FACTORS AFFECTING SAVING BEHAVIOR

AMONG ONLINE GAMERS IN JABODETABEK

By

Dio Julio Sander

ID no. 015201400025

A Skripsi presented to the

Faculty of Business President University

in partial fulfillment of the requirements for

Bachelor Degree in Business Administration

February 2018
 PANEL OF EXAMINERS APPROVAL SHEET

The Panel of Examiners declare that the skripsi entitled “Factors

Affecting Saving Behavior among Online Gamers in

Jabodetabek” that was submitted by Dio Julio Sander majoring in

Business Administration from the Faculty of Business was assessed

and approved to have passed the Oral Examinations on February

2018.

Mr. Adhi Setyo Santoso

Chair-Panel of Examiners

Mr. Ihsan Hadiansah

Examiner I

Dr.Ir. Farida Komalasari, M. Si.

Examiner II

i
 DECLARATION OF ORIGINALITY

I declare that this skripsi, entitled “Factors Affecting Saving

Behavior among Online Gamers in Jabodetabek” is, to the best of

my knowledge and belief, an original piece of work that has not been

submitted, either in whole or in part, to another university to obtain a

degree.

Cikarang, Indonesia, February 2018

Dio Julio Sander

ii
PLAGIARISM DOCUMENT

iii
iv
 CONSENT FOR INTELLECTUAL PROPERTY RIGHT

Factors Affecting Saving Behavior among Online Gamers

Title of Skripsi:
in Jabodetabek

1. The Author hereby assigns to President University the copyright to the

Contribution named above whereby the President University shall have the
exclusive right to publish the Contribution and translations of it wholly or in part
throughout the world during the full term of copyright including renewals and
extensions and all subsidiary rights.
2. The Author retains the right to re-publish the preprint version of the Contribution
without charge and subject only to notifying the University of the Intent to do so
and to ensuring that the publication by the University is properly credited and
that the relevant copyright notice is repeated verbatim.
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been obtained (a copy of any such permission should be sent with this form).
5. The Author guarantees that the Contribution contains no violation of any existing
copyright or other third-party right or material of an obscene, indecent, libelous
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arising from any breach of this warranty.
6. The Author declares that any named person as co-author of the Contribution is
aware of this agreement and has also agreed to the above warranties.
Name: Dio Julio Sander
Date: February 2018

Signature:

v
 ACKNOWLEDGMENT

First of all, I would like to express my gratitude to the God Almighty who always

blessed me during the process of writing this skripsi and blessed me during my

life in University. I am now in the last part of my study in University writing my

skripsi as one of the requirements to complete my undergraduate study. I won’t be

here if not because of His blessing and supports from people during every process.

Here, I would like to thank people who always support me:

1. Firstly, to my family; my father, my mother and my sisters who always

give the support and motivation mentally during my study in university and in the

process of writing my skripsi.

2. To Mrs. Farida Komalasari, M.Si. as my skripsi advisor who has given her

precious time to give feedback, her experience, advices, guidance and support to

finish my skripsi in time.

3. Lecturer of President University for their effort in delivering the

knowledge needed to me in order to finish my skripsi. I am thankful for the

experience and knowledge they mind to share.

4. Mba Lina as the secretary of Business Administration. I am grateful for

her support during university life and in process of writing my skripsi. Also, her

kindness and cheerfulness are the support for me.

5. To Yenny Kaladina for her everlasting support in university life, in the

process of writing my skripsi and personal life.

vi
6. To KMB Ashokavardhana members for the happiness, craziness, and the

love they spread during my university life and during writing my skripsi. Thank

you for all the members of KMB Ashokavardhana; may you all be happy.

7. To WP students: Harry, Azzam, Hanny, Shilla, Yoel, Ando, Angel, Rieke,

Kim, Kedjan, Adam, Jeffrey, Iqbal, Arsy and UV for filling my university life

with joy, stress and laughter; especially Arsy Intan Permatasari and Fitriah

Ramdhani (a.k.a UV) for their full support in helping me writing this skripsi. Also

for fellow BA students that I can’t mention one by one; thank you very much.

8. Special thanks to William my lovely roommate, Awang Aprilian and

Elena Chairul as fellow university friends from Pontianak for their support and the

laughter we shared especially during university life and writing skripsi.

9. To CONN member: Devi Siswani, Felicia Sinyo and Yenny Kaladina for

the support and bullies we shared in university life and witing my skripsi.

10. To NoName, especially Kost Sandang 50 for providing place to have fun

and writing my skripsi. For the support they give indirectly I would like to thank

them.

11. To my friends who help to spread my questionnaires for without them I

couldn’t finish writing my skripsi in time.

12. Also biggest thanks for all the respondents who participate in filling the

questionnaire. Without them I wouldn’t be able to finish my skripsi in time.

Cikarang, Indonesia, February 2018

Dio Julio Sander

vii
 TABLE OF CONTENT

PANEL OF EXAMINERS APPROVAL SHEET ................................................... i

DECLARATION OF ORIGINALITY ................................................................... ii

PLAGIARISM DOCUMENT................................................................................ iii

CONSENT FOR INTELLECTUAL PROPERTY RIGHT .................................... v

ACKNOWLEDGMENT ........................................................................................ vi

TABLE OF CONTENT ....................................................................................... viii

LIST OF APPENDICES ........................................................................................ xi

LIST OF TABLES ................................................................................................ xii

LIST OF FIGURES ............................................................................................. xiii

ABSTRACT ......................................................................................................... xiv

CHAPTER 1 - INTRODUCTION .......................................................................... 1

1.1. Background ................................................................................................1

1.2. Significance of Study Research .................................................................4

1.3. Research Limitation ...................................................................................4

1.4. Organization of Research ...........................................................................5

CHAPTER 2 - LITERATURE REVIEW ............................................................... 6

2.1. Saving Behavior .........................................................................................6

2.2. Financial Attitude.......................................................................................7

2.3. Financial Literacy ......................................................................................8

2.4. Family Influence ......................................................................................10

2.5. Peer Influence ..........................................................................................11

2.6. Research Gap ...........................................................................................12

CHAPTER 3 - METHOD ..................................................................................... 13

viii
 3.1. Theoretical Framework ............................................................................13

3.2. Hypothesis................................................................................................13

3.3. Operational Definition of Variable ..........................................................14

3.4. Instrument ................................................................................................14

3.5. Sampling Design ......................................................................................14

3.6. Validity and Reliability, Respondents’ Profile, Descriptive Analysis and

Inferential Analysis ..................................................................................15

3.6.1. Validity Test .................................................................................... 15

3.6.2. Reliability Test ................................................................................ 15

3.6.3. Descriptive Analysis ....................................................................... 15

3.6.4. Inferential Analysis ......................................................................... 16

CHAPTER 4 - RESULT ....................................................................................... 17

4.1. Validity and Reliability Test ....................................................................17

4.1.1. Validity Test .................................................................................... 17

4.1.2. Reliability Test ................................................................................ 19

4.2. Respondents’ Profiles ..............................................................................19

4.3. Descriptive Analysis ................................................................................21

4.3.1. Financial Literacy............................................................................ 21

4.3.2. Family Influence ............................................................................. 22

4.3.3. Peer Influence.................................................................................. 22

4.3.4. Financial Attitude ............................................................................ 23

4.3.5. Saving Behavior .............................................................................. 24

4.4. Inferential Analysis ..................................................................................25

4.5. Discussions ..............................................................................................26

CHAPTER 5 - CONCLUSION ............................................................................ 29

5.1. Hypothesis answer ...................................................................................29

ix
 5.2. Future Recommendation ..........................................................................29

REFERENCES...................................................................................................... 31

APPENDICES ...................................................................................................... 35

x
 LIST OF APPENDICES

Appendix 1. Questionnaire Form .......................................................................... 35

Appendix 2. Respondents’ Profile ........................................................................ 44

Appendix 3. Respondents’ Responses .................................................................. 53

xi
 LIST OF TABLES

Table 3.1 Operational Definition of Variable ....................................................... 80

Table 4.1 KMO and Barlett’s test Result .............................................................. 83

Table 4.2 Dependent Variable Communalities Result .......................................... 83

Table 4.3 Financial Attitude Communalities Result ............................................. 83

Table 4.4 Independent Variable Communalities Result ....................................... 84

Table 4.5 Total Variance Explained Independent Variable .................................. 85

Table 4.6 Total Variance Explained Financial Attitude........................................ 86

Table 4.7 Total Variance Explained Independent Variable .................................. 86

Table 4.8 Component Matrix of Independent Variable ........................................ 87

Table 4.9 Component Matrix of Financial Attitude .............................................. 88

Table 4.10 Component Matrix of Saving Behavior .............................................. 88

Table 4.11 Reliability Test Result ......................................................................... 89

Table 4.12 Financial Literacy Data Summary ...................................................... 89

Table 4.13 Family Influence Data Summary ........................................................ 90

Table 4.14 Peer Influence Data Summary ............................................................ 91

Table 4.15 Financial Attitude Data Summary....................................................... 92

Table 4.16 Saving Behavior Data Summary ......................................................... 93

Table 4.17 Model Fit of Structural Model ............................................................ 94

Table 4.18 Regression Weights............................................................................. 94

xii
 LIST OF FIGURES

Figure 1.1 Overlap PC/Laptop & Mobile Gaming................................................ 96

Figure 1.2 Indonesia's PC and Laptop Active Online Gamers ............................. 96

Figure 1.3 Indonesia’s Telkomsel Users that Play Online Games ........................ 97

Figure 3.1 Theoretical Framework ........................................................................ 97

Figure 4.1 Respondents' Gender Chart ................................................................. 98

Figure 4.2 Respondents' Age Chart....................................................................... 98

Figure 4.3 Respondents' Domicile Chart .............................................................. 99

Figure 4.4 Respondents' Working Status Chart .................................................... 99

Figure 4.5 Respondents' Profession Chart .......................................................... 100

Figure 4.6 Respondents' Monthly Income Range Chart ..................................... 100

Figure 4.7 Result of Structural Equation Modeling (SEM) ................................ 101

xiii
 ABSTRACT

Purpose - Games, especially digital online games in both device PC and mobile

phone are in its peak of developing and growing. Along with that, the numbers of

gamer is significantly increase, from every range of age and both man and

women. Data in 2016 shows that 6 million citizens of Indonesia are active online

gamers and 15 million of citizen of Indonesia are passive online gamers.

Contradicting the growth of gamers, Indonesians intention to save is low

compared to other countries in ASEAN. Considering this phenomena, this paper

tries to investigate the factors that affects saving behaviour of online gamers.

Design/methodology/approach - 41 items instrument was distributed to online

gamers in Jabodetabek. Demographic variables were age, gender, occupation,

domicile and monthly income. Finally, the analysis was performed on 218

responses. The research is a quantitative research, using Structural Equation

Model (SEM).

Findings– Research found financial literacy and financial attitude determinants to

be significant in influencing saving behaviour of online gamers in Jabodetabek

area.

Originality/value - Authors believe that this is the first study in Indonesia using

this framework with online gamers as its object of study.

Keywords: online gamers; saving behaviour; financial attitude; family influence;

financial literacy

xiv
 CHAPTER 1

INTRODUCTION

1.1. Background

Saving means the act of minimizing spending from one’s income. The remaining

of spent income, which is unspent, is called savings (Achar, 2012). People leave

some of their income as insurance for unexpected incidents or unwanted case and

as an investment to ensure they have the sufficient resources, in this case fund to

support their living later (Putri S, 2017). Insecurity of future force people to be

ready anytime for anything might happen. Those insecurities could be

catastrophes, inflation, health, even weather and many others. Bank Indonesia in

their recent report on July 2017 state that the inflation rate of Indonesia on June is

0.69% which is lower compared to the average inflation rate in three last year on

Eid al-Fitr: 0.85% (Bank Indonesia, 2017). Catastrophe may come whenever

nature would. Indonesia, especially Bali recently faced the eruption of Agung

Mountain. Two cases before shows the need of preparation to encounter

uncertainty and insecurity in future.

It is undeniable truth that every person has to save. One of the main reason to save

is the increasing price of most needs are increasing from time to time (Gloria,

2017), not to mention if one owns family. Indonesia as the world’s top 5 nation

with largest population, with 262 million people as in July 2017 (Oda, 2017) is

also one of the world’s most consumptive nation (Oktavira, 2016). This fact

shows that saving is indeed a must for Indonesia people.

1
In 2016, OJK (Otoritas Jasa Keuangan) encourage people to save. OJK conduct

seminar and saving campaign to boost up people’s interest and awareness towards

saving and to socialize about financial instruments. OJK release some new

products of saving to increase financial inclusiveness such as: student saving, non-

office financial service, multi funds, and micro-finance: network program for

fisherman, etc. (Nisaputra, 2016). Those information shows that Indonesia citizen

is lack of awareness and intention to save.

In 2016, Indonesia’s saving to Gross Domestic Product (GDP) ratio was 34.8%

which is lower than other Southeast Asia countries: Philippine 46% and Singapore

49%. Next, household saving ratio of Indonesia citizens in 2016 was 8.5%, it

shows that people have yet save that much. The lower economy class people save

5.2% of their income and high economy class people save only 12.60% of their

income. The rate shows that Indonesia citizens save money lesser than how it

could be. Next, OJK mention that citizens of Indonesia are still not familiar with

saving, the data shows only 19% of total citizen in Indonesia that is above the age

of 15 has a bank account (Dwiantika, 2016).

Online game has spread out like virus that is played by people regardless of their

age and gender. According to survey held by NewZoo in 2016 in Southeast Asia

shows that Indonesia gamer who plays more than once a month is in the second

place with Vietnam (61%) after Thailand with 2% difference and Indonesia is the

top rank for the number of gamers who play in both PC/laptop and mobile phone

with 46% (From Mobile To PC Games: The Big Screen Opportunity In Southeast

Asia, 2016). The chart could be seen in Figure 1.1.

Figure 1.1 Overlap PC/Laptop & Mobile Gaming

2
Based on another survey conducted by NewZoo on June 2017, number of male

online gamers (PC and Laptop) is dominating with 56% of 47.3 million total

online gamer in Indonesia. Then, out of the total online gamers in Indonesia, 47%

of them are in the age of 21-35 years old which actually is the age where people

are trying to work as hard as possible to earn and save money. In other devices;

mobile phone, the survey of Telkomsel users conducted by NewZoo shows that,

mobile phone gamers are 51% (NewZoo, 2017). Please refer to Figure 1.2 and

Figure 1.3.

Figure 1.2 Indonesia's PC and Laptop Active Online Gamers

Figure 1.3 Indonesia’s Telkomsel Users that Play Online Games

According to Latifa (2017), playing online game may results in decreasing one’s

performance, wasting their time, increase possibility of having disease, wasting

their money and indirectly develop extravagant habit. In an interview in 2016,

students admitted that they spend more 600 thousand rupiah a month for playing

online game while their friend would go to internet café for playing online game

after school in the afternoon (Prakasa, 2016).

Thus, to investigate factors that affecting saving behavior of online gamers in

Jabodetabek area is why this study is conducted. This study is made to answer

several questions of do family influence, peer influence, financial literacy and

financial attitude influence saving behavior; also does financial literacy influence

financial attitude.

