The Influence Overconfidance, Loss Aversion, and Herding Bias On Generation Z’s Investment Decisions In The Capital Market: The Moderating Role Of Financial Literacy

Dharmana, Vanessa Putri (2026) The Influence Overconfidance, Loss Aversion, and Herding Bias On Generation Z’s Investment Decisions In The Capital Market: The Moderating Role Of Financial Literacy. Skripsi thesis, STIE YKPN YOGYAKARTA.

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Abstract

This study examines the influence of overconfidence, loss aversion, and herding bias on capital market investment decision-making among Generation Z, with financial literacy serving as a moderating variable. The increasing participation of young investors is not always accompanied by sufficient analytical capability and emotional control, which may lead investment decisions to be shaped by behavioral biases. This research employs a quantitative approach using a survey method. Data were collected through questionnaires distributed to 203 Generation Z respondents who have experience investing in the capital market. Data analysis was conducted using Partial Least Squares Structural Equation Modeling with SmartPLS software. The findings indicate that overconfidence, loss aversion, and herding bias affect investment decision-making. Financial literacy plays a moderating role in the relationship between overconfidence and investment decisions, but does not moderate the influence of loss aversion and herding bias.

Item Type: Thesis (Skripsi)
Additional Information: Tugas Akhir ini bisa dilihat di perpustakaan dengan Call Number DHA P 732/2026
Uncontrolled Keywords: overconfidence, loss aversion, herding bias, financial literacy, investment decision, Generation Z.
Subjects: AKUNTANSI > Akuntansi Manajemen
Divisions: Program Pasca Sarjana > Jurnal Tesis Magister Akuntansi
Depositing User: Unnamed user with email webmaster@stieykpn.ac.id
Date Deposited: 23 Jul 2026 03:13
Last Modified: 23 Jul 2026 03:13
URI: http://repositorybaru.stieykpn.ac.id/id/eprint/3665

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