Does Family Environment Moderate The Effect of Financial Literacy, Attitudes and Motivation on Investment Interest

  • Yuniningsih Yuniningsih Universitas Pembangunan Nasional “Veteran” Jawa Timur
  • Bowo Santoso Universitas Pembangunan Nasional "Veteran" Jawa Timur
Keywords: Attitude, Family Environment, Financial Asset, Financial Literacy, Interest in Investment, Motivation

Abstract

Investment interest is the desire to invest, which is followed by a lot of information seeking. Everyone, including a lecturer, may be interested in investing in any form, either real assets or financial assets. Investments are made to obtain a benefit in the future. This research aims to determine how a lecturer's behavior in fostering interest in investing in financial assets, especially stocks, considers the factors that influence it.  Participants in this study were lecturers in Surabaya who were certified lecturers and were permanent lecturers at public and private universities. This study uses three exogenous latent variables consisting of financial literacy, attitude, and motivation. One endogenous latent variable, namely investment interest, and one moderating variable, namely Family. Of the five variables used measured by a total of 21 indicators. The participants in this study were 103 participants. The participants in this study were 103 participants. This study indicates that the variables of financial literacy and motivation have a significant influence on the interest in investing in financial assets. This study suggests that financial literacy and inspiration variables have a considerable impact on the interest in investing in financial assets.

Downloads

Download data is not yet available.

References

Abreu, M., & Mendes, V. (2010). Financial literacy and portfolio diversification. Quantitative Finance, 10(5), 515–528.
Adhitama, P. P., & ARIANTI, F. (2014). Faktor-faktor yang mempengaruhi minat berwirausaha (Studi kasus mahasiswa Fakultas Ekonomika dan Bisnis UNDIP, Semarang). Fakultas Ekonomika dan Bisnis.
Aini, N., Maslichah, M., & Junaidi, J. (2019). Pengaruh Pengetahuan Dan Pemahaman Investasi, Modal Minimum Investasi, Return, Risiko Dan Motivasi Investasi Terhadap Minat Mahasiswa Berinvestasi Di Pasar Modal (Studi Pada Mahasiswa Fakultas Ekonomi Dan Bisnis Kota Malang). Jurnal Ilmiah Riset Akuntansi, 8(05).
Ajzen, I. (1985). From intentions to actions: A theory of planned behavior. In Action control (pp. 11–39). Springer.
Ajzen, I. (1991). The theory of planned behavior. Organizational Behavior and Human Decision Processes, 50(2), 179–211.
Amhalmad, I., & Irianto, A. (2019). Pengaruh Pengetahuan Investasi dan Motivasi Investasi Terhadap Minat Berinvestasi Mahasiswa Pendidikan Ekonomi Fakultas Ekonomi Universitas Negeri Padang. Jurnal Ecogen, 2(4), 734–746.
Aryeetey, E. (2004). Household asset choice among the rural poor in Ghana. Institute of Statistical, Social and Economic Research, University of Ghana.
Azwar, S. (2005). Sikap Manusia Teori dan Penerapannya. Pustaka Pelajar: Yogyakarta.
Azwar, S. (2007). Sikap Manusia Teori dan Pengukurannya, Edisi ke-2. Yogyakarta: Pustaka Pelajar Offset.
Bechara, A., & Damasio, A. R. (2005). The somatic marker hypothesis: A neural theory of economic decision. Games and Economic Behavior, 52(2), 336–372.
Christelis, D., Jappelli, T., & Padula, M. (2010). Cognitive abilities and portfolio choice. European Economic Review, 54(1), 18–38.
Cole, S., & Fernando, N. (2008). Assessing the importance of financial literacy. ADB Finance for the Poor, 9(2), 1–6.
Fishbein, M. (1981). leek Ajzen (1975), Belief, Attitude, Intention, and Behavior: An Introduction to Theory and Research. Read-Ing, MA: Addison-Wesley.
Fishbein, M., & Ajzen, I. (1975). Intention and Behavior: An introduction to theory and research. Addison-Wesley, Reading, MA.
Fornell, C., & Larcker, D. F. (1981a). Evaluating structural equation models with unobservable variables and measurement error. Journal of Marketing Research, 18(1), 39–50.
Fornell, C., & Larcker, D. F. (1981b). Structural equation models with unobservable variables and measurement error: Algebra and statistics. Sage Publications Sage CA: Los Angeles, CA.
Francis, L. J., Robbins, M., Ap Siôn, T., Lewis, C. A., & Barnes, L. P. (2007). Psychological health and attitude toward Christianity among Protestant and Catholic sixth-form pupils in Northern Ireland. Pastoral Psychology, 56(2), 157–164.
Handoko, T. H. (2001). Manajemen Personalia dan Sumber Daya Manusia Edisi 2. Yogyakarta: BPFE.
Hong, H., Kubik, J. D., & Stein, J. C. (2004). Social interaction and stock‐market participation. The Journal of Finance, 59(1), 137–163.
Jones*, E., Danbolt, J., & Hirst, I. (2004). Company investment announcements and the market value of the firm. The European Journal of Finance, 10(5), 437–452.
Jones, J., & Wren, C. (2004). Inward foreign direct investment and employment: a project-based analysis in north-east England. Journal of Economic Geography, 4(5), 517–543.
Krech, D. (1962). Individual in society/Krech D., Crutchfield R., Ballachey E. NY: Herper.
Kreitner, R., & Kinicki, A. (2005). Perilaku organisasi. Jakarta: Salemba Empat.
Mandell, L., & Klein, L. S. (2007). Motivation and financial literacy. Financial Services Review, 16(2).
Poterba, J. M., & Samwick, A. A. (1997). Taxation and Household Portfolio Composition: Evidence from Tax Reforms in the 1980s. Journal Of Finance, 52(3), 1250. Wiley-Blackwell 111 River ST, HOBOKEN 07030-5774, NJ USA.
Shiv, B., Loewenstein, G., Bechara, A., Damasio, H., & Damasio, A. R. (2005). Investment behavior and the negative side of emotion. Psychological Science, 16(6), 435–439.
Sofyan, H., & Uno, H. B. (2012). Teori Motivasi dan penerapannya dalam penelitian. Yogyakarta: UNY Press.
Wagland, S. P., & Taylor, S. (2009). When it comes to financial literacy, is gender really an issue? Australasian Accounting, Business and Finance Journal, 3(1), 3.
Yuniningsih, Y, & Taufiq, M. (2019). Investor Behavior In Determining Investmen On Real Asset. MIX: Jurnal Ilmiah Manajemen, 9(2), 293227.
Yuniningsih, Yuniningsih, Hasna, N. A., Wajdi, M. B. N., & Widodo, S. (2018). Financial Performance Measurement Of With Signaling Theory Review On Automotive Companies Listed In Indonesia Stock Exchange. IJEBD (International Journal Of Entrepreneurship And Business Development), 1(2), 167–177.
Yuniningsih, Yuniningsih, Lestari, V. N. S., Nurmawati, N., & Wajdi, B. N. (2018). Measuring Automotive Company’s Capabilities in Indonesia in Producing Profits Regarding Working Capital. Jurnal Terapan Manajemen Dan Bisnis, 4(1), 67–78.
Published
2020-10-05