Examining the predictors of crypto investor decision: The relationship between overconfidence, financial literacy, and attitude

Yofi Syarkani and Triyono Adi Tristanto
Additional contact information
Yofi Syarkani: Universitas Langlangbuana
Triyono Adi Tristanto: Institut Bisnis dan Informatika Kosgoro 1957

International Journal of Research in Business and Social Science (2147-4478), 2022, vol. 11, issue 6, 324-333

Abstract: The rise in the cryptocurrency market has led many individuals to start their investment. However, individuals are affected by several factors in their decision-making process to invest. The objective of this study is to examine the factors that can predict the decision to invest in the cryptocurrency market, by utilizing the variables of overconfidence, financial literacy, and attitude. This study also explores the role of attitude in mediating the influence of overconfidence and financial literacy on investor decisions. The population of this study is individual student investors in three top universities in Indonesia. This study uses a non-probability sampling technique, with purposive sampling that includes several criteria to determine the number of samples. The data is collected by distributing questionnaires to the students using Google Forms. The total number of respondents in this study, who returned the questionnaire that has been filled is 297 students. The data obtained from respondents is analyzed using Structural Equation Modeling with Partial Least Square (SEM-PLS). Finally, the results of this study have proved that: (1) Overconfidence has a positive influence on attitude; (2) Financial literacy has a positive influence on attitude; (3) Overconfidence has a positive influence on investor decision; (4) Financial literacy has a positive influence on investor decision; (5) Attitude has a positive influence on investor decision; (6) Attitude mediates the influence of overconfidence on investor decision; and (7) Attitude mediates the influence of overconfidence on investor decision. The implications for scholars and crypto investors are also provided in this study. Key Words:Overconfidence, Financial Literacy, Attitude, Investor Decision, Cryptocurrency Market

Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.ssbfnet.com/ojs/index.php/ijrbs/article/view/1940/1452 (application/pdf)
https://doi.org/10.20525/ijrbs.v11i6.1940 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rbs:ijbrss:v:11:y:2022:i:6:p:324-333

Access Statistics for this article

International Journal of Research in Business and Social Science (2147-4478) is currently edited by Prof.Dr.Umit Hacioglu

More articles in International Journal of Research in Business and Social Science (2147-4478) from Center for the Strategic Studies in Business and Finance Editorial Office,Baris Mah. Enver Adakan Cd. No: 5/8, Beylikduzu, Istanbul, Turkey. Contact information at EDIRC.
Bibliographic data for series maintained by Umit Hacioglu ().