Pengaruh Overconfidence, Experienca dan Risk Perception Terhadap Pengambilan Keputusan Investasi Individu di Kota Makassar

  • Zul Fahmi - Fahmi Universitas Islam Negeri Alauddin Makassar, Indonesia
    (ID)
  • Rusdi Raprayogha Raprayogha Universitas Islam Negeri Alauddin Makassar, Indonesia
    (ID)

Abstract

This study aims to examine the effect of overconfidence, experience and risk perception on investment decision making. This research is a quantitative research. The population in this study were all investors in Makassar City, with a sample of 120 investors who fit the predetermined criteria. The sampling technique used in this study was non-probability sampling. The data used in this research is primary data, with the data collection method in the form of a questionnaire (questionnaire). The data analysis technique used is validity and reliability test, classical assumption test and hypothesis test using multiple linear regression analysis method.

The results showed that simultaneous overconfidence, experience, and risk perception have a significant effect on investment decisions. However, partially the overconfidence variable (X1) does not have a significant effect on investment decisions (Y), while the experience variable (X2) and risk perception (X3) have a significant positive effect on investment decisions (Y).

Author Biographies

Zul Fahmi - Fahmi, Universitas Islam Negeri Alauddin Makassar, Indonesia
Mahasiswa UIN Alauddin makassar
Rusdi Raprayogha Raprayogha, Universitas Islam Negeri Alauddin Makassar, Indonesia
Dosen UIN ALAUDDIN MAKASSAR

References

Abdullah, M, (2007). Tafsir Ibnu Katsir. Jakarta: Pustaka Imam Asy-Syafi’i.

Ackert, Lucy F., and Deaves, Richard. 2010. Behavioral Finance: Psychology Decision-Making and Markets. Edisi Internasional. USA: South-Western Cengage Learning.

Agustin, Pramita, (2014). Perilaku Investor Muslim dalam Bertransaksi Saham di Pasar Modal. JESTT. 1(12): 874-892.

Awais, Mustabsar , M. Fahad L , Nilofer R dan Aisha K, (2016). Impact of Financial Literacy and Investment Experience on Risk Tolerance and Investment Decisions: Empirical Evidence from Pakistan. International Journal of Economics and Financial . 6(1):73-79.

Barber, B., Odean, (2000). T.”Boys Will be Boys: Gender, Overconfidence, and Common Stock Invesment,’ Journal of Economics. Vol 116. No. 1, h. 261-292.

Bhandari, G. R. & Deaves, (2006). ”The Demographics of Overconfidence”. The Journal of Behavioral Finance, Vol.7, h. 5-11.

Budiarto dan Susianti, (2017). “Pengaruh Financial Literacy, Overconfidence, Regret Aversion Bias, Dan Risk Tolerance Terhadap Keputusan Investasi” Jurnal Ilmu Manajemen, 5 No.2, h.1-9.

Cho, J. & Lee, J, (2006). “Consumer’s use of information intermediaries and the impact on their information search behavior in the financial market”. Journal of Consumer Affairs, 39(1), 95-120.

Dewi Ayu W., dan Rr Iramani, (2014). “Studi Experienced Regret, Risk Tolerance, Overconfidencedan Risk Perception pada Pengambilan Keputusan Investasi Dosen Ekonomi”. Journal of Business and Banking, Vol4. No.1. h. 55-66.

Fira, AL, (2017). “Pengaruh Kompetensi dan Overconfidence Investor Terhadap Keputusan Investasi Investor Saham di Kota Medan”. Majalah Ilmiah Poltek Mandiri Bina Prestasi, Vol 6. No.2.

Halim, Abdul, (2005). Analisis Investasi, Edisi pertama, Jakarta: Salemba Empat.

Huda, Nurul dan Mustafa Edwin Nasution, (2007). Investasi Pada Pasar Modal Syariah, Jakarta: Kencana.

Josepth, Chricela Natalia, (2015). Illusi of Control dan Faktor Demografi dalam Pengambilan Keputusan Investasi.Jurnal Ekonomi. 9(2):108-117.

Kansal, Priya dan Seema Sigh, 2018. Determinats of Overconfidence Bias in Indian Stock Market.Qualitative Research in Financial Markets:2-5.

Kartini & Nugraha. N. F, (2015). “Pengaruh Illusions of Control, Overconfidence dan Emotion Terhadap Pengambilan Keputusan Investasi Pada Investor di Yogyakarta.” Jurnal Inovasi dan Kewirausahaan 4, h:115–23.

