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Bukti Peran Perilaku Keuangan Sebagai Pemediasi dalam Literasi Keuangan, Risk Tolerance dan Keputusan Investasi Sherli Wahyuni Dwi Afriani; Isnurhadi Isnurhadi; Yuliani Yuliani
Jurnal Manajerial Vol 10 No 03 (2023): Jurnal Manajerial
Publisher : Program Studi Manajemen Universitas Muhammadiyah Gresik

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30587/jurnalmanajerial.v10i03.6271

Abstract

Background – The importance of planning in making investment decisions makes a person more mature in determining investment decisions to achieve financial well-being in the future. The realization of good investment decisions depends on appropriate financial instruments to invest in to maximize their use Aim – The purpose of this research is to determine the effect of Financial Literacy and Risk Tolerance on Investment Decisions mediated by Financial Behavior Design / methodology / approach – This research uses a quantitative approach and is analyzed using SmartPLS. Data obtained by Slovin sampling technique by distributing questionnaires to 400 respondents. Findings – The results of this study indicate that Financial Literacy, Risk Tolerance and Financial Behavior have a positive and significant effect on Investment Decisions. Financial Literacy and Risk Tolerance have a positive and significant effect on financial behavior. Financial literacy has a significant positive effect on investment decisions mediated by Financial Behavior. Risk Tolerance has a significant positive effect on Investment Decisions mediated by Financial behavior. Conclusion – Investors with good financial literacy and risk tolerance and followed by good financial behavior will make investment decisions according to their risk profile and investment objectives. Research implication – This research is for investors to broaden their knowledge regarding the functions of financial literacy and risk tolerance so that they can minimize bad financial behavior and be able to think rationally in investment decisions Limitations – The limitations of this research only include the variables of financial literacy, risk tolerance, financial behavior and investment decisions
PENGARUH LITERASI KEUANGAN DAN RISK TOLERANCE TERHADAP KEPUTUSAN INVESTASI Sherli Wahyuni Dwi Afriani; Isnurhadi Isnurhadi; Yuliani Yuliani
J-MACC Vol 6 No 2 (2023): Oktober
Publisher : Fakultas Ekonomi Universitas Islam Darul Ulum Lamongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52166/j-macc.v6i2.4906

Abstract

Investment decision is a person's decision to allocate funds to a certain asset with the aim of obtaining profits in the future. This research aims to examine the influence of financial literacy and risk tolerance on investment decisions. The population in this research are investors in South Sumatra. The sampling technique used is Probability Sampling, namely the slovin formula so that in this study the sample used was 400 respondents. This research was conducted using a quantitative method, the data used was by distributing questionnaires to respondents through online or offline. This research variable consists of X1 financial literacy, X2 risk tolerance, and Y investment decisions. This study uses 2 hypotheses. The data analysis technique uses Structural Equation Modeling (SEM) with the use of SmartPLS software.The results of this research show that financial literacy has a significant effect on investment decisions. Risk tolerance also has a significant effect on financial behavior. Apart from that, financial behavior is able to mediate the relationship between risk tolerance and investment decisions. The better the financial literacy an investor has, the better the quality of the investment decisions they will take. And the higher the risk tolerance level of investors, the higher the preference level of investment decisions that investors are willing to take, so that the higher the level of risk that will be borne.