Determinan yang Berpengaruh pada Minat Investasi di Pasar Modal
Abstract
Investing in the capital market is an alternative for people who want to invest their excess funds as well as being able to drive the economy in a country. This study aims to obtain empirical evidence regarding the determinants that influence investment interest in the capital market. Determination of the sample in this study using purposive sampling method with a sample of 105 students who have taken the capital market theory course and already have an account of effects. The data analysis technique used is multiple linear regression analysis. The results of the study indicate that investment understanding, motivation, and the bandwagon effect have a positive effect on investment interest in the capital market. This means that the higher the understanding of investment, motivation, and the bandwagon effect phenomenon that occurs, the higher the interest in investing in the capital market.
Keywords: Investing Interest; Investment Understanding; Motivation; Bandwagon Effect.
Downloads
Download data is not yet available.
References
Abdeldayem, M. M. (2016). Is There A Relationship Between Financial Literacy and Investment Decisions in The Kingdom of Bahrain. UCT Journal of Management and Accounting Studies, 4(2), 68–78. https://doi.org/10.24200/jmas.vol4iss02pp68-78
Adiguna, R. S. (2018). Kampanye ‘Yuk Nabung Saham’ IDX Untuk Mengubah Mindset Saving Society Menjadi Investing Society. Jurnal Komunikasi, 9(1), 93–99.
Agestina, N.I., Amin, M., Anwar, S. . (2020). Analisis Pengaruh Modal Minimal, Pemahaman Investasi, dan Teknologi Informasi Terhadap Minat Mahasiswa Berinvestasi di Pasar Modal Ditinjau dari Perspektif Ekonomi Islam. E-JRA, 9(1), 60–68.
Ajzen, I. (1991). The Theory of Planned Behavior. Organizational Behavior and Human Decision Processes, 50, 179–211. https://doi.org/10.1016/0749-5978(91)90020-T
Awais, M., Laber, M.F., Rasheed, Nilofer., Khursheed, A. (2016). Impact of Financial Literacy and Investment Experience on Risk Tolerance and Investment Decisions : Empirical Evidence From Pakistan. International Journal of Economics and Financial Issues, 6(1), 73–79.
Banerji, Joyita., Kundu, Kaushik., Alam, P. A. (2020). Influencee of Behavioral Biases on Investment Behavior. SCMS Journal of Indian Management, 81–98.
Bisnis Bali. (2020). Di Tengah Corona, Jumlah Investor di Bursa Efek Bali Meningkat. Bisnis Bali.
Cherry, K. (2020). Bandwagon Effect as a Cognitive Bias. Verywellmind. https://www.verywellmind.com/what-is-the-bandwagon-effect-2795895
Darmawan, Akhmad and Japar, J. (2020). Investment Knowledge, Minimal Capital, Capital Market Training, and Motivation for Influence of Investment Interest in Sharia Capital Markets. International Journal of Islamic Economics & Business Management in Emerging Market (IJIEBMEM), 1(01), 1–10.
Gayatri. (2020). Teori Pasar Modal dan Investasi. AG Publishing.
Ghozali, I. (2016). Aplikasi Analisis Multivariate dengan Program IBM SPSS 2 (8th ed.). Badan Penerbit Universitas Diponegoro.
Gurusamy, P and Santhiyavani, S. (2019). A Study on Investor Perception Towards Investment in Capital Market With Special Reference To Coimbatore City. Cikitusi Journal For Multidisciplinary Research, 6(8), 72–84.
Hasanah, Afriyanti., Yulinda., Yuniasih, H. (2019). Analisis Pengaruh Bandwagon Effect dan Pengetahuan Investasi terhadap Minat Investasi Mahasiswa di Pasar Modal. Jurnal Bisnis Dan Kewirausahaan, 15(2), 101–107.
Hasibuan, M. S. P. (2016). Manajemen Sumber Daya Manusia (Edisi Revi). Bumi Aksara.
Hati, S. W. & W. S. . (2019). Analisis Faktor-Faktor yang Mempengaruhi Minat Berinvestasi di Pasar Modal Bagi Generasi Milenial (Studi Pada Mahasiswi Jurusan Manajemen Bisnis Politeknik Negeri Batam). Journal of
Business Administration, 3(2), 281–295.
