Moderating Effect of Demographic Factors on The Influence of Cognitive Bias on Investment Decisions

Elva Herlianti (), Nugraha Nugraha, Yayat Supriatna and Maya Sari
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Elva Herlianti: Universitas Pendidikan Indonesia
Nugraha Nugraha: Universitas Pendidikan Indonesia
Yayat Supriatna: Universitas Pendidikan Indonesia
Maya Sari: Universitas Pendidikan Indonesia

A chapter in Proceedings of the 9th Global Conference on Business, Management and Entrepreneurship (GCBME 2024), 2025, pp 426-432 from Springer

Abstract: Abstract In investment decisions, several things need to be considered, especially cognitive biases which influence investment decisions because cognitive bias is a psychological phenomenon that influences financial behavior in stock players (practitioners) and how humans behave in determining actual finances in financial arrangements. Besides that, it is also a description of how humans take action in the decision-making process from the information they obtain and influence financial behavior based on emotional factors. Then, the decision-making process carried out by a person is no longer entirely rational. Apart from that, an investment decision is a sacrifice of current value that is certain for a future value that may not even be certain. The investment contains elements of expected return and risk due to uncertainty in the future, and in investment, there is a term, namely high risk - high return.

Keywords: Cognitive Bias; Demographic Factors; Investment Decisions (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-817-2_52

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DOI: 10.2991/978-94-6463-817-2_52

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