ANALYSIS OF DECISION-MAKING FACTORS EQUITY INVESTMENT IN INDONESIA

Authors

  • Christian Herdinata Universitas Ciputra Surabaya
  • Fransisca Desiana Pranatasari Universitas Sanata Dharma Yogyakarta
  • Annabella Claudia Kurniadi Universitas Ciputra Surabaya

DOI:

https://doi.org/10.35794/jmbi.v10i2.50416

Abstract

Invetment decision for an investor is influenced by various factors. Ideally, investors need to have various considerations before they finally make an investment. The importance of knowing the factors that shape the decision to choose stocks for investors in Indonesia is the purpose of this research. There were 185 respondents who fulfilled the purposive sampling technique as a sample collection technique. The research instrument was a questionnaire as primary data. The data analysis technique was carried out by factor analysis with the principle component analysis approach and SPSS as a research tool. The stages of factor analysis are carried out by compiling a correlation matrix, extraction factors, rotation factors, and naming factors. The result is that there are two factors that are generated as forming factors for investing in stocks in Indonesia, namely investment management experience; investment management knowledge.

References

Alamsyah, F., Saerang, I.S., Tulung, J. E. (2019). Analisis Akurasi Model Zmijewski, Springate, Altman, Dan Grover Dalam Memprediksi Financial Distress. Jurnal Riset Ekonomi, Manajemen, Bisnis Dan Akuntansi, 7(2). https://doi.org/10.35794/emba.v7i2.49101

Ajzen, I. (1991). The theory of planned behavior. Organizational behavior and human decision processes, 50(2), 179-211.

Bailey, M., Cao, R., Kuchler, T., Stroebel, J. (2018). The economic effects of social networks: evidence from the housing market. J. Polit. Econ. 126 (6), 2224–2276.

Bailey, M., Johnston, D.M., Koenen, M., Kuchler, T., Russel, D., Stroebel, J. (2020). Social networks shape beliefs and behavior: evidence from social distancing during the COVID-19 pandemic. In: Working Paper. No. 28234. National Bureau of Economic Research.

Bailey, M., Gupta, A., Hillenbrand, S., Kuchler, T., Richmond, R., Stroebel, J. (2021). International trade and social connectedness. J. Int. Econ. 129, 103418.

Coven, J., Gupta, A. (2020). Disparities in mobility responses to COVID-19. In: Stern School of Business Working Paper.

Darmadji, Tjiptono dan Hendy M. Fakhruddin. (2011), Pasar Modal Di Indonesia. Edisi 3. Jakarta: Salemba Empat.

Ferli, O., Ambarwati, C. T., & Mutiara, M. (2022). Investment Experience And Risk Tolerance Affect Investment Decision During Pan-demi Covid 19 in Indonesia (Case Study of Investment Gallery Students in South Jakarta). Jurnal Ilmu Manajemen & Ekonomika, 14(2), 71. https://doi.org/10.35384/jime.v14i2.276

Hair, J. F., Black, W. C., Babin, B. J., Anderson, R. E., Black, W. C., & Anderson, R. E. (2018). Multivariate Data Analysis.

Hartono, Jogiyanto. (2003). Teori Portofolio dan Analisis Investasi, Edisi III, cet, I; Yogyakarta, BPFE.

Hasanuh, N. (2020). Influence of Financial Literacy and Financial Attitude on Individual Investment Decisions. Advances in Business, Management and Entrepreneurship, 1993, 424–428. https://doi.org/10.1201/9780429295348-92

Holtz, D., Zhao, M., Benzell, S.G., Cao, C.Y., Rahimian, M.A., Yang, J., Aral, S. (2020). Interdependence and the cost of uncoordinated responses to COVID-19. Proc. Natl. Acad. Sci. 117 (33), 19837–19843.

Horne, Van Wachowicz. (1997). Fundamental of Financial Management. 9th ed. New Jersey: Practice Hall International, Inc.

Husnan, Suad. (1998). Manajemen Keuangan: Teori dan Penerapan Keputusan Jangka Pendek. BPFE, Yogyakarta.

James C. Van Horne dan John M.Wachowicz,Jr, (1997). Prinsip-prinsip Manajemen Keuangan, Salemba Empat, Jakarta.

Karamoy, H., & Tulung, J. E. (2020). The Effect of Banking Risk on Indonesian Regional Development Bank. Banks and Bank Systems, 15(2), 130-137

Kempson, E. (2008). Financial Education Fund: Fund Management Inception Report (Financial Education Fund).

Kuchler, T., Li, Y., Peng, L., Stroebel, J., Zhou, D. (2021). Social proximity to capital: implications for investors and firms. Rev. Financ. Stud. 35 (6), 2743–2789.

Kuchler, T., Russel, D., Stroebel, J. (2022). JUE Insight: the geographic spread of COVID-19 correlates with the structure of social networks as measured by Facebook. J. Urban Econ. 127, 103314.

Kurniawati, Apriliani Adeayu, & Lestari, H. S. (2022). Faktor-Faktor yang Mempengaruhi Financial Well-Being. JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis Dan Inovasi Universitas Sam Ratulangi)., 9(3), 1577–1598. https://doi.org/10.35794/jmbi.v9i3.43155

Milani, F. (2021). COVID-19 outbreak, social response, and early economic effects: a global VAR analysis of cross-country interdependencies. J. Popul. Econ. 34 (1), 223–252.

Nur Fadilla, F., & Usman, B. (2022). Pengaruh Literasi Keuangan, Perilaku Keuangan Dan Intensi Strategi Pensiun Terhadap Perencanaan Pensiun Pada Karyawan Di Jabodetabek. JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis Dan Inovasi Universitas Sam Ratulangi)., 9(3), 1685–1707. https://doi.org/10.35794/jmbi.v9i3.43152

Pangestu, S., & Karnadi, E. B. (2020). The effects of financial literacy and materialism on the savings decision of generation Z Indonesians. Cogent Business & Management, 7(1), 1743618.

Park, H. M. (2008). Univariate analysis and normality test using SAS, Stata, and SPSS. Working paper. Indiana University Information Technology Services, 1–41

Rehbein, O., & Rother, S. (2020). The role of social networks in bank lending. ECONtribute Discussion Paper. No. 033.

Sharpe, William F, Alexande, Gordon J & Bailey, Jeffery V. (2005). Investments, Edisi 2, Pearson Custom Publishing, Boston

Steinmetz, H., Davidov, E., & Schmidt, P. (2011). Three Approaches to Estimate Latent Interaction Effects: Intention and Perceived Behavioral Control in the Theory of Planned Behavior. Methodological Innovations Online, 6(1), 95–110.

Downloads

Published

2023-08-30

How to Cite

Herdinata, C., Pranatasari, F. D., & Kurniadi, A. C. (2023). ANALYSIS OF DECISION-MAKING FACTORS EQUITY INVESTMENT IN INDONESIA. JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis Dan Inovasi Universitas Sam Ratulangi)., 10(2), 1414–1423. https://doi.org/10.35794/jmbi.v10i2.50416