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Journal : Journal of Educational Management Research

Financial Literacy as a Moderator of the Effects of Fintech Payment, Income, and Hedonic Lifestyle on Impulse Buying among Generation Z Panjaitan, Priskila; Azazi, Anwar; Fitriana, Ana; Ristyawan, M. Ridwan; Syahputri, Anggraini
Journal of Educational Management Research Vol. 5 No. 2 (2026)
Publisher : Al-Qalam Institue

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61987/jemr.v5i2.2014

Abstract

This study aims to examine the influence of fintech payment usage, income, and hedonic lifestyle on impulse buying behavior among Generation Z, as well as to analyze the moderating role of financial literacy in these relationships. A quantitative approach was employed using a cross-sectional survey design. The sample consisted of 280 respondents selected using the Slovin formula. Data were collected through questionnaires and analyzed using moderated regression analysis with SmartPLS version 4.1.1.6. The results indicate that fintech payment usage, income, and hedonic lifestyle have positive and significant effects on impulse buying behavior. Financial literacy significantly weakens the relationship between hedonic lifestyle and impulse buying. However, it does not significantly moderate the effects of fintech payment usage and income on impulse buying. These findings imply that improving financial literacy can serve as a strategic mechanism to reduce the negative impact of a hedonic lifestyle on impulsive purchasing decisions. The study contributes to the literature on consumer behavior by highlighting the protective role of financial literacy in the digital financial ecosystem and provides practical insights for policymakers and financial educators in designing interventions to promote responsible consumption among young consumers.
ESG Disclosure, Financial Performance, and Firm Value: The Mediating Role of Competitive Advantage Khaulah, Haya Inayah; Azazi, Anwar; Fitriana, Ana; Ristyawan, Mochammad Ridwan; Mustika, Uray Ndaru
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.v5i3.2017

Abstract

Understanding how sustainability disclosure and financial performance shape firm value remains an important issue in corporate governance and capital market studies. The purpose of this research is to examine the influence of Environmental, Social, and Governance (ESG) disclosure and financial performance on firm value, with competitive advantage acting as a mediating variable. A quantitative approach was employed using panel data from 46 publicly listed companies over the 2021–2024 period. The analysis utilized panel regression combined with path analysis to evaluate both direct and indirect relationships among variables. The findings indicate that financial performance has a positive and significant effect on firm value, confirming its central role in determining market valuation. In contrast, ESG disclosure does not show a significant direct effect on firm value. Furthermore, ESG disclosure demonstrates a negative relationship with competitive advantage, while financial performance positively influences competitive advantage. Mediation analysis reveals that competitive advantage does not mediate the relationship between ESG disclosure and firm value but partially mediates the relationship between financial performance and firm value. These findings imply that companies should strengthen financial performance as a strategic foundation while integrating ESG practices more effectively to enhance long-term competitive positioning and firm value.
Co-Authors Adelia, Alfina Adiananta, Bayu Fahmi Agustin, Dela Ahmad Shalahuddin, Ahmad Alaydrus, Hafidz Rifqi Ana Fitriana Andika, Wahyu Angelina, Deva Anggraini Syahputri Anggriani, Yeni Anura, Dhea Arbain, Zailani Arestha, Rully Ariandini, Aulia Arifin Firdaus Bosrin, Adrian Chafsoh, Zannuba Arifah Damayanti, Syifa Putri Daud, Ilzar Deva, salsabilla Dio, Louisio Dody Pratama Marumpe Efa Irdhayanti Eka, Yuliana Yuspita Elvi Yuli Machmudah Endah Mayasari Erna Listiana Fahruna, Yulyanti Fajar Fajar Fauzan, Rizky Febriana Louw Fransisca, Linda Giriati Giriati, Giriati Guntur, Nethlyn Vincyarif Gusti Hardiansyah Hafizi, Mohamad Harry Setiawan Helma Malini Helma Malini, Helma Hendri, M. Irfan Heriyadi Heriyadi, Heriyadi I. K, Maria Christiana Ikram Yakin Ilzar Daud Iman Ahmad Syahbandi Irdhayanti, Efa Isfahan, Saif Raafi'in Izza Haniyah Juniwati Juniwati Juniwati Karsim Khaulah, Haya Inayah M. Irfani Hendri Maharani, Puspita Manurung, Jesaya Herlangga Maria Christiana Iman Kalis Maria Christiana Iman Kalis, Maria Christiana Maria Magdalena Marisca, Tirza Eudia Misbahussaniyyah, Alfiyyah Muhammad Afif Muhammad Nurwahyudi Mustaruddin Mustarudin, Mustarudin Mustika, Uray Ndaru Ndaru Mustika, Uray Novelia Novelia, Novelia Nur Afifah Panjaitan, Priskila Perawati Perawati, Perawati Pratama, Agung Hidayat Purmono, Bintoro Bagus Putra, Rafi Risya Putri, Yuliani Alfiani Villye Adriani Ramadania Ramadania, Ramadania Raudhatusukma, Damia Ristyawan, M. Ridwan Ristyawan, Mochammad Ridwan Salomo, Oloan Sapitri, Elsi Nanda Sartika, Lili Sumarno, Tino Syahbandi Syahputri, Anggraini Theliya, Theliya Titik Rosnani Uray Ndaru Mustika utari, Della Vemas, Vinsensius Violita Indah Permani Wendy Wendy Wenny Pebrianti Yankhi, Yankhi Yubileus, Fransisco