PENGARUH LITERASI KEUANGAN DAN PERSEPSI RISIKO TERHADAP KEPUTUSAN INVESTASI DENGAN PERILAKU KEUANGAN SEBAGAI VARIABEL MEDIASI PADA UMKM (Studi kasus pada UMKM Batik di Kecamatan Karangploso)

This study aims to determine the effect of financial literacy and risk perception on investment decisions, with financial behavior as a mediating variable among members of the Kalosa batik community in Karangploso District, Malang, totaling 62 members. The sampling technique used in this research is census sampling. The data analysis method employs multiple linear regression analysis and path analysis. The results of the study indicate that financial literacy has a negative effect on investment decisions. Risk perception has a positive and significant effect on investment decisions. Financial behavior also has a positive and significant effect on investment decisions. Financial literacy positively and significantly affects financial behavior. Risk perception positively and significantly influences investment decisions. Financial literacy, through financial behavior, positively and significantly affects investment decisions. However, risk perception, through financial behavior, does not have a positive and significant effect on investment
decisions.