Jannah, Waiqotul & Utami, S. (2017). Analisis Fundamental, Suku Bunga, dan Overconfidence terhadap Pengambilan Keputusan Investasi pada Investor di Surabaya. Jurnal Bisnis Dan Manajemen, 1(2), 138–155. http://dx.doi.org/10.25139/ekt.v0i0.338
kontan.co.id. (2018). Riset Inside ID : Orang Indonesia lebih suka investasi emas ketimbang saham. Kontan.Co.Id. https://investasi.kontan.co.id/news/riset-inside-id-orang-indonesia-lebih-suka-investasi-emas-ketimbang-saham
Kumar, S and Goyal, N. (2016). Evidence on Rationality and Behavioural Biases in Investment Decision Making. Qualitative Research in Financial Markets, 8(4), 270–287. https://doi.org/10.1108/QRFM-05-2016-0016
KumparanNews. (2017). 12,8% Penduduk Malaysia Sudah Investasi Saham, di RI Baru 0,2%. Diunduh Dari
KumparanNews Website : https://kumparan.com/kumparannews/12-8-penduduk-malaysia-sudah-investasi-saham-di-ri-baru-0-2
Le Bon, G. (1895). Crowd Psychology. G. Anagnostides Publications.
Lubis, P. K. . (2019). Influence of Knowledge Investment and Investment Motivation Against The Interest of Investing in The Stock Market on Economic Education Status of Students of State University of Medan. Journal of Physics : Conference Series, 1–5. https://doi.org/10.1088/1742-6596/1387/1/012064
Malik, A. . (2017). Analisa Faktor-Faktor Yang Mempengaruhi Minat Masyarakat Berinvestasi di Pasar Modal Syariah Melalui Bursa Galeri Investasi UISI. Jurnal Ekonomi Dan Bisnis Islam, 3(1), 61–84.
Maslow, A. H. (1943). A theory of human motivation. Psychological Review, 50(4), 370–396. https://doi.org/10.1037/h0054346
Maulana, A.M., Kaukab, M. E. (2020). Apa yang Mempengaruhi Mahasiswa Berminat Investasi Saham ? Jurnal Neraca, 16(1), 1–13.
Mudzakkir, A. (2019). Pengendalian Massa dalam Pemikiran Gustave Le Bon. Jurnal Kajian Ruang Sosial-Budaya. Jurnal Kajian Ruang Sosial-Budaya, 3(1), 65–78. https://doi.org/10.21776/ub.sosiologi.jkrsb.2019.003.1.05
Nalini, R., Alamelu, R., Amudha, R., Motha, L. (2016). Financial Literacy and Its Contributing Factors in Investment Decisions Among Urban Populace. Indian Journal of Science and Technology, 9(27), 1–9. https://doi.org/10.17485/ijst/2016/v9i27/97616
Niesiobedzka, M. (2018). An Experimental Study of The Bandwagon Effect in Conspicuous Consumption. Current Issues in Personality Psychology, 6(1), 26–33. https://doi.org/10.5114/cipp.2017.67896
Nisa, Aminatun & Zulaika, L. (2017). Pengaruh Pemahaman Investasi, Modal Minimal Investasi, dan Motivasi terhadap Minat Mahasiswa Berinvestasi di Pasar Modal. Jurnal PETA, 2(2), 22–35.
Riyadi, A. (2017). Analisis Faktor-Faktor yang Mempengaruhi Minat Mahasiswa Untuk Berinvestasi di Pasar Modal. Jurnal Ekonomi Dan Bisnis, 7(1), 23–41.
Sabir, S.A., Hisham, B.M., Hanita., B. K. . (2019). The Role of Overconfidence and Past Investment Experience in Herding Behaviour With A Moderating Effect Of Financial Literacy : Evidence From Pakistan Stock Exchange. Asian Economic and Financial Review, 9(4), 480–490. https://doi.org/10.18488/journal.aefr.2019.94.480.490
Saputra, D. (2018). Pengaruh Manfaat, Modal, Motivasi, dan Edukasi Terhadap Minat Berinvestasi di Pasar Modal (Studi pada Mahasiswa Sekolah Tinggi Ilmu Ekonomi Balikpapan). Future Jurnal Manajemen Dan Akuntansi, 5(2), 178–190.
