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THE IMPACT OF OVERCONFIDENCE AND OPTIMISM ON INVESTMENT DECISION ON INDIVIDUAL INVESTOR IN INDONESIA Reni Rezki Pratiwi; Farah Margaretha Leon
Jurnal Akuntansi VOL. 19, NO. 2, JULI - DESEMBER 2019
Publisher : Jurnal Akuntansi

Show Abstract | Download Original | Original Source | Check in Google Scholar

This study aims to analyze the impact of Overconfidence and Optimism on Investment Decisions on Individual Investors in Indonesia. The data used in this study was obtained by spreading 200 questionnaires on individual investors, but a decent processed as many as 151 questionnaires using a likert scale. The research design used is hypothesis testing, while the analysis tool used is SPSS by using multiple regression method and correlation method. The results of this study indicate that there is no influence overconfidence on investment decisions and second hypothesis of this study there is a positive influence of optimism on investment decisions. The implication of this study is that investment managers should be able to offer high return portfolio despite high risk because there is optimism factor at the moment of decision making and for investor although having high level of optimism it is necessary to consider the risk in each investment decision.Keywords: investment decision, overconfidence, optimism

PENGARUH PAJAK TERHADAP HUTANG PADA SEKTOR PROPERTI DAN REAL ESTATE DI INDONESIA Yasmin Nugraha Putri; Galuh Refadias Ayuni; Farah Margaretha Leon
Jurnal Akuntansi Vol. 20 No. 2, JULI - DESEMBER 2020
Publisher : Jurnal Akuntansi

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This research was conducted to examine the effect of tax aggression and sales on financial leverage. The sample used in this study is property and real estate companies listed on the Indonesia Stock Exchange (IDX) for the 2014-2018 period. Sampling can be analyzed by purposive sampling to obtain 35 property and real estate companies that can be taken. The dependent variable is the financial leverage received using debt. Tax aggression and sales as an independent variable using taxes expense and sales. Whereas net income, market book ratio, and firm size are the control variables of net income, stock price, total shares, total equity, and firm size. Panel data regression methods, and individual tests (t-test) were used in this study. The results showed that sales, net income, market to book ratio and firm size had significant to financial leverage. While the tax aggression does not affect financial leverage. The implication of this research is for financial managers to be able to increase sales, net profits, internal fund and total company assets. Further researchers should use the other variables to measure the financial leverage such as free cash flow. The novelty in this research is to use effective tax rates to measure tax aggression where in previous research using scale by total assets to measure tax aggression. Keywords: financial leverage; firm size; market to book ratio; net income; sales; tax aggresion

The Effect Between Behavioral Biases and Investment Decisions Moderated by Financial Literacy on the Millennial Generation in Jakarta Natasya Natasya; Dyah Hayu Kusumastuti; Widya Alifia; Farah Margaretha Leon
The Accounting Journal of Binaniaga Vol 7, No 1 (2022): June 2022
Publisher : STIE Binaniaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33062/ajb.v7i1.502

Abstract: The purpose of this research was to analyze the effect of financial literacy and behavioral bias on investment decisions in the millennial generation in DKI Jakarta. This research uses quantitative data by distributing questionnaires. The population of this research is people who live in DKI Jakarta and its surroundings. There are as many as 125 respondents in the research conducted. The data collection method used a questionnaire and for the data analysis method in this research using the SEM analysis tool. The findings of this research indicate that overconfidence bias and risk-aversion bias have a significant effect on investment decisions. Meanwhile, herding bias, disposition effect, and financial literacy have no significant effect on investment decisions

Pengaruh Penghindaran Pajak dan Kepemilikan Institusional terhadap Biaya Utang di Industri Makanan dan Minuman Indonesia Vanny Aurelia; Farah Margaretha Leon
The Accounting Journal of Binaniaga Vol 7, No 1 (2022): June 2022
Publisher : STIE Binaniaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33062/ajb.v7i1.503

Praktik penghindaran pajak menjadi perkara yang perlu ditelusuri lebih dalam di Indonesia. Berbeda halnya dengan kepemilikan institusional yang dikatakan dapat mempengaruhi bagaimana kinerja yang dilakukan perusahaan dalam kaitannya terhadap alokasi sumber daya keuangan. Praktik penghindaran pajak yang tinggi dikaitkan dengan biaya utang yang rendah sedangkan adanya proporsi kepemilikan institusional yang besar diharapkan mampu meminimalkan biaya utang. Tujuan dari penelitian untuk melihat pengaruh penghindaran pajak dan kepemilikan institusional terhadap biaya utang. Implikasi penelitian yang telah dilakukan ialah memberikan arahan bagi manajer keuangan untuk mengupayakan peningkatakan pendapatan sebelum pajak perusahaan atau menjual asset perusahaan yang tidak produktif, penggunaan utang yang optimal, peningkatan ukuran perusahaan dari peningkatan aset yang dimiliki perusahaan, serta meningkatkan produktivitas perusahaan. Variabel independen dalam penelitian ialah penghindaran pajak dan kepemilikan institusional. Variabel dependen adalah biaya utang sedangkan variabel kontrol terdiri atas usia perusahaan, rasio utang, kas dari aktivitas operasional, ukuran perusahaan, dan rasio lancar. Penelitian dilakukan dengan mengumpulkan data dari 28 perusahaan sub-sektor makanan dan minuman di Indonesia. Hasil penelitian memaparkan penghindaran pajak, rasio utang, dan ukuran perusahaan berpengaruh negatif sedangkan usia perusahaan berpengaruh positif terhadap biaya utang. Kebaruan dari penelitian ini ialah menambahkan rasio lancar sebagai variabel kontrol yang dinilai terdapat kaitannya dengan biaya utang suatu perusahaan.

