Exploring Investment Awareness: A Student Perspective in South Kalimantan

Rizky Nastiti(1*), Masithah Akbar(2), Norbaiti Norbaiti(3), Raden Rara Siti Munawarah(4)

(1) STIE Indonesia Banjarmasin
(2) STIE Indonesia Banjarmasin
(3) STIE Indonesia Banjarmasin
(4) STIE Indonesia Banjarmasin
(*) Corresponding Author


Today's younger generation, especially students, are more aware of technological advances than the older generation. Even so, it is still a question whether they have an awareness of the importance of investment. Therefore, this study aims to analyze the investment awareness of the younger generation, in this case students. This study used a questionnaire as the main data collection instrument by taking a sample of 113 students majoring in economics in South Kalimantan. The results of the study reveal that financial literacy, personal interest and saving behavior have a positive and significant effect on the investment awareness of students. These results indicate that student investment awareness arises from their own awareness where they have the initiative to seek more detailed information about investment and the habit of making financial planning. Furthermore, studying the level of investment awareness can provide important insights for policy makers, and educational institutions on how to increase support for young investors in making sound investment decisions.


investment awareness; financial literacy; personal interest; saving behavior

Full Text:



Agarwalla, S. K., Barua, S., Jacob, J., & Varma, J. R. (2012). A Survey of Financial Literacy among Students , Young Employees and the Retired in India. Indian Institute of Management Ahmedabad, June, 1–9. http://www.iimahd.ernet.in/fls/fls12/Executive_Summary.pdf

Ali, M. A. S., Ammer, M. A., & Elshaer, I. A. (2022). Determinants of Investment Awareness: A Moderating Structural Equation Modeling-Based Model in the Saudi Arabian Context. Mathematics, 10(20). https://doi.org/10.3390/math10203829

Alshebami, A. S., & Al Marri, S. H. (2022). The Impact of Financial Literacy on Entrepreneurial Intention: The Mediating Role of Saving Behavior. Frontiers in Psychology, 13(June). https://doi.org/10.3389/fpsyg.2022.911605

Alshebami, A. S., & Seraj, A. H. A. (2021). The Antecedents of Saving Behavior and Entrepreneurial Intention of Saudi Arabia University Students. Educational Sciences: Theory and Practice, 21(2), 67–84. https://doi.org/10.12738/jestp.2021.2.005

Ammer, M. A., & Aldhyani, T. H. H. (2022). An Investigation into the Determinants of Investment Awareness: Evidence from the Young Saudi Generation. Sustainability (Switzerland), 14(20), 1–25. https://doi.org/10.3390/su142013454

Ariffin, M. R., Sulong, Z., & Abdullah, A. (2017). Students’ Perception Towards Financial Literacy and Saving Behavior. World Applied Sciences Journal, 35(10), 2194–2201. https://doi.org/10.5829/idosi.wasj.2017.2194.2201

Azhar, Z., Azilah, N., & Syafiq, A. (2017). Investment Awareness Among Young Generation. 36(Icbmr), 126–135. https://doi.org/10.2991/icbmr-17.2017.12

Bachtiar, Y., Koroy, T. R., Akbar, M., Nastiti, R., Normalina, Syahdan, S. A., Norbaiti, Munawaroh, R. . S., & Firdaus, I. (2022). Edukasi Financial Capability: Mempersiapkan Generasi Muda Mencapai Financial Well-Being. Abdimas Universal, 4(2), 186–190. http://abdimasuniversal.uniba-bpn.ac.id/index.php/abdimasuniversal/article/view/217%0Ahttps://abdimasuniversal.uniba-bpn.ac.id/index.php/abdimasuniversal/article/download/217/106

Heniawan, D. A., & Dewi, A. S. (2021). Factors Affecting Investment Awareness: Case Study on Productive Age in Surabaya City. Journal of Research in Business, 3(2), 147–152. http://myjms.mohe.gov.my/index.php/ajrbm/article/view/14553

Kharisma, A. S., & Sholeha, A. (2022). Millennial Generation Investment Interest through Financial Technology in the Post-Covid-19 Pandemic Period. Enrichment: Journal of Management, 12(4), 2941–2947.

Mendari, A. S., & Kewal, S. S. (2013). Tingkat Literasi Keuangan di Kalangan Mahasiswa STIE Musi. Jurnal Economia, 9(2).

Mitchell, O. S., & Lusardi, A. (2015). Financial Literacy and Economic Outcomes: Evidence and Policy Implications . The Journal of Retirement, 3(1), 107–114. https://doi.org/10.3905/jor.2015.3.1.107

Mpaata, E., Koskei, N., & Saina, E. (2020). Social Influence And Savings Behavior: Evidence From A Developing Country Context. SEISENSE Journal of Management, 3(4), 56–67. https://doi.org/10.33215/sjom.v3i4.396

OCBC NISP. (2022). Financial Fitness Index 2022. Jakarta.

Philippas, N. D., & Avdoulas, C. (2020). Financial literacy and financial well-being among generation-Z university students: Evidence from Greece. European Journal of Finance, 26(4–5), 360–381. https://doi.org/10.1080/1351847X.2019.1701512

Potrich, A. C. G., Vieira, K. M., & Kirch, G. (2015). Determinants of financial literacy: Analysis of the influence of socioeconomic and demographic variables. Revista Contabilidade e Financas, 26(69), 362–377. https://doi.org/10.1590/1808-057x201501040

Shaari, N. A., Hasan, N. A., Ramesh Kumar Moona Haji, M., & Mior Ahmad Jafri Md, S. (2013). Financial Literacy: a Study Among the University Students. Interdisciplinary Journal of Contemporary Research In Business, 5(2), 279.

Yong, H.-N. A., & Tan, K.-L. (2017). The Influence Of Financial Literacy Towards Risk Tolerance. International Journal of Business and Society, 18(3), 469–484. https://doi.org/10.33736/ijbs.3139.2017

DOI: http://dx.doi.org/10.31602/atd.v7i2.10864


  • There are currently no refbacks.

Copyright (c) 2023 Rizky Nastiti


At-Tadbir: Jurnal Ilmiah Manajemen is licensed under Creative Commons Attribution-Share A like 4.0 International License