Pengaruh Literasi Keuangan dan Financial Technology terhadap Keputusan Investasi Mahasiswa dengan Pendapatan sebagai Variabel Moderasi.

Abstract

The rapid advancement of digital technology has transformed the financial services industry, providing students with easier access to various investment instruments through financial technology (fintech) platforms. However, the availability of digital investment services does not necessarily guarantee sound investment decisions, as these decisions are also influenced by the level of financial literacy possessed by individuals. In addition, differences in students' income levels may strengthen or weaken the relationship between financial literacy, financial technology, and investment decisions. This study aims to examine the influence of financial literacy and financial technology on students' investment decisions and to analyze the moderating role of income in these relationships. This research employs a quantitative approach using a survey method. Data were collected through questionnaires distributed to university students who have knowledge of or experience with digital investment products. The sampling technique employed was purposive sampling, while the data were analyzed using Moderated Regression Analysis (MRA) or Structural Equation Modeling–Partial Least Squares (SEM-PLS), depending on the characteristics of the collected data. The findings indicate that both financial literacy and financial technology have a positive and significant effect on students' investment decisions. Furthermore, income significantly moderates these relationships, indicating that students with higher income levels are more capable of utilizing financial knowledge and fintech services to make rational and informed investment decisions. The study highlights the importance of enhancing financial literacy, expanding access to fintech services, and improving students' financial capacity to promote sound investment decision-making.