An Identification On The Role Of Behavioral Finance In Invesment (A Case Study At Pandawa Cooperative)

Febrini Khairunnisa Imron; Yenny Kornitasari; Wahid Hasyim

doi:10.21043/bisnis.v8i2.8129

An Identification On The Role Of Behavioral Finance In Invesment (A Case Study At Pandawa Cooperative)

Febrini Khairunnisa Imron, Yenny Kornitasari, Wahid Hasyim

Abstract

This study discusses the role of finance in investment decision making in the Pandawa Cooperative Case Study. Offering an irrational profit of 10% per month, the illegal investment case claimed 549 thousand victims with a total loss of Rp3.8 trillion. This research method uses a qualitative study with phenomenology to learn the truth about the role of finance in decision making which will be carried out through observations and discussions related to social phenomena related to financial roles in making investment decisions (case studies of the Pandawa Cooperative) directly in the Pandawa Cooperative case. After conducting the research process, it was concluded that the investment of the Pandawa Cooperative in investment decision making by three financial policies, namely overevidence, representative bias, and herding, which provided a role in making the Pandawa Cooperative investment decision.

Keywords

behavior finance, koperasi pandawa, investment decision

Full Text:

PDF

References

Amelia, Mei. (2017).Begini Modus Nuryanto dalam Penipuan Investasi PandawaGroup.Detik.com.Retrievedfrom https://news.detik.com/berita/d-3428257/begini-modus-nuryanto-dalam-penipuan-investasi-pandawa-group.

Bailey, Jeffrey J & Chris Kinerson, 2005. “Regret Avoidance and Risk Tolerance”. Association for Financial Counseling and Planning Education, pp. 23-28.

Chariri, A. Nurlina W, Wulandari R. W. (2018). Individual Characteristics, Financial Literacy and Ability in Detecting Invesment Scam. Jurnal Akuntansi dan Auditing . 15(1).91-114.

Isfeni dan Novi,(2016). Perilaku Keuangan: Teori dan Implementasi. Medan :Pustaka Bangsa press.

Jacobs, P., & Schain, L.(2011). The Never Ending Attraction of the PonziScheme. Journal of Comprehensive Research. 9.40-46.

Jones, Charles P Jones. (2004), “Investments: Analysis and Management”, Sixth edition, Willey.

Lewis, M. K. (2012). New Dogs, Old Tricks. Why Do Ponzi Schemes Succeed?. Accounting Forum, 36(4), 294-309.

Lokanan, M. E., 2014, The Demographic Profile of Victims of Investment Fraud Canadian Perspective, Journal of Financial Crime, Vol. 21, No. 2, 226–242.

Lusardi, A., & Mitchell, O. (2007). Financial Literacy and Retirement Preparedness: Evidence and Implications for Financial Education. Business Economics. 42(1).

Nofsinger, J., R. (2001). Investment Madness: How psychology affects your investing and what to do about it, Prentice Hall.

Nugraha, Sari. (2016). Cognitive Bias and Risk Preferences Analysis of PonziScheme Investors. Vol (15). In 1st Global Conference on Business, Management and Entreupreuneurship (GCBME-16). Advances in Economics, Business and Management Research.

OJK. 2019a. Siaran Pers OJK : Indeks Literasi Dan Inklusi Keuangan Meningkat. Available at: https://www.ojk.go.id/id/berita-dankegiatan/siaran- pers/Pages/SiaranPers-OJK-Indeks-Literasi-danInklusi-Keuangan-Meningkat.aspx (Accessed: 23 Desember 2019).

OJK. 2019a. Laporan Satgas Waspada Investasi 2018 (Accessed: 23 November 2019).

Pompian, M. M.(2006). Behavioral Finance and Wealth Management: How to Build Investment Strategies That Account for Investor Biases. Wiley Finance.

Putra, Wardy. (2018). Investasi Dalam Ekonomi Islam. Jurnal Ulumul Syar'i. 7(2).

Wilkins, Acuff,& Hermanson. (2012). Understanding a Ponzi Scheme: Victims’ Perspectives. Journal of Forensic & Investigative Accounting, 4(1).

Ricciardi V. And Simon, H, K. (2000). What is Behavior in Finance? Business, Education,and Technology Journal,2. (1– 9).

Tilson, Whitney. (2013). Applying Behvioral Finance to Value Investing. Artikel T2. Partner LLC. http: zllwww.T2 PartenrsLLC.com. Diakses tanggal 21 Januari 2020

Pardiansyah, Elif. (2017). Investasi dalam Perspektif Ekonomi Islam: Pendekatan Teoritis dan Empiris. Economica: Jurnal Ekonomi Islam.8(2).

Umairoh, Pradiptaning. 2013. Cognitive Bias dan Emotional Bias Dalam Pengambilan Keputusan Investasi Portofolio. Jurnal online Universitas Kristen Satya Wacana

Rokhman, W. (2013). The Effect of Islamic Microfinance on Poverty Alleviation: Study In Indonesia. Economic Review: Journal of Economics and BusinessVol 11(2). 21-30.

Rokhman, W. (2016). Islamic Management Practices in Islamic Microfinance: an Empirical Study. Yogyakarta: Idea Press.

Sharpe, William F., Gordon J. Alexander, & Jeﬀ ery V. Bailey, (2005). Investasi Edisi Keenam, Jilid I, Edisi Bahasa Indonesia, PT. Indeks Kelompok Gramedia, Jakarta.

DOI: http://dx.doi.org/10.21043/bisnis.v8i2.8129