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All Journal Community Development Journal: Jurnal Pengabdian Masyarakat Jurnal Ekonomi Bisnis, Manajemen dan Akuntansi (JEBMA) Jurnal Ilmiah Raflesia Akuntansi
Tryana, Ayu Levia
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Humanities Economics, Econometrics & Finance Education Health Professions Public Health Social Sciences Other

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Journal : Jurnal Ilmiah Raflesia Akuntansi

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Pengaruh Overconfidence, Toleransi Risiko, dan Perilaku Keuangan Terhadap Keputusan Berinvestasi di Bursa Efek Indonesia Syahfitri, Diah Intan; Tryana, Ayu Levia
Jurnal Ilmiah Raflesia Akuntansi Vol. 10 No. 2 (2024): Jurnal Ilmiah Raflesia Akuntansi
Publisher : Politeknik Raflesia Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53494/jira.v10i2.664

Abstract

This study aims to analyze the effect of overconfidence, risk tolerance, and financial behavior on investment decisions on the Indonesia Stock Exchange. Using the Structural Equation Modeling (SEM) approach with Partial Least Squares (PLS), this study involved respondents who are millennials and active investors in the Indonesian capital market and live in Sumbawa Regency with a total of 100 respondents. Data was collected through a questionnaire designed to measure the level of overconfidence, risk tolerance, and financial behavior, as well as investment decisions made by respondents. The results of the analysis show that overconfidence has a positive and significant influence on investment decisions, where more confident investors tend to make more aggressive investment decisions. In addition, risk tolerance is also shown to contribute positively in influencing investment decisions, with investors who have high risk tolerance being more willing to invest in riskier instruments. Financial behavior, as a factor that influences the decision-making process, shows a significant relationship to investment decisions. These findings provide insights for investors and financial practitioners in understanding the psychological factors that influence investment decisions in the capital market, as well as the importance of behavior management in improving investment returns.
Co-Authors Akbar, Arya Zulfikar Hambali, Denny Jibrail, Ahmad Martadinata, Sudrajat Nurfadliyah, Nurfadliyah Putri, Novida Halleine Rizqi, Reza Muhammad Sriyatun Sriyatun, Sriyatun Syahfitri, Diah Intan