Pengaruh Herding Bias, Illusion of Control Bias, Cognitive Dissonance Bias, dan Loss Aversion Bias terhadap Keputusan Investasi di Reksa Dana

Abstract

This study aims to analyze the influence of herding bias, illusion of control bias, cognitive dissonance bias, and loss aversion bias to investment decision in reksa dana. This study uses quantitative methods with data collection techniques using a questionnaire which was distributed to investors 100 respondents with samples of investors residing in Medan and aged over 17 years. This study is using statistical tools named SPSS to processing the data and testing the questionnaire study using validity test and reliability test. Methods of analysis is using the classic assumption test, multiple linear regression analysis, hypothesis test. The results of this research show that herding bias, illusion of control bias, cognitive dissonance bias, and loss aversion bias has a positive influence on investor’s investment decision making in reksa dana.