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Journal : Al-Kharaj: Jurnal Ekonomi, Keuangan

Pengaruh Overconfidence Dimoderasi Gender terhadap Keputusan Investasi pada Generasi Milenial di Karawang Simbolon; Paulina Karolin; Situngkir, Tiar Lina
Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol. 6 No. 11 (2024): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v6i11.3411

Abstract

This research aims to examine the influence of overconfidence on investment decisions of the millennial generation in Karawang and evaluate whether gender variables can moderate this relationship. This research uses a survey research design. There is an independent variable, namely overconfidence and a dependent variable (dependent) investment decisions. This research focuses on the millennial generation population in Karawang, which numbers around 1,029,290 people. Meanwhile, the sample used was the millennial generation in Karawang who were active in investment activities, totaling 268 respondents. In this research, verification analysis uses Simple Linear Regression Analysis to test whether or not there is an influence of overconfidence on investment decisions. The next test to see whether the influence of the moderating variable (gender) can strengthen or weaken the overconfidence variable on investment decisions, the Moderated Regression Analysis (MRA) test is used. The research the results show that overconfidence has an influence on the investment decisions of the millennial generation. This generation tends to make investment decisions with a high level of self-confidence, which can lead to investment risks. However, gender is not able to moderate the relationship between overconfidence and investment decisions, meaning that both men and women show the same pattern regarding the influence of overconfidence on their investment decisions. Based on these findings, it is recommended to improve financial education to help the millennial generation make more rational and wise investment decisions.
Pengaruh Net Profit Margin dan Debt to Equity Ratio Terhadap Kebijakan Dividen Perusahaan BUMN di BEI: Studi Kasus Periode 2012-2021 Shalsya, Nabilla; Situngkir, Tiar Lina
Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol. 6 No. 12 (2024): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v6i12.3693

Abstract

The aim of this research is to discover, explain and conduct analysis regarding the impact of profitability (NPM) and leverage (DER) on the dividend policy of state-owned companies listed on the IDX for the 2012-2021 period. Quantitative methods with descriptive and verification approaches were used in the research. There were 20 state-owned companies that were the population in the research, then a purposive sampling technique was carried out so that 7 state-owned companies were selected that met the criteria. Panel data regression analysis is a data analysis method in research. In panel data regression testing, the results obtained were that the panel data regression model formed was a fixed effect model (FEM). Apart from that, a classical assumption test was also carried out. The research results show that profitability (NPM) and leverage (DER) simultaneously influence dividend policy in state-owned companies listed on the Indonesia Stock Exchange for the 2012-2021 period. Partially profitability (NPM) has no influence and is not significant on dividend policy, while leverage (DER) has an influence and is significant on dividend policy. The results of the analysis of the coefficient of determination show that the profitability (NPM) and leverage (DER) variables of 56.78% can predict dividend policy, while the remaining 43.22% is influenced by other factors not examined in the research.
Overconfidence Bias Pada Indeks LQ45 di Bursa Efek Indonesia Nurmala Suci Lestari; Situngkir, Tiar Lina
Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol. 7 No. 1 (2025): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v7i1.3975

Abstract

The study aims to determine whether there is an effect of overconfidence bias on the Indonesia Stock Exchange for the period 2014-2023. Overconfidence bias is a behavioral anomaly that occurs in the capital market and is related to investment returns with investor capabilities, where investors will become overconfident and trade aggressively in the following period. The limited research on Behavioral Finance Macro (BFMA,) and as well as the absence of research that details the results in ten-year, five-year, and annual periods make this research interesting. The method used in the research is Vector Autoregression (VAR) with a population of all companies in the LQ45 Index for the period 2014-2023 and a sample of 15 companies that are consistently included in the LQ45 Index during the study period using weekly close price data. The research hypothesis can be answered through the estimation of the VAR model and Impulse Response Function (IRF). Consistent with the research hypothesis, there is a positive and significant relationship between return markets and trading volume. The results of the analysis using the VAR model show that there is an effect of overconfidence bias on the Indonesia Stock Exchange in the 5-year period, namely 2014-2018 and in the annual period, namely 2015, 2018 and 2021.
Co-Authors Achmadtyar Fazrul Haq, Abidzar Adelin, Putri Adidjaya, Fawwaz Rippa Gilardi Agnia, Ilma Syarifah Aji, Indra Setiawan Aji, Sekar Nirwana Ros Sinta Akbar, Silvia Alfattaah, Muhammad Syahid Almadina, Hazzel Sasti Althafunnisa, Hanof Amalia, Luthfi Thoriq Amelia, Melani Putri Ananda, Daffa Dwi Apriyanti, Ariska Astari, Chika Putri Astuti, Asti Aulia, Rahma Dini Awaludin, Qobus Rayhaan Al Ayuningtyas, Frista Rahma Az Zahra, Faza Amaliah Azzahra, Naswa Natania Azzahra, Raisya Putri Syafna Azzahra, Revaneyna Ba’Gubair, Sana’a Mohammed Awwadh Dhia Husniah Dimara, Sakti Hikmal Enriza, Mohamad Hafizh Fadilah, Rifky Fadillah, Rifky Fatmawati, Aulia Eka Fitri Wulansari Fuadah, Siti Rohmatul Heri, Ferdiansyah Holifah, Siti Husnina, Najla Nurul Husnina, Najla Nurul , Jundullah, Muhammad Miqdad Karolin, Simbolo, Paulina Khasanah, Isnaeni Nur Khoerunnisa, Najwa Khoirunnissa, Nur Alifah Khotimah, Novy Fitri Kusumawardaya, Vandita Larasati, Aisha Dwi Larasati, Dian Ayu Lastari, Devi Suci Latuffaturissa, Alfia Lestari, Sri Ayu Maharani, Chika Maharani, Septia Putri Marsyantrinisa, Yossy Marsyatrinisa, Yossy Millasyifa, Nadya Muawiyah, Salma Safitri Naufal, Hilman Muhamad Novelina, Riani Rahma Nuranjani, Dini Nurhajijah, Ristia Nurhasanah, Salma Nurinsyirah, Aura Nazwa Nurmala Suci Lestari Nuthajijah, Ristia Pamungkas, Wisnu Bayu Paulina Karolin Priambudi, Priambudi Putra, Seldy Chandra Putri, Alya Rachmansyah, Fachridwan Ramadan, Ahmad Saeful Ramadhan , Mulky Ismail Ramadhan, Muhammad Rizki Ramadhan, Mulky Ismail Risma Risma, Risma Salis, Mochamad Ikhsan Saputra, Abdillah Rizky Sasmita, Tegar Permata Sekarsari, Dewi Shafa, Lizha Nur Shalsya, Nabilla Shofiya, Ajeng Salwa Sidik, Nur Halimah Simbolon Sinta Aji, Sekar Nirwana Ros Sodik, Fajar Japar Subarkah, Gabryel Abiyyu Sukriyansyah, Deden Sulistyawati, Amalia Sutardi, Fitrah Diraya Syaharani, Rizka Dwi Wahyuni, Fitri Permata Wicaksono, Dean Wijaya, Sandika Naufal Fawaz Wijaya, Sandika Naufal Fawwaz Yuniar, Awaliyah Fadya Zamanda, Davia Zhafira, Amara Nayla Zharifah, Aidah Inas