The Influence of Financial Literacy and Risk Perception on Investment Decisions Based on Gender using Multi-Group Analysis Methods
Keywords:
financial literacy, risk perception, investment decisions, gender, PLS-MGAAbstract
This research aims to analyze the influence of financial literacy and risk perception based on gender using a multi-group analysis method on workers consisting of the millennial and Z generations in Indonesia. A questionnaire-based survey will be conducting using purposive sampling technique. In total, 211 responses were collected and data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) and also Multi-group Analysis (PLS-MGA) to see the differences in the influence of each gender group. This study enriches the theoretical foundations of financial vulnerability through the exploration of moderation mechanism. Based on the data analysis, this study proved that there is a positive impact of financial literacy and risk perception on investment decisions which moderated by gender.
References
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Singh Tomar, D., Singh Tomar, R., & Singh Tomar Assistant Professor, D. (2019). International Journal of Scientific Research and Reviews Gender Differences In Investment Behaviour: A Comparative Study With Reference To The Similar Income and Age Group. IJSRR, 2019(1), 1275–1285. www.ijsrr.org
Susanti, A., Farida, A., & Ardyan, E. (2023). Does Financial Literacy Affect Decisions Regarding Gold Investments? Risk Perception, Income, and Financial Behavior of the Surakarta Community. International Journal of Economics, Business and Management Research, 07(12), 142–162. https://doi.org/10.51505/IJEBMR.2023.71209
Widyastuti, U., & Soma, A. M. (2023). The Islamic financial literacy and market discipline: Does gender have the moderating role? Jurnal Keuangan dan Perbankan, 27(1), 1–9. https://doi.org/10.26905/jkdp.v27i1.8297
Yusnita, R. T., Waspada, I., & Sari, M. (2022). Investment Decision Judging from Personal Income, Financial Literacy and Demographic Factors.
Zaibet, M. S. (2021). Financial literacy and its dimensions. Journal of Human Sciences-Oum El Bouaghi University, Vol 08, Number 01, ISSN 1112-9255
Ardhiani, M. C., & Panjaitan, Y. (2023). Analysis of Financial Knowledge, Financial Awareness, and Financial Attitude on Investment Decisions in the Capital Market by Indonesian Millennial Generation. JOURNAL OF ECONOMICS, FINANCE AND MANAGEMENT STUDIES, 06(05). https://doi.org/10.47191/jefms/v6-i5-22
Azib, A., Ansari Harahap, D., & Amanah, D. (2022). DO FINANCIAL LITERACY AND FINANCIAL ATTITUDES PLAY A ROLE IN INFLUENCING FINANCIAL MANAGEMENT BEHAVIOR? In International Journal of Early Childhood Special Education (INT-JECS (Vol. 14).
Bhargava, N. R., Mittal, S., & Kushwaha, V. S. (2017). Impact Factor: 4.598 Double-Blind Peer Reviewed Refereed International Journal-Included in the. In International Serial Directories Journal of Advance Management Research (Vol. 05, Issue 04). JAMR. http://www.jamrpublication.com
Bouteraa, M., Al-Daihani, M., Chekima, B., Ansar, R., Tamma, E., Lada, S., Baddou, A., Elkheloufi, A., & Fook, L. M. (2023). A Multi-Analytical Approach to Investigate the Motivations of Sustainable Green Technology in the Banking Industry: Do Gender and Age Matter? International Journal of Social Ecology and Sustainable Development, 15(1). https://doi.org/10.4018/IJSESD.332416
Chandra, P. K., Pangkey, L. B., & Soetanto, T. V. (2023). Young Adults’ Investment Decisions in Surabaya: The Influence of Financial Literacy and Risk Perception. International Journal of Organizational Behavior and Policy, 2(2), 87–96. https://doi.org/10.9744/ijobp.2.2.87-96
