Penelitian ini berfokus pada faktor-faktor yang memengaruhi keputusan investor individu dalam kepemilikan instrumen keuangan pasar modal. Peneliti menggunakan Theory of Planned Behaviour (TPB) dalam pengembangan hipotesis, hal ini dikarenakan keputusan investor individu kerap dipengaruhi oleh perbedaan karakteristik setiap individu. Metode Partial Least Square - Structural Equation Model (PLS-SEM) digunakan untuk menganalisis model dan hubungan antara variabel dengan software SmartPLS 3.0. Sampel terdiri dari 385 investor individu yang berusia diatas 18 tahun, berinvestasi pada instrumen keuangan dalam Pasar Modal Indonesia, dan berdomisili di Pulau Jawa. Hasil penelitian ini menunjukkan bahwa financial wellbeing, objective dan subjective financial literacy, perceived investment of significant others, dan attitude to investment behaviour memiliki pengaruh yang signifikan terhadap investment intention. Sedangkan investment intention, financial well-being, objective dan subjective financial literacy secara positif signifikan memengaruhi capital market investment. Studi ini membuktikan bahwa perilaku investor individu untuk berinvestasi dalam pasar modal dapat dijelaskan dengan variabel-variabel yang ada dalam penelitian.
This study focuses on factors that influence individual investors’ investment decision on their ownership of capital market instruments. Theory of Planned Behaviour (TPB) is used in this study to develop hypothesis due to the fact that individual investors’ investment decisions are influence by their behaviour. The proposed model uses Partial Least Square – Structural Equation Model (PLS-SEM) to examine relationship between dependent and independent variables with the help of SmartPLS 3.0 software. The results suggest that financial well-being, objective dan subjective financial literacy, perceived investment of significant others, and attitude to investment have a significant impact on individual investor’s investment intention. While, investment intention, financial well-being, objective and subjective financial literacy have a positive significant impact on capital market investment. This study proves that the behaviour of individual investors to invest in capital market can be explained by the variables in this study. |
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