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Fahrezi, Ricard Ryan
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Peran Persepsi Risiko Dalam Memediasi Pengaruh Literasi Keuangan dan Media Sosial Terhadap Keputusan Investasi Mahasiswa di Kota Kediri Algifari, Annas AQ; Nadhiroh, Umi; Dewi, Anita Sumelvia; Fahrezi, Ricard Ryan
JURNAL ILMIAH EKONOMI DAN MANAJEMEN Vol. 4 No. 5 (2026): MEI
Publisher : CV. KAMPUS AKADEMIK PUBLISING

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61722/jiem.v4i5.10014

Abstract

Investment decisions among university students have become increasingly important along with the rapid growth of digital investment platforms and investment-related information on social media. This study aims to examine the effect of financial literacy and social media on investment decisions through risk perception as a mediating variable among university students in Kediri City. This research used a quantitative explanatory approach. The sample consisted of 160 students who had investment experience in the capital market and were selected using purposive sampling. Data were collected through an online questionnaire using a five-point Likert scale. The data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS. The results show that financial literacy has a positive and significant effect on investment decisions. Social media also has a positive and significant effect on investment decisions. Financial literacy and social media have positive and significant effects on risk perception, while risk perception has a positive and significant effect on investment decisions. Furthermore, risk perception mediates the relationship between financial literacy and investment decisions, as well as the relationship between social media and investment decisions. These findings indicate that students’ investment decisions are shaped by cognitive ability, digital information exposure, and risk evaluation. The study implies that financial education and critical evaluation of social media investment content are essential for improving students’ investment decision quality.  
Pengaruh Pertumbuhan Penjualan dan Likuiditas terhadap Perubahan Laba dengan Kinerja Keuangan sebagai Variabel Mediasi pada Perusahaan Manufaktur Subsektor Food and Beverage yang Terdaftar di Bursa Efek Indonesia (BEI) Periode 2022–2024 Fahrezi, Ricard Ryan; Nadhiroh, Umi; Wardhani, Rike Kusuma; Al-Gifari, Annas AQ
JURNAL ILMIAH EKONOMI DAN MANAJEMEN Vol. 4 No. 5 (2026): MEI
Publisher : CV. KAMPUS AKADEMIK PUBLISING

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61722/jiem.v4i5.10015

Abstract

This study aims to examine the effect of sales growth and liquidity on earnings changes with financial performance as a mediating variable in manufacturing companies in the food and beverage subsector listed on the indonesia stock exchange (IDX) during the 2022–2024 period. The variables employed in this study include sales growth, liquidity proxied by the current ratio, financial performance proxied by return on assets, and earnings changes. This research adopts a quantitative approach using panel data regression analysis and mediation analysis through the sobel test. The analysis is conducted using two structural equations. The first structural equation employs the random effect model, while the second structural equation applies the common effect model, based on the results of model selection tests. The findings indicate that sales growth has a negative and significant effect on earnings changes. Liquidity, as measured by the current ratio, has a positive but insignificant effect on earnings changes. Similarly, financial performance, proxied by return on assets, has a positive but insignificant effect on earnings changes. Furthermore, financial performance is unable to mediate the effect of sales growth on earnings changes and is also unable to mediate the effect of liquidity on earnings changes.
Co-Authors Al-Gifari, Annas AQ Algifari, Annas AQ Dewi, Anita Sumelvia Umi Nadhiroh Wardhani, Rike Kusuma