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THE INFLUENCE OF EDUCATION AND EXPERIENCE TOWARD INVESTMENT DECISION WITH MODERATED BY FINANCIAL LITERACY

Khaira Rizfia Fachrudin · Khaira Amalia Fachrudin

60 citations0/0 files storedPolish Journal of Management Studies

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Financial Literacy and Behavior Financial Analysis and Corporate Governance Financial Literacy, Pension, Retirement Analysis

Abstract

Stock right investment decision is expected to provide the expected profit. This research aims to determine the influence of education and experience toward investment decision with moderated financial literacy by individual investors in the city of Medan. This study used primary data by questionnaire and the sample consisted of 250 respondents who are investor active in the city of Medan – Indonesia. Data analysis using descriptive statistical analysis and Structural Equation Modelling. The results showed that investors with the highest level of education is undergraduate 46.80%. The experience of investors invest in stocks that have been investing in shares over 3 years is the largest number as many as 36.00%. Education and investment experience have no significant relationships directly at alpha 5% toward the investment decision. Financial literacy is found to strengthen the links between education and experience toward investment decisions. The implication is that financial literacy is indispensable for the right investment decision.

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References

2007Financial Literacy and Stock Market Participation 1999Do Investors Trade Too Much?2002The effects of financial education in the workplace: evidence from a survey of households 2009Financial literacy and investment decisions of UAE investors 2008Consumer Financial Literacy and the Impact of Online Banking on the Financial Behavior of Lower‐Income Bank Customers 1977Patterns of Investment Strategy and Behavior Among Individual Investors 2007Financial Literacy and Retirement Preparedness: Evidence and Implications for Financial Education Programs 2010Investor Sophistication and the Home Bias, Diversification, and Employer Stock Puzzles

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