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Journal : Interdisciplinary Social Studies

Effects of Accounting Information, Financial Literacy and Risk Perception on Student Investment Decisions Firstikara, Ghania Callysta; Hidayat, Firman
Interdisciplinary Social Studies Vol. 5 No. 2 (2026): Interdisciplinary Social Studies
Publisher : International Journal Labs

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55324/iss.v5i2.1033

Abstract

This research is motivated by a paradoxical phenomenon in which only 5.46% of students from the Faculty of Economics and Business (FEB), Universitas Swadaya Gunung Jati Cirebon, participate in investment activities, far below the national average of young investors at 54.62%, despite having adequate theoretical investment knowledge. This study aims to analyze the influence of accounting information, financial literacy, and risk perception on FEB students’ investment decision-making to explain the gap between theory and practice. The novelty of this research lies in its focus on FEB students with formal economic education and the integration of accounting information, financial literacy, and risk perception within the Theory of Planned Behavior framework in a regional university context. This study employed a causal-associative quantitative approach involving 100 active students selected through purposive sampling. Primary data were collected using a five-point Likert-scale questionnaire and analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS). The results show that accounting information has a significant positive and dominant effect on investment decisions (? = 0.512), while risk perception also has a significant positive influence (? = 0.258). In contrast, financial literacy does not have a significant effect (? = ?0.061). Collectively, these variables explain 38.7% of the variance in students’ investment decisions. The findings indicate that the ability to analyze accounting information and manage risk perception is more decisive in investment decision-making than theoretical financial literacy. Therefore, strengthening financial statement analysis skills and integrating financial analysis and risk management practicum are recommended to increase students’ investment participation.
Co-Authors Abda, Gusnadi Abrori, Abrori Adelweis, Dinda Shafa Adzania Aghitsnillah, Nuro Qolbi Agus Budianto Akhmad Farid Akhmad Jazuli Al Farrosi, Faisholul Umam Aldri Frinaldi Alfarizi, Rois Aminuyati Amir, Yusnaweti Andy Hardianto Anggraeni, Feny Dwi Angkatno, Angkatno Apri Dwi Astuti Aprilia Kumala Dewi, Novi Ardani, Aliefia Miftakhul Arif Rakhman Arifin, Mochammad Iqbal Aruhi, Nasarudin Azwar, Zainal Bahar, Muchlis Bakhtiar, Syarifudin Budi Anna Keliat Dasman Lanin Deni Irawan, Deni Dewi, Novi Aprilia Kumala Diana Permatasari, Eka Dwi Anggraeni, Feny dwi purwanto Ekariani, Alfiah Ena Marlina Faturrohman, Yusuf Enril Fazira, Yefnika Felissa, Gita Shafa Firstikara, Ghania Callysta Hernawati Hernawati Hery Kresnadi Ida Ayu Putu Sri Widnyani Ida Rosnidah Ikaputera Waspada, Ikaputera Indira SNJ, Falentiana Junaedi, Abdus Salam JUWENAH JUWENAH Khairunnisa Khairunnisa Khodijah Khodijah Kuswoyo, Fitria Saphira Laksana Hendra Pamungkas, Agung Laksani, Mertiara Ratih Terry Lutfiana, Sofi Ma'rifani Fitri Arisa Maharani, Lulut Ernin Maulana, Mayasari Maulana, Yono Mayasari Mayasari, Mayasari Meria Zakiyah Alfisuma Milantara, Noril Mudakir, Farni Mulyatno, Roni Muryani, Susi Mustikasari Mustikasari Naskiroh, Naskiroh Nexvia, Cinta Marshanda Nur Asnawi Nurhidayah, Ariska Nurqolbiyah, Dina Ocvando, Khovadli Pamungkas, Agung Laksana Hendra Pangestu, Sinta Dewi Pawestri, Nanda Ayu Permatasari, Eka Diana Pramesti, Rahma Aulia Pramita Widodo, Yessy Prihatna, Nandang Purnawati, Yuliesi Putri Sabilla, Ghina Qodriani, Laela Ramlah Puji Astuti Rembrandt, Rembrandt Rheinjannie, Addiesty Amartha Rimi Gusliana Mais Ririn Widyastuti Wulaningsih Rivai, First San Hendra Rosyid, Nur Muhammad Roushan, Muhammad Evik Safitri, Talitha Aulia Nadifah Salsabila, Dilla Cipta Saputra, Rajib Saputra, Rizki Saputri, Wahyu Dwi Setyaningrum, Ikawati Sigalingging, Fery Kurniawan Silvia, Farah Faiqotus Sri Wilujeng, Eka Wahyu Subrata, Eko Suryani Suryani Susanto, Wigyo Susilastri, Susilastri Syamsiati . Teguh Haria Aditia Putra Toto Suharjanto Umar, Genius Utami, Dita Berliana Utami, Septy Diah Waluyo Sejati Watemin Wibowo, Nurhakim Yudhi Widhiastuti, Ratna Widianto, Rafif Widodo, Yessy Pramita Winarti Winarti Winda Wulandari, Winda Wisnu Widyantoro Yudhi Wibowo, Nurhakim Yumarni, Yumarni