SELF-EFFICACY, LITERASI KEUANGAN, SOSIAL DAN INVESTASI SAHAM ESG
DOI:
https://doi.org/10.54314/jssr.v8i2.3093Abstract
Abstract: Environmental, Social, and Governance (ESG)-based stock investment is gaining popularity due to its relevance to sustainability. This research aims to analyze the influence of self-efficacy, financial literacy, and social influence on ESG stock investment decisions among English Literature students at Dian Nusantara University. A quantitative approach was employed in this study, involving 171 respondents selected through purposive sampling. Data were collected using a structured questionnaire and analyzed with multiple linear regression. The research results indicate that all three variables, namely self-efficacy, financial literacy, and social influence, have a positive and significant influence on ESG stock investment decisions. Financial literacy is the most dominant factor in influencing investment decisions. These findings emphasize the importance of developing students' financial competence and self-confidence in supporting wiser and more responsible investment decision-making towards sustainability. In conclusion, this research contributes to understanding the factors influencing young generation's investment preferences towards ESG stocks. These results are important for the development of financial education programs and the promotion of sustainable investment among students.
Â
Keywords: Self-Efficacy Financial Literacy Social Influence ESG Stock Investment Student Investment Decisions
Â
Abstrak: Investasi saham berbasis Environmental, Social, and Governance (ESG) semakin diminati karena relevansinya dengan keberlanjutan. Penelitian ini bertujuan untuk menganalisis pengaruh self-efficacy, literasi keuangan, dan pengaruh sosial terhadap keputusan investasi saham ESG di kalangan mahasiswa Sastra Inggris Universitas Dian Nusantara. Pendekatan kuantitatif digunakan dalam penelitian ini, melibatkan 171 responden yang dipilih melalui purposive sampling. Data dikumpulkan menggunakan kuesioner terstruktur dan dianalisis dengan regresi linear berganda. Hasil penelitian menunjukkan bahwa ketiga variabel, yaitu self-efficacy, literasi keuangan, dan pengaruh sosial, memiliki pengaruh positif dan signifikan terhadap keputusan investasi saham ESG. Literasi keuangan menjadi faktor paling dominan dalam memengaruhi keputusan investasi. Temuan ini menekankan pentingnya pengembangan kompetensi keuangan dan kepercayaan diri mahasiswa dalam mendukung pengambilan keputusan investasi yang lebih bijaksana dan bertanggung jawab terhadap keberlanjutan. Kesimpulannya, penelitian ini memberikan kontribusi dalam memahami faktor-faktor yang memengaruhi preferensi investasi generasi muda terhadap saham ESG. Hasil ini penting untuk pengembangan program edukasi keuangan dan promosi investasi berkelanjutan di kalangan mahasiswa.
Â
Kata Kunci: Self-Efficacy; Financial Literacy; Social Influence; Investasi Saham ESG; Keputusan Investasi Mahasiswa
Downloads
References
Ali, S., Anwar, M., & Jadoon, A. (2020). Impact of financial literacy on investment decision-making of university students. Journal of Economics and Business, 3(1), 54–
Bagozzi, R., & Dholakia, U. (2016). Intentional social action in virtual communities. Journal of Interactive Marketing, 20(2), 34–45.
Bandura. (1997). Self-efficacy (the exercise of control.). W.H. Freeman and Company.
Fernández, F., & Garcés, A. (2020). The role of financial literacy in the adoption of sustainable investment practices. Journal of Sustainable Finance & Investment, 10(2), 169–181.
Grable, J., & Joo, S. (2016). Environmental influences on the financial behaviors of young adults: A multilevel analysis. Journal of Financial Counseling and Planning, 27(2), 254–268.
Khan, T., Atif, M., & Ali, A. (2021). Social influence and investment decisions: A study on the impact of peer pressure in investment decisions. International Journal of Finance & Banking Studies, 10(1), 47–58.
Lusardi, A., & Mitchell, O. (2014). The economic importance of financial literacy: Theory and evidence. Journal of Economic Literature, 52(1), 5–15.
Moser, C., & Martin, A. (2021). The role of financial literacy in sustainable investing: Evidence from a survey of individual investors. Journal of Financial Planning, 29(8), 48–58.
Sadeghi, A., Ebrahimi, N., & Khan, M. (2021). The effect of social influence on individual investment decision-making. Journal of Behavioral Finance, 22(2), 119–135.
Smith, R., & Hsieh, C. (2021). The role of self-efficacy in the financial decision-making process: A study of college students. Journal of Economic Psychology, 2(3), 10–23.
Wang, Y., Miao, M., & Jiang, Z. (2020). Understanding the impact of ESG factors on investment decisions: A study of Chinese university students. Journal of Cleaner Production, 3(5), 267–277.
Zhang, D., Wu, Y., & Chen, X. (2021). The impact of self-efficacy on investment decisions in sustainable finance. Journal of Sustainable Finance & Investment, 10(3), 225–240.