Schunk, Dale H. and Dibenedetto, M. K. (2020). Motivation and Social Cognitive Theory. Contemporary Educational Psychology, 60, 1–10. https://doi.org/10.1016/j.cedpsych.2019.101832
Simon, F. (2016). Consumer Adoption of No Junk Mail Sticker : An Extended Planned Behavior Model Assesing The Respective Role of Store Flyer Attachment and Perceived Intrusiveness. Journal of Retailing and Consumer Services, 29, 12–21. https://doi.org/10.1016/j.jretconser.2015.11.003
Stolwijk, S. B., Schuck, A. R. T., & de Vreese, C. H. (2016). How Anxiety and Enthusiasm Help Explain the Bandwagon Effect. International Journal of Public Opinion Research, 29(4), edw018. https://doi.org/10.1093/ijpor/edw018
Sugiyono. (2017). Metode Penelitian Pendekatan Kuantitatif, Kualitatif, dan RAD. Alfabeta.
Tandio, Timothius & Widanaputra, A. A. G. . (2016). Pengaruh Pelatihan Pasar Modal, Return, Persepsi Risiko, Gender, dan Kemajuan Teknologi pada Minat Investasi Mahasiswa. E-Jurnal Akuntansi Universitas Udayana, 16(3), 2316–2341.
tempo.co. (2020). Pandemi Corona, BEI : Jumlah Investor Saham Terus Meningkat. Diunduh Dari Tempo.Co Website. https://bisnis.tempo.co/read/1337780/pandemi-corona-bei-jumlah-investor-saham-terus-meningkat/full&view=ok.
Wibowo, A. & P. (2019). Pengaruh Pengetahuan Investasi, Kebijakan Modal Minimal Investasi, dan Pelatihan Pasar Modal Terhadap Minat Investasi (Studi Kasus Mahasiswa FE Unesa yang Terdaftar di Galeri Investasi FE Unesa). Jurnal Ilmu Manajemen, 7(1), 192–201.
Zakirullah & Rahmawati, S. (2020). Faktor-Faktor Yang Berkontribusi Terhadap Perilaku Herding Pada Investor Saham Ritel di Bursa Efek Indonesia. Jurnal Ilmiah Mahasiswa Ekonomi Manajemen, 5(1), 1–23.
Adiguna, R. S. (2018). Kampanye ‘Yuk Nabung Saham’ IDX Untuk Mengubah Mindset Saving Society Menjadi Investing Society. Jurnal Komunikasi, 9(1), 93–99.
Agestina, N.I., Amin, M., Anwar, S. . (2020). Analisis Pengaruh Modal Minimal, Pemahaman Investasi, dan Teknologi Informasi Terhadap Minat Mahasiswa Berinvestasi di Pasar Modal Ditinjau dari Perspektif Ekonomi Islam. E-JRA, 9(1), 60–68.
Ajzen, I. (1991). The Theory of Planned Behavior. Organizational Behavior and Human Decision Processes, 50, 179–211. https://doi.org/10.1016/0749-5978(91)90020-T
Awais, M., Laber, M.F., Rasheed, Nilofer., Khursheed, A. (2016). Impact of Financial Literacy and Investment Experience on Risk Tolerance and Investment Decisions : Empirical Evidence From Pakistan. International Journal of Economics and Financial Issues, 6(1), 73–79.
Banerji, Joyita., Kundu, Kaushik., Alam, P. A. (2020). Influencee of Behavioral Biases on Investment Behavior. SCMS Journal of Indian Management, 81–98.
Bisnis Bali. (2020). Di Tengah Corona, Jumlah Investor di Bursa Efek Bali Meningkat. Bisnis Bali.
Cherry, K. (2020). Bandwagon Effect as a Cognitive Bias. Verywellmind. https://www.verywellmind.com/what-is-the-bandwagon-effect-2795895
Darmawan, Akhmad and Japar, J. (2020). Investment Knowledge, Minimal Capital, Capital Market Training, and Motivation for Influence of Investment Interest in Sharia Capital Markets. International Journal of Islamic Economics & Business Management in Emerging Market (IJIEBMEM), 1(01), 1–10.
