Isni   Andrian
Universitas Sriwijaya

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Perilaku Investor Dalam Transaksi Saham di Pasar Modal Fahira Dhea Azzahra; Isni   Andrian; Kemas M. Husni Thamrin
Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol 4 No 1 (2022): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Research and Strategic Studies Center (Pusat Riset dan Kajian Strategis) Fakultas Syariah IAI Nasional Laa Roiba

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (498.217 KB) | DOI: 10.47467/alkharaj.v4i1.566

Abstract

This study aims to analyzing the behavior of Palembang investors through cognitive biases and emotional biases that impacting investor’s decision making on stock transaction in the capital market. This decision making proxied by cognitive biases, there are overconfidence bias, represtentativeness bias, anchoring and adjustment bias, availability bias, illusion of control bias, and conservatism bias, also proxied by emotional biases there are self-control bias, optimism bias, loss aversion bias, dan status quo bias. The population of the study are investors whom became partners of securities, those listed in Indonesian Stock Exchange and the securities which stand only in Palembang region. There are 50 investors as sample of this study with purposive sampling as sampling method. The type data of this study is qualitative and the resources of data in this study is primary data with distributing questionnaire. Analyzing method in this study using multivariate analysis Structural Equation Model (SEM) and the result of this study shows that availability bias, conservatism bias, and loss aversion bias have significance effect to Palembang investor’s decision making in 2020. For future research could be able to take other samples from another big cities, as well as conducted research on the relationship between behavioral biases and financing or behavioral biases and health that including demographics and etc.