The Analysis of Investment Interests of Millennial Generation in Batam City with Planned Behavior Theory
English
Keywords:
Theory Planned Behaviour (TPB), Attitudes, Subjective Norms, Financial self efficacy, Financial Knowledge, Investor Personality traits, Investment intention
Abstract
The purpose was to study the factors of attitudes, subjective norms, financial self-efficacy, financial knowledge, and personality traits of young investors towards investment intentions (The Planned Behaviour Theory). The research method used is causal comparative research with the sudents pupolation in Batam City within the age range of 20-34 years. There is moderating and two mediations variable used to analyse whether the variable is related to investment intentions. The results showed that the variable financial knowledge mediated by attitude affects directly towards investment intentions. The variable personality traits of investors mediated by financial independence have indirect effect on investment intentions. In addition, risk taking indicators on investor personality traits moderate affect the overall financial self-efficacy on investment intentions in millennials. Positive significance also occurs in investor personality variables on financial knowledge whereas the variable Theory of Planned Behaviour (TPB) on investment intentions has a significant effect only on the variable such as attitude and subjective norms. The financial self-efficacy variable on investment intentions is not significant to the millennial.
References
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Akhtar, F. N. Das. (2017). Predictors of investment intention in Indian stock markets: Extending the theory of. International Journal of Bank Marketing.
Al-Tamimi, H. A. H. & A. A. B. K. (2009). Financial literacy and investment decisions of UAE investors. The Journal of Risk Finance, 10(5), 500–516. https://doi.org/10.1108/15265940911001402
Ali, A. (2011). Predicting Individual Investors’ Intention to Invest: An Experimental Analysis of Attitude as a Mediator. International Scholarly and Scientific Research & Innovation, 05(2), 157–164. Retrieved from https://pdfs.semanticscholar.org/135b/aec8551ab737ec5f59c413a411dab3866237.pdf
Alleyne, Philmore and Broome, T. (2011). The Theory of Planned Behaviour and Risk Propensity to Measure Investment Intention among Future Investor. Journal of Eastern Caribbean Studies, 36(1), 1–20.
Almenberg, J. dan A. D. (2015). Gender, Stock Market Participation and Financial Literacy. Economics Letters. https://doi.org/http://dx.doi.org/10.1016/j.econlet.2015.10.009
Angga Yuniar. (2019, December 30). Hingga Akhir 2019, Pasar Modal Bukukan 2,4 Juta Investor. Liputan6.Com. Retrieved from https://www.liputan6.com/bisnis/read/4144853/hingga-akhir-2019-pasar-modal-bukukan-24-juta-investor
Citra Sondari, M. dan R. S. (2015). Using Theory of Planned Behavior in Predicting Intention to Invest: Case of Indonesia. International Academic Research Journal of Business and Technology, 1(2), 137–141.
Chin, W. W., & Dibbern, J. (2010). An Introduction to a Permutation Based Procedure for Multi-Group PLS Analysis: Results of Tests of Differences on Simulated Data and a Cross Cultural Analysis of the Sourcing of Information System Services Between Germany and the USA. In V. E. Vinzi, W. W. Chin, J. Henseler, & H. Wang (Eds.), Handbook of Partial Least Squares Concepts, Methods and Applications (pp. 171-194). Berlin: Springer.
Durand et al. (2013). Overconfidence, overreaction and personality. Behavioral Finance Journal, 5(2), 104–133. https://doi.org/https://doi.org/10.1108/
Ezama, et al. (2014). Can We Predict Individual Investors’ Behavior In Stock Markets? A Psychological Approach. Panamerican Journal Psycology, 13(1), 25–33. https://doi.org/10.11144/Javeriana.UPSY13-1.cwpi Para
Garnesia, I. (2018, November 12). Sana-sini Ngaku Milenial, Bagaimana Peta Milenial Indonesia? Tirtoid. Retrieved from https://tirto.id/sana-sini-ngaku-milenial-bagaimana-peta-milenial-indonesia-cX5W
Gay, L. R., Mills, G. E., & Airasian, P. W. (2010). Educational research : competencies for analysis and applications (9th ed.). Upper Saddle River, N.J.: Merrill/Pearson.
Ghozali, Imam., & Hengky Latan. 2012. Partial Least Squares : Konsep, Teknik dan Aplikasi Menggunakan Program SmartPLS3.0 edisi kedua. Universitas Diponegoro, Semarang.
Hair, J. et al. (2014). Multivariate Data Analysis. Pearson New International Edition, 7.
Hasibuan, S. R. (2018). Minat Investasi Mahasiswa untuk Berinvestasi di Pasar Modal Syariah.
