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All Journal Alignment: Journal of Administration and Educational Management
Hayati, Ratna Nabilah
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Education

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Pengaruh Motivasi Investasi, Risk Perception, dan Loss Aversion terhadap Keputusan Investasi Generasi Z Bandung yang Dimoderasi oleh Financial Literacy Hayati, Ratna Nabilah; Desmiza, Desmiza
Journal Of Administration and Educational Management (ALIGNMENT) Vol. 8 No. 3 (2025): Alignment: Journal of Administration and Educational Management
Publisher : Institut Penelitian Matematika, Komputer, Keperawatan, Pendidikan dan Ekonomi (IPM2KPE)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31539/alignment.v8i3.14368

Abstract

This study aims to examine the influence of investment motivation, risk perception, and loss aversion on investment decisions and the moderating role of financial literacy on generation Z domiciled in Bandung. The research method used is quantitative with a cross-sectional approach, involving 162 respondents aged 17–27 years who have or are investing, taken through purposive sampling. Data were collected using an online questionnaire, tested for validity and reliability, then analyzed using multiple linear regression and Moderated Regression Analysis (MRA) via SPSS 27. The results of the study indicate that investment motivation and loss aversion have a significant positive effect on investment decisions, while risk perception has a significant negative effect. In addition, financial literacy is proven to moderate the relationship between the three independent variables on investment decisions. Conclusion: increasing financial literacy is the key to encouraging rational investment decisions among generation Z.  Keywords: Loss Aversion, Investment Motivation, Investment Decisions, Risk Perception
Co-Authors Desmiza, Desmiza