Impact of Financial Literacy and Financial Behavior on Investment among millennial in Indonesia: the modearing role of risk profile

Yuliani, Yuliani and Taufik, Taufik and Malinda, Shelfi and Umrie, H.M.A. Rasyid HS (2024) Impact of Financial Literacy and Financial Behavior on Investment among millennial in Indonesia: the modearing role of risk profile. INTERNATIONAL JOURNAL OF FINANCIAL STUDIES, ECONOMICS AND MANAGEMENT, 4 (1). pp. 13-25. ISSN 2820-6967

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Abstract

This study aims to provide empirical evidence of millennials' investment behaviors, considering their risk profiles as a moderating factor. It also explores the financial literacy and behaviors of millennials. Predictions from the Central Bureau of Statistics (Badan Pusat Statistik/BPS) suggest that millennials will form the majority in Indonesia's demographic structure, thereby shaping the country's future. The study involved 168 millennials, recruited through convenience sampling, with data collection occurring in JuneJuly 2021. The data was analyzed using exploratory factor analysis and a structural equation model, revealing that financial literacy and behavior significantly and positively impact investing; however, while risk profile moderation affects financial literacy, it does not moderate financial behavior. The study faced limitations, including a sample size of 168 respondents—barely meeting the minimum requirements for SEM analysis—and the geographic limitation of respondents being from Palembang city. Future studies are recommended to explore a broader region with a larger sample size to enhance understanding of the moderating effect of risk profiles in financial planning

Item Type:	Article
Uncontrolled Keywords:	Financial literacy, Financial behavior, Investment, Millennial, Risk profile
Subjects:	#3 Repository of Lecturer Academic Credit Systems (TPAK) > Articles Access for TPAK (Not Open Sources)
Divisions:	01-Faculty of Economics > 61201-Management (S1)
Depositing User:	Tn Taufik Taufik
Date Deposited:	18 Aug 2024 22:52
Last Modified:	18 Aug 2024 22:52
URI:	http://repository.unsri.ac.id/id/eprint/154615

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