Gayatri. (2020). Teori Pasar Modal dan Investasi. AG Publishing.
Ghozali, I. (2016). Aplikasi Analisis Multivariate dengan Program IBM SPSS 2 (8th ed.). Badan Penerbit Universitas Diponegoro.
Gurusamy, P and Santhiyavani, S. (2019). A Study on Investor Perception Towards Investment in Capital Market With Special Reference To Coimbatore City. Cikitusi Journal For Multidisciplinary Research, 6(8), 72–84.
Hasanah, Afriyanti., Yulinda., Yuniasih, H. (2019). Analisis Pengaruh Bandwagon Effect dan Pengetahuan Investasi terhadap Minat Investasi Mahasiswa di Pasar Modal. Jurnal Bisnis Dan Kewirausahaan, 15(2), 101–107.
Hasibuan, M. S. P. (2016). Manajemen Sumber Daya Manusia (Edisi Revi). Bumi Aksara.
Hati, S. W. & W. S. . (2019). Analisis Faktor-Faktor yang Mempengaruhi Minat Berinvestasi di Pasar Modal Bagi Generasi Milenial (Studi Pada Mahasiswi Jurusan Manajemen Bisnis Politeknik Negeri Batam). Journal of
Business Administration, 3(2), 281–295.
Jannah, Waiqotul & Utami, S. (2017). Analisis Fundamental, Suku Bunga, dan Overconfidence terhadap Pengambilan Keputusan Investasi pada Investor di Surabaya. Jurnal Bisnis Dan Manajemen, 1(2), 138–155. http://dx.doi.org/10.25139/ekt.v0i0.338
kontan.co.id. (2018). Riset Inside ID : Orang Indonesia lebih suka investasi emas ketimbang saham. Kontan.Co.Id. https://investasi.kontan.co.id/news/riset-inside-id-orang-indonesia-lebih-suka-investasi-emas-ketimbang-saham
Kumar, S and Goyal, N. (2016). Evidence on Rationality and Behavioural Biases in Investment Decision Making. Qualitative Research in Financial Markets, 8(4), 270–287. https://doi.org/10.1108/QRFM-05-2016-0016
KumparanNews. (2017). 12,8% Penduduk Malaysia Sudah Investasi Saham, di RI Baru 0,2%. Diunduh Dari
KumparanNews Website : https://kumparan.com/kumparannews/12-8-penduduk-malaysia-sudah-investasi-saham-di-ri-baru-0-2
Le Bon, G. (1895). Crowd Psychology. G. Anagnostides Publications.
Lubis, P. K. . (2019). Influence of Knowledge Investment and Investment Motivation Against The Interest of Investing in The Stock Market on Economic Education Status of Students of State University of Medan. Journal of Physics : Conference Series, 1–5. https://doi.org/10.1088/1742-6596/1387/1/012064
Malik, A. . (2017). Analisa Faktor-Faktor Yang Mempengaruhi Minat Masyarakat Berinvestasi di Pasar Modal Syariah Melalui Bursa Galeri Investasi UISI. Jurnal Ekonomi Dan Bisnis Islam, 3(1), 61–84.
Maslow, A. H. (1943). A theory of human motivation. Psychological Review, 50(4), 370–396. https://doi.org/10.1037/h0054346
Maulana, A.M., Kaukab, M. E. (2020). Apa yang Mempengaruhi Mahasiswa Berminat Investasi Saham ? Jurnal Neraca, 16(1), 1–13.
Mudzakkir, A. (2019). Pengendalian Massa dalam Pemikiran Gustave Le Bon. Jurnal Kajian Ruang Sosial-Budaya. Jurnal Kajian Ruang Sosial-Budaya, 3(1), 65–78. https://doi.org/10.21776/ub.sosiologi.jkrsb.2019.003.1.05
Nalini, R., Alamelu, R., Amudha, R., Motha, L. (2016). Financial Literacy and Its Contributing Factors in Investment Decisions Among Urban Populace. Indian Journal of Science and Technology, 9(27), 1–9. https://doi.org/10.17485/ijst/2016/v9i27/97616
Niesiobedzka, M. (2018). An Experimental Study of The Bandwagon Effect in Conspicuous Consumption. Current Issues in Personality Psychology, 6(1), 26–33. https://doi.org/10.5114/cipp.2017.67896
Nisa, Aminatun & Zulaika, L. (2017). Pengaruh Pemahaman Investasi, Modal Minimal Investasi, dan Motivasi terhadap Minat Mahasiswa Berinvestasi di Pasar Modal. Jurnal PETA, 2(2), 22–35.
