Examining belief-adjusment model and investors overconfidence on investment decision making

Almilia, Luciana Spica (2019) Examining belief-adjusment model and investors overconfidence on investment decision making. Jurnal Keuangan dan Perbankan (JKP)/Journal of Finance and Banking, 23 (4). pp. 595-610. ISSN 1410-8089

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Abstract

This research aims to examine whether there is a different judgment between the investor who receives good news followed by bad news and the one who receivesbad news followed by good news information order in the step-by-step and the end-of-sequence disclosure pattern by using financial information type and non-finan�cial information type and overconfidence characteristics on investment decision mak�ing. This research is included in the experimental design by using a mixed design of between-subjects and within-subject design and classified as experimental research which uses the 2x2x2 method. Participants used in this research are undergraduate business students in STIE Perbanas Surabaya who are studying and/or have com�pleted investment management and/or financial statement analysis courses who will serve as non-professional investors. The results obtained in this research showed that recency effect occurred between the investor who receives good news followed by bad news and the one who receives bad news followed by good news in the step�by-step disclosure pattern, while there is no order effect occurred when the disclo�sure pattern used is the end-of-the-sequence.

Item Type: Article
Subjects: 300 - SOCIAL SCIENCE > 330 - 339 ECONOMICS > 332 - FINANCIAL ECONOMICS > 332.6 - INVESTMENT
Divisions: Lecturer
Depositing User: LUCIANA SPICA ALMILIA
Date Deposited: 07 Oct 2021 02:19
Last Modified: 07 Oct 2021 02:19
URI: http://eprints.perbanas.ac.id/id/eprint/8270

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