Behavioural Biases in Investor Decisions

Coleman, Les

doi:10.1007/978-3-319-43976-1_3

Cited by 3 publications

(3 citation statements)

References 63 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Aini dan Lutfi (2019) dalam penelitiannya berhasil mengemukakan adanya pengaruh yang cukup signifikan dari faktor psikologi terhadap seorang investor dalam membuat suatu keputusan investasi di pasar modal. Keputusan investasi biasanya melibatkan yang namanya faktor kognitif (cognitive biases) dan faktor emosi (emotional biases) (Rehan & Umer, 2017).…”

Section: Sumber: Ksei (2019)unclassified

Analisis Pengaruh Behavioural Finance Terhadap Pengambilan Keputusan Investasi Investor di Kepulauan Riau

Candy

Vincent

2021

jesya

View full text Add to dashboard Cite

Perkembangan ekonomi global yang semakin maju dan cepat akibat adanya perkembangan teknologi menyebabkan kegiatan berinvestasi semakin dipermudah. Hal tersebut membuat minat investasi di Indonesia selama empat tahun terakhir berkembang sangat pesat. Akan tetapi, peningkatan jumlah investor dan banyaknya keuntungan yang ditawarkan tidak menggambarkan secara nyata kinerja investasi para investor itu sendiri. Kinerja investasi yang baik juga memiliki korelasi kuat dengan pengambilan keputusan investasi yang baik dan rasional. Seorang investor yang baik biasanya akan membuat suatu keputusan investasi yang rasional, tetapi nyatanya para investor sering kali membuat keputusan investasi yang buruk akibat pengaruh faktor psikologis dalam diri mereka sendiri. Sebagai contohnya, pada masa pandemi COVID-19 ini, IHSG Indonesia bahkan seluruh negara mengalami penurunan drastis akibat kepanikan para investor. Dari contoh tersebut dapat kita ketahui bahwa peran faktor psikologis sangatlah penting. Penelitian ini dibuat dengan tujuan untuk mencari tahu dan menguji faktor-faktor behavioural finance yang memiliki pengaruh kepada para investor di Kepulauan Riau dalam proses pengambilan keputusan investasi. Faktor-faktor behavioural finance yang diuji pada penelitian ini adalah representativeness bias, availability bias, overconfidence bias, loss aversion bias, dan anchoring and adjustment bias. Sampel yang digunakan sebagai bahan pengujian berjumlah 133 responden yang merupakan investor aktif di Kepulauan Riau. Hasil pengujian menunjukkan bahwa, variabel loss aversion dan anchoring & adjustment bias berpengaruh positif terhadap proses pengambilan keputusan investasi para investor di Kepulauan Riau, sedangkan variabel representativeness bias, overconfidence, dan availability bias tidak memiliki pengaruh yang signifikan.

show abstract

Section: Sumber: Ksei (2019)unclassified

Analisis Pengaruh Behavioural Finance Terhadap Pengambilan Keputusan Investasi Investor di Kepulauan Riau

Candy

Vincent

2021

jesya

View full text Add to dashboard Cite

show abstract

“…If investors become conscious of biases they can face, they can act more rationally [42,43]. According to [44,45], behavioral biases include both cognitive biases (such as anchoring, representativeness, mental accounting and availability) and emotional biases (such as risk aversion, overconfidence and regret aversion). Reference [46] described in their article "Judgment under Uncertainty: Heuristics and Biases" the systematic errors in the thinking of ordinary people, while analyzing the origin of such errors in the cognitive mechanism.…”

Section: Literature Reviewmentioning

confidence: 99%

How Behavioral Aspects Influence the Sustainable Financial Decisions of Shareholders: An Empirical Study and Proposal for a Relevant Decision-Making Concept

2020

View full text Add to dashboard Cite

Behavioral finance is an area or sub-discipline of behavioral economics that examines the real financial behavior and decision-making of people, including the knowledge of psychology and sociology. The objective of this paper was to identify and investigate the impact of significant cognitive, psychological and emotional factors affecting the financial decision-making of the shareholders of woodworking and furniture manufacturing and trading enterprises. This could lead to the design of decision-making concepts which take into account not only cognitive but also psychological and emotional factors and their influences on decision-making process, which could positively affect the sustainable development of the aforementioned types of enterprises. The mapping of the addressed issue was carried out by means of an empirical survey in the practice of the Slovak woodworking and furniture manufacturing and trading enterprises in the form of a questionnaire. The results of the survey were evaluated by descriptive, graphical and mathematical-statistical methods. Conclusions and recommendations were formulated based on the identification of key behavioral aspects (knowledge, security, freedom and sadness), the implementation of which could contribute to eliminating negative deviations and errors in the financial decision-making process of shareholders of woodworking and furniture manufacturing and trading enterprises.

show abstract

“…Investment decisions are not that straight forward and simple as most of us think due to the influences of personality peculiarities, mental mistakes and emotional factors (Baker et al, 2014). There is a great deal of emotional and cognitive factors when it comes to investor decision making (Rehan et al, 2017). A cognitive bias is a heuristic or a rule of thumb which at times distract the investors from sound judgment or rationality.…”

Section: Behavioral Biasesmentioning

confidence: 99%

Stock Market Efficiency – An Information System Perspective A Systematic Literature Review

Proceedings of the International Conference on Industrial Engineering and Operations Management

View full text Add to dashboard Cite

An efficient market provides price discovery and ensures all market participants are ensured a level playing field. The efficiency of stock markets has been studied over many decades, predominantly from a finance theory perspective. The study however, proposes to evaluate the issue of market efficiency from an information system perspective. Information systems play a significant role in providing timely information with the ability to disseminate market information to all stakeholders worldwide, in an instant. After a systematic review of models evaluating performance of information systems throughput, the Information Success model was chosen and then adapted to suit the requirements of the study. Human behavioral components such as herding behavior, intention to utilize information/systems, user satisfaction, and other criteria such as information quality, system quality and service quality which all play a crucial role in making not just information systems efficient but also financial markets efficient, were linked to provide the study's conceptual framework designed to explore the effects of information systems on stock market behavior.

show abstract

Behavioural Biases in Investor Decisions

Cited by 3 publications

References 63 publications

Analisis Pengaruh Behavioural Finance Terhadap Pengambilan Keputusan Investasi Investor di Kepulauan Riau

Analisis Pengaruh Behavioural Finance Terhadap Pengambilan Keputusan Investasi Investor di Kepulauan Riau

How Behavioral Aspects Influence the Sustainable Financial Decisions of Shareholders: An Empirical Study and Proposal for a Relevant Decision-Making Concept

Stock Market Efficiency – An Information System Perspective A Systematic Literature Review

Contact Info

Product

Resources

About