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All Journal JURNAL DINAMIKA MANAJEMEN DAN BISNIS Journal of Business and Behavioural Entrepreneurship JRMSI - Jurnal Riset Manajemen Sains Indonesia Jurnal Pemberdayaan Masyarakat Universitas Al Azhar Indonesia
Monica Dewi
Universitas Negeri Jakarta
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Languange, Linguistic, Communication & Media Public Health Social Sciences

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The EMPIRICAL STUDY: HOW FINANCIAL BEHAVIOR AND FOMO TO INFLUENCE GEN Z'S INVESTMENT DECISIONS WITH RISK TOLERANCE AS MODERATING VARIABLE Monica Dewi
JRMSI - Jurnal Riset Manajemen Sains Indonesia Vol. 17 No. 1 (2026): Jurnal Riset Manajemen Sains Indonesia
Publisher : Fakultas Ekonomi, Universitas Negeri Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21009/JRMSI.017.1.6

Abstract

This study aims to examine how financial behavior and Fear of Missing Out (FOMO) influence Generation Z’s investment decisions, with risk tolerance as a moderating variable. The research addresses the increasing participation of Gen Z in investment, often driven by emotional and social trends despite gaps in financial literacy. Using a quantitative method, data were collected through purposive and convenience sampling from 200 Gen Z individuals (aged 18–27) in Jakarta earning at least IDR 5,000,000 monthly. Structural Equation Modeling (SEM) with Partial Least Squares (PLS) was employed for analysis. The results indicate that financial literacy, financial inclusion, financial well-being, and FOMO significantly influence risk tolerance. Furthermore, financial literacy, inclusion, and well-being directly and indirectly affect investment decisions through risk tolerance. FOMO, while not directly significant, shows an indirect impact via increased risk tolerance. The findings conclude that risk tolerance plays a critical mediating role in shaping Gen Z’s investment decisions. These insights imply the need for targeted financial education programs that not only enhance financial knowledge but also address behavioral biases and emotional drivers, thereby enabling more rational and informed investment decisions among young investors.
Analysis of Personal Financial Management, Financial Literacy, and Digital Finance in Generation Z in Supporting Sustainable Consumption Monica Dewi; Agung Dharmawan Buchdadi; Wahyu Wastuti
Journal of Business and Behavioural Entrepreneurship Vol. 9 No. 2 (2025): Journal of Business and Behavioural Entrepreneurship
Publisher : LPPM Universitas Negeri Jakarta.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21009/JOBBE.009.2.05

Abstract

This study examines the influence of personal financial management, financial literacy, and digital finance on sustainable consumption among Generation Z in Indonesia. Using a quantitative approach with purposive and convenience sampling, data were collected from 40 respondents aged 18–23 with a minimum monthly income of IDR 5,000,000. The results, analyzed using SEM-PLS, indicate that all three variables personal financial management, financial literacy, and digital finance significantly impact sustainable consumption. The findings highlight the importance of financial literacy and digital tools in promoting environmentally and socially responsible consumption behaviors. This research contributes to the literature by integrating financial literacy, digital finance, and environmental awareness into a sustainable financial decision-making model for Generation Z, offering practical implications for policymakers and educators aiming to foster sustainable consumption practices.
Mengenal Investasi Sejak Dini: Membangun Generasi Melek Investasi yang Cerdas dan Bijak Monica Dewi; Wahyu Wastuti; Nofriska Krissanya; Melda Yanti; Nadine Prisila Maharani
Jurnal Pemberdayaan Masyarakat Universitas Al Azhar Indonesia Vol 8, No 1 (2025): Desember 2025
Publisher : Universitas Al Azhar Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36722/jpm.v8i1.4620

Abstract

Permasalahan utama yang dihadapi mitra, Al Ashriyyah Nurul Iman Islamic Boarding School di Parung, Kabupaten Bogor, adalah rendahnya tingkat literasi keuangan siswa, sebuah kondisi yang juga mencerminkan situasi nasional di mana generasi muda masih rentan terhadap praktik investasi ilegal. Untuk menjawab tantangan tersebut, program pengabdian masyarakat ini dilaksanakan dengan tujuan meningkatkan literasi keuangan dan pemahaman investasi sejak dini agar siswa mampu mengelola keuangan pribadi secara bijak serta mengenali risiko investasi bodong. Kegiatan diikuti oleh 30 siswa SMA melalui lima tahapan, yaitu sosialisasi literasi keuangan dasar, pelatihan interaktif manajemen keuangan dan investasi, simulasi stock game, investigasi sederhana terhadap investasi ilegal, serta pengenalan investasi berbasis syariah. Metode pelaksanaan dilakukan secara partisipatif dengan pemanfaatan teknologi digital dan pendampingan berkelanjutan. Hasil kegiatan menunjukkan adanya peningkatan signifikan pemahaman siswa, di mana rata-rata nilai pre-test 83 meningkat menjadi 92 pada post-test, atau naik 9 poin (+10,84%). Proporsi peserta dengan skor ≥90 juga naik dari 46,7% menjadi 76,7%. Selain peningkatan kognitif, kegiatan ini mendorong sikap lebih kritis terhadap tawaran investasi dan lahirnya inisiatif membentuk komunitas belajar investasi di sekolah. Dengan demikian, program ini berkontribusi pada pencapaian SDGs poin 4 tentang pendidikan berkualitas serta membentuk generasi muda yang cerdas, kritis, dan sesuai dengan prinsip keuangan Islam.Kata kunci: Investasi, Keuangan Digital, Manajemen Keuangan,  Perencanaan Keuangan 
Membangun Kemandirian Ekonomi Santri: Pelatihan Pencatatan dan Pelaporan Keuangan Untuk Bisnis Pesantren yang Berdaya Saing dan Berkelanjutan Dedi Purwana; Mohammad Sofwan Effendi; Wahyu Wastuti; Monica Dewi; Putri Galuh Mustiko Perwito; Ika Miftahul Janah; Nazwanda Junika Putri; Umi Waheeda
Jurnal Pemberdayaan Masyarakat Universitas Al Azhar Indonesia Vol 8, No 1 (2025): Desember 2025
Publisher : Universitas Al Azhar Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36722/jpm.v8i1.4629

