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THE INFLUENCE OF EDUCATION AND EXPERIENCE TOWARD INVESTMENT DECISION WITH MODERATED BY FINANCIAL LITERACY

Khaira Rizfia Fachrudin () and Khaira Amalia Fachrudin
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Khaira Rizfia Fachrudin: University of Sumatera Utara
Khaira Amalia Fachrudin: University of Sumatera Utara

Polish Journal of Management Studies, 2016, vol. 14, issue 2, 51-60

Abstract: Stock right investment decision is expected to provide the expected profit. This research aims to determine the influence of education and experience toward investment decision with moderated financial literacy by individual investors in the city of Medan. This study used primary data by questionnaire and the sample consisted of 250 respondents who are investor active in the city of Medan – Indonesia. Data analysis using descriptive statistical analysis and Structural Equation Modelling. The results showed that investors with the highest level of education is undergraduate 46.80%. The experience of investors invest in stocks that have been investing in shares over 3 years is the largest number as many as 36.00%. Education and investment experience have no significant relationships directly at alpha 5% toward the investment decision. Financial literacy is found to strengthen the links between education and experience toward investment decisions. The implication is that financial literacy is indispensable for the right investment decision.

Keywords: education; experience; financial literacy; stock; investment; investment decision (search for similar items in EconPapers)
Date: 2016
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