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The Impact of Digital Financial Literacy on Investment Decisions in Mutual Funds and Money Markets among Millennials Fatihudin, Didin; Sayekti, Fitria Ningrum; Sukarana, Murdiani; Sulandjari, Rekno; Tahu, Gregorius Paulus
Jurnal Ilmiah Manajemen Kesatuan Vol. 14 No. 2 (2026): JIMKES Edisi March 2026
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v14i2.5142

Abstract

The rapid growth of digital financial services has transformed how individuals manage and invest their money, particularly among millennials who are more inclined to use online platforms for financial transactions. This study investigates the impact of digital financial literacy on investment decisions in mutual funds and money markets among millennials. As digital platforms become increasingly prevalent, understanding how millennials’ financial literacy affects their ability to make informed investment choices is crucial. The research employs a library research method, analyzing secondary data from scholarly articles, books, and previous studies. The findings indicate that millennials with higher levels of digital financial literacy make more informed and strategic investment decisions, demonstrating improved risk management and better use of digital platforms. In contrast, those with lower financial literacy are more prone to impulsive decisions and external influences. The study concludes that enhancing digital financial literacy is essential for empowering millennials to make responsible investment choices, thereby contributing to better financial outcomes and sustainable wealth building. These findings imply that policymakers, educators, and financial institutions should prioritize digital financial education programs to strengthen millennials’ decision-making capabilities and promote long-term financial stability.
FAKTOR-FAKTOR YANG MEMPENGARUHI KEPUTUSAN INVESTASI PADA GENERASI Z DI KOTA DENPASAR Yunita Bili; I Gusti Ngurah Bagus Gunadi; Gregorius Paulus Tahu
VALUES Vol. 7 No. 1 (2026): Values
Publisher : Program Studi Manajemen Fakultas Ekonomi dan Bisnis UNMAS

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Abstract

Perkembangan teknologi digital telah mendorong Bertambahnya keikutsertaan Generasi Z terhadap kegiatan investasi, terutama di wilayah perkotaan seperti Kota Denpasar. Meskipun tingkat inklusi keuangan di kalangan generasi muda relatif tinggi, hal tersebut belum sepenuhnya diimbangi oleh literasi keuangan, perilaku keuangan, dan pengelolaan gaya hidup yang memadai, sehingga berpotensi memengaruhi kualitas keputusan investasi yang diambil. Penelitian ini bertujuan untuk menganalisis pengaruh literasi keuangan, perilaku keuangan, serta gaya hidup terhadap keputusan investasi Generasi Z di Kota Denpasar. Studi ini menggunakan metode survei yang dikombinasikan dengan pendekatan kuantitatif. Responden penelitian ini terdiri dari penduduk Kota Denpasar dari Generasi Z yang sudah familiar atau pernah melakukan investasi. Teknik sampling yang digunakan adalah purposive sampling, dan data dikumpulkan melalui kuesioner. Analisis regresi linier berganda digunakan untuk menganalisis data guna menentukan bagaimana setiap variabel independen mempengaruhi variabel dependen. Temuan menunjukkan bahwa pilihan investasi Generasi Z di Kota Denpasar dipengaruhi secara positif dan signifikan oleh literasi keuangan. Pengelolaan keuangan yang baik mendorong pilihan investasi yang lebih rasional, seperti yang terlihat dari dampak yang positif dan signifikan yang ditimbulkan oleh perilaku keuangan terhadap pilihan investasi. Di sisi lain, gaya hidup memiliki dampak besar terhadap pilihan keuangan ; Generasi Z cenderung kurang membuat pilihan investasi yang bijaksana jika mereka menjalani gaya hidup konsumtif.
Understanding Financial Behavior Among Gen Z: Evidence From Financial Literacy, Financial Inclusion, And Lifestyle in Denpasar, Indonesia Tahu, Gregorius Paulus; Zakharia, Ido; Widnyana, I Wayan
EMAS: Jurnal Ekonomi, Manajemen dan Bisnis Vol. 7 No. 5 (2026): EMAS
Publisher : Program Studi Manajemen Fakultas Ekonomi dan Bisnis Universitas Mahasaraswati Denpasar.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36733/emas.v7i5.14122

