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All Journal JEMSI (Jurnal Ekonomi, Manajemen, dan Akuntansi) Journal of Educational Management Research
Uray Ndaru Mustika
Tanjungpura University
Humanities Economics, Econometrics & Finance Education Social Sciences

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The Influence of Cross-Cultural Adaptability and Financial Socialization on Alumni Financial Behavior: The Mediating Role of Financial Literacy Catrin Rumondang; Juniwati; Wendy; Mustaruddin; Uray Ndaru Mustika
Journal of Educational Management Research Vol. 5 No. 3 (2026)
Publisher : Al-Qalam Institue

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61987/jemr.v5i3.2275

Abstract

This study aims to examine the influence of cross-cultural adaptability and financial socialization on financial behavior, with financial literacy as a mediating variable. The research addresses the growing need for financial competence among individuals navigating diverse cultural and financial contexts during international exchange experiences. A quantitative, cross-sectional approach was employed, collecting data through an online questionnaire from Global UGRAD alumni representing multiple countries. Partial Least Squares Structural Equation Modeling (PLS-SEM) was used to analyze the relationships among variables. Financial literacy was measured as a multidimensional construct encompassing financial knowledge, attitudes, and skills, while financial behavior was operationalized through budgeting, saving, and responsible financial practices. The results indicate that both cross-cultural adaptability and financial socialization have significant positive effects on financial behavior. Financial literacy partially mediates these relationships, highlighting its role as a critical mechanism linking social and cognitive learning processes to financial outcomes. The findings suggest that developing adaptive capacity and promoting socialized financial learning can enhance responsible financial behavior among international students. Practically, these insights emphasize the importance of integrating structured financial education and cross-cultural training into international exchange programs to foster financial resilience, informed decision-making, and long-term well-being.
How Financial Literacy Moderate The Herding Behavior, Social Media, and FOMO to Investment Decision Crypto in Gen Z Riyan Hidayat; Mustaruddin Mustaruddin; Mochammad Ridwan Ristyawan; Giriati Giriati; Uray Ndaru Mustika
JEMSI (Jurnal Ekonomi, Manajemen, dan Akuntansi) Vol. 12 No. 4 (2026): Agustus 2026
Publisher : Lembaga Komunitas Informasi Teknologi Aceh (KITA), Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35870/jemsi.v12i4.6749

Abstract

The rapid increase in cryptocurrency adoption among Generation Z in Indonesia has raised concerns regarding investment decision-making in highly volatile digital asset markets. This study examines the influence of herding behavior, social media exposure, and fear of missing out (FOMO) on cryptocurrency investment decisions, with financial literacy as a moderating variable. A quantitative approach was employed using survey data from 200 Generation Z cryptocurrency investors in Pontianak City. The data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4. The results show that herding behavior and social media significantly influence investment decisions. Fear of missing out also affects investor decision-making. Financial literacy moderates the relationship between herding behavior and investment decisions as well as between social media and investment decisions, but does not moderate the relationship between FOMO and investment decisions. These findings indicate that cryptocurrency investment decisions among Generation Z are influenced by social interactions and emotional biases.
Co-Authors Catrin Rumondang Giriati Giriati Juniwati Mochammad Ridwan Ristyawan Mustaruddin Mustaruddin Mustaruddin Riyan Hidayat Wendy