Article Per Year (5 Year)
p-Index From 2020 - 2025
0.23
P-Index
This Author published in this journals
All Journal Jurnal Keuangan dan Perbankan
Hunik Sri Runing Sawitri
Faculty of Economics and Business, Universitas Sebelas Maret Jl. Ir. Sutami No.36, Surakarta, 57126
Economics, Econometrics & Finance

Published : 1 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 1 Documents
Search

 1 
Investors psychology on the biased investment decision: The mediating effect of extra-motivation to invest Muhammad Zalviwan; Tulus Haryono; Hunik Sri Runing Sawitri
Jurnal Keuangan dan Perbankan Vol 24, No 4 (2020): October 2020
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v24i4.4837

Abstract

This study aims to prove that individual investors' psychology consisting of positive attitude, affective-self affinity, familiarity, trust, and nationalism affects investment decisions mediated by the extra motivation to invest. The data collected through questionnaires were processed and tested for the validity and reliability of the construct. Respondents in this study are individual investors who use psychological considerations as more motivation to make decisions and 404 questionnaires distributed to individual investors. This study uses Partial Least Square (PLS). It passes the fit and quality indices model criteria to determine the strength of this study's structural model before the hypothesis testing is carried out. We found four psychological variables of individual investors (positive attitude, familiarity, trust, and nationalism) that directly affect investment decisions and indirectly with the mediator of extra motivation to invest. Extra incentive to invest is not influenced by affective-self affinity and does not mediate its relationship with investment decisions. We also found that investors with psychological considerations tend to make biased decisions. Investors show behaviour that is overreaction, overconfidence, and risk tolerance (low risk with high return). JEL Classification: F52, G11, G41DOI: https://doi.org/10.26905/jkdp.v24i4.4837
Co-Authors Muhammad Zalviwan Tulus Haryono