{"id":"https://openalex.org/W4391496617","doi":"https://doi.org/10.24912/jmieb.v7i2.23380","title":"PENGARUH HERDING BEHAVIOR, LOSS AVERSION, DAN FINANCIAL LITERACY TERHADAP INVESTMENT DECISION","display_name":"PENGARUH HERDING BEHAVIOR, LOSS AVERSION, DAN FINANCIAL LITERACY TERHADAP INVESTMENT DECISION","publication_year":2023,"publication_date":"2023-10-24","ids":{"openalex":"https://openalex.org/W4391496617","doi":"https://doi.org/10.24912/jmieb.v7i2.23380"},"language":"id","primary_location":{"id":"doi:10.24912/jmieb.v7i2.23380","doi":"https://doi.org/10.24912/jmieb.v7i2.23380","is_oa":true,"landing_page_url":"http://dx.doi.org/10.24912/jmieb.v7i2.23380","pdf_url":"https://journal.untar.ac.id/index.php/jmieb/article/download/23380/16204","source":{"id":"https://openalex.org/S4210239010","display_name":"Jurnal Muara Ilmu Ekonomi dan Bisnis","issn_l":"2579-6224","issn":["2579-6224","2579-6232"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310315070","host_organization_name":"Tarumanagara University","host_organization_lineage":["https://openalex.org/P4310315070"],"host_organization_lineage_names":["Tarumanagara University"],"type":"journal"},"license":"cc-by-nc-sa","license_id":"https://openalex.org/licenses/cc-by-nc-sa","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Jurnal Muara Ilmu Ekonomi dan Bisnis","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"diamond","oa_url":"https://journal.untar.ac.id/index.php/jmieb/article/download/23380/16204","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5093853087","display_name":"Victor Hofa Limarus","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I1102219","display_name":"Tarumanagara University","ror":"https://ror.org/04r0rbk24","country_code":"ID","type":"education","lineage":["https://openalex.org/I1102219"]}],"countries":["ID"],"is_corresponding":false,"raw_author_name":"Victor Hofa Limarus","raw_affiliation_strings":["Jurusan Manajemen, Universitas Tarumanagara Jakarta"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Jurusan Manajemen, Universitas Tarumanagara Jakarta","institution_ids":["https://openalex.org/I1102219"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5051872676","display_name":"Ary Satria Pamungkas","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I1102219","display_name":"Tarumanagara University","ror":"https://ror.org/04r0rbk24","country_code":"ID","type":"education","lineage":["https://openalex.org/I1102219"]}],"countries":["ID"],"is_corresponding":false,"raw_author_name":"Ary Pamungkas","raw_affiliation_strings":["Universitas Tarumanagara"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Universitas Tarumanagara","institution_ids":["https://openalex.org/I1102219"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I1102219"],"apc_list":null,"apc_paid":null,"fwci":4.7289,"has_fulltext":true,"cited_by_count":14,"citation_normalized_percentile":{"value":0.95321379,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":97,"max":99},"biblio":{"volume":"7","issue":"2","first_page":"389","last_page":"401"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T13744","display_name":"Financial Literacy and Behavior","score":0.9945999979972839,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T13744","display_name":"Financial Literacy and Behavior","score":0.9945999979972839,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.002199999988079071,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.0010000000474974513,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/herding-behavior","display_name":"herding behavior","score":0.9779999852180481},{"id":"https://openalex.org/keywords/loss-aversion","display_name":"loss aversion","score":1.0},{"id":"https://openalex.org/keywords/financial-literacy","display_name":"financial literacy","score":1.0},{"id":"https://openalex.org/keywords/investment-decisions","display_name":"investment decision-making","score":0.8240000009536743},{"id":"https://openalex.org/keywords/generation-z-investors","display_name":"Generation Z