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Exploring the Relationship Between Locus of Control and Financial Behavior of Accounting Student from The Social Construction Theory Approach

Author

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  • Wirawan ED Radianto
  • Baswara Yua Kristama
  • Ika Raharja Salim

Abstract

This research examines the effect of locus control on financial literacy, including financial attitude, financial behavior, and financial self-efficacy. This study used a survey method by sending a questionnaire to the respondent through an enumerator. This study uses a sample, namely students of the accounting study program in Surabaya, Indonesia. A total of 159 questionnaires were processed from distributing 250 questionnaires randomly. This study uses the Partial Least Square data analysis. The result shows that locus of control affects financial attitude, financial behavior, and financial self-efficacy. Financial behavior increases when the respondents show excellent financial knowledge behavior and believe that they can manage for their finances. This investigation confirms that locus of control affects financial behavior. Meaning the role of locus of control is very important to increase financial behavior. This study also found that locus of control can contribute to the theory of social construction. Moreover, social construction theory can predict how individuals act to improve their financial behavior.

Suggested Citation

  • Wirawan ED Radianto & Baswara Yua Kristama & Ika Raharja Salim, 2021. "Exploring the Relationship Between Locus of Control and Financial Behavior of Accounting Student from The Social Construction Theory Approach," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 10, March.
    • Handle: RePEc:bjz:ajisjr:2030
    DOI: https://doi.org/10.36941/ajis-2021-0043
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    References listed on IDEAS

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    1. Zhang, Yin & Lu, Baozhou & Zheng, Haidong, 2020. "Can buzzing bring business? Social interactions, network centrality and sales performance: An empirical study on business-to-business communities," Journal of Business Research, Elsevier, vol. 112(C), pages 170-189.
    2. Kamini Rai & Shikha Dua & Miklesh Yadav, 2019. "Association of Financial Attitude, Financial Behaviour and Financial Knowledge Towards Financial Literacy: A Structural Equation Modeling Approach," FIIB Business Review, , vol. 8(1), pages 51-60, March.
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    Cited by:

    1. Vladimir Ivanov & Elena Nikishina, 2025. "Applying Behavioural Economics to Promote Financial Literate Behaviour: An Overview of Studies," Russian Journal of Money and Finance, Bank of Russia, vol. 84(2), pages 89-112, June.
    2. Vivek Verma & Praveen Singh & Rajesh Tiwari & Dinesh Chandra Pandey, 2025. "Sustainable investing through a gendered lens: the role of locus of control and risk perception," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 30(4), pages 1-16, December.
    3. Nazreen Tabassum Chowdhury & Nurul Shahnaz Mahdzan & Mahfuzur Rahman, 2024. "Beyond Intuition: The Role of Financial Knowledge in Navigating Investments in Emerging Markets," International Journal of Economics and Financial Issues, Econjournals, vol. 14(4), pages 267-281, July.
    4. Mohamad Fazli Sabri & Rozita Wahab & Nurul Shahnaz Mahdzan & Amirah Shazana Magli & Husniyah Abd Rahim & Siti Shazwani Ahmad Suhaimi & Nur Shuhamin Nazuri, 2023. "An enigma of Malaysia’s low-income young adults: Mediation of financial behaviour on financial well-being and locus of control cohesion," PLOS ONE, Public Library of Science, vol. 18(7), pages 1-27, July.

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