PENGARUH FINANCIAL LITERACY, TECHNOLOGY, BEHAVIOR DAN RISK PERCEPTION TERHADAP KEPUTUSAN INVESTASI PADA MAHASISWA DI KAMPUS KOTA BEKASI

Yuyun Indah Cahyani; AWN Fikri; Supriyanto Supriyanto; Matdio  Siahaan; Wastam Wahyu Hidayat

doi:10.53067/ijebef.v6i2.342

Authors

Yuyun Indah Cahyani Universitas Bhayangkara Jakarta Raya
AWN Fikri Universitas Bhayangkara Jakarta Raya
Supriyanto Supriyanto Universitas Bhayangkara Jakarta Raya
Matdio Siahaan Universitas Bhayangkara Jakarta Raya
Wastam Wahyu Hidayat Universitas Bhayangkara Jakarta Raya

DOI:

https://doi.org/10.53067/ijebef.v6i2.342

Keywords:

Financial Literacy, Financial Technology, Financial Behavior, Risk Perception, Investment Decision, Financial Literacy, Financial Technology, Financial Behavior, Risk Perception, Keputusan Investasi

Abstract

This study aims to analyze the influence of Financial Literacy, Financial Technology, Financial Behavior, and Risk Perception on investment decisions of students in Bekasi City. The study used a quantitative approach with an associative design. Primary data were obtained through questionnaires distributed to 83 student members of the investment gallery at Bhayangkara Jakarta Raya University, STIE Tri Bhakti, and STEBI Global Mulia Cikarang. The sampling technique used purposive sampling, while data analysis was performed using multiple linear regression using SPSS. The results showed that Financial Literacy, Financial Technology, Financial Behavior, and Risk Perception partially had a positive and significant effect on investment decisions. Simultaneously, these four variables also had a significant effect on student investment decisions, thus supporting more rational and optimal investment decision-making.

Downloads

Download data is not yet available.

References

Afandy, C., & Niangsih, F. F. (2020). Literasi keuangan dan manajemen keuangan pribadi mahasiswa di provinsi bengkulu. https://doi.org/10.33369/tmr.v2i2.16329

Afriany, J., & Hakim, A. (2021). Pengaruh Terhadap Financial Literacy, Resiko Toleransi, Kemampuan Managemen Resiko Dalam Keputusan Investasi. Ekonomi, Keuangan, Investasi Dan Syariah (Ekuitas), 2(2), 170–176. https://doi.org/10.47065/ekuitas.v2i2.660

Almansour, B. Y., Elkrghli, S., & Almansour, A. Y. (2023). Behavioral finance factors and investment decisions: A mediating role of risk perception. Cogent Economics and Finance, 11(2). https://doi.org/10.1080/23322039.2023.2239032

Amanda, Bachri, S., & Wahida, A. (2026). Pengaruh Literasi Keuangan dan Gaya Hidup Terhadap Perilaku Pengelolaan Keuangan (Studi Kasus Pada Pegawai Perumda Tirta Mangkaluku Kota Palopo). JEMSI (Jurnal Ekonomi, Manajemen, Dan Akuntansi), 12(2), 1122–1134. https://doi.org/10.35870/jemsi.v12i2.5912

Andyana, I. M. (2020). Manajemen Investasi Dan Portofolio. http://repository.unas.ac.id/id/eprint/3770%0A

Atmaningrum, S., Kanto, D. S., & Kisman, Z. (2021). Investment Decisions: The Results of Knowledge, Income, and Self-Control. Journal of Economics and Business, 4(1), 100–112. https://doi.org/10.31014/aior.1992.04.01.324

Baihaqqy, M. R. I. (2023). Benar Ber-Invesatsi Di Pasar Modal (Issue January 2023). CV. Amerta Media.

