Financial literature and nationalism in intention In Share Investor Prospective Millenial Generation
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Dec 31, 2022
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Abstract
The tendency of increasing stock investment among millennials indicates they are literate in financial literacy. Then, state-owned companies become an attraction for potential investors because they are considered to have promising profit prospects, as well as security in investing. This study aims to analyze the effect of financial literacy on the intention to invest in shares of potential investors among the millennial generation and the influence of nationalism as a mediator. This study uses a survey method with a quantitative approach. We have distributed questionnaires to 250 respondents who are millennials born after the 1980s. Field data were then analyzed using multiregression analysis techniques. We find that financial literacy has a significant effect on investors' intention to buy shares of State-Owned Enterprises (BUMN). Nationalism can also strengthen the relationship of financial literacy with investors' intentions to buy shares of state-owned companies.
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How to Cite
Fitri, F., Anggraeni, D., Mashuddin, N., & Nulaela. (2022). Financial literature and nationalism in intention In Share Investor Prospective Millenial Generation . Enrichment : Journal of Management, 12(5), 4432-4438. https://doi.org/10.35335/enrichment.v12i5.1035
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Delvande, A., Rohwedder, S. and Willis, RJ (2008), “Retirement planning and the role of financial literacy and cognition”, Working Paper 2008-190, MI Retirement Research Center.
Garson GD (2012). Hierarchical Linear Modeling: Guide and Applications. Thousand Oaks, CA: Sage Publications, Inc.
Hair, JF, Black, WC, Babin, BJ and Anderson, RE (2009). Multivariate Data Analysis, 7 ed., Pearson, Upper Saddle River, NJ
Hoogland, JJ, & Boomsma, A. (1998). Robustness Studies in Covariance Structure Modeling: An Overview and a Meta-Analysis. Sociological Methods & Research, 26, 329-367. https:// doi.org/10.1177/0049124198026003003
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Lusardi, A., & Mitchell, O. (2014). The Economic Importance of Financial Literacy: Theory and Evidence. Journal of Economic Literature, 55(1), 5–44. https://doi.org/10.1257/jel.52.1.5
Palameta, B., Nguyen, C., Hui, TS, Gyarmati, D., Wagner, RA, Rose, N., & Llp, F. (2016). The link between financial confidence and financial outcomes among working-aged Canadians,(May).
Piron, Francis. (2000). “Consumers' Perception of the Country of Origin Effect on Purchasing Intentions of Conspicuous Products.” Journal of Consumer Marketing, 17, 308-321.
Roth, Martin and Jean Romeo. (1992). “Matching Product Category and Country Image Perception: A Framework for Managing Country-of-Origin Effects.”Journal of International Business Studies, 23, 477-498.
Samiee, Saeed. (1994). “Consumer Evaluation of Products in Global Markets.”Journal of International Business Studies, 25, 579-604.
Tabachnick, BG, & Fidell, LS (2013). Using Multivariate Statistics. 6th Edition. Boston: Pearson & Bacon.
Uma Sekaran. (2014).Research Methods for Business: A Skill-Building Approach, 6th Edition, Wiley.
Willis, LE (2008). Against Consumer Financial Literacy Education. Paper 208. http://lsr.nellco.org/upenn_wps/208.
Ajzen, I., (1985). From intentions to actions: a theory of planned behavior, in Action Control: From Cognition to Behavior, in J. Kuhl, and J. Beckmann, Eds. New York: Springer.
Ajzen, I., 1991. The Theory of Planned Behavior. Organizational Behavior and Human Decision Processes. 50(2), 179-211.
Atkinson, A., & Messy, F. (2012). OECD Working Papers on Finance, Insurance and Private Pensions. https://doi.org/10.1787/20797117.
Barnett, V., & Lewis, L. (1978). Outliers in statistical data. Chichester: John Wiley & Sons.
Carpena, F., Cole, S., Shapiro, J., & Zia, B. (2019). The ABCs of Financial Education: Experimental Evidence on Attitudes, Behavior, and Cognitive Biases. Management Science,65 (1), 346–369. https://doi.org/10.1287/mnsc.2017.2819.
Chapa, Sindy and Angelica Hausman. (2003). “Toward an Understanding of Mexican Borderlands' Perception of American Products: A COO Study.” In Winter Educators' Conference Proceedings. Chicago: American Marketing Association. Abstracts, 198.
Choi, Myung-Kyoo, John Mowen and Michael S. Minor. “The Effect of Country of Origin Evaluations and Attitude toward the Ad: Test of the Match-up Hypothesis.” Association for Consumer Research conference presentation, 1995.
Delvande, A., Rohwedder, S. and Willis, RJ (2008), “Retirement planning and the role of financial literacy and cognition”, Working Paper 2008-190, MI Retirement Research Center.
Garson GD (2012). Hierarchical Linear Modeling: Guide and Applications. Thousand Oaks, CA: Sage Publications, Inc.
Hair, JF, Black, WC, Babin, BJ and Anderson, RE (2009). Multivariate Data Analysis, 7 ed., Pearson, Upper Saddle River, NJ
Hoogland, JJ, & Boomsma, A. (1998). Robustness Studies in Covariance Structure Modeling: An Overview and a Meta-Analysis. Sociological Methods & Research, 26, 329-367. https:// doi.org/10.1177/0049124198026003003
Kline, RB (2016). Principles and Practice of Structural Equation Modeling, 5rd ed., The Guilford Press, New York, NY
Kurihara, Y. (2013). Does Financial Skills Promote Economic Growth?International Journal Of Humanities And Social Science, 3(8), 92-97. Lampert, Shlomo and Eugene Jaffe. “Country of Origin Effect on International Market Entry.” Journal of Global Marketing, 10 (1996): 27-52.
Lusardi, A., & Mitchell, O. (2014). The Economic Importance of Financial Literacy: Theory and Evidence. Journal of Economic Literature, 55(1), 5–44. https://doi.org/10.1257/jel.52.1.5
Palameta, B., Nguyen, C., Hui, TS, Gyarmati, D., Wagner, RA, Rose, N., & Llp, F. (2016). The link between financial confidence and financial outcomes among working-aged Canadians,(May).
Piron, Francis. (2000). “Consumers' Perception of the Country of Origin Effect on Purchasing Intentions of Conspicuous Products.” Journal of Consumer Marketing, 17, 308-321.
Roth, Martin and Jean Romeo. (1992). “Matching Product Category and Country Image Perception: A Framework for Managing Country-of-Origin Effects.”Journal of International Business Studies, 23, 477-498.
Samiee, Saeed. (1994). “Consumer Evaluation of Products in Global Markets.”Journal of International Business Studies, 25, 579-604.
Tabachnick, BG, & Fidell, LS (2013). Using Multivariate Statistics. 6th Edition. Boston: Pearson & Bacon.
Uma Sekaran. (2014).Research Methods for Business: A Skill-Building Approach, 6th Edition, Wiley.
Willis, LE (2008). Against Consumer Financial Literacy Education. Paper 208. http://lsr.nellco.org/upenn_wps/208.