Pengaruh Literasi Keuangan, Edukasi Pasar Modal Dan Sikap Risiko Terhadap Perilaku Investasi (Studi Pada Mahasiswa di FEB UNISMA)

Abstract

Abstract

The objective of this study is to investigate the impact of financial literacy, education in capital markets, and risk attitudes on the investment practices of students from the Faculty of Economics and Business at Universitas Islam Malang. This analysis implemented a quantitative strategy, relying on survey methods for data collection. The research involved a total of 658 students from the 2022 cohort, from which 87 participants were chosen through purposive sampling, applying the Slovin formula with a 10% margin of error. Data collection was conducted using questionnaires, and the analysis was performed through multiple linear regression with the help of SPSS software. The findings indicate that financial literacy, education in capital markets, and attitudes towards risk collectively influence students' investment behaviors in a significant way. To some extent, financial literacy does not greatly influence investment behavior; however, education about capital markets and an individual's attitude towards risk do positively and significantly impact students' investment behaviors. With a coefficient of determination of 0.764, it can be inferred that 76.4% of the changes in students' investment behavior are explained by the three independent variables, whereas the remaining 23.6% is attributed to other influences not considered in the study. The results suggest that education in capital markets and students' attitudes towards risk significantly influence their investment behaviors, whereas financial literacy appears to have little impact on these behaviors in this research.

Keywords: Financial Literacy; Capital Market Education; Risk Attitude; Investment Behavior; University Students