Pengaruh Herding Bias, Overconfidence Bias, dan Cognitive Dissonance Bias terhadap Keputusan Investasi

The purpose of this study is to analyze investor behavior influenced by herding bias, overconfidence bias, and cognitive dissonance bias on investment decision making. Investors were given a questionnaire as part of the quantitative data collection for this study. This study used data from a sample of 102 investors who had all been active in the capital market for at least one year, had traded, and had invested at least twice. Several statistical analyses, including convergent and discriminant validity tests, composite reliability, and significance tests, were performed on the data collected for this study. Information from this study was statistically analyzed using the SmartPLS 3.0 program. The results of this study indicate that Herding bias does not significantly affect investment decision making, overconfidence bias has a positive and significant effect on investment decision making. Cognitive dissonance bias does not significantly affect investment decision making. In this study, investors are expected to pay more attention to the latest information, suggestions, and input from other parties as considerations in the future in making investment decisions. Investors are expected to be able to control themselves in the decision-making process by considering the risks more