Pengaruh Fomo, Literasi Keuangan, dan Herding Behavior terhadap Keputusan Investasi Saham Generasi Z di Era Digital dengan Financial Self-Efficacy sebagai Variabel Moderasi (DKI Jakarta)
DOI:
https://doi.org/10.38035/jmpis.v7i2.7781Keywords:
FOMO, Literasi Keuangan, Herding Behavior, Financial Self-Efficacy, Generasi Z, Keputusan InvestasiAbstract
Penelitian ini menganalisis pengaruh fear of missing out (fomo), literasi keuangan, dan herding behavior terhadap keputusan investasi saham generasi Z di DKI Jakarta, dengan financial self-efficacy sebagai variabel moderasi. Penelitian dilakukan terhadap 200 responden Generasi Z yang aktif berinvestasi di pasar modal. Hasil regresi menunjukkan bahwa ketiga variabel independen berpengaruh positif dan signifikan, dengan herding behavior sebagai faktor dominan. Moderated Regression Analysis (MRA) financial self-efficacy memperkuat pengaruh FOMO dan literasi keuangan, namun melemahkan pengaruh herding behavior. Secara simultan, model penelitian terbukti fit dengan peningkatan nilai determinasi (R Square) dari 69,2% menjadi 74,2% setelah variabel moderasi ditambahkan. Temuan ini menegaskan bahwa partisipasi investasi sehat di kalangan Generasi Z tidak hanya membutuhkan literasi keuangan, tetapi juga kepercayaan diri finansial agar mereka mampu mengambil keputusan secara mandiri dan rasional.
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