investors","score":0.7950000166893005},{"id":"https://openalex.org/keywords/behavioral-finance","display_name":"behavioral finance","score":0.7239999771118164},{"id":"https://openalex.org/keywords/investor-behavior","display_name":"investor behavior","score":0.6349999904632568}],"concepts":[{"id":"https://openalex.org/C177605951","wikidata":"https://www.wikidata.org/wiki/Q1484503","display_name":"Herding","level":2,"score":0.8758153915405273},{"id":"https://openalex.org/C2777941463","wikidata":"https://www.wikidata.org/wiki/Q1416374","display_name":"Financial literacy","level":2,"score":0.7653123736381531},{"id":"https://openalex.org/C2778174566","wikidata":"https://www.wikidata.org/wiki/Q2874240","display_name":"Loss aversion","level":2,"score":0.688337504863739},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.5316653251647949},{"id":"https://openalex.org/C129915516","wikidata":"https://www.wikidata.org/wiki/Q17083550","display_name":"Risk aversion (psychology)","level":3,"score":0.4456534683704376},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.41467222571372986},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.3962442874908447},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.3207506537437439},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.30168741941452026},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.2046964466571808},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.09713995456695557},{"id":"https://openalex.org/C205706631","wikidata":"https://www.wikidata.org/wiki/Q2319304","display_name":"Expected utility hypothesis","level":2,"score":0.09668031334877014},{"id":"https://openalex.org/C205649164","wikidata":"https://www.wikidata.org/wiki/Q1071","display_name":"Geography","level":0,"score":0.05217048525810242},{"id":"https://openalex.org/C97137747","wikidata":"https://www.wikidata.org/wiki/Q38112","display_name":"Forestry","level":1,"score":0.04277560114860535},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.24912/jmieb.v7i2.23380","doi":"https://doi.org/10.24912/jmieb.v7i2.23380","is_oa":true,"landing_page_url":"http://dx.doi.org/10.24912/jmieb.v7i2.23380","pdf_url":"https://journal.untar.ac.id/index.php/jmieb/article/download/23380/16204","source":{"id":"https://openalex.org/S4210239010","display_name":"Jurnal Muara Ilmu Ekonomi dan Bisnis","issn_l":"2579-6224","issn":["2579-6224","2579-6232"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310315070","host_organization_name":"Tarumanagara University","host_organization_lineage":["https://openalex.org/P4310315070"],"host_organization_lineage_names":["Tarumanagara University"],"type":"journal"},"license":"cc-by-nc-sa","license_id":"https://openalex.org/licenses/cc-by-nc-sa","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Jurnal Muara Ilmu Ekonomi dan Bisnis","raw_type":"journal-article"}],"best_oa_location":{"id":"doi:10.24912/jmieb.v7i2.23380","doi":"https://doi.org/10.24912/jmieb.v7i2.23380","is_oa":true,"landing_page_url":"http://dx.doi.org/10.24912/jmieb.v7i2.23380","pdf_url":"https://journal.untar.ac.id/index.php/jmieb/article/download/23380/16204","source":{"id":"https://openalex.org/S4210239010","display_name":"Jurnal Muara Ilmu Ekonomi dan Bisnis","issn_l":"2579-6224","issn":["2579-6224","2579-6232"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310315070","host_organization_name":"Tarumanagara University","host_organization_lineage":["https://openalex.org/P4310315070"],"host_organization_lineage_names":["Tarumanagara University"],"type":"journal"},"license":"cc-by-nc-sa","license_id":"https://openalex.org/licenses/cc-by-nc-sa","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Jurnal Muara Ilmu Ekonomi dan Bisnis","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[{"id":"https://openalex.org/study-designs/observational-study","display_name":"Observational