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Pengaruh Status Quo, Herding Behaviour, Representativeness Bias, Mental Accounting, serta Regret Aversion Bias terhadap Keputusan Investasi Investor Milenial di Kota Surabaya Syifa Aulia Mahadevi; Nadia Asandimitra Haryono
Jurnal Ilmu Manajemen Vol 9 No 2 (2021)
Publisher : UNESA In Collaboration With APSMBI (Aliansi Program Studi dan Bisnis Indonesia)

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (541.921 KB) | DOI: 10.26740/jim.v9n2.p779-793

Abstract

Investment activity in Indonesia steadily increases as more people become aware of the investment's value and potential returns. This study aims to determine the impact of status quo bias, herding behavior, representation, and mental accounting on the investment decisions of millennial investors in Surabaya. This study is conclusive because it used purposive and snowball sampling techniques to obtain samples by distributing online questionnaires”the research sample as many as 241 respondents. The analysis technique uses Structural Equation Model (SEM). This study focuses on millennial investors registered with the Indonesian Central Securities Depository (KSEI) and securities firms in Surabaya. The findings suggest that the variables status quo and regret aversion significantly bias investment decisions, whereas herding behavior, representativeness, and mental accounting do not affect investment decisions. Thus, this study can assist various parties, particularly millennial investors, pay more attention to their biases and be more cautious when making investment decisions
Pengaruh Capital Structure, Activity Ratio, Sales Growth, Firm Size, Dan Inflasi Terhadap Financial Distress Pada Perusahaan Sector Technology Yang Terdaftar Di BEI Periode 2021 - 2024 Syifa Aulia Mahadevi; Ulil Hartono; Nadia Asandimitra Haryono
Management Studies and Entrepreneurship Journal (MSEJ) Vol. 7 No. 6 (2026): Management Studies and Entrepreneurship Journal (MSEJ)
Publisher : Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/wvcy7y44

Abstract

This study examines the effect of capital structure, activity ratio, sales growth, firm size, and inflation on financial distress in technology sector companies listed on the Indonesia Stock Exchange during 2021-2024. The research uses a causal quantitative design with secondary data from annual reports, financial statements, and official inflation data. Financial distress is measured using the Springate S-Score and converted into a dummy variable, where 1 indicates distress and 0 indicates non-distress. Using purposive sampling, 28 companies were selected from 47 technology firms, producing 112 firm-year observations. The data were analyzed using binary logistic regression with Stata 17. The results show that 42 observations or 37.5% were classified as distressed. The model passed the Hosmer-Lemeshow test, achieved 78.57% classification accuracy, and produced an AUC of 0.8565. Activity ratio, firm size, and inflation have a significant negative effect on financial distress, while capital structure and sales growth are not significant. The findings indicate that asset efficiency and company scale are more decisive in reducing financial distress risk than debt structure or sales expansion alone.