Syah, Rafli Raikhan (2026) Pengaruh Herding Bias, Sentimen Investor, dan Anchoring Bias Terhadap Keputusan Investasi Dengan Literasi Finansial Sebagai Moderasi pada Gen Z di Kabupaten Sidoarjo. Undergraduate thesis, UPN Veteran Jawa Timur.
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Abstract
This study aims to analyze the effects of herding bias, investor sentiment, and anchoring bias on Generation Z investment decisions in Sidoarjo Regency, with financial literacy as a moderating variable. A quantitative approach was employed using purposive sampling involving 100 Generation Z stock investors who had actively invested within the last six months. Data were collected through an online questionnaire using a Likert scale and analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS). The findings reveal that herding bias does not significantly influence investment decisions. In contrast, investor sentiment and anchoring bias have positive and significant effects on investment decisions. Furthermore, financial literacy does not moderate the relationships between herding bias, investor sentiment, or anchoring bias on investment decisions. These results indicate that Generation Z investment decisions are more strongly influenced by investor sentiment, and reliance on initial reference information than by the tendency to follow other investors.
| Item Type: | Thesis (Undergraduate) | ||||||||
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| Subjects: | H Social Sciences > HG Finance H Social Sciences > HG Finance > HG4001-4285 Finance management. Business finance. Corporation finance |
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| Divisions: | Faculty of Economic and Business > Departement of Management | ||||||||
| Depositing User: | Rafli Raikhan Syah | ||||||||
| Date Deposited: | 02 Sep 2026 04:45 | ||||||||
| Last Modified: | 02 Sep 2026 04:45 | ||||||||
| URI: | https://repository.upnjatim.ac.id/id/eprint/59309 |
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