LITERASI KEUANGAN, PERSEPSI RISIKO, DAN KEPUTUSAN INVESTASI CRYPTOCURRENCY: MEDIASI TAKUT KEHILANGAN

Nanda Ammaa Tsuroyya Rahmah, Heri Syaputra Jayadi, Mursidi Mursidi, Fika Fitriasari, Chalimatuz Sa'diyah, Tran Thai Ha Nguyen

Abstract


Penelitian ini mengkaji keterkaitan literasi keuangan dan persepsi risiko dengan keputusan investasi cryptocurrency pada Generasi Z di Indonesia, dengan menempatkan fear of missing out (FOMO) sebagai variabel perantara. Studi ini menerapkan pendekatan kuantitatif dengan desain eksplanatori. Data diperoleh dengan menggunakan kuisoner daring yang diisi oleh 266 investor cryptocurrency berusia 18–30 tahun yang mempunyai pengalaman dalam berinvestasi sekurang-kurangnya selama satu tahun. Pengujian hubungan antarvariabel dilakukan menggunakan metode partial least squares structural equation modeling (PLS-SEM) melalui SmartPLS 4. Analisis yang dilakukan memperlihatkan bahwa literasi keuangan berpengaruh positif dan signifikan terhadap keputusan investasi (β = 0,320; p = 0,002) serta FOMO (β = 0,312; p < 0,001). Persepsi risiko menunjukkan pengaruh negatif terhadap FOMO (β = −0,208; p = 0,002), tetapi berpengaruh positif terhadap keputusan investasi (β = 0,157; p = 0,032). Sementara itu, FOMO berpengaruh negatif terhadap keputusan investasi (β = −0,173; p = 0,003). Pengujian mediasi menemukan bahwa FOMO memediasi secara parsial hubungan literasi keuangan dengan keputusan investasi melalui pengaruh efek tidak langsung(β = −0,054; p = 0,014). FOMO juga memediasi yang ditinjau dari setiap variable yaitu hubungan persepsi risiko dengan keputusan investasi, dengan pengaruh tidak langsung positif (β = 0,036; p = 0,044. Hasil penelitian ini mengindikasikan bahwa keputusan investasi cryptocurrency di kalangan investor muda tidak semata-mata berkaitan dengan aspek pengetahuan keuangan dan penilaian risiko, tetapi juga melibatkan faktor psikologis. Oleh karena itu, peran FOMO perlu dipertimbangkan untuk memperoleh wawasam yang lebih luas tentang  proses pengambilan keputusan investasi cryptocurrency pada Generasi Z di Indonesia.


Keywords


literasi keuangan; persepsi risiko; fear of missing out; keputusan investasi; cryptocurrency; Generasi Z

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References


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DOI: https://doi.org/10.31764/jabb.v7i2.43851

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