Ibrahim, Y. and imran arshad. (2017). Examining the Impact of Product Involvement, Subjective Norm and Perceived Behavioral Control on Investment Intentions of Individual Investors in Pakistan. Investment Management and Financial Innovations, 14(4), 181–193. https://doi.org/10.21511/imfi.14(4).2017.15
Kautonen, Teemu, M. van G. & E. T. T. (2013). Predicting Entrepreneurial Behaviour: A Test of The Theory of Planned Behaviour. Applied Economics, 45, 697–707. https://doi.org/https://doi.org/10.1080/00036846.2011.610750
Koropp, et al. (2014). Financial Decision Making in Family Firms: An Adaptation of the Theory of Planned Behavior. Family Business Review, 2, 1–21. https://doi.org/10.1177/0894486514522483
Kustodian Sentral Efek Indonesia (KSEI), 2019. Laporan Tahunan 2019, s.l.: s.n.
Lusardi, A. dan O. S. M. (2014). The Economic Importance of Financial Literacy: Theory and Evidence. The Economic Importance of Financial Literacy: Theory and Evidence Journal, 1–60.
Mahastanti, L. A. dan E. H. (2014). Determining the Factors Which Affect the Stock Investment Decisions of Potential Female Investors in Indonesia. International Journal Process Management and Benchmarking, 4(2), 186–197. https://doi.org/doi:10.1504/ijpmb.2014.060407
Montford, W. dan R. E. G. (2015). How Gender and Financial Self-Efficacy Influence Investment Risk Taking. International Journal of Consumer Studies. https://doi.org/10.1111/ijcs.12219
Nandan, T. dan K. S. (2016). Big-Five Personality Traits, Financial Risk Attitude and Investment Intentions: Study on Generation Y. Int. J. Business Forecasting and Marketing Intelligence, 2(2), 128–150. Retrieved from https://sci-hub.tw/10.1504/IJBFMI.2016.078154
Nga, J. K. H. dan L. K. Y. (2014). The influence of personality trait and demographics on financial decision making among Generation Y. Young Consumer Journal, 14(3), 230–243. https://doi.org/10.1108/YC-11-2012-00325
Njuguna, Peter Kamau, G. S. N. & C. K. (2017). Determinant of Investment Intention: An Induvidual Retail Investor’s Perspective From Nairobi Securities Exchange. International Journal of Arts and Commerce, 6, 120–132. Retrieved from https://www.ijac.org.uk/images/frontImages/gallery/Vol._5_No._6/11._120-132.PDF
Pajar, R. C. dan A. P. (2017). Influence of Investment Motivation and Investment Knowledge on Investment Interest in Capital Market in Students FE UNY. Jurnal Ekonomi Dan Bisnis Islam, 1.
Phan, Khoa Cuong dan Zhou, J. (2014). Factors Influencing Individual Investor Behavior: An Empirical Study of the Vietnamese Stock Market. American Journal of Business, 3(2), 77–94. https://doi.org/10.11634/216796061403527
Pittaway, Eieleen, L. B. & R. H. (2010). Stop Stealing Our Stories’: The Ethics of Research with Vulnerable Groups. Journal Of Human, 2(2), 229–251. https://doi.org/https://doi.org/10.1093/jhuman/huq004
Reyhanloo, et al. (2018). Private-sector investor’s intention and motivation to invest in Land Degradation Neutrality. Investing in Land Degradation Neutrality, 13(12), 1–18. https://doi.org/. https://doi.org/10.1371/journal. pone.0208813
Sugiyono. 2013. Metode Penelitian Bisnis. Bandung: Alfabet
Timothy, Y.C.K. (2010). Effects of Corporate Governance on Tax Aggressiveness. An Honours Degree Project Submitted to the School of Business in Partial Fulfilment of the Graduation Requirement for the Degree of Bachelor of Business Administration (Honours). Hong kong Baptist University. Hongkong.
Universitas Internasional Batam. (2017). Modul Laboratorium Statiska Program Studi Manajemen Aplikasi Software Spss dan SmartPLS. Journal of Laboratorium Statistic.
Wang, Y.-H. (2015). Does Investment Experience Influence Fund Investors’ Perceived Value and Purchase Intention? Global Journal of Business Research, 9(5), 87–93.
Young, et al. (2012). Simulation of risk-taking and it relationship with personality Susan. Personality and Individual Difference, 53(3), 249–299.
Zoraya, R. (2019, July 17). Milenial Pintar Kelola Uang, tapi Tak Paham Investasi. Beritatagar.Id. Retrieved from https://beritagar.id/artikel/berita/milenial-pintar-kelola-uang-tapi-tak-paham-investasi.
Zulkarnaen, W., & Herlina, R. 2018. Pengaruh Kompensasi Langsung dan Kompensasi Tidak Langsung terhadap Kinerja Karyawan Bagian Staff Operasional PT Pranata Jaya Abadi Banjaran. Jurnal Manajemen, Ekonomi dan Akuntansi, 2(2), 90-114. DOI: https://doi.org/10.31955/jimea.vol2.iss2.pp90-114.
Published
2020-12-02
How to Cite
Cuandra, F. (2020). The Analysis of Investment Interests of Millennial Generation in Batam City with Planned Behavior Theory. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 4(3), 1784-1809. https://doi.org/10.31955/mea.v4i3.671
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Articles
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