Pengaruh Financial Literacy, Minimum Investment Capital, dan Expected Return terhadap Pengambilan Keputusan Investasi Saham melalui Minat Berinvestasi sebagai Variabel Intervening
Keywords:
Financial Literacy, Minimum Investment Capital, Expected Return, Investment Interest, Stock Investment DecisionAbstract
The number of young investors in Indonesia continues to increase, particularly among university students. However, this growth does not necessarily reflect the quality of investment decision-making. This study aims to examine the influence of financial literacy, minimum investment capital, and expected return on stock investment decisions, with investment interest as a mediating variable. The population of this study consists of all students of the Accounting Study Program, Faculty of Economics and Business, Universitas Mahasaraswati Denpasar, class of 2022, with a total sample of 357 respondents. Data were collected using a saturated sampling technique, and the data analysis employed a quantitative approach using path analysis. The results reveal that financial literacy and expected return have a positive influence on stock investment decisions. Minimum investment capital also has a direct effect. Furthermore, investment interest mediates the relationship between financial literacy and expected return on investment decisions but does not mediate the effect of minimum investment capital. This study provides a more comprehensive understanding of the factors influencing stock investment decisions among students. The findings can serve as a basis for enhancing financial literacy, planning investment education strategies, and improving the quality of decision-making in investment activities. In addition, the results may be used to design more targeted educational approaches to promote rational and responsible investment behavior.
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