3
The objectives of this study is to know how significant is the influence of family

influence, peer influence, financial literacy and financial attitude toward saving

behavior; also financial literacy towards financial attitude.

1.2. Significance of Study Research

1. For Online Gamers

This research is expected to help online gamers to realize about how important

saving is and to know more about finance and financial instruments. Hopefully,

online gamers would be able to develop their personal saving.

2. For Financial Institution

This research is expected to help financial institutions as a reference to develop

their product and marketing strategy in penetrating the market of young people.

Researcher hopes that financial institutions could engage young people to save

more though one of the products they provide.

3. For Future Research

This research can be a reference for further research regarding this kind of topic. It

will provide the future research a new point of view about saving behavior. For

better result, the researcher recommends the future research to widen the scope

and add more variables of analyzing.

1.3. Research Limitation

To specify the research, researcher set several limitations, such as: people who are

an online gamer both in PC or mobile phone, region limitation in Jabodetabek

4
(Jakarta, Bogor, Depok, Tangerang, and Bekasi) area and age limitation below the

age of 31.

1.4. Organization of Research

Researcher organizes this study into 5 chapters. First chapter is the introduction of

this research which is talking about the background of the study, significance of

study, research limitation and organization of research. The second chapter;

Literature Review is explaining the definition of each variables used in the study,

its relation, and research gap. Next, Chapter 3; Methods is containing the methods

used by researcher in this study including research framework, sampling design,

questionnaire, hypothesis, and analysis methods. Then, Chapter 4 will be

discussing about the result of the surveys done by researcher to solve the

questions in the study. Lastly, Chapter 5 is the conclusion of the answer of

hypothesis of this study and the recommendation based on the result of the study

in Chapter 4.

5
 CHAPTER 2

LITERATURE REVIEW

The main model of the framework is based on the Theory of Planned Behavior.

The theory was stated by Ajzen in 1991 (Jamal, Ramlan, Karim, Mohidin, &

Osman, 2015; Kautonen, Gelderen, & Fink, 2015; Gorgievski, Stephan, Laguna,

& Moriano, 2017; Thung, Kai, Nie, Chiun, & Tsen, 2012), it posits that intention

drives people to perform some behaviors. There are 3 main determinants of

intention: attitude, perceived behavior control and subjective norms. Attitude is

defined as positive or negative feelings towards the behavior while perceived

behavior control refers to perception of an individual on how well one could

perform the behavior. Subjective norms refers to how the environment influenced

one’s behavior, which in this study subjective norms is describe as social

influence; elaborated to two variables: family influence and peer influence. On the

other hand, attitude is represented by financial attitude variable and perceived

behavior control will be represented using financial literacy variable.

2.1. Saving Behavior

According to Subhamv (2016), saving contains various explanations and wide

meaning; he explained the definition with two approaches which are in economic

and psychological term. In economic term, saving means the remaining income

one have after deducted by consumption of a certain period of time, while in

psychological term, saving means the process of not using money for a specific

6
period of time. As conclusion, saving behavior is a set of conceptions of future

needs, saving decision and saving action.

Firmansyah (2014) in his literature mention the factor that affect saving behavior,

which are parents education; he stressed that children biggest foundation is family

education for it was mostly everything child knows that includes about saving

behavior. However, other research mention another variables that affect saving

behavior which is peer influence, she stated that one’s attitude is easily influenced

by peer pressure when it comes to decision making (Alwi, Hashim, & Ali, 2015).

In addition, research in Canada found that one’s decisions on saving and spending

are greatly depends on people around them (Alwi, Hashim, & Ali, 2015).

According to Jamal, et. al. (2015), being financial literate would improve one’s

financial outcomes (saving or investment). In addition, they added that by having

financial knowledge would trigger a positive attitude that will lead to a better

behavior such; making smart financial decisions. Lastly, the measurement of

saving behavior is the reaction or response of one facing the possible risk in life

(Kapounek, Korab, & Deltuvaite, 2015).

2.2. Financial Attitude

Financial attitude is defined as a situation, idea, and judgment about finance

(Herdjiono & Damanik, 2016). While according to Potrich, et. al. (2016), it is

defined as a set of feeling, information and conceptions about learning, that

resulting in the preparedness to respond favorably.

Attitudes are shaped by the environmental interaction such as: family, friends,

school, country, media, and all other shapes of interaction (Jorgensen, Financial

7
Literacy of College Students: Parental and Peer Influences, 2007). Jamal, et. al.

(2015) stated that being knowledgeable about financial will trigger one’s attitude

to be a positive financial behavior. Moreover, Jorgensen (2007) and Jamal, et. al.

(2015) stated that financial knowledge and financial attitudes proven to have a

significant influenced, for instance: the effect of financial courses in knowledge,

behaviors and attitudes improvements. Another literature stated that contribution

of parents in delivering financial education and to be the role model is essential to

encourage positive financial attitudes and behavior (Shim, Barber, Card, Xiao, &

Serido, 2010). Therefore, factors that affect financial attitude are the education or

more to level of financial knowledge.

Herdjiono, et. al. (2016) in her literature stated that there is relation of financial

attitudes and level of financial problem. Thus, level financial attitudes are shown

by how one faces their financial issues. She also mentions that financial behavior

developed from financial attitudes. Then, thoughtless people would likely have a

bad financial behavior when facing financial problems. In conclusion, financial

attitude is measured by how people treat finance or how people face financial

issues.

2.3. Financial Literacy

Before explaining about financial literacy, it is better to know that financial

literacy is different with financial education or financial knowledge though, it is

often been used as synonym. The three are conceptually different; financial

literacy has deeper concept compared to the rest (Potrich, Vieira, & Mendes-Da-

Silva, 2016). Financial literacy could be defined as one’s ability to use their

understanding about how finance work to make effective and informed financial

8
decision (Dolphin, 2012). Potrich, et. al. (2016) stated that one could have

financial knowledge, but to be categorized as financial literate, one should have

the ability of how to apply it in making decision. Because they stated only having

financial knowledge is not enough to be able to manage finance effectively, same

goes for financial information, having financial information doesn’t guarantee

someone will be able to manage finance well.

Alwi, et. al. (2015) in her literature found that majority of business students have

more knowledge compared to non-business students; it indirectly shows that

people with low level of financial literacy is not majoring in business. Jorgensen

(2007) in his research about financial literacy found that business students are

more knowledgeable compared to non-business students on investments, it also

applies to married and unmarried people; married people shows more knowledge

of financial compared to unmarried people, and results shows that financial course

is essential to be financial literate. Jamal, et. al. (2015) also state that without

sufficient financial knowledge, one would make more incorrect financial decision.

Therefore, the factors that affect financial literacy are level education that focuses

on finance; people need to understand well enough about finance to be financial

literate.

According to Jorgensen (2007), financial literacy has two measurements which

are: understanding and application. Understanding means the level of financial

knowledge of one, while application refers to how well one could manage one’s

personal financial.

9
2.4. Family Influence

Family can be described as a nuclear family and extended family. Nuclear family

is often referred to a husband and wife and their children whilst extended family is

defined as the “interactive and mutually supportive individuals consist of kin and

non-kin members of different generations that live together in the same household

or related households in different location (Lien, Westberg, Stavros, & Robinson,

2017). However, Firmansyah (2014) defines family as the first environment of

every human being while they are also the first teacher of them.

Children keep their families or parents teaching the most in their mind because

parents provide them with the very basic knowledge (Williams, 2010). Williams

(2010) also added that children follow parents as their guidance from the first time

they were born till they leave home. In addition, Choi (2016) found that parents

from different socioeconomic backgrounds support activities that help children

development. It indicated that parents would encourage their children to develop

themselves even after family give the basic education. Williams (2010) in her

literature stressed about the need of family to realize its role in conveying the

knowledge (Williams, 2010). Based on Choi (2016) and Williams (2010), show

that parent’s methods of teaching and communication are factors that affect how

well the influence of family.

Jamal, et. al. (2015), in his journal stated that they acknowledged parent’s role as

the key to the children’s financial socialization. Parents influence the children’s

financial behavior development greatly; they become the role model for their

children in managing their financial affairs. Likewise, Williams (2010) mentions

that from children were born till they leave the household, they learn and look to

10
their parents as a guidance and teacher that knows everything. Therefore, children

imitate and follow parental figures. In addition to Williams (2010) and Jamal, et.

al. (2015), Thung, et. al. (2012) mentioned that family influence is measured by

how well the saving behavior of the children.

2.5. Peer Influence

According to Cambridge Dictionary, peer means one who is in the same age or

has the same social degree as the other people in the group (Cambridge

Dictionary, 2017). Based on literature of Jamal, et. al. (2015), peer influence

could be defined as the power of group or individual with same age or the same

social degree to change the behavior of others (individual or group).

According to Alwi, et. al. (2015), young people are easily influenced by peers.

Thung et. al. (2012), in his literature stated that the behavior of one could be

different depends on the society or group of people one meet, for instance: one in

a group with more adult and academic oriented and one in a group which more to

having fun or peer-oriented group. Moreover, they find that one as a member as a

group would likely have the similar environment that will influence their

behavior. Jamal, et. al. (2015) mention a similar statement that people with similar

preferences would tend to be in a same group that in the end will create a relation

between group and one’s behavior. Thus, one’s social life or surrounding peers is

the affecting factor of peer influence.

Alwi, et. al. (2015) stated that closer peers proven to have significant influence on

one’s attitude or behavior in both social distance and physical. Thung, et. al.

(2012) found that there is a weak relation between peer influence and retirement

11
saving behavior. Meanwhile, Jamal, et. al. (2015) mention that peer influence has

an important part in encouraging retirement savings decision. In conclusion, peer

influence could be measured by the changes in one’s behavior, attitude, habits or

decisions affected by interactions with peers.

2.6. Research Gap

Thung, et. al. (2012) in their study investigates about determinants of saving

behavior with similar variables but without financial attitude as the middle

variable between financial literacy and saving behavior. Shim, et. al. (2010) and

Jorgensen (2007) have the similar object of study which is college students and

also discussing about family contribution to their topic. However, Shim, et. al.

(2010) discusses about family, work and education influence financial

socialization while Jorgensen (2007) discuss about peer and family influence to

financial literacy of college students. In addition, the subject of this research is

online gamer in Jabodetabek area with age limitation of lower than 31 years old

while the other researchers mostly discuss about college students (Alwi, Hashim,

& Ali, 2015; Firmansyah, 2014; Jorgensen, Financial Literacy of College

Students: Parental and Peer Influences, 2007; Thung, Kai, Nie, Chiun, & Tsen,

2012; Shim, Barber, Card, Xiao, & Serido, 2010). Thus, those reasons are the

differences of this study compared to others.

12
 CHAPTER 3

METHOD

In this chapter, researcher will explain about how the research is conducted, the

methods and how researcher analyzes the data.

3.1. Theoretical Framework

The research is conducted based on the framework; refer to Figure 3.1. The

framework is created to investigate factors that affect saving behavior. It is

approached from the behavior aspect; with the basis of the theory of planned

behavior and referring to the framework of journal by Jamal, et. al. (2015).

Figure 3.1 Theoretical Framework

Family influence (FI), peer influence (PI) and financial literacy (FL) are the

independent variables of the framework which influenced the dependent variable;

saving behavior (SB). Then, financial literacy influence financial attitude which is

the mediating variable. Lastly, financial attitude influences saving behavior.

3.2. Hypothesis

From the theoretical framework, researcher develop hypothesis for the paper:

H1: Family influence (FI) influences saving behavior (SB).

H2: Peer influence (PI) influences saving behavior (SB).

H3: Financial literacy (FL) influences saving behavior (SB).

H4: Financial literacy (FL) influences financial attitude (FA).

H5: Financial attitude (FA) influences saving behavior (SB).

13
3.3. Operational Definition of Variable

Please refer to Table 3.1 Operational Definition of Variable.

Table 3.1 Operational Definition of Variable

3.4. Instrument

To gather the data, questionnaire is used. The questionnaire is composed based on

the framework and consist of total 41 indicators. The questionnaire contains

statements that would help researcher to measure the variables. 5-level Likert

Scale is used in this research which described by strongly disagree (1) to strongly

agree (5). In the end of the process of gathering the data, those data is examined

by using Structural Equation Model (SEM) and analyze using statistical software.

Questionnaire is prepared in online format by using Google Form and is used to

gather the data. The questionnaire is structured into 2 parts; the first part to find

out respondent’s profile such as: age, occupation, gender, monthly income, etc.

and the second part is to gather data for each variables. The questionnaire is

attached in Appendix 1.

Appendix 1. Questionnaire Form

3.5. Sampling Design

This research is a quantitative research which is using primary data. The

population of this research is online gamers in Jabodetabek area. Then, sample is a

group of targets which represent population (Sekaran, 2003). According to

Ferdinand (2004), the minimum representative respondents are the amount of

indicators times 5 which is 41 x 5 = 205 samples. This research has gathered 218

valid respondents which have reach the minimum respondents. Researcher is

14
using non-probability sampling which is snowball-purposive sampling in

spreading the questionnaire through LINE chatting application.

3.6. Validity and Reliability, Respondents’ Profile, Descriptive

Analysis and Inferential Analysis

3.6.1. Validity Test

Validity test reflects how much the difference found in the measuring instrument

shows the true difference among being tested. In this case researcher is using

several criteria (Field, 2005):

1. KMO value > 0.5 and Barlett’s test value has to be lower than 0.05

2. Communalities value has to be higher than 0.5

3. Total Variance Explained Cumulative has to be higher than or equal to

60% and the component has to be equal to variable tested.

4. Component Matrix has to be higher than 0.5

3.6.2. Reliability Test

Reliability is the indication of the stability and consistency of the how instrument

measures the concept, also helps researcher to assess the goodness of a measure.

To measure the reliability of a measure, the indicator that researcher use is

Cronbach’s Alpha, with criteria of higher than 0.6 (Hair, Black, Babin, &

Anderson, 2010).

3.6.3. Descriptive Analysis

In this research, researcher used 5 variables which are Family Influence, Peer

Influence, Financial Literacy and Saving Behavior. Those variables are

15
represented into 41 statements. Researcher analyzed the frequencies of the

respondents’ answer and will be presented it in Tables of summary of responses.

Please refer to Appendix 2 and Appendix 3 for the raw data of respondents

answer.

Appendix 2. Respondents’ Profile

Appendix 3. Respondents’ Responses

3.6.4. Inferential Analysis

Since researcher is using Structural Equation Modeling (SEM), the model is being

examined by using statistical software. Next, researcher analyzes the relation

between variables by drawing path diagram. Only indicators that passed the

reliability and validity test will be used in making the model.

Then, the fitness of model is assessed with several criteria such as: p-value (<

0.05), NFI (0 < x < 1), TLI 0 (< x < 1), CFI (> 0.90) and RMSEA (0.05 < x <

0.08) (Hair, Black, Babin, & Anderson, 2010). According to Hair, et. al. (2010),

the model testing results has shown that the model passed 4 criteria which mean

that the model can be considered as Model Good Fit. Lastly, each hypothesis is

tested with the criteria of p-value below 0.05 to be considered significant.