Abstract

AbstrakPondok Pesantren Al Ashriyyah Nurul Iman menghadapi tantangan berupa rendahnya kapasitas pengelolaan keuangan pada unit usaha pesantren, sehingga transparansi dan akuntabilitas belum berjalan optimal. Kegiatan pengabdian masyarakat ini bertujuan meningkatkan pemahaman dan keterampilan santri serta pengelola dalam menyusun laporan keuangan yang akuntabel, transparan, dan berdaya saing. Program diikuti oleh 30 peserta selama empat minggu dengan metode edukatif-partisipatif berbasis experiential learning. Tahapan pelaksanaan meliputi persiapan, sosialisasi, pelatihan interaktif, praktik pencatatan, serta pendampingan langsung. Hasil evaluasi menunjukkan peningkatan signifikan terhadap pemahaman peserta, ditunjukkan oleh pergeseran nilai dari pre-test dengan rentang 31-40 ke nilai post-test ke kategori tinggi (85–100) dengan rata-rata 88,70. Selain itu, terbentuk tim administrasi keuangan santri yang berperan dalam mengelola keuangan pesantren secara lebih profesional, serta diterapkan sistem pencatatan digital sederhana untuk mendukung keberlanjutan tata kelola keuangan. Program ini tidak hanya memperkuat kemandirian ekonomi pesantren, tetapi juga berkontribusi terhadap pencapaian Sustainable Development Goals (SDGs), khususnya tujuan ke-8 mengenai pertumbuhan ekonomi inklusif dan berkelanjutan. Dengan demikian, kegiatan ini memberikan dampak nyata dalam mendorong transformasi manajemen keuangan di lingkungan pesantren. Kata kunci: Akuntabilitas Keuangan, Kemandirian Ekonomi, Pesantren, Pencatatan Keuangan, UMKM.
Membangun Jiwa Wirausaha: Literasi Keuangan sebagai Kunci Sukses dalam Membuka Usaha Mandiri Berkelanjutan Wahyu Wastuti; Monica Dewi; Titis Fatarina Mahfirah; Angella Priyatna; Atika Siti Hajar; Umi Waheeda
Jurnal Pemberdayaan Masyarakat Universitas Al Azhar Indonesia Vol 8, No 1 (2025): Desember 2025
Publisher : Universitas Al Azhar Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36722/jpm.v8i1.4625

Abstract

Permasalahan utama mitra, yaitu Pondok Pesantren Al Ashriyyah Nurul Iman, adalah rendahnya pemahaman akuntansi dasar dan pencampuran keuangan pribadi dengan usaha, yang menghambat pengelolaan bisnis santri secara profesional. Kegiatan pengabdian kepada masyarakat ini bertujuan meningkatkan literasi keuangan dan keterampilan kewirausahaan santri melalui pelatihan pencatatan serta pelaporan keuangan berbasis teknologi. Kegiatan diikuti oleh 30 santri setingkat SMA. Metode pelaksanaan meliputi ceramah interaktif, diskusi, praktik penggunaan aplikasi spreadsheet (Microsoft Excel dan Google Sheets), serta evaluasi melalui Pretest dan Posttest. Tahapan kegiatan meliputi analisis kebutuhan, penyampaian materi literasi keuangan, pelatihan pencatatan transaksi, penyusunan anggaran usaha, hingga evaluasi hasil pembelajaran. Hasil kegiatan menunjukkan adanya peningkatan signifikan pada kompetensi peserta, dengan rata-rata nilai Pretest sekitar 65 meningkat menjadi 83 pada Posttest, atau terjadi peningkatan sekitar 18%. Santri menjadi lebih terampil dalam mencatat transaksi, menyusun laporan laba rugi, serta memisahkan keuangan pribadi dan usaha. Program ini juga menumbuhkan kesadaran pentingnya transparansi keuangan dan mendukung pencapaian Sustainable Development Goals (SDGs) pada aspek pendidikan berkualitas dan pertumbuhan ekonomi berkelanjutan. Kata kunci: Kewirausahaan, Literasi Keuangan, Pencatatan Akuntansi, Santri, SDGs
Integrating Financial Technology, Behavioral Finance, and UTAUT to Develop a Sustainable Finance and Circular Economy-Based Digital Financing Ecosystem for Generation Z MSMEs Monica Dewi; Christian Wiradendi Wolor; Putri Haryani; Ria Afiany; Reza Ahmad Pahlevi; Nofriska Krissanya; Rochma Sudiati
JURNAL DINAMIKA MANAJEMEN DAN BISNIS Vol. 8 No. 2 (2026): Jurnal Dinamika Manajemen dan Bisnis
Publisher : LPPM Universitas Negeri Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21009/jdmb.v8i2.71123

