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Intention to Use Cryptocurrency in Batam City among Millennials Marheni, Dewi Khornida; Jofia, Nurul; Candy
Journal of Global Business and Management Review Vol. 7 No. 1 (2025): Journal of Global Business and Management Review
Publisher : Program Sarjana Manajemen Universitas Internasional Batam

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37253/jgbmr.v7i1.10118

Abstract

The intention of individuals to use cryptocurrency is influenced by several factors, including financial literacy, herding behavior, and perceived risk. The purpose of this research is to explore how behavioral finance affects the intention to use cryptocurrency. This study employs a quantitative method. The sampling technique used is purposive sampling by distributing questionnaires based on certain criteria. Data is analyzed using the PLS-SEM method. The sample used for testing consists of 401 respondents who use cryptocurrency. The results of the study indicate that herding behavior and perceived risk have a significant influence on the variable of behavioral intention to use cryptocurrency. This research is important because, before deciding to invest in cryptocurrency, it is crucial for millennials to conduct thorough research, consider their individual risk profiles, and not just follow trends.
Antecedent and Consequence Analysis of Investor Behavior Variables in Retail Shares on The Indonesian Stock Exchange Yuwono, Wisnu; Antalius, Yosep Deki; Ibrahim, Mukdad; Putra, Edy Yulianto; Marheni, Dewi Khornida
Jurnal Aplikasi Bisnis dan Manajemen Vol. 11 No. 2 (2025): JABM Vol. 11 No. 2, May 2025
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/jabm.11.2.391

Abstract

Background: The Indonesia Stock Exchange (IDX) over the last four years (2019-2022) shows an average increase in the number of investors of 60.91%. However, this did not significantly impact market capitalization, which grew 9.86%, and the average growth of the Jakarta Composite Index, which was only 3.03% over the last four years. The data is very interesting to analyze further regarding investor behavior in investing in the stock market.Purpose: This research aims to analyze the influence of financial knowledge, investment experience, information media, and social interaction on retail investor behavior and the influence of retail investor behavior on investment decisions. Design/methodology/approach: Research data was taken from 292 stock investors, using a purposive sampling technique. Data processing and analysis use Structural Equation Modeling (SEM) with Smart PLS 3.2.9. Finding/Result: The research results show that financial knowledge and information media do not have a significant effect on retail investor behavior. Investment experience and social interaction have a positive and significant effect on retail investor behavior. Retail investor behavior has a significant influence on investment decisions. Other findings show that investor behavior cannot mediate the relationship between the variables of financial knowledge, investment experience, information media, and social interaction on investment decisions. Conclusion: Financial knowledge and media information are no longer the basis of investor behavior, both of which have been replaced by more subjective factors, namely investment experience and social interaction. Investor behavior is also unable to mediate the relationship between the four variables and investment decisions.Originality/value (State of the art): This study is to investigates the relationship between fundamental aspects and subjective aspects on retail investor behavior and the influence of investor behavior on investment decisions, so that the authors develop new models in research. Fundamental aspects are no longer something interesting for investors because of less credible information, so they prefer to use experience and social interaction. The role of company managers is to provide more credible information through financial reports, and the need for information media management in encourage investors to invest. Keywords: investment decision, retail investor behavior, financial knowledge, investment experience, media information, social interaction
Investigating The Financial Behavior In Batam’s Younger Generations: Does Financial Self-Efficacy Mediate? Marheni, Dewi Khornida; Tazkia, Putri; Hashim, Hanini Ilyana Che; Wijaya, Cynthia Anna; Yuwono, Wisnu
Jurnal Dinamika Manajemen Vol. 16 No. 1 (2025): March
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v16i1.14942

Abstract

This study examines the financial behavior of Generation Y and Z in Batam by highlighting the role of psychological factors. Unlike previous research that emphasizes low financial literacy as the primary cause of poor financial behavior, this study explores how locus of control and financial self-efficacy mediate or moderate that relationship. Using a causal research design, snowball sampling technique, and online questionnaires, the findings reveal that both financial literacy and locus of control significantly influence financial behavior, with financial self-efficacyserving as a mediator. These results suggest that financial behavior is shaped not only by financial literacy but also by psychological factors such as self-control. The practical implication is the need for financial education programs that enhance not only knowledge but also psychological skills to support more informed financial decision-making.
THE PSYCHOLOGICAL AND EDUCATIONAL DRIVERS OF INVESTMENT DECISIONS: A STUDY ON GEN Y AND GEN Z IN BATAM CITY Marheni, Dewi Khornida; Serina, Serina; Hashim, Hanini Ilyana Che; Ramadani, Arienda Gitty
Journal of Management Small and Medium Enterprises (SMEs) Vol 18 No 2 (2025): JOURNAL OF MANAGEMENT Small and Medium Enterprises (SME's)
Publisher : Universitas Nusa Cendana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35508/jom.v18i2.20434

