Effect of Financial Literacy, Risk Attitude and Saving Motives to Disposition Bias on Mutual Funds Investors

Abstract

Investment is significant to prepare human needs in the future. To make investment decisions, investors will try to make their decisions as rationally as possible. However, one cannot deny that some irrational factors or biases also influence investment decision-making. This study examines financial literacy, risk attitude, and saving motives on disposition bias of mutual fund investors. The sample used is mutual fund investors, and the respondents themselves make decisions to sell or buy mutual funds. The total of respondents is 116 respondents. The regression method used in this study is binary logistic regression using SPSS software. This study found that financial literacy and risk attitude has a significant effect on disposition bias. Meanwhile, the variable saving motives have no considerable impact on disposition bias.

Effect of Financial Literacy and Financial Behavior of Financial Satisfaction at Professional Basketball Athletes Indonesia

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Factors Affecting Socially Responsible Investment Intentions Investors in Surabaya

“…A person is willing to try and how much effort is planned to be expended (Ajzen, 1991). The theory of reasoned action states that behavioral intentions are influenced by the attitude towards behavior and subjective norms (Saputra, et al, 2021). This theory predicts behavioral intentions in various circumstances and is designed to explain most human behavior (Pavlou & Fygenson, 2006).…”

“…Intentions are defined as the will (desire in the heart) to do something (KBBI Daring, 2016). The theory of reasoned action explains that intentions are influenced by the attitude towards the behavior and subjective norms (Saputra, et al, 2021). Attitude describes an attitude in a positive or negative response to a behavior.…”

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