Sinaga, Muhammad Apri Wirawan and Nila Firdausi Nuzula,, S.Sos., M.Si.,Ph.D and Cacik Rut Damayanti,, S.Sos., M.Prof.Acc, DBA (2023) Pengaruh The Psychology of Risk dan Investor Sentiment Terhadap Pengambilan Keputusan Investasi di Pasar Saham Indonesia (Studi Kasus Pada Investor Individu Di Kota Malang). Magister thesis, Universitas Brawijaya.
Abstract
Penelitian ini bertujuan untuk memberikan bukti empiris mengenai pengaruh psychology of risk dan investor sentiment terhadap pengambilan keputusan investasi di pasar saham Indonesia. Berbagai fenomena dan anomali di pasar saham tidak sepenuhnya dapat dijelaskan oleh teori keungan standar sehingga penelitian ini akan mengambil topik perilaku keuangan untuk menjelaskan bagaimana keputusan investor dapat menyimpang dari rasionalitas. Penelitian ini termasuk kedalam jenis penelitian eksplanatori dan penentuan sampel menggunakan rumus Slovin sebanyak 100 responden. Objek penelitian ini adalah investor individu di kota Malang yang berinvestasi di pasar saham Indonesia. Pengumpulan data dilakukan sejak Desember 2022 hingga Februari 2023 dengan metode accidental sampling. Metode analisis data menggungakan structural equation modelling berbasis variance atau atau biasa disebut SEM-PLS. Penelitian ini menemukan bahwa psychology of risk berpengaruh positif namun tidak signifikan terhadap pengambilan keputusan investasi, sementara psychology of risk berpengaruh positif dan signifikan terhadap investor sentiment, dan investor sentiment berpengaruh positif dan signifikan terhadap pengambilan keputusan investasi. Kebanyakan penelitian terdahulu hanya berfokus kepada pengaruh langsung antara bias perilaku terhadap pengambilan keputusan investasi, sementara penelitian ini memberikan bukti empiris adanya pengaruh tidak langsung yang kuat psychology of risk terhadap pengambilan keputusan investasi
English Abstract
This study aims to provide empirical evidence regarding the influence of the psychology of risk and investor sentiment on investment decision-making in the Indonesian stock market. Various phenomena and anomalies in the stock market cannot be fully explained by standard financial theory, so this study will take the topic of financial behavior to explain how investors' decisions can deviate from rationality. This research belongs to the type of explanatory research and determines the sample using the Slovin formula of as many as 100 respondents. The object of this research is individual investors in Malang who invest in the Indonesian stock market. Data collection was carried out from December 2022 to February 2023 using the accidental sampling method. The data analysis method uses variance�based structural equation modeling or commonly called SEM-PLS. This study found that the psychology of risk has a positive but not significant effect on investment decision-making, while the psychology of risk has a positive and significant effect on investor sentiment, and investor sentiment has a positive and significant effect on investment decision-making. Most previous research has only focused on the direct effect of behavioral biases on investment decision-making, while this research provides empirical evidence that there is a strong indirect effect of psychology of risk on investment decision-making
| Item Type: | Thesis (Magister) |
|---|---|
| Identification Number: | 0423030061 |
| Uncontrolled Keywords: | Psycholoy of risk, Investor sentiment, Keputusan Investasi |
| Divisions: | S2/S3 > Magister Administrasi Bisnis, Fakultas Ilmu Administrasi |
| Depositing User: | Endang Susworini |
| Date Deposited: | 18 Jan 2024 01:58 |
| Last Modified: | 18 Jan 2024 01:58 |
| URI: | http://repository.ub.ac.id/id/eprint/210874 |
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