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Volume 23 No. 1, April 2024

 

ARTICLE INFO
Article History:
Received: 30 October 2023
Accepted: 01 February 2024
Available online: 01 April 2024

MANAGEMENT AND ACCOUNTING REVIEW, VOLUME 23 NO. 1, APRIL 2024

Determinant of Gold Investment Decision in Z Generation: A Study of Planned Behavior and Social Learning Theory


Endang Sulistiyani1♣, Sri Wahyuni, Dody Setyadi, Karnowahadi and Rustono

Business Administration Department, Politeknik Negeri Semarang, Indonesia



ABSTRACT

This study was conducted to analyze the determinant of gold investment decision by exploring the theories of planned behavior and social learning, with the model incorporating locus of control as a mediating variable. The respondents were Z generation gold investors of PT Pegadaian in Semarang City, Central Java, Indonesia. A purposive sampling method was used and Z generation selected digital gold investment as the preferred instrument. To achieve this preference, gold bullion was purchased as a means of savings, effectively eliminating the necessity for physical storage, and the data were collected through questionnaires, observations, and interviews. Subsequently, the collected data were subjected to analysis using structural equation modeling and the validity of the mediating variables was assessed using Sobel test. The results showed that there were direct and indirect influences of personal selling and financial literacy variables on locus of control and gold investment decision. However, online customer review (OCR) did not have a direct or indirect influence on the variable. In addition, financial literacy had a direct and indirect influence on investment decision through locus of control.


Keywords: Personal Selling, Customer Online Review, Financial Literacy, Locus of Control, Investment Decision
Corresponding Author: Endang Sulistiyani; Business Administration Department, Politeknik Negeri Semarang, Indonesia; Email: This email address is being protected from spambots. You need JavaScript enabled to view it..

 

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