16
 CHAPTER 4

RESULT

4.1. Validity and Reliability Test

4.1.1. Validity Test

Researcher tested the validity and reliability of the data using the criteria as

mentioned in Chapter 3.1. First criteria are KMO Test higher than 0.5 and

Barlett’s test below 0.05. All variables’ KMO values consecutively starting with

variable X, Y, and Z are 0.819, 0.652, and 0.782 after removing several indicators

(FL4, FL5, FI5, FI6, PI1, FA1, FA2, FA3, FA4, FA5, FA6, FA8, FA10, FA11,

SB1, SB2, SB3, SB5, SB8 and SB10). Then, Barlett’s test of variable X, Y, and Z

all are 0.000 which means that the result is accepted. Hence, all variable has

passed the first criteria; the summary of KMO and Barlett’s test result is presented

in Table 4.1.

Table 4.1 KMO and Barlett’s test Result

Next, the second criteria is Communalities value has to be higher than 0.5. Saving

Behavior indicators has passed the criteria; consecutively with value of 0.643,

0.682, 0.578 and 0.586. The Communalities result of dependent variable (Saving

Behavior) could be seen in Table 4.2. Financial Attitude indicators also passed the

criteria with the value consecutively 0.729, 0.745 and 0.531. The result could be

seen in Table 4.3. Lastly, independent variables also has communalities above 0.5;

Financial literacy indicators with value: 0.649, 0.676, 0.690, 0.634 and 0.543;

17
Family Influence indicators with value consecutively 0.640, 0.712, 0.676 and

0.732 and Peer Influence with value 0.512, 0.560, 0.516, 0.747 and 0.624

respectively. Please refer to Table 4.4 for independent variable Communalities

result.

Table 4.2 Dependent Variable Communalities Result

Table 4.3 Financial Attitude Communalities Result

Table 4.4 Independent Variable Communalities Result

Validity test third criteria are Total Variance Explained Cumulative has to be

higher than or equal to 60% and the component has to be equal to variable tested.

The result of the test shows that value of Total Variance Explained Cumulative of

independent variable (3 variables) and 14 indicators is 63.647% which means it

passed the criteria. Financial Attitude cumulative value of total variance explained

is 66.876%. Then, Saving Behavior’s value is 62.222%. Thus, both value of

Financial Attitude and Saving Behavior passed the criteria. Please refer to Table

4.5 (Independent Variable), Table 4.6 (Financial Attitude) and Table 4.7 (Saving

Behavior) for the result of Total Variance Explained Cumulative.

Table 4.5 Total Variance Explained Independent Variable

Table 4.6 Total Variance Explained Financial Attitude

Table 4.7 Total Variance Explained Independent Variable

18
 Last criteria is Component Matrix has to be higher than 0.5. Table 4.8 shows the

result of Component Matrix of 3 independent variables with 14 indicators and all

the values exceed 0.5, respectively, Financial Literacy (0.788, 0.789, 0.829, 0.789

and 0.710), Family Influence (0.765, 0.778, 0.766 and 0.848) and Peer Influence

(0.604, 0.693, 0.704, 0.854 and 0.756). Then, Financial Attitude Component

Matrix result is shown in Table 4.9 with 3 indicators passing the criteria (0.854,

0.863 and 0.729). Table 4.10 contains result of Component Matrix for Saving

Behavior (4 indicators) respectively with value of 0.802, 0.826, 0.760 and 0.765.

Table 4.8 Component Matrix of Independent Variable

Table 4.9 Component Matrix of Financial Attitude

Table 4.10 Component Matrix of Saving Behavior

4.1.2. Reliability Test

According to Hair, et. al. (2010), to measure the reliability of a measure, the

indicator that researcher use is Cronbach’s Alpha, with criteria of higher than 0.6.

Table 4.11 shows that all Cronbach’s Alpha values of all 5 variables are reliable;

respectively, family influence (0.836), peer influence (0.818), financial literacy

(0.854), financial attitude (0.737) and saving behavior (0.797).

Table 4.11 Reliability Test Result

4.2. Respondents’ Profiles

Researcher has succeeded to gather 218 valid with the criteria of respondents are

online gamers; that includes both in mobile phone and PC who are living in

19
Jabodetabek are. The respondents’ demographics information consists of several

categories such as: gender, age, domicile, occupation, working status and monthly

income amount.

Figure 4.1 shows the data of female and male with percentage of 41.3% (90

respondents) and 58.7% (128 respondents). As for the age of respondents, it is

mostly dominated by the respondents between 20 and 30 years old with the

percentage of 64.2% (140 respondents), followed by respondents below the age 20

years old with the percentage of 33.9% (74 respondents). Please refer to Figure

4.2 to see Respondents’ Age pie chart.

Figure 4.1 Respondents' Gender Chart

Figure 4.2 Respondents' Age Chart

The data came from gamers around Jakarta, Bogor, Depok, Tangerang and Bekasi

(Jabodetabek) area. Most respondents live in Jakarta (109 respondents), followed

by Bekasi with 82 respondents, Tangerang with 14 respondents, Bogor with 11

respondents and 2 respondents from Depok. Respondents’ Domicile pie chart can

be found in Figure 4.3.

Figure 4.3 Respondents' Domicile Chart

Out of the whole data, only 28.9% (63 respondents) are working while the rest of

the data are not working. In addition, 176 respondents (80.7%) are students, 27

respondents are officer, 6 respondents are entrepreneur, 4 respondents are

freelancer and the other 5 respondents have different occupation. Respondents’

20
Working Status pie chart can be found in Figure 4.4 and Respondents’ Profession

pie chart can be found in Figure 4.5.

Figure 4.4 Respondents' Working Status Chart

Figure 4.5 Respondents' Profession Chart

Moreover, precisely 50% (109 respondents) of the respondents earned monthly

income below 2 million, followed by 28.9% (63 respondents) respondents with

monthly income between 2 million and 3 million, 13.3% (29 respondents) of the

respondents earned more than 5 million, 10 respondents with monthly income

between 3 million and 4 million and 7 respondents with monthly income between

4 million and 5 million. The chart presenting range of monthly income can be

found in Figure 4.6. Raw demographic data of respondents can be found in

Appendix 2.

Figure 4.6 Respondents' Monthly Income Range Chart

Appendix 2. Respondents’ Profile

4.3. Descriptive Analysis

4.3.1. Financial Literacy

Table 4.12 shows the summary of financial literacy responses data summary. As

shown, total 63.3% respondents agree that they understand financial terms and

concept. Then, they who agree that they understand financial instruments (savings

and deposits) are 150 (68.8%) respondents at total, while those who agree that

they understand to invest well are 122 (56%) respondents in total. Next, in total

there are 153 (70.2%) respondents agree that financial information or advice

21
influence their saving decision to deliberately save and total 157 respondents

agree that they can use combinations of skills, resources and knowledge to make

financial decisions. However, only 57.3% (125) respondents agree that they can

manage their money without difficulty despite the high numbers of respondents

agree to 2 previous indicators. Lastly, 61.9% (135) respondents agree that they

can make informed effective financial choices.

Table 4.12 Financial Literacy Data Summary

4.3.2. Family Influence

As for family Influence variable responses data summary, could be seen in Table

4.13. The table shows that total 137 (62.8%) respondents agree that they follow

their parents’ example in managing their money. However, only total 46.3% (101)

out all respondents agree that they always discuss about managing money with

their parents. Next indicator also has total agree respondents lower than 50%; in

total, 48.2% respondents agree that they find it helpful when their parents control

their spending. However, total 60.6% (132) respondents agree that they follow

their parents’ advice in saving their money. Also, 153 (70.2%) respondents agree

that they save money to help their parents lessen the spending on them. Lastly,

most of respondents agree that they were taught to save for when they were a

child; with total 82.1% (179) respondents.

Table 4.13 Family Influence Data Summary

4.3.3. Peer Influence

In Table 4.14, is shown the peer influence variable responses data summary. As in

the table, most of the respondents (total 74.3%; 162 respondents) agree that they

22
know that their friends have a saving account. However, only total of 40.8% (89)

respondents agree that they always compare the amount of saving and spending

with their friends. Then, total 43.1% (94) respondents agree that they discuss with

their friends about advantages and disadvantages of savings. Next, with more than

50% of all respondents; precisely 54.6% (119) respondents agree that they always

involve in money spending activities with friends. But, only 98 (45%) respondents

out of all respondents agree that their friends and peers have been the greatest

influence on how they make financial decisions. Lastly, overall only 42.7% (93)

respondents agree that their friends encourage them to save.

Table 4.14 Peer Influence Data Summary

4.3.4. Financial Attitude

89% (194) out of all respondents agree that saving is important. Most of the

respondents (total of 84.4%; 184 respondents) agree that they are eager to improve

their financial knowledge. In addition, total 78.4% (171) respondents agree that

they are interested in saving instrument (saving and investment). Also, total of

62.8% (137) respondents are agree that they enjoy talking about money

management issues and total 58.3% (127) respondents agree that they enjoy and

having interest in reading about money management.

Total 61.5% (134) respondents agree that they are confident about their money

management skill and total 66.1% (144) respondents agree that they feel in control

of their financial situation. Moreover, total of 69.3% (151) respondents agree that

they feel they could use their future income to achieve their financial goals and

23
67.9% (148) of the total respondents agree that they are capable of handling their

financial future.

The data shows that total of 61.5% (134) respondents agree that they spend less

than their income. However, the data also shows that total 43.6% (95) respondents

agree that they are uncertain about where their money is spent. And total of 58.3%

(127) respondents agree that they plan and implement regular saving or

investment program. The responses data summary can be found in Table 4.15.

Table 4.15 Financial Attitude Data Summary

4.3.5. Saving Behavior

Total of 88.1% (192) respondents have a saving account and out of all

respondents, 84.9% (185) respondents agree that they save for future purpose.

Moreover, total 81.7% (178) respondents are that they save to achieve a certain

goals.

The data shows that overall 84.4% (184) respondents compare prices before

buying thing in order to save and total 78.4% (171) respondents often consider the

real necessity of item before they buy thing in order to save. In addition, total

65.1% (142) respondents always save by following personal planned monthly

budget. Also 79.8% (174) respondents agree that they plan to reduce their

expenses in order to save. And total 78.4% (171) respondents agree that they

increase their savings when they receive a higher salary.

In contrary of the number of respondents who have saving account, total 51.4%

(112) respondents agree that they have several type of saving (investment,

24
savings, deposits, etc.). Moreover, numbers of respondents agree that they have

emergency account are below 50%; precisely 45.4% (99) respondents. Please

refer to Table 4.16 to find the data summary.

Table 4.16 Saving Behavior Data Summary

4.4. Inferential Analysis

Researcher conducted Structural Equation Modeling (SEM) using 5 variables which

are Family Influence (FI), Peer Influence (PI), Financial Literature (FL), Financial

Attitude (FA) and Saving Behavior (SB). The relations of each variable are as

follows: FI, PI and FL directly influence SB, also FL to FA and FA to SB. This model

is tested and later analyzed using statistical software. Please refer to Figure 4.7 for

the result of Structural Equation Modeling (SEM).

Figure 4.7 Result of Structural Equation Modeling (SEM)

Next, researcher test the model fit based on the criteria mentioned in Chapter

3.7.4. According to Hair, et. al. (2010), p-value has to be lower than 0.05, while

the result shows 0.000 which means that the value has passed the criterion. The

next criterion is NFI with value closer to 1 is considered good fit; the result value

is 0.850 which means it passed the criterion. Then, TLI also with value closer to 1

is considered good fit; the result shows 0.906 which means the value passed the

criterion. Next, CFI has to be higher than 0.90 and the result value is 0.922 that

means the criterion is passed. Lastly, RMSEA value has to be in between 0.05 and

0.08 while the result value is 0.064. According to Hair, et. al. (2010), the

requirement for a model to be considered fit is to have 4 criteria passed.

25
Therefore, the model is considered as good fit. Please refer to Table 4.17 for the

model fit result.

Table 4.17 Model Fit of Structural Model

As is shown in Table 4.18, researcher found that two out of five hypotheses are

rejected. The influence of Family Influence towards Saving Behavior (H1) and

Peer Influence influences Saving Behavior (H2) are rejected. FI towards SB is

proven to have no significant relation since the p-value (0.544) has exceeded the

criteria (p-value < 0.05); same goes for PI towards SB, the p-value (0.277)

exceeded the criteria. However, Financial Literacy – Financial Attitude – Saving

Behavior relation is accepted; Financial Literacy influences Saving Behavior (H3)

is accepted; Financial Literacy influences Financial Attitude (H4) is accepted and

so does Financial Attitude influences Saving Behavior (H5).

Table 4.18 Regression Weights

4.5. Discussions

This part will be discussing about each hypothesis result. Based on hypothesis

testing result, H3, H4, and H5 is accepted while H1 and H2 is rejected. First, H1;

Family Influence influences Saving Behavior is rejected. Which means Family

Influence does not significantly influence Saving Behavior. It is not in line with

the finding of Jamal, et. al. (2015) who found that family influence greatly

influence saving behavior. Also, Jorgensen (2007) findings is not in line with the

result; he stated that one mostly learn through one’s interaction with the

surroundings, specifically those where one spend the most of time with in the

early life; specifically family. However, Williams (2010) found that some parents

26
are not comfortable to talk to their children regarding financial matters. She

mentioned that some parents prevent themselves from discussing financial matters

to children because they don’t want to stress the children or they felt children

won’t understand it. Hence, one of the reason family is not significant could be

family’s feeling.

Next, the second hypothesis (H2) is rejected and there is no significant influence

between Peer Influence towards Saving Behavior. This finding is also can be

found in Jorgensen (2007) study about financial literacy and financial behavior

among college students. He mentioned that one of the reason why Peer Influence

does not influence financial behavior is because communication between child

and parent is supported well by the recent technology which has allow children to

call and/or contact parent more frequently. Thus, the reason for why peer

influence is not significantly influence saving behavior is technology that has

developed well has distracted the social interaction and learning that one should

have.

Next, the third hypothesis is accepted; Financial Literacy has a significant

influence to Saving Behavior. It is supported by Thung, et. al. (2012) , Jamal, et al

(2015) and Widyastuti, et. al. (2016) who’s also found the significant influence of

Financial Literacy towards Saving Behavior. According to Jamal, et. al. (2015),

being knowledgeable about finance or being financially literate would affect their

ability in making informed financial decision. In line with the previous findings,

Thung, et. al. (2012) stated that the higher one’s level of financial literacy, one

more likely to save for they are able to identify the knowledge and importance of

savings.

27
Lastly, hypothesis 4 and hypothesis 5 are accepted; Financial Literacy towards

Financial Attitude (H4) and Financial Attitude towards Saving Behavior (H5)

have a significant influence. In line with the findings, Shim, et. al. (2010) also

found that financial knowledge or financial literacy level has an important role in

influencing financial attitude and same goes for financial attitudes to financial

behavior. In addition, Shim, et. al. (2010) stated that behaviors are shaped by

emotions; it supports H5 where saving behavior is influenced by financial attitude.

Moreover, Jorgensen (2007) found that having low level of financial knowledge

or poorly financial literate would cause one to have negative opinions towards

finances and bad financial decision making. Jorgensen (2007) stated that increased

financial knowledge would positively influence students’ attitude; behavior of one

is related to their attitude. Therefore, with the supporting literature H4 and H5 is

accepted.

