The Influence of Investment Knowledge, Self Control, and Herding Behavior on Stock Investment Decisions of Investors in Pontianak City

Résumé

This study aims to determine the effect of Investment Knowledge, Self Control, and Herding Behavior on Investment Decisions for investors in Pontianak City. The phenomenon of the increasing number of investors, especially from millennials and generation Z, encourages the need to understand the factors that influence their investment decisions. This study uses a quantitative approach with an associative method. Primary data was obtained through questionnaires distributed to investor respondents, while secondary data was obtained from literature and official sources such as the Indonesia Stock Exchange (IDX). The research sample consisted of stock investors who actively invest in Pontianak City. The results of multiple linear regression analysis show that the variables Investment Knowledge and Self Control simultaneously have a significant effect on Investment Decisions, with a coefficient of determination (R²) of 0.752. However, based on the partial test (t-test), only Investment Knowledge is proven to have a significant effect individually, while Self Control and Herding Behavior do not have a significant effect. The correlation between variables shows a strong relationship between the three and investment decisions (r = 0.867). Thus, it can be concluded that investment knowledge is a dominant factor in investment decision making by investors in Pontianak. This research is expected to be a reference for investors and related institutions to improve financial literacy in making more rational investment decisions.