KEPUTUSAN INVESTASI EMAS PADA GENERASI Y DI JAWA BARAT: PERAN OVERCONFIDENCE, HERDING BEHAVIOR, DAN MODERASI RELIGIOSITAS

    Thalia Adha Winandi, - and Hilda Monoarfa, - and Suci Aprilliani Utami, - (2025) KEPUTUSAN INVESTASI EMAS PADA GENERASI Y DI JAWA BARAT: PERAN OVERCONFIDENCE, HERDING BEHAVIOR, DAN MODERASI RELIGIOSITAS. S1 thesis, Universitas Pendidikan Indonesia.

    Abstract

    Penelitian akan menggunakan metode kuantitatif deskriptif dengan melakukan survei terhadap Generasi Y di Jawa Barat, memanfaatkan kuesioner sebagai alat pengumpulan data, dan menggunakan metode Structural Equation Modeling-Partial Least Square (SEM-PLS) sebagai alat analisis. Hasil penelitian menunjukkan bahwa tingkat overconfidence, herding behavior, dan keputusan investasi emas berada pada tingkat tinggi. Dan tingkat religiositas Islam berada pada kategori sangat tinggi. Variabel herding behavior berpengaruh positif dan signifikan, namun variabel overconfidence tidak berpengaruh signifikan. Variabel religiositas juga memiliki pengaruh positif terhadap keputusan investasi, namun tidak mampu memoderasi hubungan antara overconfidence dan herding behavior terhadap keputusan investasi. Penelitian ini memperkuat teori behavioral finance yang menyatakan bahwa bias psikologis memengaruhi keputusan investasi, serta menekankan pentingnya religiositas dalam proses pengambilan keputusan keuangan di kalangan investor syariah. Implikasi dari temuan ini dapat digunakan sebagai dasar oleh lembaga keuangan, regulator, maupun edukator dalam merancang strategi peningkatan literasi dan inklusi keuangan syariah bagi Gen Y. The emergence of the phenomenon where Generation Y, as the nation's future, exhibits relatively low financial literacy and minimal gold investment participation has become a central focus. The aim of this study is to examine the relationship between overconfidence, herding behavior, and religiosity as a moderating variable toward gold investment decisions among Generation Y at Islamic financial institutions in West Java. This research employs a descriptive quantitative method by conducting a survey of Generation Y in West Java, utilizing a questionnaire as the data collection instrument, and applying the Structural Equation Modeling-Partial Least Square (SEM-PLS) method as the analytical tool. The findings reveal that the levels of overconfidence, herding behavior, and gold investment decisions are high, while the level of Islamic religiosity falls into the very high category. The herding behavior variable has a positive and significant effect, whereas the overconfidence variable shows no significant effect. Religiosity also has a positive influence on investment decisions but does not moderate the relationship between overconfidence and herding behavior with investment decisions. This study reinforces behavioral finance theory, which posits that psychological biases influence investment decisions, and highlights the importance of religiosity in the financial decision-making process among Islamic investors. The implications of these findings can serve as a foundation for financial institutions, regulators, and educators in designing strategies to enhance Islamic financial literacy and inclusion among Generation Y.

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    Official URL: https://repository.upi.edu/
    Item Type: Thesis (S1)
    Additional Information: ID SINTA Dosen Pembimbing: HIlda Monoarfa: 6120134 Suci Aprilliani Utami: 6006385
    Uncontrolled Keywords: keputusan investasi emas, overconfidence, herding behavior, religiositas, lembaga keuangan syariah. gold investment decisions, overconfidence, herding behavior, religiosity, Islamic financial institutions
    Subjects: H Social Sciences > HB Economic Theory
    H Social Sciences > HG Finance
    L Education > L Education (General)
    Divisions: Fakultas Pendidikan Ekonomi dan Bisnis > Ilmu Ekonomi dan Keuangan Islam
    Depositing User: Thalia Adha Winandi
    Date Deposited: 20 Aug 2025 07:38
    Last Modified: 20 Aug 2025 07:47
    URI: http://repository.upi.edu/id/eprint/135894

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