The phenomenon of the growth in the number
of investors in the capital market experiencing a rapid
increase as seen in the Single Investor Identification (SID)
even though amid the Covid-19 pandemic sentiment,
because a number of investors shifted their funds from
the real sector to capital market instruments as a result of
all activities and limited mobility and some real sectors
contracted during the pandemic. The more investors there
are, the more investment decisions will be made
automatically. So this study aims to analyze the influence
of financial literacy, herding, and risk tolerance to
investment decisions and the effect of self-monitoring as
variables that moderate the relationship between financial
literacy, herding, and risk tolerance to investment
decisions. The research method uses the SPSS 23 program
with moderated regression analysis (MRA) data analysis
and distributes questionnaires using Google forms so that
the research sample is 90 respondents. The results showed
that financial literacy and risk tolerance had a positive
effect on investment decisions. Herding has no effect on
investment decisions. Self monitoring does not moderate
the relationship of a financial literacy, herding, dan risk
tolerance to investment decisions. The implications of the
results of this study will expand investors' knowledge
about the decision-making process and can make good
decisions by thinking rationally to avoid making wrong
decisions.
Keywords : Financial Literacy, Herding, Risk Tolerance, Self Monitoring and Investment Decisions.