28
 CHAPTER 5

CONLUSION

5.1. Hypothesis answer

After conducting hypothesis testing, researcher found that one out of five

hypotheses is rejected. The influence of family influence towards saving behavior

(H1) is accepted. However, peer influence influences saving behavior (H2) is

rejected. Next, financial literacy influences saving behavior (H3) is also accepted;

same goes for the financial literacy financial attitude – saving behavior relation.

Financial literacy influences financial attitude (H4) is accepted and so does

financial attitude influences saving behavior.

5.2. Future Recommendation

Based on the result above, researcher has recommendations for online gamers and

future research.

1. Online gamers

Online gamers need to know that money is essential in living because in order to

fulfill individual’s needs, people use money as the currency exchange. That is

why knowing about basic finance is needed. However, further learning is strongly

recommended to have advance knowledge about how to save, finance or financial

management. Therefore, researcher recommends to learn seriously more about

saving and financial management through other courses such as: school subjects,

seminar, online learning or classes and joining investment club or other similar

community etc.

29
2. Financial Institutions

Financial institution could conduct more seminar or classes about financial

instrument and encourage people to save. Point out the importance of savings and

how to save efficiently. Develop new or fix the old products to suited to more

segments; that way, people could save easier and find the right products for them.

3. Future Research

Future research could consider investigating about saving behavior of online

gamers based on their economic condition such as income, expenses, number of

dependents, etc. For this research uses online gamers as the object of study to

investigate factors affecting saving behavior. Moreover, studies about saving

behavior of online gamers are rarely conducted.

30
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Determinats of Saving Behaviour among The University Students in
Malaysia. Petaling Jaya: Universiti Tunku Abdul Rahman, 1-109.
Widyastuti, U., Suhud, U., & Sumiati, A. (2016). The Impact of Financial
Literacy on Student Teachers’ Saving Intention and Saving Behaviour.
Mediterranean Journal of Social Sciences, Vol.7, 41-48.
Williams, S. (2010). Parental Influence on the Financial Literacy of Their School-
Aged Children: An Exploratory Study. The Journal of Undergraduate
Research, Vol. 8, 23-33.

