The Influence of Financial Literacy, Religiousness, Risk and Locus of Control on Financial Distress in the Millennial Generation in Bekasi City

Authors

  • Bayu Seno Pitoyo Universitas Bhayangkara Jakarta Raya
  • Milda Handayani Universitas Bhayangkara Jakarta Raya
  • Supriyanto Universitas Bhayangkara Jakarta Raya

Keywords:

Financial Literacy, Religious, Risk, Locus of Control, Financial Distress

Abstract

This research is research used to measure the influence of financial literacy, religion, risk and locus of control on financial distress in the millennial generation in Bekasi City. This research is quantitative research where the objects used are the millennial generation in Bekasi City. The technique used uses a probability sampling technique using the Slovin formula. The number of samples used in this research was 132 respondents. The design used in this research is hypothesis testing using the structural equitation model (SEM) - SmartPLS 4.0. The results of this research provide an explanation that each variable in this research, namely financial literacy, religion, risk and locus of control, has an influence on financial distress. This research has the limitation of the research object being that it was only carried out on the millennial generation in Bekasi City. This can be a suggestion for future researchers. The novelty in this research combines the variables of financial literacy, religion, risk and locus of control on financial distress in the millennial generation in Bekasi City

References

Ahmad. (2020). Religiusitas, Preferensi Risiko, Locus of Control , Perilaku Keuangan, Personal Financial Distress Pada Pekerja Muda di DKI Jakarta. 1(2), 381–403.

Asaad, C. . (2015). Financial Literacy and Financial Behavior: Assessing Knowledge and Confidence. Financial Services Review.

Awallia, A. ., & Dewi, A. . (2019). Analisis Hubungan Antara Financial Literacy dan Financial Distress (Studi Pada Dewasa Muda di Kota Bandung). Jurnal Wawasan Dan Riset Akuntansi. https://doi.org/10.25157/jwr.v6i2.1721%0D

Beckmann, E. (2013). Financial Literacy and Household Savings in Romania. Numeracy.

Cobb-Clark, Kassenboehmer, & Sinning. (2016). Locus of control and savings. Journal of Banking and Finance, 73(7837), 113–130. https://doi.org/10.1016/j.jbankfin.2016.06.013%0D

Cole, S., Sampson, T., & Zia, B. (2011). Prices or Knowledge? What Drives Demand for Financial Services in Emerging Markets. Journal of Finance. https://doi.org/10.1111/j.1540-6261.2011.01696.x

Ghozali, I., & Latan, H. (2015). Partial Least Squares Konsep, Teknik dan Aplikasi Menggunakan Program SmartPLS 3.0 Untuk Penelitian Empiris. Universitas Diponegoro.

Ghozali, P. D. H. I., & Latan, H. (2015). Partial Least Squares Konsep, Teknik dan Aplikasi menggunakan Program SmartPLS 3.0 (2nd ed.). Badan Penerbit-Undip.

Grable, J., Britt-Lutter, S., & Webb, F. (2008). Environmental and Biopsychosocial Profiling as a Means for Describing Financial Risk-Taking Behavior. Journal of Financial Counseling and Planning, 19(2).

Hadar, L., Sood, S., & Fox, C. . (2013). Subjective knowledge in consumer financial decisions. Journal of Marketing Research. https://doi.org/10.1509/jmr.10.0518

Hastings, J., & Tejeda-Aston, L. (2008). Financial Literacy, Information, and Demand Elasticity: Survey and Experimental Evidence from Mexico. National Bureau of Economic Research. https://doi.org/10.3386/w14538

Hsee, & Weber. (1998). Cross-cultural Differences in Risk Perception, but Cross-cultural Similarities in Attitudes Towards Perceived Risk. Management Science, 44(9), 1205–1217.

Idris, D. . (2013). Relationship between financial literacy and financial distress among youths in Malaysia - An empirical study. Geografia : Malaysian Journal of Society and Space.

Lajuni, Bujang, & Karia, A. (2018). The Effect of Religiosity, Financial Knowledge, and Financial Behaviour on Financial Distress Among Undergraduate Students. Proceedings of the 2nd Advances in Business Research International Conference, 6(2), 179–186. https://doi.org/10.1007/978-981-10-6053-3_17

Margaretha, F., & Pambudhi, R. . (2015). Tingkat Literasi Keuangan Pada Mahasiswa S1 Fakultas Ekonomi. Jurnal Manajemen Dan Kewirausahaan (Journal of Management and Entrepreneurship), 17(1), 76–85. https://doi.org/10.9744/jmk.17.1.76-85%0D

Mokhlis, S. (2009). Relevancy and Measurement of Religiosity in Consumer Behavior Research. International Business Research. https://doi.org/10.5539/ibr.v2n3p75%0D

Onyima, J. ., & Ojiagu, N. . (2017). Digital Technology and Formalization of informal Businesses: A case of African Traditional Spiritualists. International Journal of Academic Research in Business and Social Sciences.

Rianto, M. R., Jasfar, F., & Arafah, W. (2021). Mediating Effect of Organization Learning on the Relationship Between Strategic Change , Knowledge Banks. 10(3), 26–49.

Rianto, M. R., Woestho, C., & Fikri, A. W. N. (2022). The Role of Mediating Innovation and Social Media : Market Orientation and Entrepreneurial Orientation on the Performance of MSME’s Processed by Sea Products in Labuan Village, Banten. East Asian Journal of Multidisciplinary Research, 1(8), 1703–1714. https://doi.org/10.55927/eajmr.v1i8.1350

Sabri, & Falahati. (2014). . Toward a Framework of Financial Wellness Determinants: Investigating the Moderating Effect of Religion. Australian Journal of Basic and Applied Sciences.

Sedikides, C. (2010). hy does religiosity persist? Personality and Social Psychology Review. https://doi.org/10.1177/1088868309352323%0D

Sugiyono. (2019). Metode Penelitian Kuantitatif Kualitatif Dan R&D.

Downloads

Published

2023-09-30

How to Cite

Bayu Seno Pitoyo, Milda Handayani, & Supriyanto. (2023). The Influence of Financial Literacy, Religiousness, Risk and Locus of Control on Financial Distress in the Millennial Generation in Bekasi City. IJESM Indonesian Journal of Economics and Strategic Management, 1(03), 213–222. Retrieved from https://journal.drafpublisher.com/index.php/ijesm/article/view/26

Most read articles by the same author(s)

1 2 > >>