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All Journal EKONOMI, KEUANGAN, INVESTASI DAN SYARIAH (EKUITAS) Jurnal Ekonomika Manajemen Dan Bisnis
Tanjung, Oktami Nabella
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Economics, Econometrics & Finance Education

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Pengaruh Literasi Keuangan, Digital Payment, Media Sosial Terhadap Perilaku Konsumtif Mahasiswa Universitas Palangka Raya Tanjung, Oktami Nabella; Nurwati, Solikah; Rajagukguk, Katarina Rani; Br Bangun, Nia Adelina
Jurnal Ekonomi Manajemen dan Bisnis (JEMB) Vol. 4 No. 1 (2025): Januari - Juni
Publisher : CV. ITTC INDONESIA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47233/jemb.v4i1.2931

Abstract

The increasing trend of consumptive behavior among university students in the digital era has become a critical concern requiring comprehensive analysis. The core issue of this study lies in the high level of student consumption behavior that is disproportionate to their financial literacy, further intensified by the ease of digital payments and the influence of social media. This research aims to analyze the effects of financial literacy, digital payment, and social media on the consumptive behavior of students at Universitas Palangka Raya. A quantitative research approach was employed, involving the distribution of Likert-scale questionnaires to 202 students selected through non-probability sampling. The data were processed using multiple linear regression with SPSS version 25, including validity and reliability testing, classical assumption testing (normality, linearity, multicollinearity, heteroscedasticity, and autocorrelation), as well as t-tests and F-tests. The findings reveal that digital payment and social media have a positive and significant impact on consumptive behavior, with social media emerging as the most influential factor. Conversely, financial literacy has a negative but statistically insignificant effect. The regression model explains 37.6% of the variation in students’ consumptive behavior, with the remaining 62.4% influenced by external factors not included in the model. These results underscore the importance of practical financial education, increased awareness of digital financial tools, and critical engagement with social media to mitigate excessive consumption tendencies among students in today’s digital consumption culture.
Pengaruh Nilai Perusahaan dan Financial Distress terhadap Harga Saham dengan Struktur Modal sebagai Moderasi Tanjung, Oktami Nabella; Sarlawa, Rita; Widyaningsih, Dhina Sri; Hamzah, Pratiwi
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 4 (2026): May 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i4.9806

Abstract

This study is grounded in the volatility of LQ45 stock prices on the Indonesia Stock Exchange (IDX) during 2020–2024, influenced by global economic dynamics and post-pandemic conditions. This study aims to examine the impact of firm value and financial distress on stock prices, as well as to explore the role of capital structure as a moderating variable. The study employs a quantitative method with secondary data sourced from corporate financial reports. Purposive sampling technique yielded 9 companies with 45 observations. Data processing was conducted through PLS-SEM combined with Moderated Regression Analysis (MRA). The findings reveal that firm value has a positive and significant effect on stock prices (T-statistic = 5.912; p = 0.000), suggesting that higher company valuation leads to greater investor appreciation. In contrast, financial distress shows no significant effect on stock prices (β = 0.002; p = 0.990), as financial distress information for large-cap LQ45 issuers is already priced in early by investors. Capital structure successfully moderates the relationship between firm value and stock prices (T-statistic = 2.495; p = 0.013), indicating that an optimal financing composition strengthens the positive signal of firm value in the market. However, capital structure fails to moderate the impact of financial distress on stock prices (β = −0.189; p = 0.261), suggesting that market sentiment and external factors dominate stock price movements under financial pressure conditions. The overall model explains 55.1% of stock price variation. These results indicate that corporate financing decisions are more dominated by firm value and capital structure than by financial distress risk. This study provides managerial implications for investors and corporate management in designing increasingly accurate and strategic financial policies to enhance firm value and stock price stability in the capital market.
Co-Authors Br Bangun, Nia Adelina Hamzah, Pratiwi Rajagukguk, Katarina Rani Sarlawa, Rita Solikah Nurwati Widyaningsih, Dhina Sri