Muslim, Adam Ma'rifat (2024) EFFECT OF HERDING BIAS, OVERCONFIDENCE BIAS AND DISPOSITION BIAS IN INVESTMENT DECISIONS: A STUDY OF INDIVIDUAL INVESTORS IN THE SEMARANG CAPITAL MARKET COMMUNITY. Undergraduate thesis, FAKULTAS ILMU SOSIAL DAN ILMU POLITIK UNIVERSITAS DIPONEGORO.

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Abstract

Capital markets have become part of the foundation of a country's economy, both
developed and developing countries, one of which is Indonesia. Although in Indonesia
the development of the capital market has recently grown rapidly, the main controller
of this capital market development is the decisions of investors who have an influence
on the economy in Indonesia. However, Behavioural Finance such as Disposition Bias,
Overconfidence Bias, and Herding Bias can affect stock investment decisions on the
Indonesia Stock Exchange (IDX). These behaviours can influence a person's decision,
including Gen Z individual investors who currently dominate by 57.04%.
The purpose of this research is to determine the influence between Disposition
Bias, Overconfidence Bias, and Herding Bias on Investment Decisions. The population
is all members of the capital market community in Semarang, while the number of
samples used is 100 individual investors from members of the capital market
community in Semarang, using purposive sampling technique.
This paper focuses on doing explanatory research using a quantitative approach.
Specialised in basic linear regression analysis, the investigation was carried out using
SPSS 27 Version for Mac software. It may be concluded that the Disposition Bias
variable has a positive impact on the investment decision variable. This study examines
the beneficial impact of the overconfidence bias variable on the investment decision
variable. Furthermore, the variable of investment decision is favourably influenced by
the variable of herding bias.
Based on these results, the suggestions that can be conveyed by researchers,
namely to individual investors who are members of the capital market community in
Semarang. To further improve understanding of the capital market and financial
planning. It is hoped that investors can be alert to irrational behaviors, thus enabling
investors to make more rational and planned decisions.
Keywords: Behavioural Finance, Stock, Investment Decision, Investor
164. Administrasi Bisnis 2024

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