Pengaruh Representativeness Bias dan Availability Bias terhadap Pengambilan Keputusan Investasi
Abstract
This research aims to determine and analyze the influence of representativeness and availability on investment decisions. This research is included in the type of associative causality research using a quantitative approach. Researchers collected data using a questionnaire distributed to 349 respondents from UNP, UNAND and PNP accounting students. The data used in this research is primary data. Hypothesis testing in this research uses multiple linear regression analysis with IBM SPSS. Based on research findings and discussions, the following conclusions can be drawn: Representativeness influences investment decisions significantly and positively. This shows that the first hypothesis (H1) proposed can be accepted. Availability influences investment decisions positively and significantly. This means that the first hypothesis (H1) proposed is accepted.
References
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Arora, M., & Kumari, S. (2015). Risk Taking in Financial Decisions as a Function of Age, Gender: Mediating Role of Loss Aversion and Regret. International Journal of Applied Psychology, 5(4), 83–89. https://doi.org/10.5923/j.ijap.20150504.01
Asri, M. (2013). Keuangan Keperilakuan. Guru Besar FakultasEkonomika Dan Bisnis Universitas Gajah Mada.
Dangol, J., & Manandhar, R. (2020). Impact of Heuristics on Investment Decisions: The Moderating Role of Locus of Control. Journal of Business and Social Sciences Research, 5(1), 1–14. https://doi.org/10.3126/jbssr.v5i1.30195
Gumelar, G. (2018). Darmin Sebut Reaksi Investor Berlebihan Respons Krisis Turki. CNN Indonesia.
Kartini, & Nugraha, N. F. (2015). Pengaruh Illusions of Control, Overconfidence Dan Emotion Terhadap Pengambilan Keputusan Investasi Pada Investor Di Yogyakarta. Ajie, 4(2), 114–122. https://doi.org/10.20885/ajie.vol4.iss2.art6
Khan, H. H., Naz, I., Qureshi, F., & Ghafoor, A. (2017). Heuristics and stock buying decision: Evidence from Malaysian and Pakistani stock markets. Borsa Istanbul Review, 17(2), 97–110. https://doi.org/10.1016/j.bir.2016.12.002
Liyanarachchi, G. A., & Milne, M. J. (2005). Comparing the investment decisions of accounting practitioners and students: An empirical study on the adequacy of student surrogates. Accounting Forum, 29(2), 121–135. https://doi.org/10.1016/j.accfor.2004.05.001
Nada, S. M. A., & Moamer, F. A. (2013). Behavioural Factors Influencing Investment Decision Making: An Empirical Study of Palestine Stock Exchange. 159.
Ngoc, L. T. B. (2013). Behavior Pattern of Individual Investors in Stock Market. International Journal of Business and Management, 9(1), 1–16. https://doi.org/10.5539/ijbm.v9n1p1
Nyamute, W. I. (2016). INVESTOR BEHAVIOUR , INVESTOR DEMOGRAPHIC CHARACTERISTICS , INVESTMENT STYLE AND INDIVIDUAL INVESTOR PORTFOLIO PERFORMANCE AT THE NAIROBI SECURITIES EXCHANGE ( Business Administration ) JOMO KENYATTA UNIVERSITY OF.
Pompian, M. (2012). Behavioral Finance and Investor Type. CFA Institute.
Shah, S. Z. A., Ahmad, M., & Mahmood, F. (2018). Heuristic biases in investment decision-making and perceived market efficiency: A survey at the Pakistan stock exchange. Qualitative Research in Financial Markets, 10(1), 85–110. https://doi.org/10.1108/QRFM-04-2017-0033
Supramono, Nastiti, P . K . Y Damayanti, T. . W. (2018). Keuangan Berbasis Perilaku. Penerbit ANDI.
Tandelilin, E. (2017). Pasar Modal Manajemen Portfolio & Investasi. PT Kanisius.