Anifa, Anis Sukha
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Does The Psychology of Investment Decisions Depend on Risk Perception And Financial Literacy? Anifa, Anis Sukha; Soegiharto, Soegiharto
MAKSIMUM: Media Akuntansi Universitas Muhammadiyah Semarang Vol 13, No 2 (2023): MAKSIMUM: Media Akuntansi Universitas Muhammadiyah Semarang
Publisher : Universitas Muhammadiyah Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26714/mki.13.2.2023.152-163

Abstract

This study examines and analyses the effect of overconfidence, herding effect, and disposition effect bias on investment decisions mediated by risk perception and moderated by financial literacy. The sample for this study uses 184 investors from 19 provinces in Indonesia using a purposive sampling technique. Regression partial least squares test the hypothesis with the Warp-PLS application version. The study's results found that overconfidence bias does not affect risk perception. Herding effect bias and disposition bias have positive effects on risk perception. Risk perception has a positive effect on investment decisions. Risk perception fully mediates the relationship between disposition effect bias on investment decisions. However, risk perception does not mediate the relationship between overconfidence bias and herding effect bias on investment decisions. Meanwhile, financial literacy must moderate the relationship between risk perception and investment decisions. The implication of the study is expected to assist the Financial Services Authority in increasing investors' financial literacy in the capital market.
CLUSTER ANALYSIS OF POVERTY, OPEN UNEMPLOYMENT AND EDUCATION PERCENTAGE IN CENTRAL JAVA FOR THE 2020 PERIOD Anifa, Anis Sukha
Jurnal Ekonomi Balance Vol. 17 No. 1 (2021): (June 2021)
Publisher : Perpustakaan dan Penerbitan Unismuh Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26618/jeb.v17i2.6485

Abstract

This study aims to categorize districts/cities in Central Java Province based on cluster analysis of poverty, open unemployment and education level. The population and sample used in this study are 35 districts/cities in Central Java Province in 2020. The research data was taken from BPS secondary data. Data were analyzed using SPSS application with k-means cluster analysis. The results of this study explain that 35 regencies/cities in Central Java Province are divided into 2 clusters. The characteristics of cluster 1 have values above the average for the variables of poverty and education, but the open unemployment rate is below the average. The characteristics of cluster 2 have values above the average for the open unemployment rate variable, but the poverty and education variables have values below the average. Cluster 1 consists of districts Banyumas, Purbalingga, Banjarnegara, Kebumen, Purworejo, Wonosobo, Magelang, Boyolali, Klaten, Wonogiri, Karanganyar, Sragen, Grobogan, Blora, Rembang, Pati, Demak, Semarang, Temanggung, Pemalang and Brebes. Meanwhile, Cluster 2 consists of the districts of Cilacap, Sukoharjo, Kudus, Jepara, Kendal, Batang, Pekalongan, Tegal. In addition, there are also the cities of Magelang, Surakarta, Salatiga, Semarang, Pekalongan and Tegal.