Pengaruh Bias Perilaku, Literasi Keuangan, dan Pengetahuan Investasi terhadap Pengambilan Keputusan Investasi pada Investor Muda

Abstract

Investor muda cenderung membuat keputusan investasi secara tidak rasional. Prospect theory dan behavioral finance menjelaskan bahwa keputusan keuangan sering kali tidak didasarkan pada logika objektif, tetapi pada persepsi risiko, emosi, serta tingkat literasi yang dimiliki investor. Penelitian ini bertujuan untuk menganalisis pengaruh bias perilaku, literasi keuangan, dan pengetahuan investasi terhadap pengambilan keputusan investasi pada investor muda. Jenis penelitian bersifat kuantitatif dengan purposive sampling pada 100 responden investor muda di Indonesia. Data penelitian menggunakan kuesioner online yang dilaksanakan pada bulan Maret - Juni 2025 dan dianalisis menggunakan software SPSS (Statistical Package for the Social Sciences) versi 25. Hasil menunjukkan bias perilaku, literasi keuangan, dan pengetahuan investasi secara simultan berpengaruh positif dan signifikan terhadap pengambilan keputusan investasi pada investor muda. Hasil penelitian dapat dimanfaatkan untuk merancang rencana investasi agar investor dapat membuat keputusan investasi lebih efektif dan mengurangi kesalahan dalam pengambilan keputusan investasi.

Young investors tend to make irrational investment decisions. Prospect theory and behavioral finance explain that financial decisions are often based not on objective logic, but on risk perception, emotions, and the investor's level of literacy. This study aims to analyze the influence of behavioral bias, financial literacy, and investment knowledge on investment decision-making among young investors. This quantitative research employed purposive sampling involving 100 respondents aged 17–30 who had invested at least once. Data were collected through an online questionnaire distributed between March and June 2025 and analyzed using SPSS (Statistical Package for the Social Sciences) version 25. The findings indicate that behavioral bias, financial literacy, and investment knowledge jointly have a positive and significant effect on investment decision-making. Among the independent variables, investment knowledge showed the most dominant influence based on partial test results. The results of this study are expected to support the development of investment education programs and serve as a reference for young investors in formulating rational and informed investment strategies.