The effect of financial behavior, financial literacy, and macroeconomics on stock investment decision-making in East Nusa Tenggara

https://doi.org/10.35912/amor.v3i1.1183
Published: Jul 11, 2022

Abstract:

Purpose: This study discusses the influence of financial behavior, financial literacy, and macroeconomics on stock investment decision-making in East Nusa Tenggara.

Research Methodology: This research is associative research with a quantitative approach. Distributing questionnaires to 225 investors who were used as research samples collected research data. The data obtained were analyzed by multiple linear regression analysis.

Results: Partially or simultaneously independent variables affect the dependent variable in the form of investment decisions positively and significantly. Only financial literacy does not have a significant influence on investment decisions

Limitations: This research was conducted during the Covid-19 pandemic, where everything that was done in this research was done without meeting directly with the informants. In addition, the variables studied in this study are dynamic and complex in which the results and thoughts can change at any time according to existing conditions.

Contribution: This research becomes scientific information about investor behavior in making investment decisions specifically in the East Nusa Tenggara region.

Keywords:
1. Behavioral Finance
2. Financial Literacy
3. Macroeconomics
4. Investment Decisions
Authors:
1 . Ni Nyoman Alit Nugraheni
Department of Administrative Sciences, Faculty of Social and Political Sciences, Nusa Cendana University
2 . Pius Bumi Kellen
Department of Business Administration, Faculty of Social and Political Sciences, Nusa Cendana University.
3 . Petrus Emanuel de Rozari
Departmentof Management, Faculty of Economics and Business, Nusa Cendana University.
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How to Cite
Nugraheni, N. N. A., Kellen, P. B., & Rozari, P. E. de. (2022). The effect of financial behavior, financial literacy, and macroeconomics on stock investment decision-making in East Nusa Tenggara. Annals of Management and Organization Research, 3(1), 1–20. https://doi.org/10.35912/amor.v3i1.1183
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Issue & Section
Vol. 3 No. 1 (2021): August
Articles
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  2. Angga, B. (2020). Ekonomi Digital dan Ketimpangan Literasi Teknologi. Dikutip dari https://news.detik.com/kolom/d-4859789/ekonomi-digital-dan-ketimpanganliterasi-teknologi. Diakses pada tanggal 6 Juli 2021.
  3. Artaya, M., Purbawangsa, I. B. A., & Artini, L. G. S. (2014). Pengaruh Faktor Ekonomi Makro, Risiko Investasi Dan Kinerja Keuangan Terhadap Return Saham Perusahaan Di Bursa Efek Indonesia (Bei). E-Jurnal Ekonomi dan Bisnis Universitas Udayana, 3(12), 689-701.
  4. Atmaja, L. S. (2008). Teori dan Praktik Manajemen Keuangan. Yogyakarta: Andi.
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  6. Bakti, U., & Alie, M. S. (2018). Pengaruh Inflasi dan Suku Bunga Terhadap Investasi di Provinsi Lampung Periode 1980-2015. Jurnal Ekonomi, 20(3), 275-285.
  7. Budiarto, A., dan Susanti. (2017). Pengaruh Financial Literacy, Overconfidence, Regret Aversion Bias, Dan Risk Tolerance terhadap Keputusan Investasi. Jurnal Universitas Negeri Surabaya.
  8. Center For Diades Control and Prevention (CDC). (2020). Coronavirus Disease 2019 (COVID-19). https://www.cdc.gov/media/dpk/diseases-andconditions/coronavirus/coronavirus-2020.html. Diakses tanggal 06 Juli 2021.
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  10. Christanti, N., & Mahastanti, L. A. (2011). Faktor-Faktor Yang Dipertimbangkan Investor Dalam Melakukan Investasi: Universitas Kristen SatyaWacana.
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  13. Handayani, D., Hadi, D. R., Isbaniah, F., Burhan, E., & Agustin, H. (2020). Corona virus disease 2019. Jurnal Respirologi Indonesia, 40(2), 119-129.
  14. Hartono, J. (2013). Teori Portofolio dan Analisis Investasi. Edisi Ketujuh. BPFE, Yogyakarta.
  15. Hilgert, M. A., Hogarth, J. M., & Beverly, S. G. (2003). Household financial management: The connection between knowledge and behavior. Fed. Res. Bull., 89, 309.
  16. Hindayani, N. (2020). Analisis Reaksi Pasar Saham Atas Peristiwa Covid-19 Di Indonesia. Jurnal Ilmiah MEA (Manajemen, Ekonomi, &Akuntansi), 4(3), 1645-1661.
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  18. Indriantoro, Nur, dkk. (2018). Metodologi Penelitian Bisnis. Yogyakarta: BPFE
  19. Junaedi, D., & Salistia, F. (2020).DampakPandemi Covid-19 Terhadap Pasar Modal di Indonesia. Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah, 2(2), 109-131.
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  22. Lestari, W, R., dan Prayono, E. (2015). Faktor Psikologi Membentuk Perilaku Keuangan (Behavioral Finance) Investor dalam Transaksi Sahampada Pasar Modal di Lampung. Jurnal Institute Darmajaya, Bandar Lampung.
  23. Lewellen, W. G., Lease, R. C., & Schlarbaum, G. G. (1977). Patterns of investment strategy and behavior among individual investors. The Journal of Business, 50(3), 296-333.
  24. Lubis, Arlina, N., dkk. (2013). Perilaku Investor Keuangan. Medan: USU Press.
  25. Nababan, D., & Sadalia, I. (2012). Analisis Personal Financial Literacy Dan Financial Behavior. Jurnal Universitas Sumatera Utara.
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  29. Pritazahara, R., dan Sriwidodo, U. (2015). Pengaruh Pengetahuan Keuangandan Pengalaman Keuangan Terhadap Perilaku Perencanaan Investasi Dengan Self Control Sebagai Variabel Moderating. Jurnal Ekonomi dan Kewirausahaan.
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  31. Putong, I. (2013). Economics Pengantar Mikro dan Makro. Jakarta: Mitra Wacana Media.
  32. Putra, I. P. S., Ananingtiyas, H., Sari, D. R., Dewi, A. S., & Silvy, M. (2016). Pengaruh tingkat literasi keuangan, experienced regret, dan risk tolerance pada pemilihan jenis investasi. Journal of Business and Banking, 5(2), 271-282.
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