Determinan Keputusan Investasi Mahasiswa: Peran Pemahaman ESG dan Lingkungan Sosial
DOI:
https://doi.org/10.58192/profit.v5i2.4263Keywords:
ESG Understanding, Investment Decisions, PLS-SEM, Social Environment, StudentsAbstract
This study aims to investigate the determinants of students' investment decisions in the capital market by focusing on the role of Environmental, Social, and Governance (ESG) understanding and the influence of the social environment. Using a quantitative approach with Partial Least Squares Structural Equation Modeling (PLS-SEM) analysis, data were collected through a survey of student respondents to test the relationship between variables in the structural model. The research findings indicate that ESG understanding has a positive and significant influence on investment decisions, confirming that sustainability literacy has become the basis for strategic considerations for young investors. In addition, the social environment is proven to play a crucial role as a significant external driver in shaping students' investment behavior through group validation. Overall, this model shows strong predictive capacity with an R-Squared value of 0.402 and a high level of model alignment (Goodness of Fit). These results provide important implications for academics and regulators regarding the urgency of integrating ESG education and optimizing community-based social ecosystems to increase the participation of retail investors from the younger generation in a sustainable manner.
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