Financial Literacy, Herding Behavior, Minat Investasi, dan Perilaku Konsumtif Pada Investor Mahasiswa di Provinsi Sulawesi Utara

Abstract

Literasi keuangan merupakan sebuah hal yang penting bagi setiap manusia karena mengajarkan pengalokasian dana yang tepat melalui investasi, saving, dan konsumsi atas kebutuhan dasar. Fenomena di provinsi Sulawesi Utara (Sulut) menunjukkan peningkatan jumlah investor saham yang didominasi oleh investor pemula (mahasiswa). Dalam keputusan berinvestasi, investor mahasiswa sering bertindak secara irasional (herding behavior). Fenomena lainnya menunjukkan investor mahasiswa cenderung melakukan perilaku konsumtif yang bertolak belakang dengan minat investasi. Populasi dalam penelitian ini adalah investor mahasiswa yang tersebar pada Galeri Investasi Bursa Efek Indonesia (BEI) dalam universitas-universitas di provinsi Sulut sebanyak 3468 investor. Teknik pengambilan sampel menggunakan accidental sampling (non probability sampling) sebanyak 250 sampel investor. Teknik analisis yang digunakan adalah Covariance Based Structural Equation Modeling (CBSEM). Hasil penelitian menunjukkan herding behavior berpengaruh positif signifikan terhadap minat investasi dan minat investasi berpengaruh positif signifikan terhadap perilaku konsumtif.

Financial literacy is an important thing for every human being because it teaches the proper allocation through investing, saving, and consumption over basic needs. Phenomenon in North Celebes province showed an increase in the number of stock investors dominated by young investors (student). In making investment decision, they often act in irrational way (herding behavior). Other phenomena demonstrated student investors tend to have a consumptive behaviour which is contradictive with investment interests. Population of this research are student investors at Indonesia stock Exchange Investment Gallery in the North Celebes province as much as 3468 investor. The sampling technique used is accidental sampling (non probability sampling) for 250 samples of investor. The analytical technique used is Covariance Based Structural Equation Modeling (CB-SEM). The results showed that herding behavior has a significant positive effect to investment interest and investment interest has a significant positive effect to consumptive behavior.