The Effect of Self Monitoring in the Relationship Between Financial Literacy, Herding, and Risk Tolerance with Investment Decisions (Study During The Covid-19 Pandemic)

Authors : Masriani. H; Abdul Hamid Habbe; Darwis Said

Volume/Issue : Volume 6 - 2021, Issue 10 - October

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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.


Paper Submission Last Date
31 - December - 2023

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