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Behavioral finance elucidates how investors rationally commit errors in the process of making investment decisions as a result of cognitive and emotional biases, ultimately resulting in unfavorable investment choices. People are unable to avoid a variety of behavioral biases that have an impact on investors' investment decision-making processes. The human mind employs shortcuts and emotional filters to interpret information, leading to errors in the decision-making process. The objective of this study is to investigate and assess the impact of behavioral biases such as disposition effects, herding, and overconfidence on investment decision-making. Additionally, we will examine how financial literacy moderates these biases. The research employed a purposive sample strategy to select generation Z investors in Kediri City. The sample size of 400 respondents was determined using the Krejcie & Morgan table. This research employs the Partial Least Squares (PLS) Structural Equation Model (SEM) analysis method using the SmartPLS version 3 data processing application. The research findings indicate that the disposition effect and overconfidence exert a substantial impact on investment decision-making; however, herding does not exhibit a significant influence on investment choice-making. Financial knowledge enhances the impact of the disposition effect on investment decision-making in a positive way. Financial literacy has a negative moderating effect on the influence of herding and overconfidence on investment decision-making among Generation Z investors in Kediri City.

MSMEs play a vital role in global economic development, as well as being the key to most businesses and important contributors to job creation and economic development. However, amidst the uncertain business and economic situation, most MSMEs have to struggle to maintain their business performance. So efforts are needed from various parties to improve business performance in MSMEs. This research aims to test and analyze the influence of financial literacy levels on business performance, with financial access and financial risk attitudes as mediating variables. Sampling in this research used a purposive sampling technique among tofu processing industry players in Kediri City. The sample was determined using the Slovin method and a sample of 400 respondents was obtained. The method used in this research uses Structural Equation Model (SEM) Partial Least Square (PLS) analysis through the SmartPLS data processing program version 3. The results of this research show that all hypotheses are accepted. Financial literacy, access to finance and financial risk attitudes have a positive and significant effect on business performance. Financial access is able to mediate the relationship between financial literacy and financial risk attitudes, and financial risk attitudes are also able to mediate the relationship between financial literacy and business performance in the Kediri City tofu processing industry.

The growth of capital market investors and financial literacy has increased every year and investors in making an investment decision However, financial theory argues that there are psychological biases that can influence investors in making inappropriate investment decisions. This study aims to examine the influence and analyze Overconfidence, Loss Aversion and Herding Bias on investment decisions and Financial Literacy as a mediating variable. Financial Literacy is used as mediating variable in the relationship of Overconfidence, Loss Aversion. However Herding Bias variables on Investment Decisions. This study uses non-probability sampling techniques to as many as 163 investors stock in Yogyakarta as respondents. Findings/Results: the study shows that overconfidence, loss aversion and herding bias have a significant effect on investment decisions and overconfidence, loss aversion and herding bias are not mediated by financial literacy in making investment decisions.

This study examines the impact of overconfidence bias, herding bias, and risk perception on stock investment decisions. This study uses explanatory research with a quantitative approach. The population in this study is the Generation Z Society, the generation born between 1997-2012 in Malang City who invests in the capital market. The sampling technique used in the study was purposive sampling. Data collection was used through surveys using questionnaires, and the use of Likert scales to test instruments. The data were analyzed using Structural Equation Model Partial Least Square (SEM-PLS) modeling. The results of this study indicate that overconfidence bias and herding bias contained in investors can reduce the quality of investment decisions. In addition, overconfidence bias and herding bias can also reduce investors' risk perception. The perception of risk in investors can influence investment decisions and increase the benefits of the investment process. Risk perception can mediate between overconfidence bias and herding bias on investment decisions. The results of this study suggest that investors should minimize the formation of bias when making investment decisions and diversify their portfolios to minimize risk.    

The goal of this research is to determine how financial literacy and financial attitude influence financial management behavior in Culinary MSMEs in Rawamangun, East Jakarta City. The type of research used is explanatory research. The sampling method is probability with area sampling. Samples were collected from 50 Culinary MSMEs actors in East Jakarta's Rawamangun Urban Village. The primary data used are questionnaire responses on a five-point Likert scale. Multiple Regression Analysis was used to analyze the data, aided by SPSS version 25.0. Based on the testing results, the two hypotheses show that financial literacy and financial attitudes positively and significantly influence financial management behavior in Culinary MSMEs actors in Rawamangun Urban Village. Theoretically, this study recommends further research to analyze in-depth other variables that shape the financial management behavior of Culinary MSMEs in Rawamangun Urban Village. Practically, this study highlights the need for education and literacy to strengthen the financial management behavior of culinary entrepreneurs, with the aim of improving the economy and business through insightful activities such as education, and training courses that focus on savings, loans, investments and insurance.

