Article Per Year (5 Year)
p-Index From 2021 - 2026
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This Author published in this journals
All Journal International Journal of Information System and Innovation Management Research in Accounting Journal
Jose Antonio Lopez Castro
Cordoba University
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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The Impact of Fear of Missing Out (FoMO) and Materialism on Financial Stress Among Students at Public Universities: The Moderating Role of Religiosity Ratna Nurani; M. Munawar Ansyori; Thi Kim Anh Vu; Muhammad Firmansyah; Jose Antonio Lopez Castro
International Journal of Information System and Innovation Management (IJISIM) Vol. 4 No. 2 (2026): International Journal of Information System and Innovation Management
Publisher : Yayasan Pendidikan Islam Al-Matani

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55583/ijisim.v4i2.2687

Abstract

This study aims to examine the effects of Fear of Missing Out (FOMO) and materialism on college students’ financial stress and to analyze the moderating role of religiosity in these relationships. The study was motivated by the increasing influence of digital lifestyles and consumerist behavior among college students, as well as the limited empirical studies integrating psychological and spiritual factors into a comprehensive framework. A quantitative approach was employed involving 200 students from a state university in Pekanbaru City selected through purposive sampling. Data were collected using a structured questionnaire based on a Likert scale and analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM). The findings reveal that FOMO and materialism have a positive and significant effect on students’ financial stress, indicating that higher levels of social comparison and material-oriented values contribute to greater financial pressure. Furthermore, religiosity moderates the effects of FOMO and materialism by weakening their influence on financial stress. These results suggest that psychological factors play a dominant role in generating financial stress, while religiosity serves as a coping mechanism that helps students manage financial challenges. This study contributes to the financial psychology literature by integrating behavioral, cognitive, and spiritual dimensions and offers practical implications for value-based financial literacy and responsible consumer behavior among students.
The Impact of Fear of Missing Out (FoMO) and Materialism on Financial Stress Among Students at Public Universities: The Moderating Role of Religiosity Ratna Nurani; M. Munawar Ansyori; Thi Kim Anh Vu; Muhammad Firmansyah; Jose Antonio Lopez Castro
International Journal of Information System and Innovation Management (IJISIM) Vol. 4 No. 2 (2026): International Journal of Information System and Innovation Management
Publisher : Yayasan Pendidikan Islam Al-Matani

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55583/ijisim.v4i2.2687

Abstract

This study aims to examine the effects of Fear of Missing Out (FOMO) and materialism on college students’ financial stress and to analyze the moderating role of religiosity in these relationships. The study was motivated by the increasing influence of digital lifestyles and consumerist behavior among college students, as well as the limited empirical studies integrating psychological and spiritual factors into a comprehensive framework. A quantitative approach was employed involving 200 students from a state university in Pekanbaru City selected through purposive sampling. Data were collected using a structured questionnaire based on a Likert scale and analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM). The findings reveal that FOMO and materialism have a positive and significant effect on students’ financial stress, indicating that higher levels of social comparison and material-oriented values contribute to greater financial pressure. Furthermore, religiosity moderates the effects of FOMO and materialism by weakening their influence on financial stress. These results suggest that psychological factors play a dominant role in generating financial stress, while religiosity serves as a coping mechanism that helps students manage financial challenges. This study contributes to the financial psychology literature by integrating behavioral, cognitive, and spiritual dimensions and offers practical implications for value-based financial literacy and responsible consumer behavior among students.
The Mediating Role of Good Corporate Governance in the Relationship Between Capital Structure, Investment Opportunity Set, Corporate Social Responsibility, and Firm Value Nanda Suryadi; Arie Yusnelly; Tiara Aulia Zahra; Muhammad Firmansyah; Jose Antonio Lopez Castro
Research in Accounting Journal (RAJ) Vol. 6 No. 1 (2025): RAJ (Research in Accounting Journal)
Publisher : Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/raj.v6i1.10464

Abstract

This study aims to provide empirical evidence on the mediating role of Good Corporate Governance (GCG) in the relationship between capital structure, investment opportunity set (IOS), corporate social responsibility (CSR), and firm value in state-owned enterprises listed on the Indonesia Stock Exchange during the 2019–2024 period. The population comprised all 24 listed state-owned enterprises, from which 14 firms were selected using purposive sampling based on predetermined criteria. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 3.0, applying both outer and inner model evaluations. The findings indicate that CSR and capital structure do not have a direct significant effect on firm value, whereas the investment opportunity set positively influences firm value. Furthermore, Good Corporate Governance strengthens the relationship between CSR and firm value as well as between capital structure and firm value. However, GCG does not moderate the relationship between the investment opportunity set and firm value. These findings highlight the strategic importance of governance mechanisms in enhancing the value relevance of corporate financial and social policies within state-owned enterprises.
Co-Authors Arie Yusnelly M. Munawar Ansyori Muhammad Firmansyah Ratna Nurani Suryadi, Nanda Thi Kim Anh Vu Tiara Aulia Zahra