Abstract

The rapid advancement of financial technology (FinTech) has created new opportunities to enhance financial accessibility and sustainability for Micro, Small, and Medium Enterprises (MSMEs). However, digital financing adoption among Generation Z entrepreneurs is influenced by technological, behavioral, and sustainability-related factors. This study aims to examine an integrated digital financing ecosystem by combining Financial Technology, Behavioral Finance, the Unified Theory of Acceptance and Use of Technology (UTAUT), Sustainable Finance, and Circular Economy. A quantitative approach was employed using a cross-sectional survey of 396 Generation Z MSME owners in Indonesia. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results indicate that the proposed model is valid, reliable, and effectively explains digital financing adoption. Performance expectancy emerged as the strongest factor influencing behavioral intention, followed by financial technology, sustainable finance, effort expectancy, circular economy, behavioral finance, social influence, and facilitating conditions. Furthermore, behavioral intention significantly promotes the actual use of digital financing services. These findings suggest that successful digital financing adoption requires not only technological readiness but also behavioral awareness, institutional support, and sustainability orientation. The study extends the UTAUT framework by integrating behavioral and sustainability perspectives and provides practical implications for developing inclusive and sustainable digital financing ecosystems for Generation Z MSMEs.
Unveiling the Link Between Leverage and Firm Performance: A Comparative Analysis of Sharia and Non-Sharia Compliant Firms in the Indonesia Stock Exchange Titis Fatarina Mahfirah; Suherman Suherman; Umi Widyastuti; Rosle Mohidin; Maylia Pramono Sari; Toni Heryana; Wahyu Wastuti; Monica Dewi
Journal of Business and Behavioural Entrepreneurship Vol. 9 No. 1 (2025): Journal of Business and Behavioural Entrepreneurship
Publisher : LPPM Universitas Negeri Jakarta.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21009/JOBBE.009.1.06

Abstract

This study investigates the influence of leverage on the performance of non-financial sector companies listed on the Indonesia Stock Exchange between 2012 and 2021. The analysis is segmented into three subsets: all companies, Sharia-compliant firms, and non-Sharia-compliant firms. Leverage is gauged through four metrics: debt to total asset ratio (DAR), debt to total equity ratio (DER), short-term debt to total assets (STD), and long-term debt to total assets (LTD). Firm performance is evaluated using return on assets (ROA), return on equity (ROE), and Tobin's Q. The study employs a quantitative approach, utilizing data from publicly listed companies. Leverage and performance are quantified using the specified metrics. Statistical analyses, including regression models, are conducted to examine the relationship between leverage and performance in each of the three subsets. The primary findings indicate a negative and statistically significant correlation between leverage and firm performance, as measured by ROA and ROE, across all company subsets. However, there is a positive and statistically significant impact of leverage on Tobin's Q. A more detailed analysis within the Sharia-compliant subset reveals a negative impact of leverage on all leverage indicators concerning ROA and ROE. In contrast, within the non-Sharia-compliant subset, leverage has a negative and statistically significant influence on ROA and ROE, but a positive and statistically significant effect on Tobin's Q. These empirical findings suggest that leverage has a detrimental and statistically significant association with a firm's accounting performance, as evidenced by ROA and ROE. However, it exerts a positive and statistically significant effect on the firm's market performance, as indicated by Tobin's Q. This underscores the importance of carefully managing leverage, particularly for firms operating within the Indonesian non-financial sector, to strike a balance between accounting and market performance objectives.
Co-Authors Agung Dharmawan Buchdadi Angella Priyatna Atika Siti Hajar Christian Wiradendi Wolor Heryana, Toni Ika Miftahul Janah Maylia Pramono Sari Melda Yanti Mohammad Sofwan Effendi Nadine Prisila Maharani Nazwanda Junika Putri Nofriska Krissanya Purwana E.S., Dedi Putri Galuh Mustiko Perwito Putri Haryani Reza Ahmad Pahlevi Ria Afiany Rochma Sudiati Rosle Mohidin Suherman Titis Fatarina Mahfirah Umi Waheeda Umi Widyastuti Wahyu Wastuti