Dalimunthe, N. P., Ambarwati, D. A. S., & Mardiana, N. (2023). Do Demographic and Financial Literacy affect Investment Decision ? https://doi.org/10.4108/eai.13-9-2023.2341228

Damayanti, K. L. P., & Wirakusuma, M. G. (2025). Pengaruh Overconfidence dan Herding Bias pada Pembuatan Keputusan Investasi dengan Tingkat Pendidikan sebagai Variabel Moderasi. OPTIMAL Jurnal Ekonomi Dan Manajemen, Vol 5 No 4. https://doi.org/10.55606/optimal.v5i4.7921

Desiyanti, R., Islamiati, F., Fitria, R., Moreno, K., & Sari, J. N. (2025). Effect of Financial Literacy, Risk Perception, and Financial Attitude on Investment Decisions of Millennial Generation. Jurnal Apresiasi Ekonomi, 13(2), 505–521. https://doi.org/10.31846/jae.v13i2.955

Endaryono, B. T., & Djuhartono, T. (2024). Faktor Faktor Yang Menentukan Tingkat Investasi Dalam Pertumbuhan Ekonomi. JABE Journal of Applied Business and Economic, 10(4), 399–410. http://dx.doi.org/10.30998/jabe.v10i4.22456

Fikri, A. W. N., Bukhari, E., & Rianto, M. R. (2020). Ancaman Pola Perilaku Finansial Perbankan Di Indonesia. 16(1), 27–32. https://doi.org/10.31599/jiam.v16i1.114

Gustika, G. S., & Yaspita, H. (2021). Pengaruh Literasi Keuangan Terhadap Keputusan Investasi Mahasiswa STIE Indragiri Rengat. 6(April), 261–269. https://doi.org/10.33087/jmas.v6i1.252

Hanifah, F., Sudarno, & Noviani, L. (2022). Seminar Nasional (prospek i) “Digital Learning Merdeka Belajar Kampus Merdeka:Strategi dan Inovasi Pembelajaran” 18 Januari 2022 Program Studi Pendidikan Ekononomi, FKIP, Universitas PGRI Mahadewa Indonesia The Effect of Financial Literacy on Sebelas Mare. Prospek I, 194–203.

Hidayat, W. W., Widjanarko, W., Prasetyo, E. T., Apriyanto, I., & Yulianah. (2023). The Effect of Financial Literacy on the Financial Management of MSMEs in Jatinangor District , Sumedang Regency.

Hikmah, & Toatubun, H. (2025). Analisis Faktor yang Mempengaruhi Keputusan Investasi pada Generasi Milenial dan Gen Z. 4(2), 232–241. https://doi.org/10.55123/mamen.v4i2.5102

Jannah, I. W. (2025). Pengaruh Financial Literacy, Income, Hedonism Lifestyle, Dan Locus Of Control Terhadap Financial Behavior Generasi-Z Di Kota Pekanbaru. http://repository.uin-suska.ac.id/id/eprint/88970

Jannah, R. T., Sutrisno, & Permatasari, I. (2024). Pengaruh Investasi Terhadap Pertumbuhan Ekonomi di Indonesia. 10(15), 772–778.

Kustodian Sentral Efek Indonesia. (2025). https://web.ksei.co.id/files/Statistik_Publik_Desember_2025.pdf

Kusumawati, H. L., Idris, A., & Widuri, T. (2025). Pengaruh Financial Literacy, Financial behavior, dan Overconfidence Terhadap Keputusan Investasi pada Generasi Z Fakultas Ekonomi Universitas Islam Kadiri. https://doi.org/10.61132/nuansa.v3i2.1708

Merter, A. K., & Balcıoglu, Y. S. (2025). Borsa Istanbul Review Financial literacy and decision-making : The impact of knowledge gaps on financial outcomes. Borsa Istanbul Review, July. https://doi.org/10.1016/j.bir.2025.07.010

Pratama, A., Fauzi, A., & Purwohedi, U. (2022). Pengaruh persepsi risiko, ekspektasi return , dan behavioral motivation terhadap keputusan investasi mahasiswa yang terdaftar di galeri investasi pada perguruan tinggi negeri jakarta. IJEBEF Indonesian Journal of Economy Business Entrepreneurship and Finance, 2(3), 252–267. https://doi.org/10.53067/ijebef.v2i3.55

Pratiwi, A. S. D., Kurniawan, D. I., Adestiani, F., Aulia, L., & Abdillah. (2025). Analisis Investasi Online Pada Aplikasi Stockbit. Journal Scientific of Mandalika (JSM), 6(4), 826–833. https://doi.org/10.36312/10.36312/vol6iss4pp826-833