Cheah, J. H., Amaro, S., & Roldán, J. L. (2023). Multigroup analysis of more than two groups in PLS-SEM: A review, illustration, and recommendations. Journal of Business Research, 156. https://doi.org/10.1016/j.jbusres.2022.113539
Dewa Agustin, P., & Yazid Lubiz, A. (2023). PENGARUH BRAND IMAGE DAN KUALITAS PRODUK BITTERSWEET BY NAJLA TERHADAP KEPUASAN KONSUMEN PADA FOLLOWERS INSTAGRAM @BITTERSWEET_BY_NAJLA. Desember, 2(3), 61–65. https://doi.org/10.56127/j
Dewi, L. G. K., Latrini, M. Y., & Penindra, I. M. D. B. (2021). Risk Perception, Gender, dan Pengetahuan Investasi, pada Niat Berinvestasi. E-Jurnal Akuntansi, 31(11), 2912. https://doi.org/10.24843/eja.2021.v31.i11.p18
Herliana, Y. T., Ratnawati, K., & Djumahir, D. (2023). The Role of Personality Traits as Mediation: The Effect of Financial Literacy and Risk Perception on Investment Decision. Journal of Business and Management Review, 4(6). https://doi.org/10.47153/jbmr46.7202023
Hidayat, T., Oktaviano, B., & Baharuddin, R. (2023). Keputusan Investasi Berdasarkan Literasi Keuangan, Pengetahuan Investasi Dan Persepsi Risiko. Journal of Science and Social Research, VI (2): 441-452, p-ISSN: 2615-4307, e-ISSN: 2615-3262
Hidayat, V.E., & Pamungkas, A.S. (2022). Pengaruh Literasi Keuangan, Persepsi Risiko, Dan Toleransi Risiko Terhadap Keputusan Investasi Pada Saham, Jurnal Manajerial dan Kewirausahaan, Vol. 04, No. 03, hlm 767-776, e-ISSN: 2657-0025
Larasati, A. M., & Ayu, N. P. (2020). The Education for Gender Equality and Human Rights in Indonesia: Contemporary Issues and Controversial Problems. The Indonesian Journal of International Clinical Legal Education, 2(1), 73–84. https://doi.org/10.15294/ijicle.v2i1.37321
Munawar, S. (2023). Effect of Financial Literacy on Financial Decision and Consumer Behavior. Pakistan Journal of Humanities and Social Sciences, 11(2). https://doi.org/10.52131/pjhss.2023.1102.0556
Apriliani, A.F. & Murtanto. (2023). Pengaruh Pengetahuan Investasi Literasi Keuangan Efikasi Keuangan, Persepsi Risiko Dan Teknologi Media Sosial Terhadap Minat Investasi. Jurnal Investasi, Vol. 9/No.3, hlm. 133-142
Pranatawijaya, V. H., Widiatry, W., Priskila, R., & Putra, P. B. A. A. (2019). Penerapan Skala Likert dan Skala Dikotomi Pada Kuesioner Online. Jurnal Sains Dan Informatika, 5(2), 128–137. https://doi.org/10.34128/jsi.v5i2.185
Singh Tomar, D., Singh Tomar, R., & Singh Tomar Assistant Professor, D. (2019). International Journal of Scientific Research and Reviews Gender Differences In Investment Behaviour: A Comparative Study With Reference To The Similar Income and Age Group. IJSRR, 2019(1), 1275–1285. www.ijsrr.org
Susanti, A., Farida, A., & Ardyan, E. (2023). Does Financial Literacy Affect Decisions Regarding Gold Investments? Risk Perception, Income, and Financial Behavior of the Surakarta Community. International Journal of Economics, Business and Management Research, 07(12), 142–162. https://doi.org/10.51505/IJEBMR.2023.71209
Widyastuti, U., & Soma, A. M. (2023). The Islamic financial literacy and market discipline: Does gender have the moderating role? Jurnal Keuangan dan Perbankan, 27(1), 1–9. https://doi.org/10.26905/jkdp.v27i1.8297
Yusnita, R. T., Waspada, I., & Sari, M. (2022). Investment Decision Judging from Personal Income, Financial Literacy and Demographic Factors.
Zaibet, M. S. (2021). Financial literacy and its dimensions. Journal of Human Sciences-Oum El Bouaghi University, Vol 08, Number 01, ISSN 1112-9255
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Published
2024-08-02
How to Cite
Marlinia Qibthiyah. (2024). The Influence of Financial Literacy and Risk Perception on Investment Decisions Based on Gender using Multi-Group Analysis Methods. International Student Conference on Business, Education, Economics, Accounting, and Management (ISC-BEAM), 2(1). Retrieved from https://journal.unj.ac.id/unj/index.php/isc-beam/article/view/47003
