Pengaruh Risk Perception, Risk Propensity, dan Herding Behavior terhadap Keputusan Investasi Dimoderasi oleh Financial Literacy (Studi pada Investor Saham IPO Bukalapak, Goto dan Blibli di Bursa Efek Indonesia)
DOI:
https://doi.org/10.32493/Inovasi.v12i1.p145-159.47580Keywords:
Risk Perception; Risk Propensity; Herding Behavior Keputusan Investasi; Financial LiteracyAbstract
Penelitian ini bertujuan untuk menganalisis faktor-faktor yang memengaruhi keputusan investasi pada saham Initial Public Offering (IPO) dengan mempertimbangkan peran moderasi literasi keuangan. Metode penelitian yang digunakan adalah kuantitatif dengan pendekatan deskriptif dan kausal. Hasil analisis menunjukkan bahwa risk perception, risk propensity, dan herding behavior memiliki pengaruh positif dan signifikan terhadap keputusan investasi saham IPO. Hal ini mengindikasikan bahwa semakin tinggi persepsi risiko, keberanian mengambil risiko, dan perilaku ikut-ikutan investor, semakin besar kemungkinan mereka untuk berinvestasi dalam saham IPO seperti Bukalapak, GoTo, dan Blibli. Selanjutnya, literasi keuangan terbukti memoderasi secara positif dan signifikan hubungan antara risk perception dan risk propensity terhadap keputusan investasi saham IPO, yang berarti investor dengan pemahaman keuangan yang baik dapat mengelola risiko lebih rasional dan optimal dalam pengambilan keputusan investasi. Namun, literasi keuangan tidak memoderasi secara signifikan hubungan antara herding behavior dan keputusan investasi saham IPO, yang menunjukkan bahwa perilaku ikut-ikutan dalam investasi lebih dipengaruhi oleh faktor psikologis, sosial, dan informasi eksternal daripada tingkat literasi keuangan individu. Temuan ini memberikan implikasi bagi investor dan regulator pasar modal dalam meningkatkan literasi keuangan guna menciptakan keputusan investasi yang lebih rasional dan optimal.
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