THE FINANCIAL BEHAVIOR OF INVESTORS USING DISCRIMINANT ANALYSIS APPROACH

Abstract: Behavioral finance is a recent line of research that is attracting the attention of the investor. Behavioral  finance  has  an  important  role  in  decision-making  process  of  investors.  The purpose  of  this  study  is  to  examine  whether  there  are  any  differences  in  the  decision  of investors in terms of demographic variables, such as marital status, gender, education level, and  then  it  will  be  examined  how  the  different  criterias  on  financial  behavioral  factors include:  herding,  heuristics,  and  behavioral  factors  are  associated  with  the  financial markets. This research is descriptive quantitative. The sample in this study consists of 120 stock  investors  in  Medan.  Data  were  collected  through  questionnaires,  interviews,  and documentation studies. This research applies statistical technique of discriminant analysis, using the three groups of variables: marital status, sex, and educational level. The results of this  study  showed  significant  differences  with  an  alpha  of  5%  on  financial  behavioral factors in the decision of investors in terms of marital status groups. Meanwhile, there was no difference in the decision of investors if in terms of other demographic variables, which consist of sex and level of education.

Keywords: Behavioral Finance, Investors Decision, Stock

Author: Juli Meliza, Isfenti Sadalia, Khaira Amalia Fachrudin

Journal Code: jpmanajemengg130089

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