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The Effect of Risk Perception and Income on Investment Decisions

  • 1* Universitas Sebelas Maret Surakarta
  • 2 Universitas Islam Negeri Raden Fatah Palembang
  • 3 Universitas Tama Jagakarsa
  • 4 Akademi Sekretari Dan Manajemen Ariyanti
  • 5 Universitas Sumatera Barat

* Corresponding Author: Tanti Widia Nurdiani

Open Access
DOI
https://doi.org/10.59431/ijer.v6i2.816
Published
Pages
619–624

Issue

Vol. 6 No. 2 (2026)

Indonesian Journal Economic Review (IJER)
June

Abstract

This study examines how risk perception and income shape investment decisions among students of the Faculty of Economics and Business at ABC University, Jakarta. The issue is relevant because student investors often enter financial markets with uneven financial literacy, modest income, and different tolerance toward uncertainty. A quantitative design was applied using primary data collected through questionnaires. Since the population was manageable, census sampling was used, and 75 students became respondents. The data were tested with Partial Least Squares (PLS) to assess the direct and joint effects of the independent variables. The findings indicate that risk perception and income influence investment decisions both individually and jointly. The model explains 91% of the variation in investment decisions, while 9% is affected by variables outside this research. Although the explanatory value is high, the result should be read carefully because investment behavior among students may also be shaped by financial literacy, peer influence, digital investment platforms, and market information. This study suggests that better risk understanding and income management can support more rational student investment behavior.

Keywords

Risk Perception Income Investment Decisions Students

How to Cite

Nurdiani, T. W., Riduwansah, Ginting, R., Dwiyono, G., & Nini. (2026). The Effect of Risk Perception and Income on Investment Decisions. Indonesian Journal Economic Review (IJER), 6(2), 619–624. https://doi.org/10.59431/ijer.v6i2.816

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Author Biographies

  • Tanti Widia Nurdiani, Universitas Sebelas Maret Surakarta

    Doctoral Program in Economics, Faculty of Economics and Business, Universitas Sebelas Maret Surakarta, Surakarta, Central Java Province, Indonesia.

  • Riduwansah, Universitas Islam Negeri Raden Fatah Palembang

    Zakat and Waqf Management Study Program, Faculty of Islamic Economics and Business, Universitas Islam Negeri Raden Fatah Palembang, Palembang City, South Sumatra Province, Indonesia.

  • Rudi Ginting, Universitas Tama Jagakarsa

    Accounting Study Program, Faculty of Economics, Universitas Tama Jagakarsa, South Jakarta City, Special Capital Region of Jakarta, Indonesia.

  • Gatot Dwiyono, Akademi Sekretari Dan Manajemen Ariyanti

    Administrative Management Study Program, Akademi Sekretari Dan Manajemen Ariyanti, Bandung City, West Java Province, Indonesia.

  • Nini, Universitas Sumatera Barat

    Management Study Program, Faculty of Economics, Universitas Sumatera Barat, Pariaman City, West Sumatra Province, Indonesia.

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Copyright (c) 2026 Tanti Widia Nurdiani, Riduwansah, Rudi Ginting, Gatot Dwiyono, Nini

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