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Antologi Pemikiran: Memacu Pemulihan Ekonomi Nasional Menuju Pertumbuhan Berkelanjutan
Full text linkAntologi Pemikiran: Memacu Pemulihan Ekonomi Nasional Menuju Pertumbuhan Berkelanjutan
Full text linkSimilarity The Effect of Instrumented Financial Literacy on Young Generation Stock Investment Decisions: Countering Endogeneity Problem
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SIMILARITY CHALLENGES, OPPORTUNITIES AND STRATEGIES TO REDUCE CARBON EMISSIONS: A CASE STUDY OF THE INDONESIA SOCIAL FORESTRY.
Full text linkLiterasi Keuangan dan Keputusan untuk Berkonsultasi dengan Profesional
Full text linkPrevious literatures showed that financial literacy was a determining factor for an
individual's decision to consult with professionals. However, the relationship between the two
may be simultaneous, so the estimation method of causality testing has been imprecise. The
respondents from this study were 115 students of Masters of Management degree of Gadjah
Mada University, specific on Executive Class in Jakarta. This study found that there was a
simultaneous relationship between financial literacy and consultation decisions. Furthermore,
causality testing was carried out using the Control Function estimation method, which
contained instrumental variables in the form of family economic shocks that had been
experienced in the last twenty years. This estimation method was useful to avoid endogeneity
problems. The finding of this study was instrumented financial literacy significantly increased
the probability of individuals to consult with professionals. Apart from the real benefits of
consulting with professionals or level of professionality, a personal financial education model
can be an alternative financial education that can be done by stakeholders.
Keywords : financial literacy; financial advisors; simultaneity; endogenous problems;
instrumental variable
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