FINANCIAL KNOWLEDGE, FINANCIAL ATTITUDE, AND FINANCIAL MANAGEMENT BEHAVIOR: SELF–CONTROL AS MEDIATING

Authors

DOI:

https://doi.org/10.21776/ub.ijabs.2020.28.1.5

Abstract

ABSTRACT

Purpose — This research aims to analyze the factors influencing financial management behavior in employees of  Islamic University "45" Bekasi because financial behavior is a very important issue at this time.

Design/methodology/approach — The sampling technique used for this research is purposive sampling with the total population is 305 employees and samples taken were 81 employees. The data used primary data and analyzed data using smart PLS.

Findings — The results of the research state that financial knowledge has a significant effect on financial management behavior, the financial attitude has a significant effect on financial management behavior, self-control has a significant effect on financial management behavior, financial knowledge has a significant effect on self-control, the financial attitude has a significant effect on self-control, self-control mediated the partial effect of financial knowledge on financial management behavior, and self-control mediated the partial effect of financial attitudes on financial management behavior.

Practical Implications — Financial knowledge does affect Indonesian people on how they manage their financial behavior and attitude.

Originality/value — This research is related to the behavior of Indonesian people who tend to think short-term and tend to have a consumptive life pattern so that it often happens where someone with enough income but still has financial problems.

Keywords Financial knowledge, financial attitude, self-control, financial management behavior

Paper Type research paper (case study)

Author Biography

  • Indra Siswanti, Mercu Buana University, Jakarta
    Departement Management

References

Camilla Strömbäck, Thérèse Lind, Kenny Skagerlund, DanielVästfjäll, Gustav Tinghög. Lusardi. (2017). Doesself-control predict financial behavior and financial well-being? Journal of Behavioral and Experimental Finance, 14, 30-38. https://idx.doi.org/10.1016/j.jbef.2017.04.002

Chaplin, J.P. (2011). Kamus Lengkap Psikologi. Jakarta: Raja Grafindo Persada

Chandra, Abhijeet. (2009). Individual investor’s trading behavior and the competence effect. Journal of Behavioral Finance, 6(1), 215-30. https://doi.org/10.1016/j.jcorpfin.2007.04.011

Chen-Chen Yonga, Siew-Yong Yewb, dan Chu-Kok Weec (2018) Financial Knowledge, Attitude and Behaviour of Young Working Adults in Malaysia. Institutions and Economies, 10(4), 21- 48

Dew, Jeffery, dan Xiao Jing Jian. (2011). The Financial Management Behavior Scale: Development and Validation. Journal of Financial Counseling and Planning. 22, 43-59.

Gerungan. (2000). Psikologi Sosial. Bandung: Refika Aditama

Ghozali, Imam. (2006). Aplikasi Analisisi Multivariat Dengan Program SPSS (Application of Multivariate Analysis with the SPSS Program). Edisi 3. Andi: Yogyakarta

Ghufron, M. Nur dan Rini Risnawita S. (2011). Teori-teori psikologi (Psychology theories). Yogyakarta: Arr-Ruzz Media

Graham, John R, Harvey, Campbell R, and Huang Hai. (2009). Investor competence, trading frequency, home bias. Management Science, 55(7), 205-235. https://doi.org/10.1287/mnsc.1090.1009

Herdjiono, Irine dan Damanik, Angela. (2016). Pengaruh Finacial Attitude, financial knowledge, parental income terhadap financial management behavior (Effect of Financial Attitude, financial knowledge, parental income on financial management behavior). Jurnal Management Teori dan Terapan, 5(3), 226-241. http://dx.doi.org/10.20473/jmtt.v9i3.3077

Herlindawati, Dwi. (2015). Pengaruh kontrol diri, jenis kelamin, dan pendapatan terhadap pengelolaan keuangan pribadi mahasiswa Pascasarjana Universitas Negeri Surabaya (The effect of self-control, gender, and income on the personal financial management of postgraduate students at Universitas Negeri Surabaya). Jurnal Ekonomi Pendidikan dan Kewirausahaan. 3(1), 158-169. http://dx.doi.org/10.26740/jepk.v3n2.p158-169

Hilgert, Marianne A., Jeanne M.Hogarth dan Sondra Baverly. (2003). Household Financial Management: The Connection between Knowledge and Behavior. Federal Reserve Bulletin, 89(7), 309-322

Hofmann, Baumeister, Förster dan Vohs. (2012). Everyday Temptations: An Experience Sampling Study of Desire, Conflict, and Self-Control. Journal of Personality and Social Psychology, 6(102), 1318-1335

Horne, James C. Van and Wachowicz John M. Jr. (2005). Fundamental of Financial Management. Buku 1, edisi 4. Jakarta: Salemba Empat

Hung Angela A., Parker Andrew .M, Yoong Joanne K (2009). Defining and Measuring Financial Literacy. Labor And Population Working Paper

