PERWIRA - Jurnal Pendidikan Kewirausahaan Indonesia
Vol 5 No 1 (2022): PERWIRA - Jurnal Pendidikan Kewirausahaan Indonesia

Behavioral Factors Analysis in Investment Decision-Making

Anggiat Dumohar (Universitas Prasetiya Mulya, Cilandak Campus, Jl. RA. Kartini (TB Simatupang), Cilandak Barat, Jakarta Selatan 12430)
Dimas Aryotejo (Universitas Prasetiya Mulya, Cilandak Campus, Jl. RA. Kartini (TB Simatupang), Cilandak Barat, Jakarta Selatan 12430)
Nielson Djohan (Universitas Prasetiya Mulya, Cilandak Campus, Jl. RA. Kartini (TB Simatupang), Cilandak Barat, Jakarta Selatan 12430)
Peter Tirto (Universitas Prasetiya Mulya, Cilandak Campus, Jl. RA. Kartini (TB Simatupang), Cilandak Barat, Jakarta Selatan 12430)
Rizki Mulia (Universitas Prasetiya Mulya, Cilandak Campus, Jl. RA. Kartini (TB Simatupang), Cilandak Barat, Jakarta Selatan 12430)



Article Info

Publish Date
14 Jul 2022

Abstract

This study focuses in investigating behavioral factors that affect individual investment decision who actively trading in Indonesia stocks exchange. The paper emphasizes in less developed financial markets (Indonesia) to occupy literature gap. Seven (7) human financial behavior which categorized as heuristic biases are measured by numerous questions under online questionnaire, to examine the relationship between trait anxiety, overconfidence, trait anger, self-monitoring, herding factor, anchoring/adjustment, and availability bias with investment decision. To test the hypothesis, sample of 168 Indonesian Stocks Exchange investors are analyzed using statistical methods of regression and correlation analysis. Relationship of financial behavior biases and investment decision is analyzed on the research. The result indicates that overconfidence and self-monitoring are related with investment decision while trait anger, trait anxiety, herding effect and availability bias, and anchoring and adjustment are not related.

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Journal Info

Abbrev

perwira

Publisher

Subject

Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education

Description

Ranah kajian PERWIRA adalah tema-tema terkini pendidikan dan tata kelola kewirausahaan. Visi penerbitan PERWIRA adalah menjadi acuan akademis tentang pendidikan dan tata kelola kewirausahaan. Misi PERWIRA meliputi: - Memberi sumbangan kajian kewirausahaan dan pengelolaan usaha. - Mengembangkan ...