UNTARUNTAR

International Journal of Application on Economics and BusinessInternational Journal of Application on Economics and Business

This study investigates the influence of self-control, financial literacy, and risk tolerance on the investment decisions of university students in Jakarta, Indonesia. The research uses a quantitative methodology to collect primary data through a Google Forms-based questionnaire. The sample comprises 120 students with prior experience in financial investments, such as stocks or mutual funds. Data analysis was conducted using Partial Least Squares - Structural Equation Modeling (PLS-SEM) to evaluate the relationships among the variables. The findings reveal that self-control, financial literacy, and risk tolerance all significantly and positively affect investment decisions. Specifically, self-control fosters disciplined, long-term financial planning, while financial literacy enhances students ability to assess investment opportunities and make informed choices. Moreover, risk tolerance emerges as a critical factor, with students exhibiting higher risk tolerance being more inclined to engage in investments. The study underscores the role of psychological factors and financial education in shaping students financial behaviors. It recommends that universities and financial institutions emphasize the development of self-control and financial literacy through targeted educational programs and customized financial products. Additionally, the study calls for future research in diverse geographical and sectoral contexts to enhance the generalizability of the findings.

The study concludes that self-control, financial literacy, and risk tolerance significantly and positively influence investment decisions among students in Jakarta.These findings highlight the importance of psychological factors and financial education in shaping students financial behaviors.Therefore, fostering self-control and enhancing financial literacy are crucial for promoting sound investment choices among students.

Future research should explore the influence of these factors in different national contexts to improve the generalizability of the findings. Additionally, investigating the impact of behavioral biases, such as herd behavior or overconfidence, on investment decisions among students could provide valuable insights. Finally, a longitudinal study tracking students investment behaviors over time, coupled with interventions designed to enhance self-control and financial literacy, would offer a more comprehensive understanding of the long-term effects of these factors on financial well-being. These studies should consider the role of digital financial tools and platforms in shaping investment decisions, and how these tools can be leveraged to promote responsible investing among young adults. Further research could also examine the effectiveness of different financial education approaches, such as gamification or peer-to-peer learning, in improving financial literacy and self-control among students. Ultimately, a deeper understanding of these dynamics will empower students to make informed financial choices and achieve their long-term financial goals.

  1. FINANCIAL KNOWLEDGE, FINANCIAL ATTITUDE, AND FINANCIAL MANAGEMENT BEHAVIOR: SELF–CONTROL... ijabs.ub.ac.id/index.php/ijabs/article/view/492FINANCIAL KNOWLEDGE FINANCIAL ATTITUDE AND FINANCIAL MANAGEMENT BEHAVIOR SELFyCAuCONTROL ijabs ub ac index php ijabs article view 492
  2. Pengaruh Literasi Keuangan, Self Control Dan Risk Tolerance Terhadap Keputusan Investasi Melalui Perilaku... openjournal.unpam.ac.id/index.php/JIPER/article/view/17616Pengaruh Literasi Keuangan Self Control Dan Risk Tolerance Terhadap Keputusan Investasi Melalui Perilaku openjournal unpam ac index php JIPER article view 17616
  3. Using rational choice theory to understand corruption in Indonesia | Integritas: Jurnal Antikorupsi.... doi.org/10.32697/integritas.v9i2.949Using rational choice theory to understand corruption in Indonesia Integritas Jurnal Antikorupsi doi 10 32697 integritas v9i2 949
  4. Pengaruh Literasi Keuangan, Pendapatan, dan Perilaku Keuangan terhadap Keputusan Investasi Generasi Milenial... ejournal.undiksha.ac.id/index.php/JJAKUN/article/view/58169Pengaruh Literasi Keuangan Pendapatan dan Perilaku Keuangan terhadap Keputusan Investasi Generasi Milenial ejournal undiksha ac index php JJAKUN article view 58169
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