Pengaruh Risk Perception, Risk Tolerance, Overconfidence Dan Loss Aversion Terhadap Pengambilan Keputusan Investasi

This study aims to examine the effect of risk perception, risk tolerance, overconfidence and loss aversion on investment decision making. The sampling method used in this study was purposive and convenience sampling. The sample in this study were people who had lived at least three years in Surabaya and Jombang and had jobs. There were 200 respondents taken using a questionnaire through the survey method. This study uses PLS-SEM (Partial Least Square-Structural Equation Model) as a data analysis technique. The results of this study indicate that risk perception has a significant negative effect on investment decision making, risk tolerance and overconfidence have a significant positive effect on investment decision making, while loss aversion has no effect on investment decision making. This research is expected to provide an overview of how to deal with risk in investment and how to avoid behavioral biases in investment decisions making. Keywords : Investment Decision Making, Risk Perception, Risk Tolerance, Overconfidence, Loss Aversio