34
 APPENDICES

Appendix 1.
Questionnaire Form

35
36
37
38
39
40
41
42
43
 Appendix 2.
Respondents’ Profile

Working

Gender Age Domicile Status Profesion Monthly Income

M > 20-30 years Bekasi No Students > 2.000.000 - 3.000.000

M > 20-30 years Jakarta No Students < 2.000.000

M > 20-30 years Bekasi Yes Officer > 5.000.001

M < 20 years Bekasi No Students < 2.000.000

M < 20 years Bekasi Yes Students < 2.000.000

M > 20-30 years Jakarta No Students > 2.000.000 - 3.000.000

M < 20 years Bekasi No Students < 2.000.000

M < 20 years Tangerang No Students < 2.000.000

M > 20-30 years Jakarta No Students > 2.000.000 - 3.000.000

F > 20-30 years Jakarta Yes Entrepreneur > 5.000.001

M > 20-30 years Bekasi Yes Students > 2.000.000 - 3.000.000

M > 20-30 years Bekasi Yes Students > 2.000.000 - 3.000.000

M > 20-30 years Bekasi No Students > 2.000.000 - 3.000.000

F > 20-30 years Jakarta No Students < 2.000.000

M > 20-30 years Jakarta No Students < 2.000.000

M > 20-30 years Bekasi No Students > 2.000.000 - 3.000.000

M > 20-30 years Jakarta No Students > 5.000.001

M < 20 years Bekasi No Students < 2.000.000

M < 20 years Jakarta No Students > 2.000.000 - 3.000.000

M < 20 years Bogor Yes Entrepreneur > 5.000.001

M > 20-30 years Bekasi No Students < 2.000.000

44
F > 40 years Depok Yes Entrepreneur > 3.000.001 - 4.000.000

M > 20-30 years Jakarta No Students < 2.000.000

F > 20-30 years Jakarta No Students > 4.000.001 - 5.000.000

F > 20-30 years Jakarta No Students < 2.000.000

M < 20 years Bekasi No Students < 2.000.000

F > 20-30 years Bekasi No Students > 2.000.000 - 3.000.000

F > 20-30 years Tangerang No Students < 2.000.000

M > 20-30 years Bekasi Yes Students < 2.000.000

M < 20 years Bekasi No Students < 2.000.000

M > 20-30 years Jakarta No Students < 2.000.000

F > 20-30 years Jakarta Yes Officer > 4.000.001 - 5.000.000

M > 20-30 years Bogor No Students < 2.000.000

M < 20 years Bekasi Yes Students > 5.000.001

M < 20 years Bekasi No Students < 2.000.000

M < 20 years Bekasi No Students < 2.000.000

M < 20 years Bekasi No Students > 2.000.000 - 3.000.000

F > 20-30 years Jakarta Yes Officer > 2.000.000 - 3.000.000

M > 20-30 years Bekasi No Students < 2.000.000

M > 20-30 years Jakarta No Students < 2.000.000

F > 20-30 years Jakarta No Students < 2.000.000

M > 20-30 years Jakarta Yes Students < 2.000.000

F > 20-30 years Jakarta No Students < 2.000.000

M > 20-30 years Bekasi No Students < 2.000.000

M > 20-30 years Jakarta No Students > 3.000.001 - 4.000.000

M > 20-30 years Jakarta No Students < 2.000.000

M > 20-30 years Jakarta Yes Officer > 5.000.001

45
F < 20 years Bekasi No Students > 2.000.000 - 3.000.000

F > 20-30 years Jakarta No Students > 5.000.001

F < 20 years Jakarta No Students < 2.000.000

F < 20 years Bekasi No Students > 2.000.000 - 3.000.000

F < 20 years Bekasi No Students > 2.000.000 - 3.000.000

M < 20 years Bekasi No Students < 2.000.000

M > 20-30 years Jakarta Yes Officer > 2.000.000 - 3.000.000

M < 20 years Bekasi No Students > 2.000.000 - 3.000.000

M > 20-30 years Jakarta Yes Students > 2.000.000 - 3.000.000

F < 20 years Bekasi No Students < 2.000.000

M < 20 years Jakarta No Students > 2.000.000 - 3.000.000

F < 20 years Bogor Yes Students > 2.000.000 - 3.000.000

M > 20-30 years Jakarta Yes Officer > 5.000.001

M > 20-30 years Tangerang No Students > 2.000.000 - 3.000.000

M > 20-30 years Jakarta Yes Entrepreneur > 4.000.001 - 5.000.000

M > 20-30 years Tangerang Yes Officer > 5.000.001

M > 20-30 years Jakarta No Students < 2.000.000

M > 20-30 years Bekasi No Students > 2.000.000 - 3.000.000

F > 20-30 years Jakarta Yes Officer > 5.000.001

F > 20-30 years Bekasi No Students < 2.000.000

F < 20 years Bekasi No Students < 2.000.000

F > 20-30 years Jakarta Yes Students > 4.000.001 - 5.000.000

M > 20-30 years Bekasi No Students > 2.000.000 - 3.000.000

M > 20-30 years Bekasi Yes Students > 2.000.000 - 3.000.000

M < 20 years Bekasi No Students < 2.000.000

M > 20-30 years Jakarta Yes Students < 2.000.000

46
M < 20 years Jakarta No Students > 2.000.000 - 3.000.000

F > 20-30 years Jakarta No Students < 2.000.000

M > 20-30 years Jakarta No Students > 5.000.001

F > 20-30 years Jakarta No Students < 2.000.000

M > 20-30 years Jakarta No Students > 3.000.001 - 4.000.000

M > 20-30 years Jakarta No Pengangguran > 3.000.001 - 4.000.000

F > 20-30 years Jakarta No Students < 2.000.000

M > 20-30 years Jakarta Yes Auditor > 5.000.001

F > 20-30 years Bekasi Yes Students < 2.000.000

M > 20-30 years Bekasi No Students > 2.000.000 - 3.000.000

M > 20-30 years Bekasi No Students < 2.000.000

M < 20 years Bekasi No Students > 2.000.000 - 3.000.000

M > 20-30 years Jakarta Yes Entrepreneur > 5.000.001

F > 20-30 years Tangerang Yes Officer > 5.000.001

M > 20-30 years Bekasi No Students < 2.000.000

M < 20 years Bekasi No Students < 2.000.000

F > 20-30 years Bekasi Yes Students > 2.000.000 - 3.000.000

M > 20-30 years Jakarta Yes Officer > 4.000.001 - 5.000.000

M > 20-30 years Jakarta Yes Officer > 5.000.001

M > 20-30 years Jakarta Yes Officer > 5.000.001

M > 20-30 years Jakarta Yes Officer > 2.000.000 - 3.000.000

M > 20-30 years Jakarta No Students > 2.000.000 - 3.000.000

F > 20-30 years Jakarta No Students < 2.000.000

M > 20-30 years Jakarta Yes Students > 2.000.000 - 3.000.000

M > 20-30 years Bekasi Yes Officer > 4.000.001 - 5.000.000

F < 20 years Jakarta No Students < 2.000.000

47
M > 20-30 years Bekasi No Students > 2.000.000 - 3.000.000

M > 20-30 years Tangerang Yes Students < 2.000.000

M > 20-30 years Jakarta No Students > 2.000.000 - 3.000.000

F > 20-30 years Jakarta No Students > 2.000.000 - 3.000.000

F > 20-30 years Bekasi No Students > 2.000.000 - 3.000.000

M > 20-30 years Jakarta Yes Students < 2.000.000

F > 20-30 years Bekasi Yes Students > 2.000.000 - 3.000.000

F > 20-30 years Jakarta Yes Students > 2.000.000 - 3.000.000

M > 31-40 years Tangerang Yes Officer > 5.000.001

F > 20-30 years Jakarta Yes Officer > 3.000.001 - 4.000.000

M > 20-30 years Jakarta No Students > 2.000.000 - 3.000.000

F > 20-30 years Jakarta No Students > 2.000.000 - 3.000.000

F > 20-30 years Bogor No Students > 2.000.000 - 3.000.000

M < 20 years Jakarta No Students < 2.000.000

M > 20-30 years Jakarta No Students < 2.000.000

F < 20 years Jakarta Yes Students < 2.000.000

M < 20 years Jakarta No Students < 2.000.000

F < 20 years Bekasi Yes Pengangguran > 5.000.001

M > 31-40 years Jakarta Yes Officer > 5.000.001

M < 20 years Jakarta No Students < 2.000.000

F < 20 years Jakarta No Students < 2.000.000

M > 20-30 years Tangerang Yes Officer > 5.000.001

M < 20 years Jakarta No Students < 2.000.000

M < 20 years Jakarta No Students < 2.000.000

F < 20 years Jakarta No Students < 2.000.000

M < 20 years Jakarta No Students > 2.000.000 - 3.000.000

48
M > 20-30 years Jakarta No Students > 2.000.000 - 3.000.000

M > 20-30 years Jakarta Yes Officer > 5.000.001

M > 20-30 years Bogor Yes Officer > 3.000.001 - 4.000.000

M < 20 years Jakarta No Students < 2.000.000

M > 20-30 years Tangerang Yes Officer > 5.000.001

M > 20-30 years Jakarta No Freelance < 2.000.000

M < 20 years Jakarta No Students < 2.000.000

M < 20 years Jakarta No Students < 2.000.000

M < 20 years Jakarta No Students > 2.000.000 - 3.000.000

M > 20-30 years Tangerang Yes Freelance < 2.000.000

M < 20 years Bekasi No Students < 2.000.000

M > 20-30 years Jakarta No Students < 2.000.000

F > 20-30 years Jakarta No Students < 2.000.000

M > 20-30 years Jakarta No Students < 2.000.000

M > 20-30 years Jakarta No Students < 2.000.000

M > 20-30 years Jakarta No Students > 4.000.001 - 5.000.000

M > 20-30 years Jakarta No Students < 2.000.000

F > 20-30 years Jakarta No Students > 5.000.001

F < 20 years Bekasi No Students < 2.000.000

F > 20-30 years Jakarta No Students > 2.000.000 - 3.000.000

M > 20-30 years Jakarta No Students > 5.000.001

F < 20 years Jakarta No Students < 2.000.000

M < 20 years Bekasi No Students < 2.000.000

M > 20-30 years Bekasi No Students < 2.000.000

F < 20 years Jakarta No Students < 2.000.000

F > 20-30 years Bogor No Students < 2.000.000

49
M < 20 years Bekasi No Students > 2.000.000 - 3.000.000

F > 20-30 years Tangerang No Students < 2.000.000

M > 20-30 years Jakarta No Students < 2.000.000

F > 20-30 years Jakarta No Students < 2.000.000

F > 20-30 years Bekasi No Students < 2.000.000

F < 20 years Jakarta No Students < 2.000.000

M > 20-30 years Bekasi No Students > 2.000.000 - 3.000.000

M < 20 years Bekasi No Students < 2.000.000

M > 20-30 years Jakarta No Students < 2.000.000

F > 20-30 years Tangerang No Students > 2.000.000 - 3.000.000

F > 20-30 years Jakarta Yes Officer > 5.000.001

M < 20 years Bekasi No Students > 2.000.000 - 3.000.000

M > 20-30 years Bekasi No Students > 2.000.000 - 3.000.000

F < 20 years Bekasi No Students < 2.000.000

F < 20 years Bogor No Students < 2.000.000

M > 20-30 years Bekasi No Students < 2.000.000

F > 20-30 years Jakarta No Students < 2.000.000

F < 20 years Jakarta Yes Mengajar les > 2.000.000 - 3.000.000

F > 20-30 years Jakarta Yes Students > 2.000.000 - 3.000.000

F < 20 years Bekasi No Students < 2.000.000

M > 20-30 years Bekasi No Students < 2.000.000

M < 20 years Bekasi No Students < 2.000.000

F > 20-30 years Jakarta No Students < 2.000.000

F > 20-30 years Bekasi No Students > 2.000.000 - 3.000.000

M > 20-30 years Bekasi Yes Officer > 5.000.001

F > 20-30 years Bekasi No Students < 2.000.000

50
M < 20 years Jakarta Yes Students > 2.000.000 - 3.000.000

F > 20-30 years Bekasi No Students > 2.000.000 - 3.000.000

F < 20 years Bekasi No Students < 2.000.000

F < 20 years Jakarta Yes Students < 2.000.000

M > 20-30 years Bekasi No Students < 2.000.000

F < 20 years Jakarta No Students > 2.000.000 - 3.000.000

F < 20 years Jakarta No Students < 2.000.000

M > 20-30 years Jakarta Yes Mengajar les > 2.000.000 - 3.000.000

F < 20 years Jakarta Yes Students < 2.000.000

M > 20-30 years Bogor No Students < 2.000.000

M < 20 years Bogor No Students < 2.000.000

F > 20-30 years Jakarta Yes Officer > 3.000.001 - 4.000.000

F > 20-30 years Bekasi No Students < 2.000.000

F < 20 years Jakarta No Students < 2.000.000

M > 20-30 years Bekasi No Students < 2.000.000

F > 20-30 years Tangerang No Students > 2.000.000 - 3.000.000

F < 20 years Bekasi No Students < 2.000.000

M > 40 years Tangerang No Students > 5.000.001

M > 20-30 years Bekasi Yes Officer > 3.000.001 - 4.000.000

F < 20 years Jakarta No Students < 2.000.000

F < 20 years Jakarta No Students < 2.000.000

F > 20-30 years Bekasi No Students < 2.000.000

