SKRIPSI AKS
Literasi Keuangan Memoderasi Pengaruh Mental Accounting, Overconfidence, Self Attribution, dan Representativeness Terhadap Pengambilan Keputusan Investasi
ABSTRACT
Nowadays, investors often face several psychological factors and
knowledge about investors' financial decision-making. This study aims to determine
the extent to which financial literacy moderates the influence of mental accounting,
overconfidence, self-attribution, and representativeness on investment decision-
making, in a case study of individual investors in the city of Surakarta.
The research method in this study is a quantitative method with the
distribution of questionnaires in data collection. The sampling technique used is
purposive sampling with 150 respondents residing in the city of Surakarta who have
engaged in investment activities at least once. The collected data were then
analyzed using SmartPLS version 3 software with the Partial Least Square (SEM-
PLS) data analysis tool, namely by conducting outer model analysis (validity test
and reliability test), inner model analysis (structural model test), moderation
variable analysis, and hypothesis testing (T-statistic test).
The results of this study indicate that: 1) Mental accounting has a positive
and significant effect on investment decision-making. 2) Overconfidence has a
positive and significant effect on investment decision-making. 3) Self-attribution
has a positive and significant effect on investment decision-making. 4)
Representativeness has a positive and significant effect on investment decision-
making. 5) Financial literacy does not moderate the influence of mental accounting
on investment decision-making. 6) Financial literacy moderates (strengthens) the
influence of overconfidence on investment decision-making. 7) Financial literacy
moderates (strengthens) the influence of self-attribution on investment decision-
making. 8) Financial literacy does not moderate the influence of representativeness
on investment decision-making.
Keywords: mental accounting, overconfidence, self attribution, representativeness,
financial literacy, investment decision-making
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