Bias Overconfidence dalam Keputusan Investasi Digital: Peran Digital Financial Literacy, Paparan Finfluencer, dan Trust in AI Financial Advice pada Investor Muda Indonesia Indonesia
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Abstract
Tujuan – Penelitian ini bertujuan menganalisis pengaruh digital financial literacy, paparan finfluencer, dan trust in AI financial advice terhadap kualitas keputusan investasi digital melalui overconfidence bias sebagai variabel mediasi pada investor muda Indonesia.
Metodologi – Penelitian menggunakan pendekatan kuantitatif eksplanatori dengan desain cross sectional survey. Sampel terdiri atas 300 investor muda berusia 18–35 tahun yang dipilih melalui purposive sampling. Data dianalisis menggunakan Structural Equation Modeling Partial Least Squares (SEM-PLS) dengan SmartPLS 4.0.
Temuan – Hasil penelitian menunjukkan bahwa digital financial literacy berpengaruh negatif dan signifikan terhadap overconfidence bias (β = -0,312; p < 0,001). Sebaliknya, paparan finfluencer (β = 0,287; p < 0,001) dan trust in AI financial advice (β = 0,241; p < 0,001) berpengaruh positif dan signifikan terhadap overconfidence bias. Selanjutnya, overconfidence bias berpengaruh negatif dan signifikan terhadap kualitas keputusan investasi digital (β = -0,358; p < 0,001). Uji mediasi menunjukkan mediasi parsial pada jalur digital financial literacy dan paparan finfluencer, serta mediasi penuh pada jalur trust in AI financial advice.
Kebaruan – Penelitian ini menawarkan model integratif yang menjelaskan kualitas keputusan investasi digital melalui kombinasi literasi keuangan digital, pengaruh finfluencer, kepercayaan terhadap AI, dan bias kognitif.
Signifikansi – Temuan ini menegaskan pentingnya penguatan literasi keuangan digital, regulasi konten finfluencer, serta desain platform AI yang mendorong pemikiran kritis investor muda.
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References
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