Study"}],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4391496617.pdf","grobid_xml":"https://content.openalex.org/works/W4391496617.grobid-xml"},"referenced_works_count":17,"referenced_works":["https://openalex.org/W1988050849","https://openalex.org/W2159258882","https://openalex.org/W2941866048","https://openalex.org/W3012479414","https://openalex.org/W3047761911","https://openalex.org/W3089665172","https://openalex.org/W3109414124","https://openalex.org/W3111285385","https://openalex.org/W3159273083","https://openalex.org/W3166473759","https://openalex.org/W3174151081","https://openalex.org/W3216989395","https://openalex.org/W4253560924","https://openalex.org/W4281395773","https://openalex.org/W4292608009","https://openalex.org/W4292609201","https://openalex.org/W4313566872"],"related_works":["https://openalex.org/W7126240031","https://openalex.org/W4307981141","https://openalex.org/W7033144798","https://openalex.org/W4401681702","https://openalex.org/W7042417301","https://openalex.org/W6995811615","https://openalex.org/W4390562331","https://openalex.org/W7171260259","https://openalex.org/W7165360237","https://openalex.org/W4413763261"],"abstract_inverted_index":{"Tujuan":[0],"dari":[1],"penelitian":[2,19,59],"ini":[3,20,60],"adalah":[4],"untuk":[5,114],"mengetahui":[6],"pengaruh":[7],"Herding":[8,63,79,156,213,234],"Behavior,":[9,64,157,214],"Loss":[10,65,103,158,215,260],"Aversion,":[11,66,159,216],"dan":[12,46,67,91,112],"Financial":[13,68,124,161,218,285],"Literacy":[14,69,125,162,219],"terhadap":[15,72],"Investment":[16,73,164,225],"Decision.":[17,74,165,226],"Sampel":[18],"sebanyak":[21],"210":[22,172],"responden":[23],"Gen":[24,173],"Z":[25,174],"yang":[26,51,76,81,88,94,143],"tinggal":[27],"di":[28],"Jakarta.":[29,179],"Pengambilan":[30],"sampel":[31],"dilakukan":[32],"melalui":[33,38],"penyebaran":[34],"kuesioner":[35],"secara":[36],"online":[37,187],"Google":[39,189],"form,":[40,190],"dengan":[41,53],"menggunakan":[42],"teknik":[43,47],"convenience":[44,192],"sampling":[45,193],"analisis":[48],"data":[49,197],"PLS-SEM":[50,196],"diolah":[52],"Smart-PLS":[54,202],"Software":[55,203],"versi":[56],"4.":[57,205],"Hasil":[58],"menunjukkan":[61],"bahwa":[62],"berpengaruh":[70],"positif":[71],"Investor":[75],"memiliki":[77],"tingkat":[78,102,123],"Behavior":[80,235],"tinggi":[82,101,122,129],"akan":[83,109,138],"cenderung":[84],"mengikuti":[85],"investor":[86,106,108,126,131,137],"lain":[87],"lebih":[89,110],"berpengalaman":[90],"mempunyai":[92],"reputasi":[93],"baik":[95],"dalam":[96,117],"membuat":[97,118,140],"keputusan":[98,119,141],"investasi.":[99,120],"Semakin":[100,121],"Aversion":[104,261],"pada":[105],"maka":[107,127],"berhati-hati":[111],"berusaha":[113],"menghindari":[115],"kerugian":[116],"semakin":[128],"pemahaman":[130],"tentang":[132],"konsep":[133],"dasar":[134],"keuangan,":[135],"sehingga":[136],"dapat":[139],"investasi":[142],"baik.":[144],"The":[145,166,206,255,279],"purpose":[146],"of":[147,155,208,233,259,284,292],"this":[148,169,209],"study":[149,170,210],"is":[150],"to":[151,238,272,302],"determine":[152],"the":[153,257,264,281,287,289],"influence":[154],"and":[160,195,217,246,270],"on":[163,224],"sample":[167],"for":[168],"was":[171,181],"respondents":[175],"who":[176,228,242],"lived":[177],"in":[178,251,262,275],"Sampling":[180],"carried":[182],"out":[183],"by":[184],"distributing":[185],"questionnaires":[186],"via":[188],"using":[191],"techniques":[194,199],"analysis":[198],"processed":[200],"with":[201],"version":[204],"results":[207],"show":[211],"that":[212,297],"have":[220,229,247],"a":[221,230,248],"positive":[222],"effect":[223],"Investors":[227],"high":[231],"level":[232,258,283],"will":[236,268,299],"tend":[237],"follow":[239],"other":[240],"investors":[241,267,298],"are":[243],"more":[244,265],"experienced":[245],"good":[249,304],"reputation":[250],"making":[252,276],"investment":[253,277,305],"decisions.":[254,278,306],"higher":[256,280,288],"investors,":[263],"careful":[266],"be":[269,300],"try":[271],"avoid":[273],"losses":[274],"investor's":[282,290],"Literacy,":[286],"understanding":[291],"basic":[293],"financial":[294],"concepts,":[295],"so":[296],"able":[301],"make":[303]},"counts_by_year":[{"year":2026,"cited_by_count":10},{"year":2025,"cited_by_count":4}],"updated_date":"2026-11-07T11:25:07.637180","created_date":"2024-02-03T00:00:00"}