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Abstract
This study aims to analyze the influence of entrepreneurial knowledge and social media on the entrepreneurial interest of students of the Management Study Program, Wahid Hasyim University, Semarang. The background of this research is driven by the high unemployment rate among university graduates, which demands an increase in entrepreneurial spirit as an alternative solution in creating jobs. This study uses a quantitative approach with data collection techniques through questionnaires distributed to 75 student respondents of the class of 2021. Data analysis was carried out using SPSS version 26 with validity, reliability, classical assumption test, multiple linear regression test, t test, F test, and determination test. The results showed that entrepreneurial knowledge had a positive and significant effect on entrepreneurial interest (t-count 4.772 > t-table 1.666; sig. 0.000 < 0.05), as well as social media (t-count 4.543 > t-table 1.666; sig. 0.000 < 0.05). Simultaneously, these two variables have an influence on significant to students' entrepreneurial interest (F-count 88.168; sig. 0.000). Thus, it can be concluded that entrepreneurial knowledge and the use of social media together contribute to increasing students' interest in becoming entrepreneurs. This research provides important implications for higher education institutions to further strengthen the entrepreneurship curriculum and encourage the use of digital media in supporting the entrepreneurial spirit of students.
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References
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References
Abdullah, R., N. H. Johan, and S. M. Rahim. 2023. Anchoring Effect and Investment Behavior: Evidence from Malaysian Retail Investors. Asian Journal of Business and Accounting 16(1):45–63.
Abreu, M., and V. Mendes. 2021. Financial Literacy and Investor Behavior: Exploring the Role of Biases in Investment Decisions. International Journal of Financial Studies 9(2):1–15.
Amin, H., and A. R. Rahman. 2022. Islamic Financial Literacy and Youth Investment Behavior in Malaysia. Journal of Islamic Accounting and Business Research 13(4):512–528.
Antara, P. M., R. Musa, and F. Hassan. 2016. Bridging Islamic Financial Literacy and Halal Literacy: The Way Forward in Halal Ecosystem. Procedia Economics and Finance 37:196–202.
Bakar, S., and A. Yi. 2016. The Impact of Psychological Factors on Investors’ Decision Making in Malaysian Stock Market. Procedia Economics and Finance 35:319–328.
Barber, Brad M., and Terrance Odean. 2011. The Behavior of Individual Investors. In Handbook of the Economics of Finance, edited by G. Constantinides, M. Harris, and R. Stulz, Vol. 2, pp. 1533–1570. Amsterdam: Elsevier.
Barberis, Nicholas. 2018. Psychology-Based Models of Asset Prices and Trading Volume. Handbook of Behavioral Economics 1:79–175.
Hassan, R., N. A. Ahmad, and M. Zain. 2022. The Role of Islamic Financial Literacy in Promoting Ethical Investment among Muslim Youth. Journal of Islamic Economics, Banking and Finance 18(3):45–61.
Kahneman, Daniel, and Amos Tversky. 1979. Prospect Theory: An Analysis of Decision under Risk. Econometrica 47(2):263–291.
Karim, R., A. Rahman, and N. Huda. 2021. Islamic Financial Literacy and Investment Decision-Making among Young Muslims. Journal of Islamic Finance 10(2):14–24.
Khan, M. T., M. Hassan, and A. Ahmad. 2021. Behavioral Biases and Investment Decisions: A Comparative Study of Individual and Institutional Investors. International Journal of Business and Management Review 9(3):12–28.
Kumar, Satish, and Neha Goyal. 2016. Evidence on Rationality and Behavioural Biases in Investment Decision Making. Qualitative Research in Financial Markets 8(4):270–287.
Lim, Y. S., M. N. Tan, and S. Lee. 2022. Digitalization and the Rise of Young Investors in ASEAN Capital Markets. Asian Economic Journal 36(4):332–351.
Lusardi, Annamaria, and Olivia S. Mitchell. 2020. Financial Literacy and the Need for Financial Education: Evidence and Implications. Journal of Economic Literature 58(2):429–478.
MES (Masyarakat Ekonomi Syariah). 2023. Laporan Indeks Literasi Keuangan Syariah Nasional 2023. Jakarta: MES Indonesia.
OECD. 2022. OECD/INFE 2022 International Survey of Adult Financial Literacy. Paris: Organisation for Economic Co-operation and Development.
OJK (Otoritas Jasa Keuangan). 2022. Survei Nasional Literasi dan Inklusi Keuangan 2022. Jakarta: OJK.
Pontoh, W. 2023. Social Media Influence, Digital Euphoria, and Overconfidence Bias among Millennial Investors in Indonesia. Jurnal Ekonomi dan Keuangan Islam 9(1):22–34.
Rahim, N. F., and H. Amin. 2021. Adoption of Sharia-Based Digital Investment Platforms in Malaysia: The Case of Wahed Invest. Journal of Islamic Marketing 12(9):1812–1830.
Raut, R. K. 2020. Past Behavior, Financial Literacy and Investment Decision-Making: The Mediating Role of Risk Tolerance. Journal of Behavioral and Experimental Finance 28:100412.
Roemanasari, N., A. Z. Rahman, and S. Yuliana. 2022. Religious Values, Psychological Factors, and Investment Decisions among Muslim Students in Indonesia. Jurnal Ekonomi dan Keuangan Islam 8(2):145–156.
Saiti, B., N. A. Bacha, and M. Masih. 2019. The Role of Islamic Financial Literacy in Reducing Behavioral Biases: Evidence from Muslim Investors. International Journal of Islamic and Middle Eastern Finance and Management 12(5):643–662.
Securities Commission Malaysia. 2023. Capital Market Review 2023. Kuala Lumpur: Securities Commission Malaysia.
Sharma, R., and K. Prajapati. 2022. The Role of Loss Aversion in Retail Investors’ Selling Decisions: Evidence from Emerging Asian Markets. International Journal of Behavioral Economics and Finance 11(2):87–96.
Statman, Meir. 2019. Behavioral Finance: The Second Generation. CFA Institute Research Foundation.
Toma, Florin M. 2020. Anchoring Effect in Stock Market Investors: Evidence from Eastern Europe. Economic Research–Ekonomska Istraživanja 33(1):2158–2172.
Wulandari, D., and A. Hermawan. 2021. Social Influence, Anchoring Bias, and Investment Decision among Young Investors in Indonesia. Jurnal Manajemen dan Kewirausahaan 23(2):102–114.
Younas, Z. I., M. F. Rasheed, and H. Raza. 2020. Behavioral Biases and Investment Decisions of Individual Investors: Evidence from an Emerging Market. International Journal of Economics and Financial Issues 10(2):100–108.