Pengaruh Financial Literacy terhadap Investment Decision dengan Experience Regret sebagai Variabel Mediasi pada Investor Generasi Milenial

Made Ayu Desy Geriadi; Bagus Arya Wijaya; Ni Putu Yuliana Ria Sawitri

doi:10.30640/ekonomika45.v13i2.6130

Authors

Made Ayu Desy Geriadi Universitas Ngurah Rai
Bagus Arya Wijaya Universitas Ngurah Rai
Ni Putu Yuliana Ria Sawitri Universitas Ngurah Rai

DOI:

https://doi.org/10.30640/ekonomika45.v13i2.6130

Keywords:

Experience Regret, Financial Literacy, Investment Decision, Investor Milenial, SmartPLS Analytics

Abstract

This study aims to examine how financial literacy influences investment decisions, with experience regret serving as a mediating variable among millennial investors. The increasing involvement of this generation in investment activities is driven not only by rational aspects such as financial knowledge but also by psychological factors, particularly regret arising from prior investment experiences. This research employs a quantitative approach using primary data collected through questionnaires distributed to 100 respondents who are millennial investors. The sample was selected using a purposive sampling technique, in which respondents were chosen based on specific criteria relevant to the research objectives and having prior investment experience. Data analysis was conducted using structural model analysis with a Partial Least Squares (PLS) approach, processed באמצעות the SmartPLS software. The results indicate that financial literacy has a positive and statistically significant effect on investment decisions and a negative effect on experience regret. Furthermore, experience regret is found to have a negative effect on investment decisions and acts as a mediating variable between financial literacy and investment decisions. These findings suggest that millennial investment behavior is shaped by a combination of cognitive and emotional factors.

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