Fraud is a thorn in the flesh of many organizations in both local and global business ecosystems, more so in the financial sector because of the liquid nature of their services. To curb this menace, Financial Institutions including Microfinance institutions implemented fraud risk management practices. While larger financial institutions afford raft measures for curbing fraud, MFIs contend with less sophisticated practices in spite of them being the most susceptible to financial improprieties. Further, the determination of the overall effect of these practices on financial performance is critical in evaluating their success. The objective of this study therefore was to find out how fraud risk management practices affect the financial performance of Microfinance Institutions in Kenya. The study was anchored on the fraud management life cycle theory and focused on twelve deposit-taking Microfinance Institutions that were in operation in the Nairobi region of Kenya between 2016 to 2020. The study adopted a descriptive research design using cross-sectional data computed from the average financial results for five years 2016-2020. The study used purposive and stratified Random sampling methods to select a sample of 281 respondents from finance, ICT, operations, Audit, and Litigation managers and staff. The study used descriptive and inferential statistics to analyze the data. The results showed that fraud risk management positively and significantly affected financial performance by curbing incidents of fraud and concluded that to improve financial performance microfinance institutions should implement fraud risk management since they had a positive and significant effect on financial performance. The study recommended that firms should invest substantially in fraud risk management to reduce incidences of fraud and improve financial performance. Further, the management of Microfinance Institutions should continually evaluate and update their practices to keep abreast with the ever-changing fraud antics.

MSMEs play a vital role in global economic development, as well as being the key to most businesses and important contributors to job creation and economic development. However, amidst the uncertain business and economic situation, most MSMEs have to struggle to maintain their business performance. So efforts are needed from various parties to improve business performance in MSMEs. This research aims to test and analyze the influence of financial literacy levels on business performance, with financial access and financial risk attitudes as mediating variables. Sampling in this research used a purposive sampling technique among tofu processing industry players in Kediri City. The sample was determined using the Slovin method and a sample of 400 respondents was obtained. The method used in this research uses Structural Equation Model (SEM) Partial Least Square (PLS) analysis through the SmartPLS data processing program version 3. The results of this research show that all hypotheses are accepted. Financial literacy, access to finance and financial risk attitudes have a positive and significant effect on business performance. Financial access is able to mediate the relationship between financial literacy and financial risk attitudes, and financial risk attitudes are also able to mediate the relationship between financial literacy and business performance in the Kediri City tofu processing industry.

Behavioral finance elucidates how investors rationally commit errors in the process of making investment decisions as a result of cognitive and emotional biases, ultimately resulting in unfavorable investment choices. People are unable to avoid a variety of behavioral biases that have an impact on investors' investment decision-making processes. The human mind employs shortcuts and emotional filters to interpret information, leading to errors in the decision-making process. The objective of this study is to investigate and assess the impact of behavioral biases such as disposition effects, herding, and overconfidence on investment decision-making. Additionally, we will examine how financial literacy moderates these biases. The research employed a purposive sample strategy to select generation Z investors in Kediri City. The sample size of 400 respondents was determined using the Krejcie & Morgan table. This research employs the Partial Least Squares (PLS) Structural Equation Model (SEM) analysis method using the SmartPLS version 3 data processing application. The research findings indicate that the disposition effect and overconfidence exert a substantial impact on investment decision-making; however, herding does not exhibit a significant influence on investment choice-making. Financial knowledge enhances the impact of the disposition effect on investment decision-making in a positive way. Financial literacy has a negative moderating effect on the influence of herding and overconfidence on investment decision-making among Generation Z investors in Kediri City.

This research aims to reveal the budgeting accounting practices of the Jaton Community in Gorontalo, especially in Reksonegoro village during the Eid Ketupat celebration. Ethnomethodology is used by researchers as a research method to explore and study how humans perceive and carry out daily activities in social reality. The results of the research concluded that the Jaton Family's budgeting accounting practices during Eid Ketupat celebrations were carried out in three ways: (1) estimating the budget based on previous year's expenditure, (2) estimating the budget based on the frequency of the number of guests, and (3) estimating the budget based on nominal savings. In optimizing the budget, it is revealed that there is a role for household accounting in it. Matombol-tombolan (mutual cooperation) household accounting practices are reflected in (a) the mutual cooperation attitude between husband and wife in combining income, (b) the mutual cooperation attitude between family members in preparing the ketupat tradition so that it can be carried out efficiently and effectively, and (c) the attitude of mutual cooperation between neighbors of the Jaton community to cover each other's shortcomings during the ketupat tradition. The values that underlie accounting practices carried out in the Ketupat celebration tradition are: Amanah (Trustworthy), Maslahah, Adil (Fair) and Loyal; which can be shortened into a word namely; AMAL (Charity).

The growth of capital market investors and financial literacy has increased every year and investors in making an investment decision However, financial theory argues that there are psychological biases that can influence investors in making inappropriate investment decisions. This study aims to examine the influence and analyze Overconfidence, Loss Aversion and Herding Bias on investment decisions and Financial Literacy as a mediating variable. Financial Literacy is used as mediating variable in the relationship of Overconfidence, Loss Aversion. However Herding Bias variables on Investment Decisions. This study uses non-probability sampling techniques to as many as 163 investors stock in Yogyakarta as respondents. Findings/Results: the study shows that overconfidence, loss aversion and herding bias have a significant effect on investment decisions and overconfidence, loss aversion and herding bias are not mediated by financial literacy in making investment decisions.