THE MODERATING ROLE OF SOCIAL INFLUENCE IN THE RELATIONSHIP BETWEEN FINANCIAL LITERACY AND GOLD INVESTMENT DECISIONS AMONG HOUSEWIVES
DOI:
https://doi.org/10.70248/jakpt.v4i1.4767Abstract
Financial literacy and social influence may shape housewives’ gold investment decisions, but their relationships require further examination. This quantitative cross-sectional study surveyed 107 housewives selected through purposive sampling. Questionnaire data were analyzed using Moderated Regression Analysis (MRA). Financial literacy was not significantly associated with investment decisions (B = −0.096; p = 0.807), while social influence showed a positive and significant association (B = 0.411; p < 0.001). The interaction was not statistically significant (B = −0.356; p = 0.073), providing insufficient evidence of a moderating effect. The overall model was significant (F = 5.863; p = 0.001) and explained 14.6% of the variance in investment decisions (R² = 0.146). However, the low reliability of the social influence (α = 0.318) and investment decision (α = 0.351) instruments limits confidence in these findings. The results suggest that social context may be associated with household investment decisions. Therefore, community-based financial education should integrate financial literacy with Sharia-compliant investment principles. These findings should be interpreted cautiously given the measurement limitations and cross-sectional design
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