Pengaruh Financial Literacy terhadap Investment Decisions dengan Experience Regret dan Risk Tolerance sebagai Mediasi pada Generasi Z di Kota Padang
DOI:
https://doi.org/10.38035/jafm.v6i5.2614Keywords:
Literasi Keuangan, Keputusan Investasi, Mengalami Penyesalan, Toleransi Risiko, Generasi ZAbstract
Penelitian ini menyoroti peran penting dari literasi keuangan dalam membentuk keputusan investasi, khususnya pada generasi Z yang semakin aktif di pasar keuangan namun sering dipengaruhi oleh faktor psikologi seperti mengalami penyesalan dan toleransi risiko. Tujuan penelitian ini adalah untuk menganalisis pengaruh financial literacy terhadap investment decisions dengan experience regret dan risk tolerance sebagai variabel mediasi pada Generasi Z di Kota Padang. Penelitian ini menggunakan pendekatan kuantitatif dengan pengumpulan data melalui kuesioner yang disebarkan kepada anggota Galeri Investasi Bursa Efek Indonesia. Analisis data dilakukan menggunakan Structural Equation Modeling (SEM) dengan perangkat lunak SmartPLS 4.0. Hasil penelitian menunjukkan bahwa financial literacy berpengaruh positif terhadap risk tolerance, namun tidak berpengaruh signifikan terhadap investment decisions. Experience regret juga tidak memiliki pengaruh signifikan terhadap investment decisions serta tidak memediasi hubungan antara financial literacy dan investment decisions. Sebaliknya, risk tolerance berperan sebagai mediator positif yang menghubungkan financial literacy dengan investment decisions. Temuan ini menunjukkan bahwa tingkat literasi keuangan yang tinggi tidak selalu menghasilkan keputusan investasi yang lebih baik tanpa diimbangi kemampuan menghadapi risiko.
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