Abstract

The primary purpose of this research is to thoroughly analyze the influence of overconfidence and herding behavior on stock investment decisions. Additionally, this research aims to investigate the moderating effect of financial literacy on the relationship between these behavioral factors (overconfidence and herding) and investment decisions. This research is quantitative research. The sample of this research is Gen Y and Gen Z stock investors in Batam City, Indonesia. The research analyzed the data using Partial Least Square Structural Equation Model (PLS-SEM), an advanced statistical technique that allows examining complicated relationships among observed variables and latent variables. The findings have revealed that overconfidence has a significant positive effect on investment. Similarly, herding significantly positively affects investment decisions, while financial literacy successfully moderates the relationship between overconfidence and investment decisions; however, it does not successfully moderate the relationship between herding and investment decisions. Keywords: Financial Literacy; Herding; Investment Decision; Overconfidence
Financial Literacy, Financial Parenting, and Riba Awareness: Drivers of BNPL Use Among Muslim Youth Marheni, Dewi Khornida; Widiyanti, Riski; Haryanto, Hery; Cruz II, Roque B.
Jurnal REKSA: Rekayasa Keuangan, Syariah dan Audit Vol. 12 No. 2 (2025)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/jreksa.v12i2.13777

Abstract

This study explores the effect of financial literacy, financial parenting, and knowledge about riba on Muslim consumer behavior using Buy Now Pay Later (BNPL) services, with financial self-efficacy and perceived risk of usury as mediators. Through a mixed approach (quantitative on 402 Muslim respondents of generation Y and Z with formal Islamic education and qualitative through interviews with six informants), this study found that financial literacy does not directly affect the use of BNPL. However, financial parenting significantly increases financial self-efficacy, which drives using BNPL. In addition, understanding riba increases the perception of usury risk, ultimately reducing the intention to use BNPL. The implications of this study highlight the importance of financial education in the family and understanding of Islamic values in shaping responsible consumer behavior, as well as its relevance for Islamic financial policy and education.
Co-Authors Abner O nesimus Sijabat Ade Olivia Agus Susanto Alex Alex Alfred Joven Angelina Wulan Juniarty Angellyn Lim Anmelrina Antalius, Yosep Deki Ardi Hermanto Arienda Gitty Ramadani Arienda Gitty Ramadani Ayu Purnama Calvin Calvin Candy Candy Candy Cheristina Cheristina Cindy Ellysa Cindy Ellysa Cing Mei Cruz II, Roque B. Darvin Darvin Desi Mulyati Dessy Aliandrina Dhifira Annisa Widyasari Dhifira Annisa Widyasari Dhifira Annisa Widyasari Diana Diana Diana Merliana Rahman Eddy Oktarianto Ellen Ellen Eni Valentina Enje Aprilla Erick Erick Evelyn Evelyn Evelyn Fanesha Nissy Kusweanto Firman Adiyasa Fitri Sembiring Milala Grace Geovanni Gracia Melani Greece Agustin H, Andre Steven Hashim, Hanini Ilyana Che Helen Tan Hendry Hendry Heri Hartono Herman Herman Hery Haryanto Hery Haryanto Hesniati Hesniati Hesniati, Hesniati Ibrahim, Mukdad Jeffri Winardy Jevfri Jevfri Jimmy Cung Joey Joey Jofia, Nurul Johny Budiman Joycelin Joycelin Julia Rahayu Putri Julianto Julianto Junita Junita Kelvin Kendri Setiawan Kristina Kristina Laurent Aranathasya Selay Leonardo Christofher Lindawati Lindawati Lusi Lusi Lydia Desrita Marcelino Marcelino Marthin, Ricko Maudy Febrianna Meillverrani Erline Mellitania Surya Mentari Indah Sari Michelle Selvia Liu Milenia Ong Mirza Salman Pahlavi Muhammad Taufik Ong, Milenia Putra, Edy Yulianto Ramadani, Arienda Gitty Rano Ardiansyah Ratih Anggraini Ricky Wijaya Rieza Melinda Rivaldo Fariadi Ivanda Robin Robin Salim, Silvia Satya Satya Selvia Eka Marliana Sepbianto Sepbianto Serina, Serina Shellin Shellin Shelvi Shelvi Sherry Sherry Sherry Shirley Feblicia Silvy Gresia Stella Yosephine Suryati Suryati Susanti Susanti Suwandi Suwandi Syelen Syelen Tazkia, Putri Tri Anggi Astuti Valentina, Cindy Vanni Valentina Veronica Veronica Viviani Viviani Widiyanti, Riski Wijaya, Cynthia Anna Wily Wily Winardy, Jeffri Wisnu Yuwono Yandi Suprapto Yanni Yanni Yulfis Wandi Yulfiswandi Yulfiswandi