Peran mediasi literasi keuangan dalam keputusan investasi bagi Generasi Z: Pengujian bias-bias perilaku

Authors

  • Syafitri Aulia Fakultas Ekonomi dan Bisnis, Universitas Tanjungpura
  • Giriati Giriati Fakultas Ekonomi dan Bisnis, Universitas Tanjungpura
  • Uray Ndaru Mustika Fakultas Ekonomi dan Bisnis, Universitas Tanjungpura
  • Mustaruddin Mustaruddin Fakultas Ekonomi dan Bisnis, Universitas Tanjungpura

DOI:

https://doi.org/10.53088/jmdb.v4i3.1334

Keywords:

Overconfidence, Representativeness, Availability, Financial Literacy, Investment Decision

Abstract

This study analyzes behavioral factors, namely overconfidence, representativeness, and availability in Generation Z in making investment decisions, with financial literacy as a mediating variable. The research used a quantitative approach with a purposive sampling method. The data used are primary data with cross-sectional data types. Respondent data collection used a questionnaire distributed online to 250 respondents. The data analysis method used path analysis and the Sobel test. The results showed that overconfidence and representativeness positively and significantly affected financial literacy. The variables overconfidence, availability, and financial literacy positively and significantly affected investment decisions. This result is inversely proportional to the availability test on financial literacy and representativeness on investment decisions, indicating no effect. Financial literacy as a connecting variable can mediate the three behavioral biases on investment decisions.

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Published

2024-12-21

How to Cite

Aulia, S., Giriati, G., Mustika, U. N., & Mustaruddin, M. (2024). Peran mediasi literasi keuangan dalam keputusan investasi bagi Generasi Z: Pengujian bias-bias perilaku. Journal of Management and Digital Business, 4(3), 565–580. https://doi.org/10.53088/jmdb.v4i3.1334

Issue

Vol. 4 No. 3 (2024): Journal of Management and Digital Business

Section

Articles

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Copyright (c) 2024 Syafitri Aulia, Giriati Giriati, Uray Ndaru Mustika, Mustaruddin Mustaruddin

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