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INTERAKSI ANTARA FINANCIAL LITERACY, EXPERIENCED REGRET, FRAMING EFFECT, MENTAL ACCOUNTING, DAN SELF-CONTROL DALAM KEPUTUSAN INVESTASI: PERAN TOLERANSI RISIKO SEBAGAI MEDIATOR Lani Djaini; Dedy Takdir Syaifuddin; Salma Saleh; Valentinus Amstrong TN
Jurnal Manajemen dan Kewirausahaan Vol. 17 No. 1 (2025): Jurnal Manajemen dan Kewirausahaan
Publisher : Jurusan Manajemen FEB UHO

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55598/jmk.v17i1.27

Abstract

This study examines the influence of financial literacy, experienced regret, framing effect, mental accounting, and self-control on investment decisions, with risk tolerance as a mediating variable. The population consists of 1,188 active investors in Kendari City registered with the Indonesia Stock Exchange Representative Office in Southeast Sulawesi. A total of 299 respondents were selected using purposive sampling. Data were collected through questionnaires and analyzed using the SEM-PLS method with SmartPLS software. The results indicate that financial literacy, framing effect, mental accounting, and self-control have a significant positive effect on risk tolerance, while experienced regret has a significant negative effect. Furthermore, financial literacy, experienced regret, mental accounting, and self-control directly influence investment decisions, whereas the framing effect does not have a direct influence. Risk tolerance is proven to mediate the relationship between these five variables and investment decisions.