Septian Wicaksono
Universitas Negeri Semarang

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PENGARUH PENGETAHUAN INVESTASI, PERSEPSI MANFAAT, DAN LITERASI KEUANGAN TERHADAP MINAT INVESTASI MAHASISWA DENGAN PERAN MODERASI LOSS AVERSION BIAS PADA KSPM DI KOTA SEMARANG Septian Wicaksono; Muhammad Feriady
OIKOS: Jurnal Kajian Pendidikan Ekonomi dan Ilmu Ekonomi Vol 10 No 2 (2026): OIKOS: Jurnal Kajian Pendidikan Ekonomi dan Ilmu Ekonomi
Publisher : Universitas Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23969/oikos.v10i2.42616

Abstract

This study aims to examine the relationship between investment knowledge, perceived benefits, and financial literacy on investment interest among students who are members of the Capital Market Study Group (KSPM) in Semarang City, with loss aversion bias as a moderating variable. This study was designed using a quantitative approach with an explanatory research design. The research sample consisted of 100 active KSPM members who had participated in organizational activities for at least one semester. Data were collected through a closed questionnaire with a five-point Likert scale and analyzed using Partial Least Squares-based Structural Equation Modeling. The results of the analysis show that investment knowledge, perceived benefits, and financial literacy have a positive and significant effect on investment interest, with financial literacy emerging as the most dominant determinant. Conversely, loss aversion bias was found to have a negative effect on investment interest and to weaken the relationship between the three independent variables and investment interest. These findings provide empirical support for Prospect Theory, which asserts that investment interest and decisions are not solely determined by rational considerations but are also influenced by psychological biases toward potential losses