La titularidad de los derechos patrimoniales de esta obra pertenece a las instituciones editoras. Su uso se rige por una licencia Creative Commons BY 4.0 Internacional, https://creativecommons.org/licenses/by/4.0/legalcode.es, para un uso diferente consultar al responsable jurídico del repositorio por medio del correo electrónico revista_cya@fca.unam.mx.
Ver términos de la licenciaMusnadi, Said, et al. (2025). Exploring overconfidence bias and demographic moderation in aggressive investor behavior; Evidence from Indonesia stock exchange (IDX). Contaduría y Administración; Vol. 70, Núm. 2. Recuperado de https://repositorio.unam.mx/contenidos/4158953
Autor(es)
Musnadi, Said; Universitas Syiah Kuala; Sofyan, Sofyan; Universitas Syiah Kuala; Zuraida, Zuraida; Universitas Syiah Kuala; Rizal, Muhammad; Universitas Samudra; Agustina, Maulidar; Universitas Syiah Kuala; Musnadi, Said; Universitas Syiah Kuala; Sofyan, Sofyan; Universitas Syiah Kuala; Zuraida, Zuraida; Universitas Syiah Kuala; Rizal, Muhammad; Universitas Samudra; Agustina, Maulidar; Universitas Syiah Kuala
Tipo
Artículo de Investigación
Área del conocimiento
Ciencias Sociales y Económicas
Título
Exploring overconfidence bias and demographic moderation in aggressive investor behavior; Evidence from Indonesia stock exchange (IDX)
Fecha
2024-08-07
Resumen
This study aims to investigate two primary objectives: first, to examine the role of overconfident variables in mediating the impact of fundamental information and bandarmology on aggressive investor behavior; and second, to assess the influence of demographic factors in moderating the effect of overconfident variables on aggressive investor behavior. The research employed a questionnaire as the primary data collection tool, utilizing Google Forms for distribution through multistage purposive random sampling techniques to reach 981 investors across diverse regions in Indonesia. Data analysis was conducted using structural equation modeling via the smartPLS software, revealing that overconfident variables can mediate the influence of fundamental, technical, and bandarmology information on aggressive investor behavior. Moreover, demographic factors like domicile, education, and marital status were found to moderate the relationship between overconfident variables and aggressive investor behavior on the Indonesia Stock Exchange. These findings contribute significantly to the advancement of financial behavior theory, particularly prospect theory and overconfidence. The novelty of this study lies in its exploration of the intricate relationship between demographic factors and their potential moderating impact on overconfidence in aggressive investor behavior, marking a new avenue in understanding the behavior of aggressive investors within the Indonesian market.
Tema
Finance and Behavioral Finance; Investment Management; : investor behavior; overconfidence; demographic factors; financial markets; structural equation modelling; Finance and Behavioral Finance; Investment Management; : investor behavior; overconfidence; demographic factors; financial markets; structural equation modelling
Idioma
spa
ISSN
ISSN electrónico: 2448-8410; ISSN impreso: 0186-1042