Abstract

Financial behavior is defined as the manner in which an individual administers and manages their financial resources. This encompasses a wide range of actions, including the management of expenses, the regulation of income, and the execution of financial decisions that are deemed to be the most suitable. Advancements in financial technology have precipitated substantial shifts in financial management patterns, particularly among Generation Z, who are progressively more accustomed to utilizing digital financial services for transactions and acquiring financial information. This observation suggests that Gen Z's financial behavior is not yet fully established and continues to be influenced by a variety of internal and external factors. This phenomenon provides a foundational framework for investigating the factors that shape Gen Z's financial behavior, with particular attention to the distinction between positive and negative financial behaviors. The objective of this study is to analyze the influence of financial literacy, financial inclusion, and lifestyle on Gen Z's financial behavior. The present study employs a quantitative approach, with a sample size of 140 respondents selected via purposive sampling based on the formula by Hair et al. The results indicate that financial literacy, financial inclusion, and lifestyle each have a positive and significant influence on Gen Z's financial behavior. It is anticipated that these findings will serve as a foundation for Gen Z to cultivate more judicious financial management skills and as a point of reference for future researchers to develop studies by incorporating additional variables that may influence financial behavior.
Examining The Impact of Profitability, Investment Decisions, And Dividend Policy on Firm Value: Evidence From Indonesian Listed Food And Beverage Companies Dewi, Dewa Ayu Ade Sintia; Gunadi, I Gusti Ngurah Bagus; Tahu, Gregorius Paulus
EMAS: Jurnal Ekonomi, Manajemen dan Bisnis Vol. 7 No. 5 (2026): EMAS
Publisher : Program Studi Manajemen Fakultas Ekonomi dan Bisnis Universitas Mahasaraswati Denpasar.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36733/emas.v7i5.14123

Abstract

A firm's optimal firm value can attract potential funding sources, such as investors. Firm value is defined as the performance of a company, which has the capacity to influence investors' perceptions regarding the allocation of investment funds in a company. The objective of this study is to examine the impact of dividend policy, debt policy, and profitability on firm value among food and beverage sector companies listed on the Indonesia Stock Exchange (IDX). The population of this study consists of food and beverage sector companies listed on the Indonesia Stock Exchange for the 2020–2023 period, with a total population of 93 companies. The sample size was determined using purposive sampling, resulting in 17 companies meeting the criteria for inclusion in this study, with a total of 85 observation data points. The data analysis techniques employed in this study encompass classical assumption tests, multiple linear regression analysis, coefficient of determination analysis, the Y-test, and the t-test. The findings of the study suggest a positive and significant relationship between profitability and firm value. Investment decisions do not exert a substantial influence on firm value. The dividend policy of a firm can exert a deleterious effect on the firm's value.
The Influence of Human Resources Competence, Utilization of Accounting Information Systems, and Internal Control Systems: (Quality of Financial Statements with Transformational Leadership Style as a Moderation Variable in BMKG Bali Province) Aniceta Ardyahayu Anggarari; Gregorius Paulus Tahu; I Made Dauh Wijana
International Journal of Economics and Management Sciences Vol. 3 No. 2 (2026): May : International Journal of Economics and Management Sciences
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/ijems.v3i2.1238

