Pengaruh Karakteristik Demografis Dan Literasi Keuangan Terhadap Keputusan Investasi Melalui Behavioral Biases

Main Article Content

Feshia Natalia
Hendra Wiyanto

Abstract

This study aims to determine the influence of demographic characteristics and financial literacy on behavioral biases and investment decisions of stock investors, as well as to determine the influence of behavioral biases on investment decisions and the role of behavioral biases in mediating demographic characteristics and financial literacy on investment decisions of stock investors. The research design used in this research is descriptive research with a quantitative approach. This study uses a nonprobability sampling method with a purposive sampling technique. The data collection method used a questionnaire and obtained a sample of 103 respondents. The data analysis technique in this research is Partial Least Square, using SmartPLS software. The results showed that demographic characteristics, financial literacy and behavioral biases can influence investment decisions in stock investors. Behavioral biases cannot be influenced by demographic characteristics, whereas financial literacy can influence behavioral biases in investors. Besides, behavioral biases cannot mediate the influence of demographic characteristics on investment decisions indirectly, but behavioral biases can partially mediate the influence of financial literacy on investment decisions.


Penelitian ini bertujuan untuk mengetahui pengaruh karakteristik demografis dan literasi keuangan terhadap behavioral biases dan keputusan investasi pada investor saham, serta mengetahui pengaruh behavioral biases terhadap keputusan investasi dan peran behavioral biases dalam memediasi karakteristik demografis dan literasi keuangan terhadap keputusan investasi investor saham. Desain penelitian yang digunakan dalam penelitian ini adalah penelitian deskriptif dengan pendekatan kuantitatif. Teknik pengambilan sampel menggunakan metode nonprobability sampling yaitu purposive sampling. Metode pengumpulan data menggunakan kuesioner dan diperoleh sampel berjumlah 103 responden. Teknik analisis data menggunakan Partial Least Square, dengan sotfware SmartPLS. Hasil penelitian menunjukkan bahwa karakteristik demografis, literasi keuangan dan behavioral biases dapat mempengaruhi keputusan investasi pada investor saham. Behavioral biases tidak dapat dipengaruhi oleh karakterstik demografis, sedangkan literasi keuangan dapat mempengaruhi behavioral biases pada investor. Selain itu, behavioral biases tidak dapat memediasi pengaruh karakteristik demografis terhadap keputusan investasi secara tidak langsung, sedangkan behavioral biases dapat memediasi pengaruh literasi keuangan terhadap keputusan investasi secara sebagian (partial mediation).

Article Details

Section
Articles
Author Biographies

Feshia Natalia, Universitas Tarumanagara

Program Studi Manajemen, Universitas Tarumanagara Jakarta

Hendra Wiyanto, Universitas Tarumanagara

Program Studi Manajemen, Universitas Tarumanagara Jakarta

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