The Effect of Financial Literacy, Risk Perception and Financial Knowledge on Investment Decision Making Generation Z with Financial Behavior as Intervening Variables
Pengaruh Financial Literacy, Risk Perception dan Financial Knowledge Terhadap Pengambilan Keputusan Investasi Generasi Z dengan Perilaku Keuangan sebagai Variabel Intervening
DOI:
https://doi.org/10.21070/ups.2374Keywords:
Financial Literacy, Perception of Risk, Financial Knowledge, Investment Decisions, Financial BehaviorAbstract
This study aims, (1) Testing the effect of financial literacy on investment decisions through financial behavior, (2) Testing the effect risk perception of investment decisions through financial behavior, (3) Testing the effect of financial knowledge on investment decisions through financial behavior. The data collection technique for this research was by means of a questionnaire. The population of this study are investors in the Indonesia Stock Exchange Gallery, Muhammadiyah University of Sidoarjo. SEM as the data analysis method used in this research. The sample in this study were 103 respondents. The results of this study indicate that financial literacy has a significant positive effect on investment decision making through financial behavior, with a partially mediating effect. Financial behavior cannot mediate the effect of risk perception on generation Z investment decision making. Financial knowledge has a significant positive effect on investment decision making through financial behavior, with a full mediating effect.
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