Pengaruh Financial Literacy, Illusion of Control, Overconfidence, Risk Tolerance, dan Risk Perception Terhadap Keputusan Investasi Pada Mahasiswa di Kota Surabaya
Abstract: The development of
the capital market along with the increase in Single Investor Identification
(SID) makes investment an attractive destination for investors. In investing,
investors act rationally or irrational in making investment decisions. So this
research aimed to analyze the financial literacy, illusion of control,
overconfidence, risk tolerance, and risk perception of investment decisions in
students in the city of Surabaya. This research use multiple linier regression
analysis technique with 220 respondent sample of university student investor
who has Investment Gallery in Surabaya city. The results of this study indicate
that the variables overconfidence and risk tolerance effect on investment
decisions. Respondents belong to a group of investors who feel confident and
like high risks with high returns as well. While the variables of financial
literacy, illusion of control and risk perception have no effect on investment
decision. Respondents belong to investor groups categorized as higher financial
literacy, but respondents feel no need to use knowledge in decision making
invetasi. In addition, in this study the average respondent sees historical
information, but the information can not predict future changes, so respondents
do not have an illusion of control attitude and tend to be careful in making
investment decisions. The absence of the influence of risk perception on
investment decisions, because in this study the length of investment makes
respondents make investment decisions that tend to like the risk and expect a
good situation in the future.
Keywords: financial literacy,
illusion of control, overconfidence, risk tolerance, risk perception,
investment decision
Penulis: ELLEN PRADIKASARI,
YUYUN ISBANAH
Kode Jurnal: jpmanajemendd180519
