THE INFLUENCE OF FINANCIAL TECHNOLOGY, RISK TOLERANCE, FINANCIAL SELF-EFFICACY, COGNITIVE DISSONANCE BIAS, AND LOSS AVERSION ON INVESTMENT DECISIONS

Muhammad Ramadhan Pamungkas; Fathi Rifqi  Mu’afa; Yordan Ifraim  Risyafa; Dicky  Rizkyadi

doi:10.51903/dinamika.v6i2.1460

Authors

Muhammad Ramadhan Pamungkas Universitas Sains Al-Qur’an Wonosobo
Fathi Rifqi Mu’afa Universitas Sains Al-Qur’an Wonosobo
Yordan Ifraim Risyafa Universitas Sains Al-Qur’an Wonosobo
Dicky Rizkyadi Universitas Sains Al-Qur’an Wonosobo

DOI:

https://doi.org/10.51903/dinamika.v6i2.1460

Keywords:

Investment Decision,Financial Technology, Risk Tolerance, Financial Self-Efficacy, Cognitive Dissonance Bias, Loss Aversion

Abstract

Investment decisions are shaped by various investor considerations, including financial technology, risk tolerance, financial self-efficacy, cognitive dissonance bias, and loss aversion. Because the findings of previous studies have been inconsistent, this study re-examines the effect of these five variables on investment decisions. Data were collected quantitatively from 100 respondents in Wonosobo Regency, with the sample size determined using the Slovin formula, and analyzed using multiple linear regression. The simultaneous test shows that all independent variables have a significant effect on investment decisions. However, the partial test shows that only financial self-efficacy and cognitive dissonance bias are significant, indicating that investors take these two factors into account when investing. Meanwhile, financial technology, risk tolerance, and loss aversion show no significant effect

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