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PERAN LITERASI KEUANGAN DALAM MEMODERASI PENGARUH BIAS PRILAKU KEUANGAN TERHADAP INVESTASI (STUDI PADA INVESTOR SAHAM SULAWESI TENGGARA

Jurnal Manajemen, Bisnis dan Organisasi (JUMBO) · Vol. 6 No. 3 (2022) · pp. 676–689

DOI
10.33772/jumbo.v6i3.23197
ISSN
2502-4175
Published
2022-12-28
Publisher
Pascasarjana Universitas Halu Oleo
Language
eng

Abstract

The role of Financial Literacy in Moderating the influence of financial behavior bias on investment (Studies on Southeast Sulawesi Capital Market Investors. Thesis. Management Science Study Program, Postgraduate, Halu Oleo University. The purpose of this study is to explain and examine the effect of Financial Behavior Bias consisting of 6 indicators, namely Overconvidence, disposition effect, herding, risk aversion, representaveness and anchoring on investment decisions and the role of Financial Literacy in moderating the effect of financial behavior bias on investment. The research design used is quantitative research. The data used are primary data and analyzed using SPSS software version 25. The sampling technique is using the Slovin equation. And the sample in this study was 265 IDX stock investors representing Southeast Sulawesi. The results of the study show that the financial behavior bias which consists of indicators of overconvidence, representaveness and anchoring has a positive and significant effect on investment, but differs from the indicators of disposition effect, herding, and risk aversion which has a positive and insignificant effect on investment decisions. Furthermore, financial behavior bias with indicators of Overconvidence, disposition effect, risk aversion, representaveness and anchoring moderated by Financial Literacy is not significant on investment decisions, but herding indicators have a significant effect on investment decisions but in a negative direction.

Keywords

Collaboration network of the authors

40 authors · 140 co-authorship links · showing the 40 most connected

Hover or tap a name to highlight its co-authors. Double-click to open the author's page.

  • Universiti Teknologi MARA
  • Universitas Halu Oleo
  • Affiliation unknown
  • Different organisations
  • Same organisation
  • Affiliation unknown
  • Thicker line = more joint articles · bigger circle = more articles
Show as table
Co-authorOrganisationJoint articles
Dedy Takdir SyaifuddinAffiliation unknown7
Buyung SaritaAffiliation unknown6
Nuryamin BudiAffiliation unknown4
Ibnu HajarUniversiti Teknologi MARA4
Riski Amalia MadiAffiliation unknown4
Endro SukotjoAffiliation unknown3
Wahyuniati HamidAffiliation unknown2
Zaluddin ZaluddinAffiliation unknown2
Ade Rahayu NataliaAffiliation unknown2
Faisal MaarifAffiliation unknown2
Kardita BasirAffiliation unknown2
La Hatani La HataniAffiliation unknown2
Andi FirayantiAffiliation unknown2
Samdin SamdinAffiliation unknown2
Ansir AnsirAffiliation unknown2
Valentinus Amstrong TNAffiliation unknown2
Muhamad Alid AsariAffiliation unknown1
Herlan HerlanAffiliation unknown1
Muh. Akbar MuktadirunAffiliation unknown1
Krisna KrisnaAffiliation unknown1
Rachmat Riyaldi HasanAffiliation unknown1
Putu SumarniwatiAffiliation unknown1
Sulisnawati SulisnawatiAffiliation unknown1
Valentinus Amstrong T. NempungAffiliation unknown1
Farhan Ramadhani IstiandarAffiliation unknown1
Valentinus AmstrongAffiliation unknown1
Aminun NisaAffiliation unknown1
Masra MasraAffiliation unknown1
La Ode Bahana AdamAffiliation unknown1
Imas Nevriyanti HadimanAffiliation unknown1
Salni SulasriAffiliation unknown1
Fifi Nurfitria UmarAffiliation unknown1
Valentinus Amstrong TNAffiliation unknown1
Dadan PriyokoAffiliation unknown1
Sitti KasmiatiAffiliation unknown1
Surdin SurdinUniversitas Halu Oleo1
Muksin MuksinAffiliation unknown1

Affiliations come from OpenAlex; journal OAI-PMH metadata carries none. Authors without an OpenAlex ID are matched by name, which can merge or split people.

Metadata source: OAI-PMH (metadata jurnal) https://ojs.uho.ac.id/index.php/JUMBO/oai, first harvested 31 Okt 2026, last seen 1 Nov 2026.
Original metadata (oai_dc) 
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	<dc:title xml:lang="en-US">PERAN LITERASI KEUANGAN DALAM MEMODERASI PENGARUH BIAS PRILAKU KEUANGAN TERHADAP INVESTASI (STUDI PADA INVESTOR SAHAM SULAWESI TENGGARA</dc:title>
	<dc:creator>Marliati, Marliati</dc:creator>
	<dc:creator>Sujono, Sujono</dc:creator>
	<dc:creator>Saleh, Salma</dc:creator>
	<dc:subject xml:lang="en-US">Financial behaviour bias, Financial Literacy and Investment.</dc:subject>
	<dc:description xml:lang="en-US">The role of Financial Literacy in Moderating the influence of financial behavior bias on investment (Studies on Southeast Sulawesi Capital Market Investors. Thesis. Management Science Study Program, Postgraduate, Halu Oleo University. The purpose of this study is to explain and examine the effect of Financial Behavior Bias consisting of 6 indicators, namely Overconvidence, disposition effect, herding, risk aversion, representaveness and anchoring on investment decisions and the role of Financial Literacy in moderating the effect of financial behavior bias on investment. The research design used is quantitative research. The data used are primary data and analyzed using SPSS software version 25. The sampling technique is using the Slovin equation. And the sample in this study was 265 IDX stock investors representing Southeast Sulawesi. The results of the study show that the financial behavior bias which consists of indicators of overconvidence, representaveness and anchoring has a positive and significant effect on investment, but differs from the indicators of disposition effect, herding, and risk aversion which has a positive and insignificant effect on investment decisions. Furthermore, financial behavior bias with indicators of Overconvidence, disposition effect, risk aversion, representaveness and anchoring moderated by Financial Literacy is not significant on investment decisions, but herding indicators have a significant effect on investment decisions but in a negative direction.</dc:description>
	<dc:publisher xml:lang="en-US">Pascasarjana Universitas Halu Oleo</dc:publisher>
	<dc:contributor xml:lang="en-US"></dc:contributor>
	<dc:date>2022-12-28</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
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	<dc:type xml:lang="en-US">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://ojs.uho.ac.id/index.php/JUMBO/article/view/23197</dc:identifier>
	<dc:identifier>10.33772/jumbo.v6i3.23197</dc:identifier>
	<dc:source xml:lang="en-US">Jurnal Manajemen, Bisnis dan Organisasi (JUMBO); Vol 6, No 3 (2022): Jurnal JUMBO Vol 6 No 3; 676-689</dc:source>
	<dc:source>2502-4175</dc:source>
	<dc:source>10.33772/jumbo.v6i3</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://ojs.uho.ac.id/index.php/JUMBO/article/view/23197/pdf</dc:relation>
	<dc:rights xml:lang="en-US">Copyright (c) 2023 Jurnal Manajemen, Bisnis dan Organisasi (JUMBO)</dc:rights>
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