The Effect of Financial Behavior on Investment Decision in the Millennial Generation Group Rosyidah Rahmah (a*), Disman (b)
Universitas Pendidikan Indonesia
Abstract
The development of the Islamic finance industry in Indonesia is currently experiencing growth, as can be seen from the increase in market institutions and various types of Islamic capital market instruments in Indonesia as well as an increase in the number of investors in the Islamic finance industry in 2020. The decision to invest in the Islamic finance industry itself is driven by many factors, such as generational characteristics and financial behavior. This study aims to determine the effect of financial behavior on Islamic mutual fund investment decisions in the millennial generation group. This research uses quantitative methods with descriptive and verification approaches. The sample selection in this study used non-probability with a total sampling technique of 30 people.
Based on the results of descriptive analysis, it is known that the majority of respondents in the study are male (63.3%). Based on the results of the regression equation analysis data, it is known that financial behavior has a value of 0.603 which is more than the P value <0.05 so that it can be stated that financial behavior has a significant effect on investment decisions. The results of the financial behavior determination test on investment decisions are 0.466 or 46.6% while the remaining 53.4% are influenced by other variables outside the study. The equation of regression analysis on the influence of financial behavior on investment decisions after being moderated by the generation group is 0.048, which is greater than the p value of 0.031 <0.05 so that it can be stated that the interaction of financial behavior with the generation group affects investment decisions.