Kufepaksi, Mahatma, (2010). Investor Overconfidence dalam Penilaian Saham: Perspektif Gender dalam Eksperimen Pasar. Kinerja.14(2):131-150

Lestari, Winda dan Wahyu Kuantarti, (2014). Perilaku Investor Pada Pasar Modal di Lampung. Jurnal Ilmiah ESAI. 8 (1). 1-14.

Lestari, Wiwik, dan Rr. Iramani, (2013). Persepsi Risiko dan Kecenderungan Risiko Investor Individu. Jurnal Keuangan dan Perbankan, h. 78-88.

Neumann , J.,& Mathew, (2017). Impact Of Cognitive Biases An Investment Decisiions Of Individual Investors In Stock Market. International Journal Of Engineering Technology , Management And Applied Sciences.

Nguyen , Gallery, and Newton, (2017). “The joint influence of financial risk perception and risk tolerance on individual investment decision-making”. Accounting and Finance, h.1-25.

Parmitasari, R. D. A, (2017). Gender dan Kepuasan Keuangan Investor Pasar Modal di Sulawesi Selatan. Patria Artha Manajeen Journal, 1(2), 247-266.

Pradikasari, Ellen dan Yuyun Isbanah, (2018). Pengaruh Literacy Financial, illusion of control, overconvidence, risk tolerance, dan risk perception terhadap keputusan investasi Pada Mahasiswa di Kota Makassar. Jurnal Ilmu Manajemen. 6(4):424-434.

Pritazahara, R., & Sriwidodo, (2015). “Pengaruh Pengetahuan Keuangan dan Pengalaman Keuangan Terhadap Perilaku Perencanaan Investasi dengan Self Control Sebagai Variabel Moderating”. Jurnal Ekonomi Dan Kewirausahaan, Vol.15, h. 28–37.

Putra dan Ananingtiyas, (2016). “Experienced Regret, dan Risk Tolerance Pada Pemilihan Jenis Investasi” Journal of Business and Banking 5.

Putri, F. K., Bramanti, W. G., & Hakim, M. S, (2017). “Pengaruh Faktor Kepribadian Terhadap Toleransi Risiko Keputusan Investasi Saham”. Jurnal Teknik ITS 6.

Qadri, S. U., & Shabbir, M, (2014). “An Empirical Study of Overconfidence and Illusion of Control Biases, Impact on Investor’s Decision Making : An Evidence from ISE.” European Journal of Business and Management, 6(14) h:38–45.

Riaz, T., & Iqbal, H, (2015). “Impact of Overconfidence, Illusion of control, Self Control and Optimism Bias on Investors Decision Making; Evidence from Developing Markets.” Research Journal of Finance and Accounting Online, 6(11) h:2222–2847.

Septyanto, Dihin, (2013). “Faktor-Faktor Yang Mempengaruhi Investor Individu Dalam Pengambilan Keputusan Investasi Sekuritas Di Bursa Efek Indonesi (BEI)”. Jurnal Ekonomi. Universitas Esa Unggul Jakarta, Volume 4, No. 2

Shihab, M. Quraish, (2006). Tafsir Al-Misbah. Jakarta: Lentera Hati.

Sugiyono, (2017). Metode Penelitian Bisnis Pendekatan Kuantitatif, Kualitatif, Kombinasi, dan R&D. Bandung: Alfabeta.

Sula, Muhammad Syakir, (2004). Asuransi Syariah (Life and General). Jakarta: Gema Insani Press.

Surpramono dan Marisa Wandita, (2017). Confirmation Bias,Self-Attribution Bias dan Overconvidence da;am Transaksi Saham. Jurnal Keuangan dan Perbankan.21(1):25-36.

Wulandari, Dewi Ayu dan Rr. Iramani, (2014). “Studi Experienced Regret, Risk Tolerance, Overconfidance dan Risk Perception pada Pengambilan Keputusan Investasi Dosen Ekonomi” Journal of Business and Banking, h. 55-66.

Published
2022-01-06
How to Cite
Fahmi, Z. F.-, & Raprayogha, R. R. (2022). Pengaruh Overconfidence, Experienca dan Risk Perception Terhadap Pengambilan Keputusan Investasi Individu di Kota Makassar. Study of Scientific and Behavioral Management (SSBM), 2(4). Retrieved from https://journal3.uin-alauddin.ac.id/index.php/ssbm/article/view/25935
Section
Artikel
Abstract viewed = 290 times