JURNAL MANAJEMEN MOTIVASI
Vol 21 No 2 (2025): Jurnal Manajemen Motivasi

The Influence of Financial Literacy, Overconfidence, and Locus of Control on Investment Decisions among Micro, Small, and Medium Enterprises (MSMEs)

Aksan, Fadriani (Unknown)
Goso, Goso (Unknown)
Mustafa, Sri Wahyuni (Unknown)

Article Info

Publish Date
30 Sep 2025

Abstract

This study aims to analyze the effect of financial literacy, overconfidence, and locus of control on investment decisions of MSME actors in Palopo City. The research applied a quantitative approach with 120 respondents selected using saturated sampling techniques. Data were collected through questionnaires and analyzed using multiple linear regression, Confirmatory Factor Analysis (CFA), and path analysis with the assistance of SPSS and SmartPLS software. The findings indicate that financial literacy and overconfidence do not have a significant direct influence on investment decisions, while locus of control has a significant effect. Nevertheless, both financial literacy and overconfidence significantly influence investment decisions indirectly through locus of control.

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Journal Info
JURNAL MANAJEMEN MOTIVASI
Website

Abbrev

jm_motivasi

Publisher

Universitas Muhammadiyah Pontianak

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

Jurnal Manajemen Motivasi (JMM) adalah Jurnal Ilmiah Fakultas Ekonomi dan Bisnis Universitas Muhammadiyah Pontianak yang diterbitkan secara berkala 2 (dua) kali dalam satu tahun (Juni dan Oktober) sebagai sarana untuk menyebarluaskan hasil penelitian dan ilmu pengetahuan di bidang ilmu manajemen ...