MODERASI KEMBALI KESEPAKATAN INVESTOR ATAS MODERASI BERITA, INFLUENCER, DAN MARKET STRESS PADA PENGARUH SENTIMEN INVESTOR ATAS TERJADINYA HERDING

Dian Kurnianingrum, - and Nugraha, - and Disman, - and Budi Supriatono Purnomo, - (2025) MODERASI KEMBALI KESEPAKATAN INVESTOR ATAS MODERASI BERITA, INFLUENCER, DAN MARKET STRESS PADA PENGARUH SENTIMEN INVESTOR ATAS TERJADINYA HERDING. S3 thesis, Universitas Pendidikan Indonesia.

Abstract

This research aims to analyze how investor agreement moderates the moderation effect of monetary economic news, stock influencer opinions, and market stress on the impact of investor sentiment on herding behavior in the stock market. The research subject is LQ45 companies in Indonesia. The object of the research is investor sentiment (X) as the independent variable, herding behavior in the stock market (Y) as the dependent variable, monetary and economic news (W1), stock influencers (W2), and market stress (W3) as moderation variables, and investor agreement (Z) as a sub-moderation variable. The research was conducted from June 27, 2022, to June 28, 2023. The data for the herding variable was taken from daily stock prices, while the data for other variables was collected from Twitter microblogging posts. Data analysis was carried out using a quantitative method in two main steps. The first step was analyzing the research variables by using sentiment analysis for the investor sentiment, monetary economic news, stock influencer, and market stress variables. For the herding variable, its value was determined by calculating price dispersion using CSAD (Cross Sectional Absolute Deviation). The second step involved processing all data, which had been converted into ratio format, using Hayes’ moderated moderation model 3 to answer the research questions. The research results show that monetary economic news, stock influencers, and market stress moderate the relationship between investor sentiment and herding behavior in the stock market. In addition, investor agreement as a moderated moderation can strengthen or weaken this influence. This research provides new contributions to understanding herding behavior in the Indonesian stock market by utilizing Twitter data to analyze the relationships between variables. It also complements previous studies by introducing a new perspective, which is the role of investor agreement as a moderated moderation that strengthens or weakens the moderating effects of the research variables on herding behavior in the stock market. This study contributes to behavioral finance literature by proving the relevance of social media as a valid data source to analyze market behavior and revealing the role of investor agreement in creating market volatility.

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Item Type:	Thesis (S3)
Additional Information:	SINTA ID DOSEN PEMBIMBING Nugraha: 5994754 Disman: 5991816 Budi Supriatono Purnomo: 5996343
Uncontrolled Keywords:	Keuangan Keperilakukan, Sentimen Investor, herading, Kesepakatan investor, media Sosial
Subjects:	H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HG Finance L Education > L Education (General)
Divisions:	Fakultas Pendidikan Ekonomi dan Bisnis > Manajemen (non kependidikan)
Depositing User:	Dian Kurnianingrum
Date Deposited:	04 Nov 2025 06:21
Last Modified:	04 Nov 2025 06:21
URI:	http://repository.upi.edu/id/eprint/142214

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