Result: Moderation of Gender, Age, Education, and Income on the Influence of Religiosity of Student Investors in West Java Indonesia with Stock Investment Decisions Mediated by Financial Literacy.
Further Information
Investors have a psychological side that can influence investment decision-making, thus causing bias in decisionmaking even though they have a solid fundamental basis in financial literacy and sociodemographic references are interesting when presented as moderation, religion is a solution in restoring investor rationality so that it is maintained awareness in investing because religion has a strong influence on investment decisions. This study aims to determine the effect of religiosity on investment decisions on student stocks in West Java. Respondents in this study were Student Investors of West Java, totaling 974 people. Data analysis used mediation moderation regression analysis using SPSS Conditional Hayes process model 15. The results showed that religiosity influences stock investment decisions in West Java. Gender, age, education, and income also affect investment decisions, and religiosity does not affect financial literacy. Financial literacy does not affect investment decisions. Financial literacy is not able to act as a mediator of the relationship between religiosity on stock investment decisions. Education has an effect when it is used to moderate the relationship between financial literacy and investment decisions. In contrast to the relationship between religiosity and investment decisions, gender, age, education, and income affect the relationship. [ABSTRACT FROM AUTHOR]