Effect of Corporate Governance and Capital Adequacy Ratio to Risk in Banks in Asean- 3 Rizky Mulia; Farah Margaretha Leon; Josephina Endang Purba
Budapest International Research and Critics Institute-Journal (BIRCI-Journal) Vol 5, No 3 (2022): Budapest International Research and Critics Institute August
Publisher : Budapest International Research and Critics University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/birci.v5i3.6046

The purpose of this study is to analyze the effect of corporate governance and the capital adequacy ratio on bank risk. The aspects of corporate governance used are the size of the risk committee, the frequency of meetings of the risk committee, the audit committee, the size of the board of directors, the independence of the board of directors, and institutional ownership, as well as the capital adequacy ratio. Risk variables consist of Credit Risk, Liquidity Risk, and solvency risk. This study also uses asset growth, income diversification, deposit ratio, and government ownership as control variables. The object of research is the banks listed on the Indonesia Stock Exchange, the Malaysia Stock Exchange, and the Thailand Stock Exchange during the 2016-2020 period. This study used purposive sampling method so that 53 banks were obtained as samples. The analytical method used is panel data regression analysis. The results of this study indicate that corporate governance and capital adequacy ratio have significant effect on risk, while the audit committee has no effect on risk. The results of this study provide information that the size of the risk committee, the frequency of risk committee meetings, the size of the board of directors, and institutional ownership can encourage banks to take risks to improve the welfare of shareholders. To control risk, bank managers need to maintain a capital adequacy ratio to absorb risk and investors can encourage the role of independent parties such as risk committees and independent directors to provide input on risk management.

ANTESEDEN DAN KONSEKUENSI DARI COMPULSIVE BUYING BEHAVIOR YANG DIMODERASI OLEH PENGELOLAAN KEUANGAN PADA MAHASISWA YANG BEKERJA DI JABODETABEK Kukus Mantili Asri; Farah Margaretha Leon
JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis dan Inovasi Universitas Sam Ratulangi). Vol 9 No 2 (2022): JMBI UNSRAT Volume 9 Nomor 2
Publisher : FEB Universitas Sam Ratulangi Manado

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35794/jmbi.v9i2.41840

Abstract: This study investigates the determinants of compulsive buying behavior and ascertains the effect of compulsive buying behavior on the tendency of individuals to depend on loans and fall into financial problems. The purpose of this research is to test and obtain empirical evidence related to the factors that influence the nature of a person in spending his money to buy something. The sample in this study amounted to 205 students who are already working in JABODETABEK. Samples were obtained through the distribution of research questionnaires via google form. The data analysis method used Partial Least Square Structural Equation Modeling (PLS-SEM) analysis tool. The findings of this study prove that Materialism, socioeconomic status, time prosperity have a positive effect on compulsive buying behavior and financial management has no effect on compulsive buying behavior, further proving that Financial Management does not moderate the influence between Materialism, social status, time prosperity, loan dependence, on compulsive buying behavior. With this research, it is hoped that it can help students in overcoming compulsive purchases to maintain the stability of expenditures that should have been planned properly in advance to avoid waste that results in financial problems in the future. There is a novelty in this study is adding gender as a control variable.Â Â Â Â Abstrak: Penelitian ini menyelidiki faktor-faktor penentu perilaku pembelian kompulsif dan memastikan efek dari perilaku pembelian kompulsif pada kecenderungan individu untuk bergantung pada pinjaman dan jatuh ke dalam masalah keuangan. Tujuan penelitian adalah menguji dan memperoleh bukti empiris terkait faktor-faktor yang mempengaruhi sifat seseorang dalam mengeluarkan uang nya untuk membeli sesuatu. Sampel dalam penelitian ini berjumlah 205 mahasiswa yang sudah bekerja di JABODETABEK. Sampel diperoleh melalui penyebaran kuisioner penelitian melalui google form. Metode analisis data menggunakan alat analisis Partial Least Square Structural Equation Modelling (PLS-SEM). Temuan dari penelitian ini membuktikan bahwa Materialisme, status sosial ekonomi, kemakmuran waktu berpengaruh positif terhadap perilaku pembelian kompulsif dan manajemen keuangan tidak berpengaruh terhadapÂ perilaku pembelian kompulsif, selanjutnya membuktikan bahwa Manajemen Keuangan tidak memoderasi pengaruh antara Materialisme, status social, kemakmuran waktu, ketergantungan pinjaman, terhadap perilaku pembelian kompulsif. Dengan adanya penelitian ini, diharapkan dapat membantu mahasiswa dalam hal mengatasi pembelian yang komplusif untuk menjaga kestabilan pengeluaran yang seharusnya direncanakan sebelumnya secara benar agar terhindar dari keborosan yang mengakibatkan masalah keuangan dikemudian hari. Terdapat kebaruan dalam studi ini yaitu dengan menambahkan jenis kelamin sebagai variabel kontrol.