M > 20-30 years Depok Yes Officer > 2.000.000 - 3.000.000

M < 20 years Bekasi No Students > 3.000.001 - 4.000.000

F < 20 years Bekasi No Students > 2.000.000 - 3.000.000

F > 20-30 years Bekasi No Students < 2.000.000

51
F < 20 years Jakarta No Students > 2.000.000 - 3.000.000

F < 20 years Bekasi No Students > 2.000.000 - 3.000.000

F > 20-30 years Jakarta No Students < 2.000.000

F > 20-30 years Jakarta Yes Officer > 2.000.000 - 3.000.000

F < 20 years Bekasi No Students < 2.000.000

M > 20-30 years Bekasi No Students < 2.000.000

F > 20-30 years Bekasi No Students < 2.000.000

F > 20-30 years Bogor No Students < 2.000.000

F < 20 years Bekasi No Students < 2.000.000

F > 20-30 years Bekasi No Students > 2.000.000 - 3.000.000

F > 20-30 years Bogor Yes Freelance > 3.000.001 - 4.000.000

M > 20-30 years Bekasi Yes Entrepreneur > 5.000.001

M > 20-30 years Jakarta Yes Freelance > 2.000.000 - 3.000.000

F < 20 years Bekasi No Students < 2.000.000

M > 20-30 years Jakarta No Students > 5.000.001

52
 Appendix 3.
Respondents’ Responses

Variable X

FL1 FL2 FL3 FL4 FL5 FL6 FL7 FI1 FI2 FI3 FI4 FI5 FI6 PI1 PI2 PI3 PI4 PI5 PI6

4 4 4 5 4 4 4 4 2 2 4 4 4 4 2 2 4 4 2

4 4 4 4 2 4 5 5 4 4 4 5 5 5 5 5 4 5 5

4 2 5 4 4 5 4 2 1 4 4 5 5 5 3 5 2 2 1

2 2 2 5 3 1 2 4 2 4 4 5 5 5 4 4 4 4 5

4 2 2 4 2 4 4 4 3 3 4 5 5 5 2 4 3 4 2

4 2 4 5 4 4 4 5 2 4 4 4 4 4 4 5 4 5 4

4 3 4 4 4 4 4 4 2 3 4 5 5 5 1 1 3 1 1

2 4 3 2 4 5 5 4 2 2 4 5 5 5 2 4 2 4 5

4 4 4 1 4 4 4 4 4 5 4 4 5 5 4 4 4 4 4

4 5 5 1 4 5 5 5 5 2 5 2 5 5 2 4 4 4 4

3 4 5 2 4 4 4 2 1 3 2 5 5 5 2 3 3 1 1

3 4 5 3 4 4 4 2 1 3 2 5 5 5 2 3 3 1 1

4 2 4 5 4 4 4 4 4 4 4 5 4 4 2 2 4 4 4

5 4 5 4 4 5 4 5 4 4 5 5 5 5 5 4 4 4 4

5 4 4 4 1 3 5 4 4 4 4 4 5 5 5 4 4 5 4

5 5 5 5 5 5 5 3 2 1 3 5 5 3 4 4 1 1 1

5 3 4 5 3 4 4 5 5 3 4 4 3 3 5 4 4 3 3

4 2 3 4 3 4 3 4 4 2 4 4 5 4 4 2 4 2 4

3 2 3 1 2 5 5 1 1 1 1 4 3 5 1 3 4 4 3

4 4 5 4 2 4 2 4 2 2 5 4 4 5 2 2 2 2 2

4 4 4 4 3 3 3 4 4 4 4 4 4 4 4 2 2 2 3

53
4 4 5 5 1 4 2 5 2 2 5 1 5 1 1 1 4 2 1

4 4 4 3 3 4 4 4 4 5 5 5 4 3 4 4 4 4 4

5 4 5 5 5 5 5 4 1 1 2 4 5 5 2 2 3 1 1

3 4 4 3 4 3 3 4 3 2 3 3 3 3 2 2 2 2 3

4 2 3 5 2 4 4 4 4 4 2 5 5 5 2 4 2 4 5

4 4 4 4 4 4 4 2 1 1 1 4 4 4 4 2 4 4 2

4 2 5 2 1 4 1 1 4 4 2 4 5 5 1 1 5 5 4

4 4 4 4 4 4 4 5 5 5 4 4 5 3 4 4 4 4 4

4 4 5 5 5 5 5 3 1 3 4 5 4 5 3 1 4 3 1

4 4 4 5 5 3 3 2 2 2 2 5 5 5 4 5 3 2 2

3 4 4 4 3 4 3 3 3 3 4 2 4 3 3 4 3 2 3

5 4 5 5 3 5 4 5 5 5 5 5 5 5 5 5 2 4 5

5 4 5 5 3 4 5 3 2 1 3 5 5 5 3 1 1 3 4

4 4 5 5 5 4 5 5 4 5 4 5 5 4 5 4 5 4 5

3 3 3 3 4 4 3 4 3 3 5 3 5 4 4 2 4 3 4

5 4 5 3 4 4 4 2 2 2 2 3 4 4 2 1 2 2 2

5 4 5 4 5 4 4 4 2 2 3 4 5 4 3 2 4 1 3

4 4 4 5 4 5 4 5 5 5 5 5 5 5 2 5 5 3 2

3 2 2 2 4 4 3 4 4 4 4 3 2 4 4 2 4 4 3

3 2 4 4 3 4 3 2 4 2 2 4 4 4 4 2 4 4 4

1 2 2 5 3 2 2 3 4 4 4 1 1 2 2 4 5 4 4

4 4 4 4 4 4 4 5 4 4 4 4 5 5 4 4 4 4 4

4 3 3 3 3 4 3 4 3 4 3 3 3 4 3 3 4 3 5

5 4 4 5 4 5 4 5 4 5 3 4 5 4 4 5 4 5 5

3 3 3 3 4 4 4 2 4 3 2 5 5 5 3 1 3 1 1

4 4 5 4 3 4 4 3 2 3 3 4 5 4 3 3 4 2 3

54
4 2 4 4 4 5 5 5 2 4 4 4 4 5 5 5 5 2 4

3 3 2 3 4 4 4 5 4 3 4 4 5 5 2 1 4 4 2

4 4 4 5 4 4 4 4 4 5 5 5 5 5 4 5 4 5 4

4 4 5 4 3 3 3 4 2 4 4 5 5 5 1 2 4 1 2

4 2 5 4 4 4 4 2 2 2 4 4 5 5 1 1 4 4 2

3 4 4 5 2 4 5 5 1 1 3 4 5 5 1 3 5 2 2

4 4 5 5 5 5 5 3 3 3 3 3 4 3 5 4 3 4 3

5 5 5 5 4 4 4 4 4 5 5 5 5 5 5 5 5 5 5

5 4 4 4 2 5 4 4 2 1 1 4 4 4 2 5 4 2 1

2 3 4 4 3 3 4 4 4 4 4 4 4 3 2 2 4 3 3

1 1 3 4 1 4 2 3 2 1 5 5 1 5 1 1 1 1 1

5 5 5 5 5 5 5 5 2 1 4 5 5 5 1 5 5 5 5

4 4 5 4 2 4 2 2 2 2 2 2 4 4 2 2 2 2 1

3 2 3 4 4 2 3 2 4 2 2 3 5 3 3 5 4 4 3

5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5

5 5 4 4 5 5 5 2 2 2 2 5 5 5 5 4 4 5 4

4 4 5 4 4 5 2 2 2 4 4 4 5 4 2 1 1 2 1

5 5 5 5 5 5 5 3 4 5 4 4 4 4 5 4 3 4 4

5 5 5 5 5 5 5 3 3 2 2 4 5 5 5 5 4 2 5

2 2 2 2 2 2 2 4 4 4 4 4 4 5 4 4 4 4 5

4 4 5 4 3 4 3 5 2 2 3 5 5 5 2 2 3 2 1

4 4 4 5 4 4 4 4 4 4 5 4 2 5 4 4 4 4 4

3 2 4 4 2 4 3 2 2 2 3 2 4 4 4 4 5 4 3

4 3 4 4 4 4 4 4 3 3 4 5 5 4 3 2 3 4 4

4 4 2 4 5 5 4 5 2 4 4 5 5 5 1 1 4 2 1

5 4 4 5 3 4 4 3 2 2 3 5 4 3 4 2 2 3 2

55
4 5 3 4 3 4 4 5 3 4 4 3 4 5 4 4 5 5 4

2 4 4 5 2 2 4 5 4 5 2 5 5 5 4 2 5 5 4

5 5 5 5 5 5 5 4 5 5 5 5 5 5 5 1 1 1 4

5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5

5 4 5 4 5 5 5 4 4 4 5 5 5 4 4 4 5 5 5

4 4 4 4 5 4 4 2 2 2 2 2 4 4 5 4 4 5 4

3 2 4 3 5 4 5 4 2 4 4 5 4 5 2 4 5 4 2

4 5 5 5 5 5 4 5 4 2 5 4 5 5 5 1 2 2 2

4 5 5 2 5 4 4 4 3 5 5 5 5 5 5 5 5 3 4

5 4 5 4 4 4 5 4 2 1 2 4 4 5 2 1 4 3 4

4 3 3 4 1 1 1 1 3 3 2 2 5 3 1 1 5 3 5

4 4 4 4 4 5 3 4 4 4 4 4 5 5 3 4 3 4 3

5 5 5 5 4 4 4 5 5 4 4 2 1 2 2 1 5 1 1

4 3 5 4 4 5 4 4 2 2 2 2 5 5 5 3 4 4 3

4 2 2 3 3 1 2 3 2 4 4 4 4 5 3 2 2 2 2

3 3 3 4 4 4 4 4 3 3 4 4 5 4 2 2 3 2 3

4 4 4 4 4 4 4 5 5 5 5 5 5 2 2 2 2 2 2

3 3 4 3 4 5 4 3 5 4 3 3 4 2 3 3 4 3 4

4 5 5 5 5 4 5 1 1 4 4 2 5 2 2 1 1 2 2

3 3 3 3 4 3 3 4 3 3 4 5 5 4 4 4 2 2 2

4 4 4 4 5 4 3 4 3 3 4 4 4 5 4 3 3 3 3

4 3 4 4 2 3 2 2 2 2 3 2 4 5 3 2 4 2 2

4 3 4 4 4 4 4 4 2 3 4 4 4 1 1 1 2 4 2

2 4 1 4 2 5 3 2 4 1 4 1 5 1 4 4 2 2 3

4 2 4 4 4 4 5 4 2 1 4 5 5 5 2 1 4 2 4

3 4 4 3 4 4 3 4 4 3 4 4 4 4 2 2 2 2 1

56
4 2 4 3 2 4 4 3 4 4 4 4 4 3 4 4 4 5 3

4 5 3 3 2 3 4 2 2 5 4 4 5 5 1 3 3 4 5

4 4 4 2 4 2 2 4 2 4 4 5 4 4 1 2 2 2 2

5 4 5 5 3 4 4 3 3 4 3 3 5 4 3 4 2 3 3

3 2 3 4 1 2 2 3 2 4 3 1 1 5 2 1 3 3 2

2 2 3 4 2 5 4 4 3 4 4 4 4 4 4 4 4 4 4

4 4 4 4 4 4 4 4 3 4 4 4 4 4 4 4 4 3 4

4 2 4 4 3 4 4 2 3 4 2 4 3 5 4 4 4 4 3

3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3

3 3 3 3 3 3 3 4 4 4 4 4 4 5 1 1 3 3 4

4 5 5 4 3 3 4 4 5 5 4 4 5 5 5 1 5 4 4

5 5 3 4 4 4 4 5 2 5 5 5 5 5 4 1 4 1 4

5 4 5 5 3 4 3 3 4 2 3 4 3 4 4 4 3 4 3

5 5 5 5 4 4 4 4 4 5 5 5 5 3 4 5 4 3 3

3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3

5 5 5 4 3 4 3 5 5 5 5 5 5 5 3 4 4 5 5

3 3 3 4 2 3 3 4 5 4 4 4 4 4 2 2 2 3 3

1 1 1 1 5 5 5 1 1 1 1 1 1 1 1 1 1 1 1

4 5 5 2 5 5 5 3 3 3 3 3 3 3 3 2 1 1 3

3 3 3 3 3 3 3 5 4 4 4 4 4 3 3 3 3 3 3

2 2 2 2 4 2 2 4 4 4 3 3 3 2 2 2 2 2 2

4 4 4 2 3 4 3 2 1 1 1 5 3 4 1 1 3 1 1

3 3 2 2 4 3 3 4 4 3 4 3 4 3 3 3 3 3 3

4 3 4 4 3 4 4 5 3 3 4 4 4 4 3 2 2 3 4

2 1 2 4 3 3 2 4 4 3 3 5 5 2 2 3 3 2 1

4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4

57
5 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4

5 3 4 5 3 3 3 5 4 4 4 3 5 3 3 3 5 4 5

2 1 1 2 1 1 1 1 1 1 1 3 3 1 1 1 1 1 3

3 3 3 3 3 3 3 4 4 4 4 4 4 3 3 3 3 3 3

3 3 4 3 3 4 4 2 2 2 3 2 4 3 3 3 4 4 3

4 4 3 5 4 4 5 4 4 5 3 4 4 3 5 4 4 3 5

3 2 3 2 2 2 1 2 1 2 2 1 3 4 2 2 3 2 2

3 2 3 2 2 2 1 2 1 2 2 1 3 4 2 2 3 2 2

5 4 4 4 4 4 4 5 3 5 5 4 5 5 4 4 4 4 5

5 5 5 4 5 5 4 5 2 3 3 3 5 4 2 2 4 4 4

3 4 5 4 4 4 2 2 2 1 4 5 5 5 2 4 4 4 5

5 5 5 1 5 5 5 1 1 1 1 5 1 1 1 1 5 5 4

3 3 4 4 3 2 2 5 4 4 4 5 4 4 4 4 5 4 4

5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5

1 1 1 4 4 1 4 3 4 4 4 5 5 5 1 1 3 4 2

5 5 4 5 4 5 4 5 5 4 5 5 5 4 5 4 5 5 5

2 4 4 4 2 4 3 4 4 2 4 5 4 4 3 2 4 2 2

3 2 2 2 3 2 2 3 3 3 3 3 3 3 3 3 3 3 3

4 3 4 4 4 4 3 4 2 3 3 4 3 4 2 2 2 2 3

3 4 5 5 5 5 5 5 5 3 4 5 5 3 3 3 3 2 2

4 2 4 3 3 3 3 4 1 1 3 3 4 3 2 3 5 1 3

5 4 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5

3 3 4 3 3 5 4 3 4 4 4 5 4 4 4 3 2 3 4

4 4 4 4 3 4 3 3 2 3 3 3 5 4 2 2 4 3 3

5 4 3 4 3 4 4 4 5 4 4 4 5 5 2 4 3 4 4

4 4 4 5 4 4 4 4 4 4 4 5 5 5 4 5 5 4 4

58
3 3 4 3 4 3 4 3 4 3 4 4 4 4 4 3 3 4 3

5 5 5 4 4 4 4 5 5 5 5 5 5 5 2 1 4 1 1

4 5 5 5 3 4 2 4 3 4 4 5 5 5 3 5 4 4 2

4 2 4 4 4 4 4 3 2 2 2 4 3 5 3 2 3 2 4

3 3 3 4 4 4 4 4 4 3 4 3 4 3 2 2 2 3 3

3 3 3 3 2 3 2 2 2 3 2 3 4 4 2 2 4 3 3

4 4 4 3 2 3 3 2 1 1 3 3 4 5 1 1 3 2 4

4 4 4 4 2 4 4 4 3 3 2 3 5 2 2 2 2 2 2

4 4 4 4 4 4 4 2 1 1 1 5 3 5 4 1 4 2 1

3 3 3 4 4 5 4 3 1 1 4 5 5 5 5 1 5 3 2

5 5 5 5 3 4 4 2 2 3 3 5 5 5 5 1 1 2 5

2 1 2 2 3 2 2 2 2 4 4 2 2 2 2 2 2 2 2

3 4 4 4 3 4 4 3 2 2 3 4 4 4 3 2 2 2 2

2 3 3 3 5 3 3 4 4 5 5 5 4 4 4 2 3 2 3

4 4 4 4 2 2 2 4 4 4 4 5 2 5 4 3 3 4 2

4 4 3 4 3 4 4 5 2 4 3 4 4 3 4 4 5 5 4

2 2 3 4 4 3 3 3 2 2 3 3 5 3 1 1 2 1 2

3 2 3 3 3 3 3 3 3 3 3 5 5 5 4 3 3 3 3

4 3 4 5 4 4 4 4 2 3 3 4 4 4 4 3 4 4 2

3 2 3 3 3 4 3 4 4 4 4 3 4 4 3 2 3 3 3

3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3

5 4 4 4 4 4 4 3 3 3 3 3 3 3 3 3 3 3 3

3 4 4 3 2 3 3 4 4 4 4 4 4 4 4 4 4 4 4

4 2 5 4 2 4 4 2 1 1 1 1 4 5 4 2 4 4 4

5 5 5 5 5 5 5 5 5 4 4 4 4 4 5 4 4 5 5

3 3 4 4 5 3 3 5 5 5 5 5 5 3 3 4 2 1 1

59
4 4 4 4 4 4 4 4 4 4 4 3 4 4 5 4 4 4 4

3 4 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3

4 3 3 3 3 3 3 5 4 5 4 5 4 4 3 3 3 2 3

3 5 5 4 4 4 4 5 5 5 5 5 5 5 5 5 5 5 5

2 1 1 1 4 3 3 3 1 1 1 4 3 2 1 1 1 3 2

4 4 4 4 4 3 3 2 1 1 4 3 5 5 5 1 3 3 3

4 4 4 4 4 4 4 5 5 5 5 5 5 5 5 5 5 5 5

3 3 4 5 3 4 4 3 2 1 3 5 5 5 2 3 2 3 2

3 2 2 1 1 3 3 5 3 3 3 4 5 5 3 5 4 3 1

3 4 4 4 4 4 4 5 4 3 5 5 5 3 4 2 4 4 4

4 4 4 4 4 4 4 3 3 2 2 2 4 4 4 2 4 4 2

4 4 4 4 5 5 5 3 3 3 4 4 4 4 4 3 2 3 4

5 3 4 4 3 5 3 2 4 5 3 2 3 5 4 2 4 5 3

3 3 3 3 3 5 3 3 5 5 5 5 5 5 5 5 3 3 4

4 4 4 4 4 4 4 5 5 5 5 5 5 5 5 2 4 5 3

4 4 4 4 4 4 4 2 3 2 2 5 1 5 3 4 5 5 1

4 4 4 4 4 4 4 4 4 4 4 4 5 5 2 2 2 2 2

5 5 3 4 4 5 3 5 4 3 4 5 4 4 3 4 5 5 4

3 4 5 4 5 3 5 5 5 3 3 3 5 3 3 3 3 3 3

3 2 2 4 3 2 3 4 3 4 4 3 5 2 2 2 4 2 2

3 3 3 4 3 3 3 4 5 5 4 4 5 5 2 4 5 5 3

3 1 1 4 2 2 2 5 4 5 5 3 2 2 2 1 1 1 2

4 1 4 1 2 2 2 4 2 3 3 2 1 4 2 1 4 2 1

5 4 4 4 5 5 4 4 4 4 4 5 4 5 5 4 5 4 4

5 5 5 3 5 5 5 5 3 4 2 1 3 5 2 2 5 5 3

4 3 4 4 5 4 4 4 2 2 3 5 5 4 1 1 1 1 1

60
5 5 5 5 4 5 4 5 5 4 5 5 5 5 5 5 5 5 5

4 4 4 3 3 4 3 3 3 3 3 3 4 4 3 3 3 4 3

3 3 3 4 2 2 4 4 4 2 4 4 3 4 3 4 3 3 4

4 5 5 4 5 4 5 5 4 5 5 4 4 5 4 4 4 5 4

2 2 3 3 4 4 4 4 3 1 5 5 5 5 2 4 3 3 4

4 3 4 4 4 4 4 5 4 3 3 3 4 3 1 2 2 1 1

5 5 5 5 5 4 4 5 5 3 5 5 5 5 4 5 5 4 3

4 4 4 5 5 4 5 4 4 5 4 5 4 4 4 5 5 5 5

4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4

3 3 2 4 4 4 3 4 3 4 3 3 5 3 4 4 4 3 4

3 2 5 4 4 4 4 4 5 5 5 4 4 4 5 5 4 5 4

1 1 1 1 1 1 1 1 3 3 3 3 3 3 3 3 3 3 3

4 3 4 3 4 4 4 3 4 3 4 4 5 4 4 3 4 4 4

2 2 3 3 4 3 3 4 4 4 4 3 4 3 3 3 3 3 4

3 2 3 3 5 3 4 4 2 2 4 3 4 5 1 4 3 4 2

Variable Y

FA1 FA2 FA3 FA4 FA5 FA6 FA7 FA8 FA9 FA10 FA11 FA12

4 2 2 4 2 4 4 2 4 4 4 2

4 5 5 4 4 4 5 2 5 5 4 4

3 5 5 5 5 4 5 2 4 5 3 4

4 4 2 4 1 4 2 2 2 5 1 1

2 5 5 4 4 3 5 2 5 4 4 4

2 4 5 4 4 5 5 4 4 3 3 4

4 4 4 5 4 4 4 2 4 5 2 1

61
4 5 5 3 2 4 4 2 4 5 5 5

4 5 5 4 4 4 5 4 4 4 4 4

5 5 5 4 5 4 2 2 4 5 5 5

4 5 5 5 5 4 5 3 4 5 5 5

4 5 5 5 5 4 5 3 4 5 5 5

2 5 5 4 4 4 4 2 4 5 4 4

4 5 5 4 4 4 5 4 4 5 5 5

4 4 5 4 5 4 5 3 5 5 5 5

5 3 3 3 1 5 5 2 5 5 4 5

4 4 5 3 5 4 5 5 3 4 3 4

3 4 4 2 2 2 3 4 3 5 3 3

3 5 5 3 1 4 2 4 3 5 1 1

2 5 4 2 4 2 4 4 4 5 2 2

4 4 4 4 4 4 4 4 4 4 4 4

2 5 5 5 5 2 1 5 2 5 2 1

4 4 3 4 3 4 3 5 3 5 5 4

5 5 5 5 5 5 5 2 5 5 5 5

3 3 3 3 3 3 3 3 3 4 3 3

2 4 4 2 4 1 1 5 2 5 4 1

2 4 4 4 4 4 4 2 4 4 2 2

1 5 2 4 2 1 5 4 2 5 4 1

