Perilaku Bias Dalam Menentukan Keputusan Investasi

Abstract

Erroneous decisions will have an impact on the results, so this study aims to examine how investment decisions are Affected by some biased behavior by investors. This study uses primary data collected from questionnaires filled in by 161 responses whose subjects are the academic community of Universitas Singaperbangsa Karawang. The method used is purposive sampling. The analysis technique used is the moderated regression analysis. The findings of this study indicate that the bias behavior of investors, which is represented by excessive self-confidence and confirmation bias, influences in determining the investment decisions taken, sharpened by the moderating variable of gender which provides information that has a significant effect on excessive confidence in investors. The implication that can be useful for investors is to be more careful in their information and still see accurate data in determining investment decisions.

The Influence of Financial Confidence, Herding Bias, and Confirmation Bias on Investment Decisions in Generation Z in Jakarta

“…Another reason, it is possible that respondents find most of the information available (both news and opinions), not in line and in accordance with what is in the thoughts and beliefs of respondents so that confirmation bias has no effect on respondents' investment decision making. This is not in accordance with the journals written by [21], and [18], [20], [19], and [48] they state that confirmation bias has a positive and significant effect on investment decisions. Not also in accordance with the research of [22] which states that confirmation bias has a negative and significant effect on investment decisions.…”

“…According to [16] Confirmation bias is an action that seeks proof of the choices or beliefs, or expectations or hypotheses that the person has determined, both in terms of information and existing news. According to [18], [19], [20], [21] confirmation bias has a positive effect on investment decision making behaviour. Meanwhile, according to [22] confirmation bias has a negative influence on investment decision-making behaviour.…”

“…According to [21], confirmation bias has a positive effect on investment decisions for investors in India. According to [18] Confirmation bias has a positive effect on community investors at Singaperbangsa University in Karawang. Based on the theoretical framework above, the hypotheses that the authors propose are: H3: There is a significant effect of Confirmation Bias on Investment Decision…”