Pengaruh Overconfidence Bias, Mental Accounting Dan Familiarity Bias Terhadap Pengambilan Keputusan Investasi

Abstract


 
 
 
 This study aims to determine and analyze the effect of Overconfidence Bias, Mental Accounting and Familiarity Bias on investment decision making (case studies of victims of illegal binary option investments) either simultaneously or partially. The research method used was descriptive and verification methods. The research population is all victims of illegal Binary Options investment in Indonesia. The sampling technique used was the Probability Sampling Technique with the Simple Random Sampling method. Calculation of the sample in this study using the slovin formula. The data collection technique uses a questionnaire distributed to all victims of illegal Binary Options investment in Indonesia, while the data analysis technique uses multiple regression analysis. The results of the study show that Overconfidence Bias, Mental Accounting and Familiarity Bias simultaneously affect investment decision making. Overconfidence Bias, Mental Accounting and Familiarity Bias partially positive and significant effect on investment decision making.
 
 
 
 
 
 
 
 
 
 
 

Challenges in Millennials Investment Decision: A Study of Behavioural Biases

“…Excessive confidence can impact an investor's decision-making in the context of an investment, as it can pose a risk to the investment. Investors can only make decisions by considering fundamental investment factors, which could potentially jeopardize investment returns [ [3] and Theressa & Armansyah, [1], which stated that overconfidence bias has a significant influence on investment decisions.…”

“…When an investor consistently overestimates himself and underestimates the judgment of others, overconfidence can lead to increased risk in decision-making. Some previous research finds that biased overconfidence bias influences investment decisions [18,12,19,17,3,1]. Based on previous explanations, the researchers presented the following hypothesis: H2: Overconfidence bias has a significant positive influence on investment decisions.…”

“…In investing, investors always pay attention to the potential profits that can be obtained and carefully calculate any costs that have to be incurred during the investmen [2]. An investment decision is one policy in decision-making where an investor is faced with two or more options to obtain future profits from the invested capital [3].…”

Peran Mediasi Toleransi Risiko Dalam Analisis Determinasi Keputusan Investasi Mahasiswa Kota Denpasar

“…Keputusan investasi mengarah pada perilaku keuangan secara psikologi dan dampaknya terhadap pasar, investor akan menggunakan rasionalitas dalam proses berpikir dan mengambil keputusan secara sengaja berdasarkan estimasi (Baihaqqy et al, 2020). Sejumlah penelitian telah menunjukkan hasil pengaruh literasi keuangan sebagai faktor pengetahuan, overconfidence bias dan representatitive bias sebagai faktor psikologi, serta toleransi risiko sebagai upaya mitigasi risiko dalam menentukan keputusan investasi saham (Hamzah, 2022;Yusbardini & Natsir, 2021;Sudirman et al, 2023) Faktor pertama yang memengaruhi keputusan investasi adalah literasi keuangan yaitu pengetahuan dasar yang membentuk pola pikir individu dalam menentukan sikap dan perilakunya untuk meningkatkan kualitas keputusan keuangan guna mencapai kesejahteraan (Ahmad & Shah, 2022;Sawitri et al, 2023). Investor yang terliterasi keuangan dengan baik mencirikan bahwa dirinya telah mampu secara efektif mengelola sumber dananya.…”

“…Overconfidence bias sebagai perilaku keuangan mikro berkaitan dengan kondisi psikologi investor yang menjadi kebiasaan dalam membuat keputusan investasi sedangkan perilaku keuangan makro merujuk pada kondisi anomali di pasar modal (Adiputra, 2021). Asumsi yang berlaku ialah investor merasa telah memiliki informasi cukup untuk membuat keputusan investasi serta adanya kepercayaan keputusan tersebut akan memberikan hasil positif, hal ini menunjukkan bahwa overconfidence bias berpengaruh positif terhadap keputusan investasi (Hamzah, 2022;Yulianis & Sulistyowati, 2021).…”