4 4 5 3 4 4 4 4 4 5 4 4

4 5 5 5 5 5 5 5 4 5 4 5

3 4 5 5 5 4 4 1 4 5 3 3

3 4 4 3 3 3 3 2 4 4 3 4

4 5 5 4 5 3 5 1 4 5 5 5

62
5 5 5 5 5 5 4 5 4 5 5 5

4 5 4 5 4 5 5 4 5 4 5 4

3 4 3 4 4 4 4 4 3 5 4 3

4 5 4 4 3 4 4 2 4 4 2 2

4 4 5 5 4 3 4 2 3 4 3 3

5 5 5 4 5 5 5 1 5 4 5 5

4 4 4 4 5 3 4 3 4 5 4 4

3 4 4 4 4 4 4 2 4 5 4 4

2 1 2 2 2 2 2 2 2 1 1 2

4 5 4 5 4 4 4 4 4 5 2 4

4 3 3 4 3 4 3 4 3 3 3 4

5 4 5 4 5 4 5 5 5 5 4 4

5 5 5 5 5 3 5 1 5 5 1 5

4 4 5 4 4 4 4 4 3 5 3 3

5 5 5 4 2 2 4 2 5 5 4 4

4 4 5 3 3 4 3 2 4 5 4 4

2 5 5 2 5 2 4 5 4 5 5 5

3 2 4 3 1 2 4 1 4 5 2 2

4 5 4 4 4 4 4 4 4 5 4 4

3 5 5 4 5 5 5 1 4 5 3 4

5 4 3 5 4 5 5 3 5 5 4 5

4 4 4 4 4 4 4 4 4 5 5 5

2 1 5 2 4 2 4 4 4 5 4 4

2 4 4 4 2 4 4 4 4 4 3 3

1 5 4 4 4 4 5 2 1 5 4 2

5 5 5 5 5 5 5 1 5 5 5 5

63
4 5 4 2 2 2 2 5 2 5 2 2

3 3 4 4 4 3 3 3 3 5 2 3

5 5 5 5 5 5 5 5 5 5 5 5

5 5 5 5 4 5 5 4 5 4 5 5

5 4 2 4 4 4 5 5 2 4 4 4

4 4 4 4 4 4 4 4 4 4 4 4

5 5 5 5 5 5 3 2 5 5 5 5

2 5 4 4 2 4 4 4 4 4 4 4

4 4 5 3 1 4 4 1 4 5 3 5

2 4 2 4 5 4 4 4 2 5 2 2

3 4 4 2 2 3 4 3 3 5 3 4

4 5 4 5 4 4 5 3 4 5 4 3

4 5 5 5 4 4 5 1 4 5 2 2

3 5 5 4 4 4 3 5 4 3 5 5

4 5 3 4 4 3 4 4 4 4 4 4

2 4 5 2 5 2 2 4 4 5 5 5

5 5 5 5 5 5 5 2 5 5 5 5

5 5 5 5 5 5 5 5 5 5 5 5

5 5 5 4 5 5 5 5 5 5 5 5

5 5 5 4 4 4 4 2 4 5 4 4

5 4 4 3 2 5 3 2 4 5 2 2

5 5 4 4 4 5 5 2 4 5 5 5

4 5 5 4 3 3 4 2 5 5 5 4

4 4 4 3 4 4 3 3 4 5 3 2

2 5 5 2 3 1 1 2 1 4 3 2

4 4 4 4 3 3 4 5 5 5 3 4

64
4 5 5 3 4 4 5 4 4 5 5 5

4 4 4 4 4 4 5 3 4 5 3 4

4 5 5 3 4 3 4 2 3 4 4 4

4 4 4 4 4 4 4 2 4 5 3 4

4 4 4 4 4 4 4 4 4 5 4 4

3 4 4 3 4 3 5 4 3 4 3 2

4 5 5 5 5 5 5 2 5 5 5 5

4 5 5 5 4 4 4 2 4 5 3 3

4 4 4 5 3 4 3 2 4 5 3 2

3 4 4 3 2 4 4 5 4 4 4 4

4 4 4 4 4 4 4 2 3 5 5 5

2 4 1 1 4 2 2 3 2 4 2 2

4 4 5 5 2 3 3 1 3 5 2 2

4 4 5 4 4 5 4 2 3 4 3 4

2 4 5 5 4 2 4 4 2 4 4 4

2 3 3 3 3 4 4 4 3 5 4 3

5 4 5 2 5 5 5 2 5 5 4 5

3 4 5 2 4 4 3 5 2 5 2 3

2 5 5 3 2 2 3 1 4 5 4 4

4 4 4 4 3 4 4 2 4 4 4 3

4 4 4 5 3 4 4 2 4 5 4 4

2 4 4 2 2 1 2 5 2 5 1 3

3 3 3 3 3 3 3 3 3 3 3 3

3 3 3 2 3 3 3 4 3 5 3 3

4 4 4 4 3 4 4 2 4 5 4 4

5 5 2 4 1 5 2 1 3 5 1 4

65
3 5 4 3 3 3 3 2 3 4 3 3

4 5 5 3 4 5 5 4 4 5 4 5

3 3 3 3 3 3 3 3 3 3 3 3

4 4 5 3 5 5 5 5 4 3 4 5

3 3 3 4 4 3 4 3 2 5 4 4

5 3 1 5 1 5 5 5 5 1 1 1

5 5 5 3 4 5 5 5 5 5 5 5

4 4 4 4 4 4 4 4 4 4 4 4

3 4 5 4 3 4 3 4 4 3 2 4

3 3 3 4 2 4 4 2 4 4 1 1

4 3 3 3 3 3 3 3 3 3 3 3

4 4 4 3 4 3 4 3 4 5 4 2

3 4 4 3 2 3 3 4 3 5 4 4

4 4 4 4 4 4 4 4 4 4 4 4

4 4 4 4 4 4 4 4 4 4 4 4

2 5 5 4 4 2 5 3 4 5 5 5

1 4 4 3 3 2 1 3 2 5 3 4

5 5 5 3 4 4 4 4 4 5 3 5

3 4 3 2 4 4 3 3 3 5 4 3

4 5 4 4 5 5 3 4 4 3 4 3

3 3 3 3 3 3 3 3 3 5 3 3

3 3 3 3 3 3 3 3 3 5 3 3

5 5 5 5 4 4 4 4 5 5 4 4

4 5 5 3 3 3 3 3 3 3 3 3

2 4 5 2 1 2 4 2 4 5 4 4

5 5 5 5 5 5 5 1 5 5 4 4

66
2 4 4 4 4 4 4 4 4 5 4 4

5 5 5 5 5 5 5 4 5 5 5 4

5 5 5 5 3 5 5 1 5 5 1 1

5 4 5 4 5 4 5 4 5 4 4 5

4 5 3 4 3 4 4 2 4 4 2 2

3 3 3 3 3 3 3 3 3 3 3 3

3 4 4 4 2 2 2 4 3 5 3 3

5 5 5 4 5 5 5 5 5 5 5 5

3 5 4 5 2 4 3 1 3 5 3 4

5 5 5 5 5 5 5 5 5 5 5 5

5 5 5 4 4 4 5 3 4 4 5 5

3 4 4 3 3 4 3 3 3 3 3 3

4 5 5 4 4 2 4 2 4 5 3 4

4 5 5 5 5 5 5 2 4 5 4 5

4 4 5 4 4 4 5 4 4 4 4 4

4 5 5 5 3 4 4 1 4 5 2 1

3 5 5 4 4 4 5 4 4 5 5 5

4 4 4 3 3 4 4 4 4 5 3 3

3 4 4 3 4 3 4 2 3 4 4 3

3 4 3 3 2 2 3 4 3 4 3 2

2 4 4 2 3 2 4 2 4 5 2 1

4 2 4 4 2 2 2 1 3 4 4 2

5 5 5 5 5 5 5 5 5 5 5 5

4 5 5 4 3 5 5 1 5 5 5 5

4 5 5 5 5 5 5 2 4 5 4 5

2 2 2 2 2 2 2 2 2 2 2 2

67
4 5 5 3 4 5 5 5 4 4 4 4

4 5 5 4 4 4 3 3 3 5 4 4

2 5 4 2 5 4 3 2 4 4 5 5

4 4 4 3 4 5 5 5 4 4 4 5

3 4 3 3 2 3 2 2 3 5 1 1

3 5 3 3 3 3 4 4 3 5 3 3

3 4 4 4 3 4 4 3 4 4 3 3

3 4 3 4 2 3 3 3 3 4 3 3

3 3 3 3 3 3 3 3 3 3 3 3

2 5 4 5 4 3 4 3 3 3 3 3

3 4 4 2 2 3 4 4 4 4 4 4

2 4 2 2 2 2 2 4 2 5 1 4

1 5 5 5 5 5 4 4 5 5 4 4

2 5 3 3 3 4 5 2 4 5 3 3

4 4 4 4 4 4 4 4 4 4 4 4

4 4 4 3 3 3 3 3 3 4 5 4

3 3 3 3 3 3 3 3 3 3 3 3

5 5 5 5 5 5 5 5 5 5 5 5

4 3 1 1 1 4 3 1 5 4 1 1

3 4 3 3 3 3 4 4 4 5 5 4

4 4 4 4 4 4 4 4 4 4 4 4

4 4 4 4 2 3 4 2 3 5 2 2

3 5 5 3 3 3 3 4 4 3 5 5

4 4 4 4 4 4 4 3 4 5 2 3

4 4 4 3 4 4 4 4 4 4 4 4

4 3 3 3 4 4 4 3 4 5 4 4

68
3 3 3 3 3 3 3 3 3 3 3 3

5 5 5 5 5 5 5 3 5 5 5 5

4 5 5 5 4 4 5 5 5 5 5 5

5 5 5 3 5 5 5 1 5 5 5 5

2 4 4 4 4 4 4 2 4 5 4 4

4 3 5 5 4 4 4 5 5 4 5 4

3 3 3 3 3 4 4 3 4 3 3 3

2 4 4 4 4 3 3 2 2 5 5 5

4 4 4 3 3 3 3 4 4 5 3 5

2 3 4 1 2 1 2 5 2 4 2 2

4 1 4 2 2 5 1 2 1 4 2 5

4 4 4 3 5 4 4 4 4 4 4 4

5 4 5 5 3 5 5 1 5 5 2 2

5 5 5 5 3 5 5 4 5 5 5 5

5 5 5 5 5 5 5 5 5 5 5 5

4 4 4 2 3 3 3 3 3 5 5 5

4 5 4 2 3 4 4 4 3 5 4 4

5 5 4 5 4 5 5 2 5 4 4 5

4 3 3 5 3 5 5 4 5 5 2 3

4 5 4 5 3 4 5 4 4 5 4 4

5 5 5 5 4 4 5 1 4 5 4 5

5 4 4 4 4 4 4 3 4 5 5 5

4 4 4 4 4 4 4 4 4 4 4 4

4 4 3 4 3 3 4 3 2 4 3 3

4 5 3 4 4 4 4 4 5 5 5 5

3 3 3 3 3 3 3 3 3 3 3 3

69
4 4 4 5 4 4 3 2 4 4 4 4

3 2 3 3 2 4 3 2 4 2 3 4

3 3 4 3 2 3 2 3 4 2 4 3

Variable Z

SB1 SB2 SB3 SB4 SB5 SB6 SB7 SB8 SB9 SB10

4 4 4 2 4 4 4 4 4 2

5 5 5 5 5 5 5 2 5 2

5 5 5 5 3 5 5 4 5 5

5 4 5 5 2 5 4 2 4 2

5 5 5 4 4 4 5 2 5 1

5 2 5 5 4 5 5 4 4 2

5 5 5 5 1 5 5 1 5 5

4 5 5 5 5 5 5 4 5 4

5 5 5 4 4 4 4 4 5 4

5 5 5 5 2 5 5 5 5 5

5 4 5 5 4 5 5 4 5 2

5 4 5 5 4 5 5 4 5 2

5 5 5 4 4 4 5 4 4 2

5 5 5 5 4 5 4 4 5 5

5 5 5 5 5 5 5 5 5 5

5 5 5 5 5 5 5 5 5 5

5 3 4 4 3 3 5 4 4 3

70
5 4 5 5 4 5 5 2 4 1

5 5 5 5 2 2 5 3 2 1

5 4 2 2 2 4 4 4 2 4

4 4 4 4 4 4 4 4 4 4

5 2 5 5 2 4 5 2 5 2

4 5 4 4 5 3 5 4 4 3

5 5 5 5 5 4 5 1 5 5

4 4 4 4 3 3 4 3 3 1

5 3 4 4 4 4 5 1 4 2

5 4 4 4 4 4 4 2 4 2

5 2 5 5 2 5 4 1 4 1

5 4 5 4 4 4 4 4 4 5

5 5 5 5 5 5 5 2 5 2

5 5 5 5 5 5 5 1 5 1

4 4 4 3 4 4 5 4 4 3

5 5 5 5 4 5 5 1 5 1

5 5 5 5 2 5 4 3 5 5

5 5 4 5 4 5 4 5 4 5

4 4 4 4 4 4 3 3 4 3

5 5 3 5 4 4 5 4 5 1

4 4 5 3 3 4 3 4 4 2

5 5 5 4 5 5 5 3 5 5

5 4 3 4 4 4 5 2 4 2

71
4 4 4 4 4 4 4 2 4 2

1 1 2 2 1 1 1 2 1 2

5 5 5 5 4 5 5 5 5 5

5 4 3 4 5 4 3 4 5 4

5 5 5 5 4 5 5 5 5 5

5 5 5 5 3 5 5 3 5 3

5 5 5 4 3 5 5 5 5 3

5 5 5 5 5 5 5 5 5 5

5 4 4 5 3 4 4 4 3 5

5 5 5 5 4 5 5 2 4 2

5 5 5 3 2 4 5 5 5 5

5 4 5 5 2 4 5 1 4 5

1 5 5 5 5 5 5 1 3 1

5 5 4 5 4 3 5 5 5 4

5 5 5 5 5 5 5 5 5 5

5 4 5 5 4 5 5 4 4 2

5 4 5 4 4 3 3 2 4 2

5 5 5 2 1 4 2 4 5 1

5 5 5 5 5 5 5 5 5 5

4 4 4 4 5 5 4 4 4 4

3 4 4 2 3 4 5 3 5 2

5 5 5 5 5 5 5 5 5 5

5 5 4 4 4 4 5 5 4 5

72
5 5 4 5 4 5 2 5 4 5

5 5 5 5 5 5 5 5 5 5

5 5 5 5 5 4 4 5 5 5

4 4 4 4 4 4 4 4 5 1

5 5 5 5 4 4 4 4 5 2

5 5 4 4 2 2 4 4 5 4

4 2 3 3 2 4 2 3 5 2

4 5 5 4 4 4 5 4 4 2

5 5 5 5 4 4 2 3 5 1

5 4 5 4 5 5 5 5 5 3

5 5 4 4 3 4 4 4 4 5

5 4 4 5 2 5 5 2 5 4

5 5 5 5 5 5 5 5 5 5

5 5 5 5 5 5 5 5 5 5

5 5 5 5 5 5 5 5 5 5

5 4 2 5 4 4 5 4 5 5

5 4 5 4 2 5 2 2 4 3

5 5 5 4 5 5 5 5 5 5

4 5 4 5 5 5 4 2 4 3

5 4 5 5 5 4 4 3 4 2

4 3 2 2 2 2 2 2 3 5

5 5 5 5 4 4 3 2 3 3

5 4 2 5 3 4 5 5 3 5

73
5 5 5 3 4 5 5 3 4 4

5 5 5 3 2 3 3 2 3 1

5 5 4 4 4 4 5 2 4 4

4 4 4 4 4 5 5 4 4 4

5 4 3 4 4 4 4 3 4 3

5 5 5 5 5 5 5 5 5 5

4 4 4 3 3 3 5 3 4 3

5 5 5 3 3 3 4 3 3 3

2 4 5 4 3 4 4 2 4 2

5 5 5 5 5 5 5 4 5 5

2 3 2 4 3 2 4 2 3 2

5 5 5 5 3 4 5 2 4 4

4 4 4 4 4 4 4 4 4 4

4 4 4 4 4 4 4 4 4 4

5 5 4 2 3 5 4 4 3 2

5 5 2 4 5 2 5 1 1 4

4 5 3 3 4 5 5 3 4 4

5 2 5 2 2 5 3 2 3 2

4 4 4 4 4 4 4 4 4 2

4 4 5 5 4 5 5 3 5 3

3 4 4 4 4 4 5 1 4 3

3 3 3 3 3 3 3 3 3 3

5 5 5 5 5 5 5 5 5 5

74
5 5 4 4 5 5 5 3 3 4

5 5 5 5 1 4 3 1 3 1

3 3 4 4 3 4 4 3 3 3

5 5 5 5 4 5 4 2 5 1

4 4 4 4 4 4 3 4 4 4

5 5 5 5 5 5 5 5 5 5

3 4 5 5 5 4 4 4 4 2

1 1 5 1 1 1 1 1 1 5

5 5 5 5 4 3 5 5 5 5

5 5 5 5 5 5 5 5 5 5

4 3 4 3 4 3 3 3 4 3

5 5 2 2 1 2 3 3 2 2

3 3 3 3 3 3 3 3 4 3

4 4 4 4 3 4 4 2 3 2

5 5 3 3 3 4 4 2 4 2

4 4 4 4 4 4 4 4 4 4

4 4 4 4 4 4 4 4 4 4

5 5 5 5 5 5 5 2 5 5

3 3 4 4 1 4 5 1 3 1

2 5 4 4 5 4 4 3 4 1

5 5 3 4 4 5 3 4 5 5

4 5 4 4 5 5 4 4 3 4

5 3 3 3 3 3 3 3 3 3

75
5 3 3 3 3 3 3 3 3 3

5 5 5 4 5 5 5 3 4 2

5 2 5 5 3 5 4 2 4 3

4 2 5 5 4 5 4 1 5 2

5 5 5 5 5 5 5 1 5 5

5 5 5 5 5 5 5 5 5 4

5 5 5 5 5 5 5 4 5 5

5 5 5 5 5 5 5 3 5 1

5 5 5 4 5 5 5 5 5 3

4 4 5 5 2 4 4 2 4 2

3 3 3 3 3 3 3 3 3 3

4 3 4 3 2 4 3 2 3 2

5 5 5 5 4 5 5 5 5 5

5 3 3 4 3 3 5 3 5 5

5 5 5 5 5 5 5 5 5 5

4 4 4 3 5 4 4 5 3 2

4 4 4 3 3 4 4 2 4 4

5 5 5 5 4 5 4 5 5 2

5 5 5 5 5 5 5 3 3 3

5 4 4 4 4 4 4 4 4 5

5 5 4 5 1 4 1 1 3 1

5 5 5 5 5 5 5 4 4 5

5 5 5 5 3 5 2 4 3 1

76
5 4 4 4 4 4 4 4 5 2

4 3 2 2 3 4 4 2 3 2

5 3 3 2 2 2 4 2 4 2

4 4 4 4 4 3 4 2 4 2

5 5 5 5 5 5 5 5 5 5

5 5 5 4 5 4 5 1 5 1

5 5 5 5 4 5 5 2 5 5

4 4 4 4 4 4 4 4 4 4

5 4 4 4 5 4 5 4 5 3

5 3 4 4 4 4 4 2 2 2

2 2 2 3 2 4 4 2 2 2

5 5 4 4 5 5 4 4 4 4

3 2 5 4 3 4 3 2 4 1

1 5 3 5 4 5 4 2 4 1

5 4 4 3 4 3 4 2 4 2

4 4 3 4 3 3 2 2 4 2

3 3 3 3 3 3 3 3 3 3

5 4 5 3 3 4 4 4 4 2

4 4 4 4 4 4 4 4 4 4

5 4 5 5 4 2 4 2 2 2

5 5 4 5 5 5 4 5 4 5

2 5 5 5 3 5 5 2 5 2

4 4 4 4 4 4 4 4 4 4

77
4 4 4 3 5 4 4 4 3 4

5 4 5 4 3 3 4 2 3 2

5 5 5 5 5 5 5 5 5 5

3 5 4 4 3 3 4 1 2 1

5 5 4 2 5 3 5 4 5 4

5 5 5 5 5 5 5 5 5 5

5 4 4 5 4 4 5 2 5 1

3 4 4 5 5 5 4 4 3 2

4 5 5 5 3 5 5 3 5 5

5 4 5 4 4 4 4 4 4 4

5 5 5 5 5 5 5 5 5 4

3 3 3 3 3 3 3 3 3 3

5 5 5 5 5 5 5 5 5 5

5 4 5 2 4 5 5 1 4 1

5 5 5 5 2 3 5 5 5 2

5 5 5 5 5 4 5 2 4 1

3 4 5 5 4 5 3 4 5 4

5 5 3 5 5 3 5 5 5 3

5 3 5 2 5 2 2 1 5 5

5 4 5 4 5 4 4 3 4 3

5 4 4 3 2 3 3 2 3 1

5 5 5 1 2 1 2 2 2 1

3 4 4 3 2 3 3 4 4 2

78
5 5 2 2 4 3 4 5 5 5

5 5 5 5 5 5 5 5 2 1

5 5 5 5 5 5 5 5 5 5

5 3 3 3 3 5 3 3 5 1

5 4 4 4 4 4 4 4 4 4

5 5 5 5 5 5 5 4 4 5

5 5 5 5 4 5 5 3 5 3

4 5 5 4 3 4 5 4 5 5

5 5 4 5 3 5 5 5 5 4

5 5 5 5 5 5 4 4 4 4

4 4 4 5 4 4 4 4 4 4

4 4 4 4 4 4 4 4 4 4

4 5 4 5 4 5 4 5 4 5

3 3 3 3 3 3 3 3 3 3

5 5 5 4 3 4 5 4 4 3

3 4 3 4 4 3 4 1 4 3

5 5 4 3 3 2 3 4 3 2

79
 Table 3.1
Operational Definition of Variable

Variable Statement Source

I understand financial terms and concepts (Widyastuti,

Suhud, &
I can use combinations of skills, resources and
Sumiati,
knowledge to make financial decisions
2016)

Financial I understand how to invest well

(Thung, Kai,
Literacy I understand financial instruments such as: savings
and deposits Nie, Chiun, &

I can manage my money without difficulty Tsen, 2012)

I can make informed effective financial choices

(Amponsah,
Financial information or advice influence my
decision to deliberately save 2015)

I follow my parents example in managing my money

I always discuss about managing money with my

parents

I find it helpful when my parents control my (Thung, Kai,

Family
spending Nie, Chiun, &
Influence
I follow my parents advice in how saving my money Tsen, 2012)

I save money to help my parents lessen their

spending on me

I was taught to save for when I was a child

Peer I know that my friends have a saving account (Thung, Kai,

80
Influence I discuss with my friends when I face money Nie, Chiun, &

management issue Tsen, 2012)

I always compare the amount of saving and spending

with my friends.

