The effect of debt attitude and peer influence on debt behavior

https://doi.org/10.35912/ijfam.v4i4.1457
Published: Mar 9, 2023

Abstract:

Purpose: This study examined the effect of debt attitude and peer influence on the debt behavior of paylater users by the millennial generation.

Research methodology: This study used a quantitative approach. The research method used in this study is a survey method. The instrument was a questionnaire made with Google Forms. The analysis method used in this research is Structural Equation Modeling (SEM), with Partial Least Squares (PLS) analysis technique using SmartPLS 3. The population was working millennials in Indonesia. Samples were chosen using a non-probability sampling technique with a purposive sampling method so that the total sample size was 100 people.

Results: The results of this study proved that debt attitude had a significant effect on the debt behavior of paylater users of the millennial generation. However, peer influence had no significant effect on the debt behavior of paylater users by the millennial generation.

Limitations: This study is limited to a few factors: debt attitude and peer influence. Moreover, this study only collects data from the junior millennial generation in Indonesia, which

results in narrowing this study.

Contribution: The information provided by this study can help authorities identify the determinants of debt behavior and address the rising debt levels.

Keywords:
1. debt attitude
2. peer influence
3. debt behavior
4. paylater
Authors:
1 . Sheron Leviany Dusia
Finance and Investment Program, School of Business and Management, Petra Christian University, Indonesia
2 . Kezia Natasha Setyabudhi
Finance and Investment Program, School of Business and Management, Petra Christian University, Indonesia
3 . Mariana Ing Malelak
Finance and Investment Program, School of Business and Management, Petra Christian University, Indonesia
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How to Cite
Dusia, S. L., Setyabudhi, K. N., & Malelak, M. I. (2023). The effect of debt attitude and peer influence on debt behavior. International Journal of Financial, Accounting, and Management, 4(4), 463–479. https://doi.org/10.35912/ijfam.v4i4.1457
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Issue & Section
Vol. 4 No. 4 (2023): March
Articles
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This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

References

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    Suryani, T. (2008). Perilaku konsumen: implikasi pada strategi pemasaran. Yogyakarta: graha ilmu, 118.

    Syahputra, E. (2022). 6 Alasan Paylater Layak Dipilih Dibandingkan Kartu Kredit. CNBC Indonesia. Retrieved from https://www.cnbcindonesia.com/mymoney/20220721103250-72-357328/6-alasan-paylater-layak-dipilih-dibandingkan-kartu-kredit

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    Wulan, W. (2022). 6 Alasan Konsumen Pilih Belanja Pakai Paylater, Kamu yang Mana? Retrieved from https://cerdasbelanja.grid.id/read/523310099/6-alasan-konsumen-pilih-belanja-pakai-paylater-kamu-yang-mana?page=all

    Xiao, J. J., Tang, C., Serido, J., & Shim, S. (2011). Antecedents and consequences of risky credit behavior among college students: Application and extension of the theory of planned behavior. Journal of Public Policy & Marketing, 30(2), 239-245.