Abstract

The quality of government agency financial reports demonstrates accountability and transparency in public financial management, meeting the demands of good governance. This study aims to analyze the influence of human resource (HR) competency, the use of accounting information systems, and internal control systems on financial report quality, and to examine the role of transformational leadership as a moderating variable at the BMKG (Meteorology, Climatology, and Geophysics Agency) of Bali Province. This study employed a quantitative approach with a survey method. The population comprised all 75 financial and asset management employees at four BMKG work units in Bali Province. The sampling technique used saturated sampling, with all members serving as respondents. Primary data were collected through questionnaires and analyzed using Structural Equation Modeling (SEM) based on Partial Least Squares (PLS) using SmartPLS software. The results of the study indicate that HR Competence has a positive and significant effect on the quality of financial reports, Accounting Information Systems do not affect the quality of financial reports, Internal Control Systems have a positive and significant effect on the quality of financial reports, Transformational Leadership Style has a positive and significant effect on the quality of financial reports, Transformational Leadership Style is unable to moderate the influence of HR and the use of accounting information systems on the quality of financial reports, and Transformational Leadership Style is proven to moderate the influence of internal systems on the quality of financial reports at the BMKG of Bali Province.
Co-Authors Aditya, I Putu Rendi Adnyana, I Wayan Eka Anak Agung Dian Padma Dewi Anak Agung Dwi Widyani Andika, Ary Wira Aniceta Ardyahayu Anggarari Anik Yuesti Antara, I Gede Surya Arimbawa, I Gusti Made Darma Putra Artana, I Nengah Yudi Asih, Ni Luh Merry Astiti, Ni Luh Sasi Daniel Manek DESAK PUTU SRI UTAMI DEWI Dewa Ayu Diah Pradnya Swari Dewi, Dewa Ayu Ade Sintia Didin Fatihudin Dominicius Djoko Budi Susilo Dominicius Djoko Budi Susilo Febriyanti, Ni Putu Putri Fitria Ningrum Sayekti Histayanthi, Kadek Dwi HITAYANI, Cokorda Putri I Gst. Ngr Bagus Gunadi I Gst. Ngr Bagus Gunadi I Gusti Agung Teja Kusuma I Gusti Ayu Cantika Pradnyani I Gusti Ayu Imbayani I Gusti Ayu Made Ratna Pertiwi I Gusti Ngurah Bagus Gunadi I Gusti Ngurah Putu Wiratama I Kadek Oca Santika I Made Adi Gunawan I Made Dauh Wijana I Nengah Suardhika I Ngurah Santika I Wayan Sukadana I Wayan Widnyana I Wayan Wira Darma Putra Ida Ayu Lia Maheswari Kadek Dwinata Hendrayana Kadek Pande Arta Wiguna Kintan Limiansih Komang Brian Krisna Kanugrawan Krisna, Ni Made Ayu Kusuma, I Gusti Agung Teja Kusuma, I Gusti Ngurah Agung Eka Teja LAKSEMINI, Kadek Dewi Indah Sri Langgeng, Murtini Made Ika Prastyadewi Mahendra, I Wayan Risman Aditia MARSELIANA YULTI INDAM Murtini Langgeng Nengah Landra Ni Kadek Astiani Ni Kadek Dwi Suciati Ni Kadek Lilis Ni Ketut Ceria Dewi Ni Ketut Sri Wulandari Ni Ketut Sri Wulandari Ni Luh Ayu Grahetha Tirta Dewi Suastra Ni Luh Gede Saputri Dewi Ni Luh Gede Saputri Dewi Ni Luh Putu Anggi Suartini Ni Made Dwi Puspitawati Ni Made Mita Putri Handayani Ni Made Ridya Ardyanti Ni Made Satya Utami Ni Nyoman Ari Novarini Ni Putu Ayu Mirah Laraswati Ni Putu Chindy Pratiwi Ni Putu Juniantari Ni Putu Juniantari Pradnyana, I Made Ardi Pratama, I Gede Wahyu Purnama, I Kadek Agus Aldi Putri, Ketut Adelya Karina Putu Agus Eka Rismawan Rahayu Condro Murti Raul Hidayat Rekno Sulandjari Sang Ayu Putu Mira Sanjaya, I Nyoman Arya Santos, Belmira Sagrada Ferrao Sapta Rini Widyawati Sari, Ni Putu Hana Puspita Setiadi, Hendri Sukarana, Murdiani Suparmiati, Ni Ketut Susilo, Dominicus Djoko Budi Trisnawati, Ni Wayan Monik Winarsih Winarsih Yenny Verawati Yuniarsa, Anak Agung Anggita Cayanti Yuniparmini, Ni Kadek Yunita Bili Zakharia, Ido