Pengaruh Herding Behavior dan Overconfidence Terhadap Keputusan Investasi Investor Muda Jawa Barat Dengan Financial Literacy Sebagai Moderasi

Dewi Yulianti, Nugraha Nugraha, Harpa Sugiharti, Imas Purnamasari

Abstract


This study aims to describe herding behaviour, overconfidence, financial literacy, and investment decisions, and to determine the effect of financial literacy on the moderating role of herding behaviour and overconfidence in investment decisions. The research method used in this study is descriptive and verification using a quantitative approach. The research sample consisted of 400 young investors in West Java who have or are investing. The sampling method used the accidental sampling technique. The results of this descriptive analysis indicate that herding behaviour is in the moderate criteria, overconfidence is in the moderate criteria, financial literacy is in the high criteria, and investment decisions are in the moderate criteria. The results of hypothesis testing indicate that herding behaviour and overconfidence positively influence investment decisions, and that financial literacy moderates the effect of herding behaviour on investment decisions. Meanwhile, the financial literacy variable does not moderate the effect of overconfidence on investment decisions.

Keywords


Herding Behavior; Overconfidence; Financial Literacy; Keputusan Investasi.

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References


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