The The Impact of Behavioral Aspects on Investment Decision Making

Nareswari, Ninditya; Balqista, Alifia Salsabila; Negoro, Nugroho Priyo

doi:10.33059/jmk.v10i1.3125

Cited by 19 publications

(24 citation statements)

References 13 publications

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“…It was found that millennial investors in Semarang City's stock market benefited from the influence of overconfidence (Adielyani & Mawardi, 2020). Overconfidence positively impacts investment decisionmaking (Nareswari et al, 2021). After examining past research, we discovered the following relationship: H1: Overconfidence bias has a significant influence on project selection.…”

Section: Overconfidence Biasmentioning

confidence: 94%

Financial Literacy's Moderating Effect on Project Selection with Heuristic-Driven Biases: SMEs’ Entrepreneurial Market Development in Pakistan

Asif,

Mansoor

2024

IJMT

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Certain biases on various project stages influence projects. Based on the moderating influence of financial literacy, the effect of heuristic-driven biases on project selection is evaluated in this research. The study aimed to evaluate how heuristics-driven biases affected the project management environment. A questionnaire with a five-point Likert scale is used to gather quantitative data. The study's target demographic comprises project managers and other senior employees at Small and Medium Enterprises (SMEs) with more than five years of experience. This study involved 200 participants, but only 151 responses were deemed authentic. Convenience sampling is the study's methodology. SPSS and Smart PLS3 are used for data analysis. The findings show that three behavioural biases, availability, representativeness, and under-confidence, have a negligible influence on project selection, but two behavioural biases—overconfidence and anchoring have a favourable impact. The research asserts that individuals do not succumb to these biases in many SMEs. The findings indicate that financial literacy does not moderate the association between heuristic-driven biases and project selection. Entrepreneurs, managers, investors, and businesses will gain immensely. Business owners should detect heuristic-driven biases to make better judgements. Controlling heuristic biases helps entrepreneurs make better decisions and implement productive business strategies. This research will help business owners manage their heuristic biases and grab business opportunities without making costly mistakes. This study offers a unique opportunity and the potential to improve the knowledge of entrepreneurial managers about the impact of heuristic-driven biases in the context of project management.

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Section: Overconfidence Biasmentioning

confidence: 94%

Financial Literacy's Moderating Effect on Project Selection with Heuristic-Driven Biases: SMEs’ Entrepreneurial Market Development in Pakistan

Asif,

Mansoor

2024

IJMT

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“…According to Mouna and Jarboui (2015), Gill et al (2018), andNareswari et al (2021), overconfidence occurs when an individual is extending the erroneous sense of control, also believes that he can overestimate his capacities in making the right decision, thus: H1 : There is a significant positive relationship between overconfidence and investment decision making.…”

Section: Methodsmentioning

confidence: 99%

Investment Behavioral Biases in Indonesia Millennial Investors Behavior during Pandemic

Damayanti

Rokhim

2022

JEB

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Purpose: Digital financial inclusion era has brought Indonesian people to gain interest in financial sector by accessing more resources to financial literature. During Covid-19 Pandemic, there was a unique phenomenon occurred where the price was going down but the number of individual investors, dominated by millennial, was increasing. This paper aimed to examine the behavioral biases that may influence Indonesian millennial investors during investment decision making process. The main focus is examining possibility of given effects from overconfidence, disposition effect, and loss aversion of the Indonesian millennial investors to investment decision making during Covid-19 Pandemic, by also examining the mediating effect for financial literature. Method: Using purposive sampling, a total of 1,035 valid respondents were collected using Google Form questionnaire. Structural Equation Modeling (SEM) analysis was conducted as the quantitative chosen method to examine the condition. Result: Overconfidence, disposition effect, and loss aversion are proven to positively affect investment decisions for Indonesian Millennial Investors during Covid-19 Pandemic. Additionally, financial literature is also proven to receive the mediating effect from overconfidence to investment decision, over all other independent variables. This study is believed to broaden the investment insight, especially in terms of investment decision making process and behavioral bias.

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“…Hal ini dapat menyebabkan terjadinya penyimpangan dari asumsi-asumsi tersebut, yang pada gilirannya mempengaruhi harga aset dan kinerja pasar (Noah & Lingga, 2020). Dengan menganalisis dan memahami faktor-faktor psikologis dan perilaku ini, Behavioral Finance bertujuan untuk memberikan pengetahuan lebih baik tentang bagaimana keputusan keuangan dibuat, serta untuk meningkatkan pemahaman tentang dinamika pasar modal (Nareswari et al, 2021).…”

Section: Kajian Teori Behaviroal Financeunclassified

Keputusan Investasi Investor Pemula: Peran Literasi Keuangan, Persepsi Resiko Dan Overconfidance Dalam Mempengaruhi Keputusan Investasi Investor Pemula Di Lantai Bursa

Bahri,

Aeni,

Risqiya

2024

JAFIN

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Investor pemula hendaknya mempertimbangkan beberapa faktor sebelum memutuskan berinvestasi saham. Literasi keuangan, persepsi risiko, dan Overconfidence merupakan beberapa faktor yang menjadi bahan pertimbangan seorang investor pemula sebelum berinvestasi saham. Penelitian ini bertujuan untuk menganalisis pengaruh literasi keuangan, persepsi risiko, dan Overconfidence terhadap keputusan investasi investor pemula. Penelitian ini menggunakan sampel sebanyak 100 responden investor pemula dengan metode Purposive Sampling dengan kriteria generasi milenial golongan pelajar berusia 18-24 tahun. Penelitian ini menggunakan metode analisis regresi linier berganda untuk menguji pengaruh variabel X terhadap Y. Hasil penelitian ini menunjukkan bahwa variabel literasi keuangan, persepsi risiko, dan Overconfidence berpengaruh terhadap variabel keputusan investasi.

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The The Impact of Behavioral Aspects on Investment Decision Making

Cited by 19 publications

References 13 publications

Financial Literacy's Moderating Effect on Project Selection with Heuristic-Driven Biases: SMEs’ Entrepreneurial Market Development in Pakistan

Financial Literacy's Moderating Effect on Project Selection with Heuristic-Driven Biases: SMEs’ Entrepreneurial Market Development in Pakistan

Investment Behavioral Biases in Indonesia Millennial Investors Behavior during Pandemic

Keputusan Investasi Investor Pemula: Peran Literasi Keuangan, Persepsi Resiko Dan Overconfidance Dalam Mempengaruhi Keputusan Investasi Investor Pemula Di Lantai Bursa

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