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All Journal Equivalent : Journal of Economic, Accounting and Management
Ramadhan Harahap
Universitas Pembangunan Panca Budi, Medan, North Sumatra
Economics, Econometrics & Finance

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The Effect of Financial Literacy, Risk Perception, and Income on Investment Decisions with Self-Efficacy as an Intervening Variable in Generation Z of GemsGBKP Binjai City Kristiani Br Ginting; Noni Ardian; Ramadhan Harahap
Equivalent : Journal of Economic, Accounting and Management Vol. 4 No. 2 (2026): Equivalent : Journal of Economic, Accounting and Management
Publisher : CV. Doki Course and Training

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61994/equivalent.v4i2.1887

Abstract

This study aims to analyze the influence of financial literacy, risk perception, and income on investment decisions with self-efficacy as an intervening variable in Generation Z of GBKP Gem Binjai City. This type of research is quantitative with a causal approach using a survey method. The research population is all members of Generation Z of Permata GBKP Binjai City which totals 250 people, with a sample of 71 respondents using the Slovin formula and simple random sampling techniques. Data was collected through a questionnaire with a Likert scale and analyzed using Partial Least Square-Structural Equation Modeling (PLS-SEM) with SmartPLS software. The results of the study show that financial literacy, income, and risk perception do not have a significant direct effect on investment decisions. However, these three variables have a positive and significant effect on self-efficacy, with income having the strongest influence, followed by risk perception and financial literacy. Self-efficacy has been shown to have a positive and significant effect on investment decisions, and plays a role as a full mediator in the relationship between financial literacy and income on investment decisions. The research model has good predictive ability with moderate categories for investment decisions and self-efficacy, and shows excellent predictive relevance.
Co-Authors Kristiani Br Ginting Noni Ardian