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Investor Risk Behavior as a Mediator in the Influence of Financial Literacy on Millennial Investment Decisions: Evidence from Makassar, Indonesia Mongan, Claudio Julio; Halik, Johannes Baptista; Lambe, Kristian Hoegh Pride; Irdawati, Irdawati
Journal of Management and Business Review Vol 22, No 2 (2025)
Publisher : Research Center and Case Clearing House PPM School of Management

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34149/jmbr.v22i2.820

Abstract

This study examines how investor risk behavior influences the relationship between millennials' investment choices and financial literacy in Makassar, Indonesia. A structured survey with 96 respondents chosen by purposive sampling was used in a quantitative way. The data was analyzed using Structural Equation Modeling-Partial Least Squares (SEM-PLS). The findings show that financial literacy has no direct impact on investment choices. Nonetheless, it greatly influences investment decisions by having a considerable favorable impact on investor risk behavior. Additionally, the association between financial literacy and investing decisions is positively mediated by investor risk behavior. These findings indicate that financial knowledge alone is insufficient to induce sensible investment behavior unless integrated with risk tolerance. The study enhances behavioral finance by illustrating the interplay of cognitive and behavioral elements in millennial investing. Practical implications include a need for financial literacy initiatives that combine risk management training to strengthen the ability to make decisions in digital investment environments.
ANALYSIS OF SOURCES AND USE OF WORKING CAPITAL IN ASSESSING FINANCIAL PERFORMANCE AT PT GARUDA INDONESIA PERSERO (Tbk) Padang, Enrichus Sampe; Mongan, Benyamin; Mongan, Claudio Julio
Indonesian Journal Of Economy Studies Vol. 3 No. 2 (2024): Indonesian Journal Of Economy Studies
Publisher : Siddiq Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63828/ijes.v3i2.82

Abstract

The purpose of this study is to determine and analyze the sources and use of working capital at PT Garuda Indonesia Persero Tbk.The object of this research is PT Garuda Indonesia. The analytical method used in this research is descriptive analysis with a quantitative approach and data analysis used is analysis of balance sheet changes, sources and use of funds, sources and use of working capital and financial ratio analysis. The result of the study indicate that PT Garuda Indonesia Tbk applies the spending principle and can be seen from its working capital which has increased. Judging from the financial ratios, it is good, although there are still some things that are still lacking, but this can be improved with good financial management.Keyword: Working Capital Sources,Working Capital Use,Financial Performance,Financial Ratios
ANALYSIS OF RECEIVABLES MANAGEMENT SYSTEM AT BALO’ TORAJA SAVINGS AND LOAN COOPERATIVE SESEAN BRANCH Somba, Inda Sartika; Jaya, Amir; Mongan, Claudio Julio
Indonesian Journal Of Economy Studies Vol. 3 No. 2 (2024): Indonesian Journal Of Economy Studies
Publisher : Siddiq Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63828/ijes.v3i2.84

Abstract

This research aims to analyze the accounts receivable management system at the Balo' Toraja Savings and Loans Cooperative (KSP) Sesean Branch. Effective accounts receivable management is crucial for the sustainability and financial health of the cooperative. This study employs a qualitative descriptive method with a case study approach. Data were collected through interviews, observations, and analysis of relevant documents. The results indicate that the Balo' Toraja KSP Sesean Branch has implemented several procedures in accounts receivable management, but there are still some weaknesses that need to be addressed. This study recommends several improvements to enhance the effectiveness of accounts receivable management at the Balo' Toraja KSP Sesean Branch.Keyword: Accounts receivable management ,Savings and loans, cooperative,System analysis, Case study, Balo' Toraja KSP Sesean Branch
Analisis Efektivitas Penggunaan Modal Kerja pada PT Matahari Department Store Tbk Desy, Desy; Jaya, Amir; Mongan, Claudio Julio
RIGGS: Journal of Artificial Intelligence and Digital Business Vol. 4 No. 4 (2026): November - January
Publisher : Prodi Bisnis Digital Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/riggs.v4i4.4435

Abstract

Penelitian ini bertujuan untuk menganalisis efektivitas penggunaan modal kerja pada PT Matahari Department Store Tbk selama periode 2022–2024 melalui pendekatan kuantitatif deskriptif yang berfokus pada rasio likuiditas, rasio aktivitas, serta analisis sumber dan penggunaan modal kerja berdasarkan laporan keuangan tahunan perusahaan. Modal kerja yang dikelola dengan baik berperan penting dalam menjaga kelancaran operasional dan kemampuan perusahaan memenuhi kewajiban jangka pendek. Hasil penelitian menunjukkan bahwa efektivitas modal kerja perusahaan belum tercapai secara optimal, yang terlihat dari kondisi likuiditas yang berada di bawah standar industri ritel, termasuk current ratio, quick ratio, dan cash ratio yang menunjukkan kemampuan terbatas dalam memenuhi kewajiban lancar. Selain itu, analisis aktivitas memperlihatkan ketidakseimbangan, di mana perputaran kas dan piutang menunjukkan kinerja yang baik dan mendukung operasional, sedangkan perputaran persediaan dan modal kerja masih rendah sehingga belum mampu mencerminkan efisiensi penggunaan aset lancar secara keseluruhan. Analisis sumber dan penggunaan modal kerja juga mengindikasikan adanya fluktuasi yang berdampak pada perubahan modal kerja bersih dari tahun ke tahun. Meskipun pada tahun 2024 terjadi perbaikan, kondisi ini belum cukup untuk menunjukkan stabilitas pengelolaan modal kerja. Secara keseluruhan, penelitian ini menegaskan perlunya peningkatan pada struktur likuiditas, efisiensi pengelolaan persediaan, serta pengendalian sumber dan penggunaan modal kerja agar perusahaan lebih mampu mendukung kelancaran operasional dan meningkatkan kinerja keuangan di masa yang akan datang.
Investor Risk Behavior Moderation in Financial Literacy on Millennial Investment Decisions Mongan, Claudio Julio; Halik, Johannes Baptista; Lambe, Kristian Hoegh Pride; Irdawati
Jurnal Nusantara Aplikasi Manajemen Bisnis Vol 10 No 2 (2025): Jurnal Nusantara Aplikasi Manajemen Bisnis
Publisher : UNIVERSITAS NUSANTARA PGRI KEDIRI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29407/nusamba.v10i2.24968

Abstract

Research aim : This study examines the moderating role of investor risk behavior in the relationship between financial literacy and investment decisions among millennials. Design/Methode/Approach : A quantitative approach was employed, collecting data from 96 millennial investors through a structured survey. Structural Equation Modeling-Partial Least Squares (SEM-PLS) was utilized to analyze both direct and indirect relationships among variables. Research Finding : The findings indicate that financial literacy does not significantly influence investment decisions. However, financial literacy has a positive and significant impact on investor risk behavior, which, in turn, significantly influences investment decisions. Furthermore, investor risk behavior moderates the relationship between financial literacy and investment decisions in a positive and significant manner. Theoretical contribution/Originality : These results highlight the critical role of risk behavior as both a mediating and moderating mechanism in leveraging financial literacy for improved investment decision-making. Practitioner/Policy implication : The study's practical implications suggest that financial literacy programs should not only focus on enhancing knowledge but also on fostering risk management skills to support informed investment choices. Research limitation : This study is limited by its relatively small sample size and geographic focus on Makassar City, which may restrict the generalizability of the findings to broader populations. Additionally, the cross-sectional design captures only a snapshot of behavior, making it difficult to infer long-term patterns or causal relationships.