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Herding behavior, information type, and overconfidence bias: an experimental study on novice investors’ investment decisions Kresnawati, Etik; Sofia, Lina; Utami, Evy Rahman
Journal of Accounting and Investment Vol 25, No 1: January 2024
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v25i1.14823

Abstract

Research aims: By the end of 2023, Indonesian Central Securities Depository data revealed a significant increase in the number of investors dominated by millennial investors (56.41%). They are categorized as novice investors who have distinctive characteristics from professional investors. This study, thus, aims to examine whether herding behavior dominates the characteristics of novice investors and whether information type and overconfidence bias affect the herding behavior of novice investors.Design/Methodology/Approach: This study used a quasi-experimental 2x2 mixed design on 42 student participants who were members of the Capital Market Study Group. The data obtained were then tested using non-parametric statistics.Research findings: The test results uncovered that herding dominated the investment behavior of novice investors. This behavior was supported by the information type that participants paid attention to in making decisions. However, testing for overconfidence demonstrated that this variable was not the cause of novice investors' herding behavior.Theoretical contribution/Originality: The results of this study contribute theoretically to the investment behavior of novice investors by strengthening the argument that they tend to behave herding when making stock investment decisions. Testing with an experimental design allows researchers to confirm that such herding behavior is reinforced by the preference for the information type they use in decision-making. The results also provide insight into the fact that the overconfidence level of novice investors may be different from that of professional investors.Practitioner/Policy implication: The tendency of herding behavior of novice investors needs attention from the Financial Services Authority as a regulator to consider protection for novice investors who dominate the number of investors in the capital market.Research limitation/Implication: The tests in this study employed non-parametric statistics, which are not as good as parametric tests, so the study results should be understood wisely. Future research needs to consider the adequacy of the sample and use capital market groups in several universities to improve sample quality.
Pengaruh Tingkat Pengetahuan Ibu Hamil dengan Tanda Bahaya Kehamilan di Praktik Bidan Bersama Bina Ibunda 2023 Renanti, Malia; Hidayat, Reni; Sofia, Lina
Media of Health Research Vol. 2 No. 1 (2024): Media of Health Research, April 2024
Publisher : Lembaga Publikasi Ilmiah Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/mohr.v2i1.48

Abstract

Warning Signs of Pregnancy are symptoms that can indicate danger during pregnancy, which, if undetected, may lead to the death of both mother and fetus. Therefore, it is essential for pregnant women to recognize these warning signs so they can immediately seek help from the nearest healthcare facility if they experience any of them. The purpose of this study is to assess the level of knowledge among pregnant women regarding pregnancy warning signs at the Bina Ibunda Midwife Joint Practice in 2023. The variables studied include the level of knowledge about various pregnancy warning signs, including those related to preeclampsia, bleeding, premature rupture of membranes, hyperemesis gravidarum, and other warning signs. The research design used is a descriptive study. The population consists of pregnant women at the Bina Ibunda Midwife Joint Practice in 2023, with a sample size of 100 pregnant women. Sampling was conducted in September 2022 using Consecutive Sampling techniques. The results show that most of the pregnant women 84% have a good level of knowledge about pregnancy warning signs, while 16% have a moderate level of knowledge. Specifically, 67% of the women are well-informed about preeclampsia warning signs, 76% have good knowledge of bleeding warning signs, 86% are well aware of premature rupture of membranes, 59% understand the warning signs of hyperemesis gravidarum, and 67% are well-versed in recognizing other warning signs. The conclusion from this study is that the majority of pregnant women have a good level of knowledge about the warning signs of pregnancy.