The influence of Heuristic Behavior on Investment Decisions in The Emerging Countries: A case in Indonesia Asri Solihat (a*), Nugraha (b), Disman (c), Ikaputera Waspada (d)
Universitas Pendidikan Indonesia
Abstract
This study investigates The influence of Heuristic Behavior (Gamblers Fallacy, Anchoring, Availability, Representativeness and Overconfidence) owned by investors on Investment Decisions in the Emerging Countries: A Case in Indonesia. The population in this study were millennial investors or investors who were less than 30 years old in West Java. The Researchers collected the primary data using questionnaires which were administered to 200 millennial/young investors, our respondents, in West Java. The obtained data were analyzed by using the Linear Regression Test assisted by the SPSS 25. The results showed that Gamblers Fallacy, Anchoring, Availability and Overconfidence have a significant effect on Investment Decisions while Representativeness has no effect on Investment Decisions. This research has practical benefits for investors to improve their ability in the investment decision-making process. This research model is based on gaps in the previous research, as well as methods of collecting data from a population or sample that can be measured.
