PENGARUH HERDING BEHAVIOR, LOSS AVERSION, DAN FINANCIAL LITERACY TERHADAP INVESTMENT DECISION

Abstract

Tujuan dari penelitian ini adalah untuk mengetahui pengaruh Herding Behavior, Loss Aversion, dan Financial Literacy terhadap Investment Decision. Sampel penelitian ini sebanyak 210 responden Gen Z yang tinggal di Jakarta. Pengambilan sampel dilakukan melalui penyebaran kuesioner secara online melalui Google form, dengan menggunakan teknik convenience sampling dan teknik analisis data PLS-SEM yang diolah dengan Smart-PLS Software versi 4. Hasil penelitian ini menunjukkan bahwa Herding Behavior, Loss Aversion, dan Financial Literacy berpengaruh positif terhadap Investment Decision. Investor yang memiliki tingkat Herding Behavior yang tinggi akan cenderung mengikuti investor lain yang lebih berpengalaman dan mempunyai reputasi yang baik dalam membuat keputusan investasi. Semakin tinggi tingkat Loss Aversion pada investor maka investor akan lebih berhati-hati dan berusaha untuk menghindari kerugian dalam membuat keputusan investasi. Semakin tinggi tingkat Financial Literacy investor maka semakin tinggi pemahaman investor tentang konsep dasar keuangan, sehingga investor akan dapat membuat keputusan investasi yang baik. The purpose of this study is to determine the influence of Herding Behavior, Loss Aversion, and Financial Literacy on Investment Decision. The sample for this study was 210 Gen Z respondents who lived in Jakarta. Sampling was carried out by distributing questionnaires online via Google form, using convenience sampling techniques and PLS-SEM data analysis techniques processed with Smart-PLS Software version 4. The results of this study show that Herding Behavior, Loss Aversion, and Financial Literacy have a positive effect on Investment Decision. Investors who have a high level of Herding Behavior will tend to follow other investors who are more experienced and have a good reputation in making investment decisions. The higher the level of Loss Aversion in investors, the more careful investors will be and try to avoid losses in making investment decisions. The higher the investor's level of Financial Literacy, the higher the investor's understanding of basic financial concepts, so that investors will be able to make good investment decisions.

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