Wildan Fadhila
University of Milan

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Investment Decisions Among Young Investors: Mediating Role of Risk Perception and Risk Tolerance in Relationship Emotional Intelligence and Financial Literacy Siti Aisjah; Atim Djazuli; Cicik Retno Wati; Muhammad Fajrul Islam F; Wildan Fadhila; Nuraini Desty Nurmasari
Ekonika : Jurnal Ekonomi Universitas Kadiri Vol. 11 No. 1 (2026): April 2026
Publisher : Fakultas Ekonomi Universitas Kadiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30737/ekonika.v11i1.7031

Abstract

This study investigates the influence of financial literacy and emotional intelligence on investment decisions among Generation Z in East Java, considering the mediating roles of risk perception and risk tolerance. Employing a quantitative approach, data were collected from 500 respondents aged 18–24 with valid single investor identification (SID) and prior capital market investment experience. The data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The findings reveal that financial literacy significantly affects investment decisions, risk perception, and risk tolerance; however, its indirect influence through risk perception and tolerance is not significant. Conversely, emotional intelligence has a direct and significant effect on investment decisions and also indirectly influences them through both mediating variables. These results underscore the importance of integrating emotional intelligence and risk management training into financial education programs targeting young investors. This research highlights the psychological dimensions of financial decision-making and provides practical insights for policymakers, educators, and financial institutions seeking to promote more informed and sustainable investment behavior.
Waroeng Batja: Memberdayakan pembelajaran desa melalui literasi digital dan kewirausahaan sosial Wildan Fadhila; Ketut Candra Pangestu Putra
Dedicated: Journal of Community Services (Pengabdian kepada Masyarakat) Vol. 4 No. 1 (2026): Dedicated: Journal of Community Services (Pengabdian kepada Masyarakat)
Publisher : Universitas Pendidikan Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17509/dedicated.v4i1.607

Abstract

Waroeng Batja was developed as a community-based informal school in Panguragan Lor Village. This program is designed as a free, open, and participatory learning space. Waroeng Batja has succeeded in establishing a community-based informal learning ecosystem involving 70 school-age participants, consisting of 23 elementary school students, 31 middle school students, and 16 high school students, and supported by 30 student facilitators. The program is implemented through Participatory Action Research (PAR), with routine learning activities held three times a week, including reading habits, assistance with school assignments, English learning, basic digital literacy, local cultural learning, and entrepreneurial practices. Quantitatively, the entrepreneurship program involves 45 students, using 400 oyster mushroom bags that produce 180 kg of harvest, and utilizing 80 m² of land for vegetable cultivation with a yield of 120 kg. The entrepreneurship component generated revenue of Rp6,160,000, a surplus of Rp1,860,000, social cash funds of Rp958,000, measurable social benefits of Rp4,773,000, and a simple social return on investment of 1.11. In terms of culture, the initial assessment showed that none of the 10 purposively selected participants could name at least 3 forms of Cirebon culture. In contrast, in the final assessment, all 10 participants were able to name at least three forms of Cirebon culture and were involved in practicing and performing the Cirebon Mask Dance. These findings indicate that informal schools that integrate literacy, culture, and social entrepreneurship can serve as a contextual model of community service when supported by the participation of facilitators, village government, and partner networks, and by data-based evaluation.