Peran Financial Literacy Dalam Memoderasi Pengaruh Overconfidence Bias, Herding Bias, Dan Anchoring Bias Terhadap Intensitas Keputusan Investasi Saham Pada Gen Z Daerah Istimewa Yogyakarta

Nenta, Yosep Armando (2026) Peran Financial Literacy Dalam Memoderasi Pengaruh Overconfidence Bias, Herding Bias, Dan Anchoring Bias Terhadap Intensitas Keputusan Investasi Saham Pada Gen Z Daerah Istimewa Yogyakarta. Diploma thesis, STIE YKPN YOGYAKARTA.

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Abstract

The increasing participation of Generation Z in stock investment in the digital era presents challenges related to the emergence of behavioral biases that may influence investment decisions. This study aims to examine the effects of overconfidence bias, herding bias, and anchoring bias on the intensity of investment decisions, as well as the role of financial literacy as a moderating variable based on Behavioral Finance Theory. This study employed a quantitative approach through a survey of 166 Generation Z investors in the Special Region of Yogyakarta who met the research criteria. Data were collected using a Likert-scale questionnaire and analyzed using the PLS-SEM method. The financial literacy variable in this study was measured based on respondents’ perceptions of their understanding and ability to manage financial information (perceived financial literacy). The results indicate that overconfidence bias and herding bias have a positive and significant effect on the intensity of investment decisions, whereas anchoring bias has a negative and significant effect on the intensity of investment decisions, contrary to the direction of the initial hypothesis that predicted a positive effect. Furthermore, financial literacy is unable to moderate the effects of overconfidence bias, herding bias, or anchoring bias on the intensity of investment decisions.

Item Type:	Thesis (Diploma)
Additional Information:	Tugas Akhir ini bisa dilihat di perpustakaan dengan Call Number NEN P 771/2026
Uncontrolled Keywords:	Overconfidence bias, herding bias, anchoring bias, financial literacy, intensity of stock investment decisions, Gen Z Special Region of Yogyakarta
Subjects:	AKUNTANSI > Analisis Laporan Keuangan
Divisions:	Program Pasca Sarjana > Jurnal Tesis Magister Akuntansi
Depositing User:	Unnamed user with email webmaster@stieykpn.ac.id
Date Deposited:	30 Sep 2026 04:50
Last Modified:	30 Sep 2026 04:50
URI:	http://repositorybaru.stieykpn.ac.id/id/eprint/3697

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