Skripsi

The moderating effect of robo-advisors usage on the influence of emotional and cognitive biases toward irrational investment decision-making / Ferdiana Ambarwati

Abstrak
Investment decision-making is ideally rational but it is often influenced by behavioral biases that trigger irrational decisions. Robo-advisors as AI-based financial technology are present to assist investors in making more objective decisions by minimizing such biases. This study analyzes the influence of emotional biases (loss aversion bias regret aversion bias status quo bias) and cognitive biases (overconfidence bias cognitive dissonance bias illusion of control bias) on irrational investment decisions as well as evaluates the moderating role of robo-advisor usage. This research applies a quantitative method. Primary data were collected from 203 active investors in East Java through an online questionnaire and processed using the Smart PLS application. The findings reveal that all behavioral biases significantly influence irrational investment decisions. In addition to their direct effects the use of robo-advisors also strengthens the relationship between five out of six behavioral biases and irrational investment decisions except for loss aversion bias which does not show a significant moderating effect. These findings indicate that the use of robo-advisors contributes to encouraging decisions that are more influenced by behavioral biases. Keywords Robo-advisors usage irrational investment decisions emotional bias cognitive bias

Informasi Detail

DDC

SKRIPSI DIGITAL

Prodi

Universitas Negeri Malang. Program Studi Akuntansi, 2025.

Deskripsi Fisik

viii, 91 hlm. : ilus.

Bahasa

No Reg

5497/RS/25

Edisi

Skripsi (Sarjana)--Universitas Negeri Malang. 2025

Subjek

1. BIAS EMOSIONAL DAN KOGNITIF - PENGAMBILAN KEPUTUSAN INVESTASI YANG TIDAK RASIONAL
2. EMOTIONAL AND COGNITIVE BIASES - IRRATIONAL INVESTMENT DECISION-MAKING

Pembimbing

1. Dr. Satia Nur Maharani, S.e. Msa.

Lampiran Berkas