Ida dan Dwinta, Chintia Yohana. (2010). Pengaruh locus of control, financial knowledge, dan income terhadap financial management behavior (The effect of locus of control, financial knowledge, and income on financial management behavior). Jurnal Bisnis dan Akuntansi, 12(3), 131 – 144. http://dx.doi.org/10.20473/jmtt.v9i3.3077

Kholilah, Naila Al dan Iramani, Rr. (2013). Studi Financial Management Behavior Pada Masyarakat Surabaya (Study Financial Management Behavior in Surabaya Society). Journal of Business and Banking, 3(1), 25-33

Lynne M. Borden, Sun-A Lee, Joyce Serido, Dawn Collins (2008). Changing College Students’ Financial Knowledge, Attitudes, and Behavior through Seminar Participation. Journal of Family and Economic Issues. 29, 23-40. https://doi.org/10.1007/s10834-007-9087-2

Marsh, Brent A. (2006). Examining the personal finanial attitudes,behavior and knowledge levels of first-year and senior students at Baptist Universities in the State of Texas. Bowling Green State University

Madern, Tamara, Schors Anna Van Der. (2012). Financial attitudes and skills as early-warning signs of financial problems. Dutch National Institute for Family Finance Information

Mien, Nguyen Thi Ngoc dan Thao Tran Phuong. (2015). Factors Affecting Personal Financial Management Behaviors: Evidence from Vietnam. Proceedings of the Second Asia-Pacific Conference on Global Business, Economics, Finance and Social Sciences (AP15 Vietnam Conference)

Naomi Prima dan Mayasari, Iin. (2008). Pengaruh Kontrol Diri Terhadap Perilaku Pembelian Kompulsif (Effect of Self-Control on Compulsive Buying Behavior) . Telaah Bisnis, 9(2), 179-193.

Otto, Philip E, Davies G.B., Chater, N. (2007). Note on Ways of Saving: Mental Mechanisms as Tools for Self-Control. Global Business and Economic Review, 9(2), 315-345. https://doi.org/10.1504/GBER.2007.013703

Pankow Debra. (2003). Financial Values, Attitud and Goals, North Dakota State University Fargo, North Dakota.

Perry, V. G., dan Morris, M. D. (2005). Who is in control? The role of self-perception, knowledge, and income in explaining consumer financial behavior. The Journal of Consumer Affairs, 39(2), 299-313. https://doi.org/10.1111/j.1745-6606.2005.00016.x

Prihartono, M. Rizky Dwi and Asandimitra, Nadia. (2018). Analysis Factors Influencing Financial Management Behaviour. International Journal of Academic Research in Business and Social Sciences, 8(8), 308-326. http://dx.doi.org/10.6007/IJARBSS/v8-i8/4471.

Purwidianti, Wida dan Mudjiyanti, Rini (2016) Analisis pengaruh pengalaman keuangan dan tingkat pendapatan terhadap perilaku keuangan keluarga di Kecamatan Purwokerto Timur (Analysis effect financial experience and income level on family financial behavior in District of East Purwokerto). Benefit, Jurnal Manajemen dan Bisnis, 1(2), 141-148. https://doi.org/10.23917/benefit.v1i2.3257

Pompian M. M. (2006). “Behavioral financial and wealth managementâ€. Hoboken. New Jersey: John Wiley & Sons, Inc.

Sabri Mohamad Fazli, MacDonald Maurice, Masud Jariah, Paim Laily, Hira Tahira K., Othman Mohd. Amim (2008). Financial Behavior and Problems among College Students in Malaysia: Research and Education Implication. Consumer Interests Annual, 5(4), 166-170

Shohib, Muhammad. (2015). Sikap Terhadap Uang dan Perilaku Berhutang (Attitudes Towards Money and Debt Behavior). Jurnal Psikologi Ilmiah Terapan, 3(1),215-240

Tifani Enno Pradiningtyas dan Fitri Lukiastuti (2019). Pengaruh pengetahuan keuangan dan sikap keuangan terhadap locus of control dan Perilaku pengelolaan keuangan mahasiswa ekonomi (Effect of financial knowledge and financial attitudes on locus of control and financial management behavior of economics student). Jurnal Minds: Manajemen Ide dan Inspirasi, 6(1), 96-112. https://doi.org/10.24252/minds.v6i1.9274

Wibisono, Okky Putri. (2013). Pengaruh Kompetensi Dan Kepercayaan Diri Investor Terhadap Perilaku Perdagangan Saham (Effect of Competence and Investor Confidence on Stock Trading Behavior). Journal of Business and Banking, 3(1), 56-71. http://dx.doi.org/10.14414/jbb.v3i1.253

Downloads

Published

30-04-2020

How to Cite

FINANCIAL KNOWLEDGE, FINANCIAL ATTITUDE, AND FINANCIAL MANAGEMENT BEHAVIOR: SELF–CONTROL AS MEDIATING. (2020). The International Journal of Accounting and Business Society, 28(1), 105-132. https://doi.org/10.21776/ub.ijabs.2020.28.1.5