Pengaruh Demografi terhadap Faktor Internal Investor Individu dan Keputusan Investasi Saham Serta Investment Performance (Studi Kasus Investor di Kota Medan)

Abstract

Investment performance is the rate of return on investment from the objective and subjective viewpoint of individual investors. This study aims to examine the influence of demography on financial literacy and individual investor behavior; investment decisions and investment performance. Structural Equation Modeling (SEM) analysis tool. The population is an investor in Medan city. The research sample is taken from stock investors who joined the securities located in Medan city and actively stock transactions online. The results showed gender, age, education, income, and duration of investment there were no significant influence toward financial literacy, but work activity had significant influence toward financial literacy. Gender, education, income, duration of investment and work activity there is no significant influence to investor behavior, but age has significantly influence to investor behavior. Gender, age, duration of investment, and work activity there is no significant influence to investment decision, but education and income have significant influence toward investment decision. Investor behavior is statistically proven as an intervening variable where there is a significant influence of age toward investment decision. There is no significant influence of financial literacy toward investor behavior and investment decisions, investor behavior significantly influence to investment decisions, as well as stock investment decisions have a significant influence toward investment performance. The implication that financial literacy and investor behavior are needed for good investment decision to achieve expected investment performance.

Kinerja investasi merupakan tingkat pengembalian investasi dari sudut pandang objektif dan subjektif dari investor individu. Penelitian ini bertujuan menguji pengaruh demografi terhadap financial literacy dan investor behavior; keputusan investasi saham dan investment performance. Alat analisis Structural Equation Modelling (SEM). Populasi adalah investor di kota Medan. Sampel penelitian diambil dari investor saham yang bergabung di sekuritas yang berada di kota Medan dan aktif melakukan transaksi saham secara online. Hasil penelitian menunjukkan gender, kelompok usia, tingkat pendidikan, tingkat pendapatan, dan lama investasi tidak terdapat pengaruh yang signifikan terhadap financial literacy, namun aktivitas kerja memiliki pengaruh secara signifikan terhadap financial literacy. Gender, tingkat pendidikan, tingkat pendapatan, lama investasi dan aktivitas kerja tidak terdapat pengaruh secara signifikan terhadap investor behavior, tetapi kelompok usia memiliki pengaruh secara signifikan terhadap investor behavior. Gender, kelompok usia, lama investasi, dan aktivitas kerja tidak terdapat pengaruh yang signifikan terhadap keputusan investasi saham, tetapi tingkat pendidikan dan tingkat pendapatan memiliki pengaruh secara signifikan terhadap keputusan investasi saham. Investor behavior secara statistik terbukti sebagai variabel intervening dimana terdapat pengaruh kelompok usia secara signifikan terhadap keputusan investasi saham. Tidak terdapat pengaruh secara signifikan financial literacy terhadap investor behavior dan keputusan investasi saham, investor behavior berpengaruh secara signifikan terhadap keputusan investasi saham, serta keputusan investasi saham berpengaruh yang signifikan terhadap investment performance. Implikasinya bahwa terhadap financial literacy dan investor behavior sangat diperlukan untuk keputusan investasi saham yang tepat sehingga mencapai investment performance yang diharapkan.