Analisis Anteseden Perilaku Manajemen Finansial Pada Generasi Milenial di Indonesia Aishuia; Kusnul Fitriani; Farah Margaretha Leon
Jurnal Manajemen Vol 4 No 2 (2020): Volume 4 No 2 Tahun 2020
Publisher : Fakultas Ekonomi dan Bisnis Universitas Satya Negara Indonesia

Millennial generation is identified as materialism, likes credit card promotions, lacks unrealistic knowledge and optimism about the ability to repay debts and has a lifestyle around spending, which follows a "spend now" and "pay later" pattern, and as a consequence, they have a higher tendency towards loan products. The purpose of this study is to determine whether the factors of financial knowledge, behavior of seeking assistance, electronic banking have an influence on the behavior of millennial generation financial management in Indonesia. The sampling method uses convenience sampling. The analysis technique used in this research is Explotary Factor Analysis (EFA) processed using SPSS then Confirmatory Factory Analysis (CFA) and Structural Equation Modeling (SEM) processed using Analysis of Moments Structures (AMOS). The results showed that there was a significant influence on the behavior of seeking assistance and electronic banking on the behavior of millennial generation financial management in Indonesia, otherwise the financial knowledge variable did not affect financial knowledge. This research is useful: for practitioners in the field of finance can take advantage in the utilization of technological aspects (electronic banking) to improve financial management behavior. For financial managers able to focus on various investment and financing decisions, as well as all matters related to it. For investors to reduce the behavior of lack of responsibility in financial management.

THE IMPACT OF OVERCONFIDENCE AND OPTIMISM ON INVESTMENT DECISION ON INDIVIDUAL INVESTOR IN INDONESIA Reni Rezki Pratiwi; Farah Margaretha Leon
Jurnal Akuntansi VOL. 19, NO. 2, JULI - DESEMBER 2019
Publisher : Universitas Kristen Krida Wacana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36452/akunukd.v19i2.1802

This study aims to analyze the impact of Overconfidence and Optimism on Investment Decisions on Individual Investors in Indonesia. The data used in this study was obtained by spreading 200 questionnaires on individual investors, but a decent processed as many as 151 questionnaires using a likert scale. The research design used is hypothesis testing, while the analysis tool used is SPSS by using multiple regression method and correlation method. The results of this study indicate that there is no influence overconfidence on investment decisions and second hypothesis of this study there is a positive influence of optimism on investment decisions. The implication of this study is that investment managers should be able to offer high return portfolio despite high risk because there is optimism factor at the moment of decision making and for investor although having high level of optimism it is necessary to consider the risk in each investment decision.Keywords: investment decision, overconfidence, optimism

PENGARUH PAJAK TERHADAP HUTANG PADA SEKTOR PROPERTI DAN REAL ESTATE DI INDONESIA Yasmin Nugraha Putri; Galuh Refadias Ayuni; Farah Margaretha Leon
Jurnal Akuntansi Vol. 20 No. 2, JULI - DESEMBER 2020
Publisher : Universitas Kristen Krida Wacana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36452/akunukd.v20i2.1974

This research was conducted to examine the effect of tax aggression and sales on financial leverage. The sample used in this study is property and real estate companies listed on the Indonesia Stock Exchange (IDX) for the 2014-2018 period. Sampling can be analyzed by purposive sampling to obtain 35 property and real estate companies that can be taken. The dependent variable is the financial leverage received using debt. Tax aggression and sales as an independent variable using taxes expense and sales. Whereas net income, market book ratio, and firm size are the control variables of net income, stock price, total shares, total equity, and firm size. Panel data regression methods, and individual tests (t-test) were used in this study. The results showed that sales, net income, market to book ratio and firm size had significant to financial leverage. While the tax aggression does not affect financial leverage. The implication of this research is for financial managers to be able to increase sales, net profits, internal fund and total company assets. Further researchers should use the other variables to measure the financial leverage such as free cash flow. The novelty in this research is to use effective tax rates to measure tax aggression where in previous research using scale by total assets to measure tax aggression. Keywords: financial leverage; firm size; market to book ratio; net income; sales; tax aggresion

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