I always involve in money spending activities with

friends

My friends and peers have been the greatest influence

(Sallie, 2015)
on how I make financial decisions

Modified

from

(Soltanian,
My friends encourage me to save
Zailani,

Iranmanesh,

& Aziz, 2016)

I am confident about my money management skill

(Jorgensen,
I am eager to improve my financial knowledge
Financial
I am interested in saving instrument such as:
Literacy of
investment and saving
College
Financial I spend less than my income
Students:
Attitude I plan and implement ergular saving or investment
Parental and
program
Peer
I feel in control of my financial situation
Influences,
I feel I could use my future income to achive my
2007)
financial goals

81
 I am uncertain about where my money is spent

I feel capable of handling my financial futute

I feel saving is important

I feel enjoy and having interest in reading about

money management

I feel enjoy talking about money management issues

I save for future purpose

I compare prices before buying thing in order to save

I often consider the real necessity of item before I

(Thung, Kai,
buy thing in order to save
Nie, Chiun, &
I always save by following personal planned monthly
Tsen, 2012)
budget

Saving I plan to reduce my expenses in order to save

Behavior I save to achieve a certain goals

I have several type of saving (investment, savings,

(O'Neill &
deposits, etc.)
Xiao, 2012)
I increase my savings when I receive a higher salary

I have a saving account (Hilgert &

Hogarth,
I have emergency account
2003)

82
 Table 4.1
KMO and Barlett’s test Result
KMO Barlett’s test

Variable X 0.819 0.000

Variable Y 0.652 0.000

Variable Z 0.782 0.000

Table 4.2
Dependent Variable Communalities Result
Communalities

Initial Extraction

SB4 1.000 .643

SB6 1.000 .682

SB7 1.000 .578

SB9 1.000 .586

Extraction Method: Principal

Component Analysis.

Table 4.3
Financial Attitude Communalities Result
Communalities

Initial Extraction

FA7 1.000 .729

FA9 1.000 .745

FA12 1.000 .531

Extraction Method: Principal

Component Analysis.

83
 Table 4.4
Independent Variable Communalities Result
Communalities

Initial Extraction

FL1 1.000 .649

FL2 1.000 .676

FL3 1.000 .690

FL6 1.000 .634

FL7 1.000 .543

FI1 1.000 .640

FI2 1.000 .712

FI3 1.000 .676

FI4 1.000 .732

PI2 1.000 .512

PI3 1.000 .560

PI4 1.000 .516

PI5 1.000 .747

PI6 1.000 .624

Extraction Method: Principal

Component Analysis.

84
 Table 4.5
Total Variance Explained Independent Variable
Total Variance Explained

Extraction Sums of Squared Rotation Sums of Squared

Initial Eigenvalues
Comp Loadings Loadings

onent % of Cumulat % of Cumulati % of Cumulati

Total Total Total
Variance ive % Variance ve % Variance ve %

1 4.898 34.983 34.983 4.898 34.983 34.983 3.233 23.092 23.092

2 2.494 17.811 52.794 2.494 17.811 52.794 2.939 20.992 44.084

3 1.519 10.853 63.647 1.519 10.853 63.647 2.739 19.563 63.647

4 0.851 6.077 69.724

5 0.776 5.539 75.263

6 0.579 4.134 79.398

7 0.476 3.398 82.796

8 0.447 3.19 85.986

9 0.427 3.049 89.035

10 0.375 2.675 91.71

11 0.351 2.509 94.219

12 0.314 2.245 96.464

13 0.289 2.063 98.527

14 0.206 1.473 100

Extraction Method: Principal Component Analysis.

85
 Table 4.6
Total Variance Explained Financial Attitude
Total Variance Explained

Extraction Sums of Squared

Initial Eigenvalues
Loadings
Component
% of Cumulative % of Cumulative
Total Total
Variance % Variance %

1 2.006 66.876 66.876 2.006 66.876 66.876

2 0.638 21.267 88.143

3 0.356 11.857 100

Extraction Method: Principal Component Analysis.

Table 4.7
Total Variance Explained Dependent Variable
Total Variance Explained

Extraction Sums of Squared

Initial Eigenvalues
Loadings
Component
% of Cumulative % of Cumulative
Total Total
Variance % Variance %

1 2.489 62.222 62.222 2.489 62.222 62.222

2 0.561 14.028 76.25

3 0.552 13.805 90.055

4 0.398 9.945 100

Extraction Method: Principal Component Analysis.

86
 Table 4.8
Component Matrix of Independent Variable
Rotated Component Matrixa

Component

1 2 3

FL1 0.788

FL2 0.789

FL3 0.829

FL6 0.789

FL7 0.71

FI1 0.765

FI2 0.778

FI3 0.766

FI4 0.848

PI2 0.604

PI3 0.693

PI4 0.704

PI5 0.854

PI6 0.756

Extraction Method: Principal

Component Analysis.

Rotation Method: Varimax with

Kaiser Normalization.a

a. Rotation converged in 5 iterations.

87
 Table 4.9
Component Matrix of Financial Attitude
Component Matrixa

Component

FA7 0.854

FA9 0.863

FA12 0.729

Extraction Method: Principal

Component Analysis.

a. 1 components extracted.

Table 4.10
Component Matrix of Saving Behavior
Component Matrixa

Component

SB4 0.802

SB6 0.826

SB7 0.76

SB9 0.765

Extraction Method: Principal

Component Analysis.

a. 1 components extracted.

88
 Table 4.11
Reliability Test Result
Variables Cronbach's Alpha N of Items

Family Influence 0.836 4

Peer Influence 0.818 5

Financial Literacy 0.854 5

Financial Attitude 0.737 3

Saving Behavior 0.797 4

Table 4.12
Financial Literacy Data Summary
Scale
Statement 1 2 3 4 5
f % f % f % f % f %
I understand
financial terms and 5 2.3% 17 7.8% 58 26.6% 91 41.7% 47 21.6%
concepts
I understand how to
10 4.6% 40 18.3% 46 21.1% 87 39.9% 35 16.1%
invest well
I understand
financial instruments
7 3.2% 16 7.3% 45 20.6% 89 40.8% 61 28.0%
such as: savings and
deposits
Financial information
or advice influence
9 4.1% 16 7.3% 40 18.3% 102 46.8% 51 23.4%
my decision to
deliberately
I can manage my
money without 9 4.1% 29 13.3% 55 25.2% 84 38.5% 41 18.8%
difficulty
I can use
combinations of
skills, resources and 6 2.8% 17 7.8% 38 17.4% 109 50.0% 48 22.0%
knowledge to make
financial decisions
I can make informed
effective financial 6 2.8% 23 10.6% 54 24.8% 97 44.5% 38 17.4%
choices

89
 Table 4.13
Family Influence Data Summary
Scale
Statement 1 2 3 4 5
f % f % f % f % f %
I follow my parents
example in
8 3.7% 33 15.1% 40 18.3% 82 37.6% 55 25.2%
managing my
money
I always discuss
about managing
22 10.1% 55 25.2% 40 18.3% 70 32.1% 31 14.2%
money with my
parents
I find it helpful
when my parents
26 11.9% 36 16.5% 51 23.4% 66 30.3% 39 17.9%
control my
spending
I follow my parents
advice in how to 10 4.6% 27 12.4% 49 22.5% 92 42.2% 40 18.3%
save my money
I save money to
help my parents
9 4.1% 15 6.9% 41 18.8% 72 33.0% 81 37.2%
lessen their
spending on me
I was taught to
save for when I 8 3.7% 5 2.3% 26 11.9% 74 33.9% 105 48.2%
was a child

90
 Table 4.14
Peer Influence Data Summary
Scale
Statement 1 2 3 4 5
f % f % f % f % f %
I know that my
friends have a 6 2.8% 12 5.5% 38 17.4% 66 30.3% 96 44.0%
saving account
I discuss with my
friends about
advantages and 26 11.9% 53 24.3% 45 20.6% 58 26.6% 36 16.5%
disadvantages of
savings
I always compare
the amount of saving
40 18.3% 52 23.9% 37 17.0% 59 27.1% 30 13.8%
and spending with
my friends
I always involve in
money spending
13 6.0% 34 15.6% 52 23.9% 80 36.7% 39 17.9%
activities with
friends
My friends and
peers have been the
greatest influence on 23 10.6% 48 22.0% 49 22.5% 63 28.9% 35 16.1%
how I make
financial decisions
My friends
encourage me to 28 12.8% 43 19.7% 54 24.8% 62 28.4% 31 14.2%
save

91
 Table 4.15
Financial Attitude Data Summary
Scale
Statement 1 2 3 4 5
f % f % f % f % f %
I am confident about
my money
4 1.8% 32 14.7% 48 22.0% 91 41.7% 43 19.7%
management skill218
responses
I am eager to improve
my financial 3 1.4% 5 2.3% 26 11.9% 91 41.7% 93 42.7%
knowledge
I am interested in
saving instrument such
3 1.4% 9 4.1% 35 16.1% 79 36.2% 92 42.2%
as: investment and
saving
I spend less than my
3 1.4% 24 11.0% 57 26.1% 81 37.2% 53 24.3%
income
I plan and implement
regular saving or 9 4.1% 31 14.2% 51 23.4% 82 37.6% 45 20.6%
investment program
I feel in control of my
5 2.3% 23 10.6% 46 21.1% 96 44.0% 48 22.0%
financial situation
I feel I could use my
future income to
5 2.3% 16 7.3% 46 21.1% 82 37.6% 69 31.7%
achive my financial
goals
I am uncertain about
where my money is 22 10.1% 58 26.6% 43 19.7% 64 29.4% 31 14.2%
spent
I feel capable of
handling my financial 3 1.4% 19 8.7% 48 22.0% 102 46.8% 46 21.1%
future
I feel saving is
2 0.9% 3 1.4% 19 8.7% 57 26.1% 137 62.8%
important
I feel enjoy and having
interest in reading
12 5.5% 26 11.9% 53 24.3% 75 34.4% 52 23.9%
about money
management
I feel enjoy talking
about money 13 6.0% 25 11.5% 43 19.7% 75 34.4% 62 28.4%
management issues

92
 Table 4.16
Saving Behavior Data Summary
Scale
Statement 1 2 3 4 5
f % f % f % f % f %
I have a saving account 4 1.8% 5 2.3% 17 7.8% 45 20.6% 147 67.4%
I save for future purpose 2 0.9% 9 4.1% 22 10.1% 71 32.6% 114 52.3%
I compare prices before
buying thing in order to 0 0.0% 11 5.0% 23 10.6% 68 31.2% 116 53.2%
save
I often consider the real
necessity of item before
2 0.9% 15 6.9% 30 13.8% 70 32.1% 101 46.3%
I buy thing in order to
save
I always save by
following personal 8 3.7% 24 11.0% 44 20.2% 76 34.9% 66 30.3%
planned monthly budget
I plan to reduce my
expenses in order to 3 1.4% 10 4.6% 31 14.2% 80 36.7% 94 43.1%
save
I save to achieve a
3 1.4% 10 4.6% 27 12.4% 74 33.9% 104 47.7%
certain goals
I have several type of
saving (investment, 21 9.6% 48 22.0% 37 17.0% 65 29.8% 47 21.6%
savings, deposits, etc.)
I increase my savings
when I receive a higher 3 1.4% 9 4.1% 35 16.1% 81 37.2% 90 41.3%
salary
I have emergency
31 14.2% 54 24.8% 34 15.6% 38 17.4% 61 28.0%
account

93
 Table 4.17
Model Fit of Structural Model
Indicator Criteria Result Model Fitness

p-value < 0.05 0.000 Good-fit Model

NFI 0<x<1 0.850 Good-fit Model

TLI 0<x<1 0.906 Good-fit Model

CFI > 0.90 0.922 Good-fit Model

RMSEA 0.05 < x < 0.08 0.064 Good-fit Model

Table 4.18
Regression Weights
Estimate S.E. C.R. P Label

FA <--- FL .546 .074 7.370 ***

SB <--- FI .039 .064 .607 .544

SB <--- PI .086 .079 1.088 .277

SB <--- FL .223 .088 2.541 .011

SB <--- FA .416 .102 4.089 ***

FL2 <--- FL 1.000

FL1 <--- FL .831 .071 11.638 ***

FL3 <--- FL .956 .086 11.090 ***

FL6 <--- FL .742 .080 9.295 ***

FL7 <--- FL .697 .082 8.504 ***

FI2 <--- FI 1.000

FI1 <--- FI .658 .076 8.640 ***

94
 Estimate S.E. C.R. P Label

FI3 <--- FI .954 .084 11.301 ***

FI4 <--- FI .702 .071 9.874 ***

PI3 <--- PI 1.000

PI2 <--- PI .948 .107 8.884 ***

PI4 <--- PI .607 .096 6.336 ***

PI5 <--- PI .852 .113 7.535 ***

PI6 <--- PI .879 .114 7.715 ***

FA9 <--- FA 1.000

FA7 <--- FA 1.092 .107 10.173 ***

FA12 <--- FA .914 .118 7.724 ***

SB4 <--- SB 1.000

SB6 <--- SB 1.030 .106 9.734 ***

SB7 <--- SB .884 .103 8.570 ***

SB9 <--- SB .882 .102 8.614 ***

95
 Figure 1.1
Overlap PC/Laptop & Mobile Gaming

(From Mobile To PC Games: The Big Screen Opportunity In Southeast Asia,

2016)

Figure 1.2
Indonesia's PC and Laptop Active Online Gamers

(The Indonesian Gamer | 2017, 2017)

96
 Figure 1.3
Indonesia’s Telkomsel Users that Play Online Games

(The Indonesian Gamer | 2017, 2017)

Figure 3.1
Theoretical Framework

97
 Figure 4.1
Respondents' Gender Chart

Respondents' Gender

Female
41%
Male
59%

Figure 4.2
Respondents' Age Chart

Respondents' Age

35%
< 20 years (tahun)
> 20-30 years (tahun)
65%

98
 Figure 4.3
Respondents' Domicile Chart

Respondents' Domicile

Jakarta
82 Bogor
109 Depok
Tangerang
Bekasi
14
2 11

Figure 4.4
Respondents' Working Status Chart

Respondents' Working Status

No
29%

Yes
71%

99
 Figure 4.5
Respondents' Profession Chart

Respondents' Profession
Students Officer Freelance Entrepeuner Other

2% 3% 2%

12%

81%

Figure 4.6
Respondents' Monthly Income Range Chart

Respondents' Monthly Income Range

13%
3%
< 2.000.000
5%
> 2.000.000 – 3.000.000
50% > 3.000.001 – 4.000.000
> 4.000.001 – 5.000.000

29% > 5.000.001

100
 Figure 4.7
Result of Structural Equation Modeling (SEM)

101