Putri, K. A. S., & Andayani, S. (2022). Literasi Keuangan dan Pendapatan terhadap Keputusan Investasi Mahasiswa dengan Perilaku Keuangan sebagai Variabel Intervening. Journal of Management and Bussines (JOMB), 4(2), 1075–1089. https://doi.org/10.31539/jomb.v4i2.4715

Safitri, T. A. (2022). Kontribusi Fintech Payment Terhadap Perilaku Manajemen Keuangan Di Masa Pandemi Covid-19. Jurnal Manajemen Dayasaing, 23(2), 140–145. https://doi.org/10.23917/dayasaing.v23i2.16207

Saputra, M., & Putra, K. E. S. (2024). Pengaruh Literasi Keuangan dan Pendapatan terhadap Keputusan Investasi Emas di saat Pandemi pada PT. Pegadaian Unit Pembantu Cabang Lovina. Jurnal Manajemen Dan Bisnis Prospek, 6(2), 295–302. https://doi.org/10.23887/pjmb.v6i2.61617

Saratian, E. T. P. (2025). Manajemen Strategik Grand Theory dan Implikasi Praktis (Fajrina Margareth Viruliana (Ed.); Issue January). CV. Angkasa Media Literasi.

Siahaan, M., Anantadjaya, S. P., Kurniawan, I. M. G. A., & Purba, A. S. (2022). Syariah Technology Financial Potential to Reach Non-bank Financing. 19(1), 1824–1833. https://doi.org/10.14704/WEB/V19I1/WEB19122

Slamet, S., Citta, A. B., & Nurhidayanti, N. (2025). Pengaruh Financial Literacy, Digital Technology, Overconfidence, Risk Tolerance Dan Return Terhadap Keputusan Investasi Mahasiswa. RIGGS: Journal of Artificial Intelligence and Digital Business, 4(1), 867–876. https://doi.org/10.31004/riggs.v4i1.988

Sulung, U., & Muspawi, M. (2024). Memahami Sumber Data Penelitian : Primer, Sekunder, Dan Tersier. 5(September), 110–116. https://doi.org/10.47827/jer.v5i3.238

Supriyanto, Yanti, D., Untari, D. T., Rapan, A., & Winarso, W. (2022). The Influence Of Psychological Factors On Investment Decisions By Students At Bhayangkara Jakarta Raya University. 32(3), 2471–2473. http://repository.ubharajaya.ac.id/id/eprint/15685%0A

Supriyatna, & Agustina, R. (2022). Pengaruh Risk Perception dan Kualitas Informasi Akuntansi Terhadap Keputusan Investasi di Masa Pandemi (Studi Pada Investor di BEI FE UnHasy Tebuireng Jombang). 5(2), 191–203. https://doi.org/10.33005/baj.v5i2.207

Wardani, D. K., & Supiati. (2020). Pengaruh Sosialisasi Pasar Modal dan Persepsi atas Risiko terhadap Minat Investasi Mahasiswa di Pasar Modal. 12, 13–22. https://doi.org/10.28932/jam.v12i1.2044

Wardani, R. U., Aqliya, J. S., Rasyida, A. M., Andni, R., & Candra, E. (2025). Pengaruh Media Sosial, Kualitas Produk, Dan Harga Terhadap Minat Beli Sepeda Listrik Merek U-Winfly Di Kudus. 1, 420–429. https://doi.org/10.46576/bn.v8i1.6298

Yanti, M. (2023). Persepsi Terhadap Investasi Sebagai Respon Kasus Investasi Bodong Pada Mahasiswa Febi Uin Sts Jambi. 1(2). http://digilib.uinjambi.ac.id/id/eprint/1004

Zahwa, A. F. N., & Soekarno, S. (2023). The Influence of Financial Literacy, Risk Tolerance, and Demographic Factors on Investment Decision among Generation Z and Millennial in Greater Jakarta and Greater Bandung. International Journal of Current Science Research and Review, 06(06), 3517–3527. https://doi.org/10.47191/ijcsrr/v6-i6-44

Zendrato, A., Hulu, P. F., Zebua, S., & Bate’e, M. M. (2025). Pengaruh Penerapan Financial Technology Terhadap Keberlangsungan Usaha UMKM di Jalan Sirao, Kecamatan Gunungsitoli. 4(3), 3303–3325. https://doi.org/10.31004/riggs.v4i3.2456