accompanied by consistent investment decisions. Therefore, it is necessary to investigate the factors influencing their investment decisions. This study employed a quantitative approach using a survey method. Primary data were collected through questionnaires distributed to 100 students of the Faculty of Economics and Business, Slamet Riyadi University Surakarta, selected using a purposive sampling technique. The data were analyzed using instrument validity and reliability tests, classical assumption tests, multiple linear regression analysis, t-test, F-test, and the coefficient of determination (R²). The results indicate that, partially, financial behavior has no significant effect on stock investment decisions. Investment motivation has a positive and significant effect on stock investment decisions. Meanwhile, risk tolerance has no significant effect on stock investment decisions. These findings suggest that investment motivation is the most dominant factor influencing students' stock investment decisions compared to financial behavior and risk tolerance. This study is expected to contribute to the development of the Theory of Planned Behavior (TPB) in explaining investment behavior and to provide useful insights for university students as prospective investors in enhancing their investment motivation to make better investment decisions.
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