  1. Ajzen, I. (1991). The theory of planned behavior. Organizational behavior and human decision processes, 50(2), 179-211.
  2. Anam, K. (2022). Banyak Fitur Paylater, Gimana Menurut Pakar? CNBC Indonesia. Retrieved from https://www.cnbcindonesia.com/mymoney/20220517180250-72-339618/banyak-fitur-paylater-gimana-menurut-pakar
  3. Angelia, D. (2022). 7 Layanan Paylater Paling Sering Digunakan di Indonesia 2021. Garuda Nyala Fajar Indonesia. Retrieved from https://www.goodnewsfromindonesia.id/2022/01/17/inilah-7-layanan-paylater-paling-sering-digunakan-di-indonesia-2021
  4. Annur, C. M. (2022). Shopee Paylater, Layanan Paylater Paling Banyak Digunakan pada 2021. Databooks. Retrieved from https://databoks.katadata.co.id/datapublish/2022/01/12/shopee-paylater-layanan-paylater-paling-banyak-digunakan-pada-2021
  5. Aulia, V. (2019). Pay Later: Kaum Milenial Makin Konsumtif. Kompasiana. Retrieved from https://www.kompasiana.com/virsa33505/5db92af9097f362695173642/pay-later-kaum-milineal-makin-konsumtif
  6. Bandura, A., & Walters, R. H. (1977). Social learning theory (Vol. 1): Englewood cliffs Prentice Hall.
  7. Brechwald, W. A., & Prinstein, M. J. (2011). Beyond homophily: A decade of advances in understanding peer influence processes. Journal of research on adolescence, 21(1), 166-179.
  8. Brown, B. B., Bakken, J. P., Ameringer, S. W., & Mahon, S. D. (2008). A comprehensive conceptualization of the peer influence process in adolescence. Understanding peer influence in children and adolescents, 13, 17-44.
  9. Dewi, I. R. (2022). Antara Tokopedia, Shopee, Lazada, Aplikasi Mana Jawaranya? CNBC Indonesia. Retrieved from https://www.cnbcindonesia.com/tech/20220606124127-37-344657/antara-tokopedia-shopee-lazada-aplikasi-mana-jawaranya
  10. Fauzia, M. (2021). Perbandingan Bunga PayLater Shopee, GoPay, dan Kredivo. Kompas.com. Retrieved from https://money.kompas.com/read/2021/09/25/142150026/perbandingan-bunga-paylater-shopee-gopay-dan-kredivo?page=all
  11. Gardner, M., & Steinberg, L. (2005). Peer influence on risk taking, risk preference, and risky decision making in adolescence and adulthood: an experimental study. Developmental psychology, 41(4), 625.
  12. Hardhika, R. E. B., & Huda, A. M. (2021). Pengalaman Pengguna Pay Later Mahasiswa di Surabaya. the Commercium, 4(2), 19-32.
  13. Hong, H., Kubik, J. D., & Stein, J. C. (2004). Social interaction and stock?market participation. The Journal of Finance, 59(1), 137-163.
  14. Hornby, A. S. (2000). Oxford advanced learner’s dictionary of current English: Oxford University Press, Oxford.[OALDCE].
  15. Kidwell, B., Brinberg, D., & Turrisi, R. (2003). Determinants of money management behavior. Journal of Applied Social Psychology, 33(6), 1244-1260.
  16. Koropp, C., Kellermanns, F. W., Grichnik, D., & Stanley, L. (2014). Financial decision making in family firms: An adaptation of the theory of planned behavior. Family Business Review, 27(4), 307-327.
  17. LaMorte, W. W. (2019). Behavioral Change Models.
  18. OECD. (2016). OECD/INFE International Survey of Adult Financial Literacy Competencies. Retrieved from Paris: www.oecd.org/finance/OECD-INFE-International-Survey-of-Adult-Financial-Literacy-Competencies.pdf
  19. Purnomo, A. (2021). Analisa Penggunaan E-Money dalam Kehidupan Sehari-hari Masyarakat Indonesia. Retrieved from https://geo.mapid.io/blog_read/5f6b14cb584be65363600169
  20. Putri, V. K. M. (2022). Teori Kognitif Sosial: Pengertian dan Asumsinya. Kompas.com. Retrieved from https://www.kompas.com/skola/read/2022/07/19/100000769/teori-kognitif-sosial--pengertian-dan-asumsinya
  21. Quiserto, R. (2019). Paylater - OVO, Gojek, Traveloka - Mana Terbaik Terpercaya. Duwitmu.com. Retrieved from https://duwitmu.com/pinjaman-online/paylater-ovo-gojek-traveloka-terbaik
  22. Safitri, K. (2021). Survei: Fitur Paylater Makin Diminati Selama Pandemi Covid-19. Kompas.com. Retrieved from https://money.kompas.com/read/2021/06/09/154843126/survei-fitur-paylater-makin-diminati-selama-pandemi-covid-19?page=all
  23. Sugiyono. (2018). Metode penelitian kuantitatif (1st ed.): Alfabeta.
  24. Suryani, T. (2008). Perilaku konsumen: implikasi pada strategi pemasaran. Yogyakarta: graha ilmu, 118.
  25. Syahputra, E. (2022). 6 Alasan Paylater Layak Dipilih Dibandingkan Kartu Kredit. CNBC Indonesia. Retrieved from https://www.cnbcindonesia.com/mymoney/20220721103250-72-357328/6-alasan-paylater-layak-dipilih-dibandingkan-kartu-kredit
  26. Utomo, W. P. (2019). Indonesia Millennial Report 2019: IDN Reserach Institute.
  27. Wareza, M. (2021). Rupanya Ini Bikin Orang Suka Paylater dibanding Kartu Kredit. CNBC Indonesia. Retrieved from https://www.cnbcindonesia.com/market/20210421121033-17-239544/rupanya-ini-bikin-orang-suka-paylater-dibanding-kartu-kredit
  28. Wulan, W. (2022). 6 Alasan Konsumen Pilih Belanja Pakai Paylater, Kamu yang Mana? Retrieved from https://cerdasbelanja.grid.id/read/523310099/6-alasan-konsumen-pilih-belanja-pakai-paylater-kamu-yang-mana?page=all
  29. Xiao, J. J., Tang, C., Serido, J., & Shim, S. (2011). Antecedents and consequences of risky credit behavior among college students: Application and extension of the theory of planned behavior. Journal of Public Policy & Marketing, 30(2), 239-245.