Riyadi, A. (2017). Analisis Faktor-Faktor yang Mempengaruhi Minat Mahasiswa Untuk Berinvestasi di Pasar Modal. Jurnal Ekonomi Dan Bisnis, 7(1), 23–41.
Sabir, S.A., Hisham, B.M., Hanita., B. K. . (2019). The Role of Overconfidence and Past Investment Experience in Herding Behaviour With A Moderating Effect Of Financial Literacy : Evidence From Pakistan Stock Exchange. Asian Economic and Financial Review, 9(4), 480–490. https://doi.org/10.18488/journal.aefr.2019.94.480.490
Saputra, D. (2018). Pengaruh Manfaat, Modal, Motivasi, dan Edukasi Terhadap Minat Berinvestasi di Pasar Modal (Studi pada Mahasiswa Sekolah Tinggi Ilmu Ekonomi Balikpapan). Future Jurnal Manajemen Dan Akuntansi, 5(2), 178–190.
Schunk, Dale H. and Dibenedetto, M. K. (2020). Motivation and Social Cognitive Theory. Contemporary Educational Psychology, 60, 1–10. https://doi.org/10.1016/j.cedpsych.2019.101832
Simon, F. (2016). Consumer Adoption of No Junk Mail Sticker : An Extended Planned Behavior Model Assesing The Respective Role of Store Flyer Attachment and Perceived Intrusiveness. Journal of Retailing and Consumer Services, 29, 12–21. https://doi.org/10.1016/j.jretconser.2015.11.003
Stolwijk, S. B., Schuck, A. R. T., & de Vreese, C. H. (2016). How Anxiety and Enthusiasm Help Explain the Bandwagon Effect. International Journal of Public Opinion Research, 29(4), edw018. https://doi.org/10.1093/ijpor/edw018
Sugiyono. (2017). Metode Penelitian Pendekatan Kuantitatif, Kualitatif, dan RAD. Alfabeta.
Tandio, Timothius & Widanaputra, A. A. G. . (2016). Pengaruh Pelatihan Pasar Modal, Return, Persepsi Risiko, Gender, dan Kemajuan Teknologi pada Minat Investasi Mahasiswa. E-Jurnal Akuntansi Universitas Udayana, 16(3), 2316–2341.
tempo.co. (2020). Pandemi Corona, BEI : Jumlah Investor Saham Terus Meningkat. Diunduh Dari Tempo.Co Website. https://bisnis.tempo.co/read/1337780/pandemi-corona-bei-jumlah-investor-saham-terus-meningkat/full&view=ok.
Wibowo, A. & P. (2019). Pengaruh Pengetahuan Investasi, Kebijakan Modal Minimal Investasi, dan Pelatihan Pasar Modal Terhadap Minat Investasi (Studi Kasus Mahasiswa FE Unesa yang Terdaftar di Galeri Investasi FE Unesa). Jurnal Ilmu Manajemen, 7(1), 192–201.
Zakirullah & Rahmawati, S. (2020). Faktor-Faktor Yang Berkontribusi Terhadap Perilaku Herding Pada Investor Saham Ritel di Bursa Efek Indonesia. Jurnal Ilmiah Mahasiswa Ekonomi Manajemen, 5(1), 1–23.
Published
2021-05-25
How to Cite
SITA DEWI, Luh Putu; GAYATRI, Gayatri.
Determinan yang Berpengaruh pada Minat Investasi di Pasar Modal.
E-Jurnal Akuntansi, [S.l.], v. 31, n. 5, p. 1082-1096, may 2021.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/66111>. Date accessed: 24 nov. 2024.
doi: https://doi.org/10.24843/EJA.2021.v31.i05.p02.
Issue
Section
Artikel
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
