Aprillina Sanjaya, Ifarza Tsabita, Shelly Sabella A.F., Khumaira Salsabilla F.L., Dionisius Mandur

PENGARUH PERILAKU FEAR OF MISSING OUT (FOMO) DAN LITERASI KEUANGAN TERHADAP KEPUASAN INVESTASI MAHASISWA PROGRAM STUDI ADMINISTRASI BISNIS DI STIA

Introduction

Pengaruh perilaku fear of missing out (fomo) dan literasi keuangan terhadap kepuasan investasi mahasiswa program studi administrasi bisnis di stia. Pelajari pengaruh FOMO dan literasi keuangan terhadap keputusan investasi mahasiswa Administrasi Bisnis STIA. Pahami bagaimana Gen Z membuat keputusan investasi digital mereka.

Abstract

The advancement of technology and the widespread use of social media have contributed to the rising participation of young people, particularly Generation Z, in digital investment activities. However, this trend also presents challenges such as impulsive investment decisions driven by social influence and limited financial understanding. This study aims to examine the influence of Fear of Missing Out (FOMO) behavior and financial literacy on the investment decisions of students in the Business Administration Study Program at STIA Malang. A quantitative approach was used, employing survey techniques with structured questionnaires distributed to 59 respondents. Data analysis included validity and reliability tests, classical assumption testing, and multiple linear regression analysis. The results indicate that both FOMO and financial literacy significantly influence investment decisions, both partially and simultaneously. The R square value of 0.440 suggests that these two independent variables explain 44% of the variation in students’ investment decisions. These findings emphasize the importance of financial education and awareness of social influence in shaping prudent investment behavior.   Kata Kunci: FOMO; generation Z; investment decision; financial literacy  

Review

This study addresses a highly relevant and timely topic concerning the investment behavior of young people, specifically Generation Z students, in the digital age. The increasing participation of this demographic in digital investments, coupled with potential pitfalls like impulsive decisions driven by social influence and limited financial knowledge, makes this research crucial. The paper effectively sets out to examine the influence of Fear of Missing Out (FOMO) behavior and financial literacy on investment decisions, focusing on Business Administration students at STIA Malang. This focus on a specific academic program provides a pertinent context for understanding how these factors interplay within a group presumably exposed to business-related concepts. The research employed a quantitative approach, utilizing survey techniques with structured questionnaires distributed to 59 respondents. The methodology included standard data analysis procedures such as validity and reliability tests, classical assumption testing, and multiple linear regression analysis. A key finding is that both FOMO and financial literacy significantly influence investment decisions, both individually and concurrently. The reported R-square value of 0.440 suggests that these two independent variables explain a substantial 44% of the variation in students’ investment decisions, indicating their considerable explanatory power in this context. These results underscore the complex psychological and educational factors at play in contemporary investment choices. While the study offers valuable insights into the dynamics of FOMO and financial literacy on investment decisions among students, certain aspects warrant further consideration. The sample size of 59 respondents, while suitable for initial exploration, might limit the generalizability of the findings to a broader population of Generation Z investors or other academic programs. Additionally, the reliance on self-reported data through questionnaires could introduce social desirability bias. Nevertheless, the study's conclusion, emphasizing the importance of financial education and awareness of social influence, is a critical takeaway. Future research could benefit from a larger and more diverse sample, potentially incorporating qualitative methods for deeper insights into the underlying motivations and decision-making processes, thereby further strengthening the implications for educational interventions and policy development.

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