Research Article
The Impact of Psychological Factors and Investment Knowledge on Stock Investment Decisions Among Malang Students Using the Ajaib Application
@INPROCEEDINGS{10.4108/eai.30-10-2024.2354753, author={Reika Happy Sugiastuti and Anik Nur Aini and Fathia Shafa Firdausi and Rovan Dwiki Pradiva and Meiska Aulia}, title={The Impact of Psychological Factors and Investment Knowledge on Stock Investment Decisions Among Malang Students Using the Ajaib Application}, proceedings={Proceedings of the 3rd International Conference on Public Administration and Governance, ICOPAG 2024, 30 October 2024, Malang, Indonesia}, publisher={EAI}, proceedings_a={ICOPAG}, year={2025}, month={5}, keywords={psychological factors investment knowledge level investment decision ajaib application}, doi={10.4108/eai.30-10-2024.2354753} }- Reika Happy Sugiastuti
Anik Nur Aini
Fathia Shafa Firdausi
Rovan Dwiki Pradiva
Meiska Aulia
Year: 2025
The Impact of Psychological Factors and Investment Knowledge on Stock Investment Decisions Among Malang Students Using the Ajaib Application
ICOPAG
EAI
DOI: 10.4108/eai.30-10-2024.2354753
Abstract
This study aims to determine the influence of psychological factors and the level of investment knowledge of students in Malang on stock investment decisions through the Ajaib application. The research target is students aged 16-24 years old who invest in stocks using the application. The method used is a survey with a questionnaire as a data collection tool, with the sample taken through non-probability sampling and purposive sampling methods. Data analysis included testing the outer model (convergent validity, discriminant validity, Cronbach’s Alpha, and composite reliability) and the inner model (coefficient of determination, path coefficient, and T-statistic). The results showed that psychological factors and the level of investment knowledge have a positive and significant influence on students’ investment decisions. These findings emphasize the importance of financial education and psychological awareness in shaping smart investment behavior among young investors, especially through digital platforms such as Ajaib.
