PERSEPSI RISIKO MEMODERASI PENGARUH LITERASI KEUANGAN DAN PERILAKU KEUANGAN TERHADAP KEPUTUSAN INVESTASI UKM SEKTOR PERTANIAN DI KABUPATEN LAMONGAN

This study aims to investigate the effect of financial literacy and financial behavior on investment decisions of small and medium enterprises (SMEs) in the agricultural sector in Lamongan Regency, as well as the moderating role of risk perception in the relationship. This research is a quantitative study using primary data. The data collection method was carried out through a questionnaire distributed to SMEs in Lamongan Regency. The sample used in this study was 120 respondents with proportional random sampling technique. The data obtained was processed with SPSS. This analysis uses moderation regression analysis (MRA), t test, and coefficient of determination test. The research findings show that financial literacy, financial behavior, and risk perception partially affect investment decisions. Risk perception cannot moderate the effect of financial literacy and financial behavior on investment decisions. These results indicate that the effects of financial literacy and financial behavior on investment decisions operate regardless of the level of individual risk perception.