THE EFFECT OF ATTITUDE, SUBJECTIVE NORMS AND CONTROL OF BEHAVIOR TOWARDS INTENTION IN SHARE INVESTMENT
DOI:
https://doi.org/10.22219/jmb.v10i2.13616Keywords:
attitude, subjective norm, perceived behavior control, intention to invest in stocksAbstract
The development of the stock market has been dominated by individual. The decision-making process in investment actions is influenced by various individual characteristics and systematic factors are important elements that have an important influence on investors' financial decision making. Stock purchases can be influenced by attitudes, subjective norms and biases from past experiences. Stock investment is starting to be of interest to scholars. This study aims to determine and analyze the effect of attitudes, subjective norms and behavioral control on investment intentions in the capital market. The population that will be used as the research object is scholars in Malang, who have already been familiar with finance courses. The sampling method used was purposive sampling, namely determining the sample according to the research objectives. Data analysis is used to determine the effect of independent variables on the dependent variable, which is analyzed using path analysis with PLS. The result show that attitudes, subjective norms and behavioral control have an influence on the intention to invest in shares investment.
Downloads
References
Agnew, J. R. 2006. Do Behavioral Biases Vary across Individuals? Evidence from Individual Level 401(k) Data. The Journal of Financial and Quantitative Analysis, 41(4), 939–962. Retrieved from http://www.jstor.org/stable/27647280
Ajzen, I. 1991. The theory of planned behavior. Organizational Behavior and Human Decision Processes, 50(2), 179–211. https://doi.org/https://doi.org/10.1016/0749-5978(91)90020-T
Christanti, N., Ariany Mahastanti, L., and Ekonomika dan Bisnis Unversitas Kristen Satya Wacana, F. (2011). Faktor-Faktor Yang Dipertimbangkan Investor Dalam Melakukan Investasi. Jurnal Manajemen Teori Dan Terapan | Tahun, 4(3), 37–51.
Cucinelli, D., Gandolfi, G., and Soana, M.-G. 2016. Customer and advisor financial decisions: the theory of planned behavior perspective. International Journal of Business and Social Science, 7(12), 80–92.
Ferdinand, A. 2014. Metode Penelitian Manajemen. Semarang: Badan Penerbit Universitas Diponegoro.
Fishbein, M., and Ajzen, I. 1975. Beliefs, Attitudes, Intentions and Behaviors - Table of Contents.
Ghozali, I. 2014. Structural Equation Modeling, Metode Alternatif dengan. Partial Least Square (PLS). Semarang: Badan Penerbit Universitas Diponegoro.
Ghozali, I. 2015. Partial Least Squares: Konsep, Teknik dan Aplikasi Menggunakan Program SmartPLS 3.0 Untuk Penelitian Empiris H Imam Ghozali. In Partial Least Squares: Konsep, Teknik dan Aplikasi Menggunakan Program SmartPLS 3.0 Untuk Penelitian Empiris H Imam Ghozali. https://doi.org/9797043002
Ginting, A. M. 2018. Indonesian Treasury Review. Jurnal Perbendaharaan, Keuangan Negara Dan Kebijakan Publik, 3(4), 330–346.
Gopi, M., and Ramayah, T. 2007. Applicability of theory of planned behavior in predicting intention to trade online: Some evidence from a developing country. International Journal of Emerging Markets, 2(4), 348–360. https://doi.org/10.1108/17468800710824509
Hair, J. F. Jr. Black, W. C., Babin, B. J. Anderson, R. E. and Tatham, R. L. 2006. Multivariate Data Analysis 6th Edition. New Jersey: Pearson Education Inc.
Hati, S. W., and Harefa, W. S. 2019. Analisis Faktor-Faktor Yang Mempengaruhi Minat Berinvestasi Di Pasar Modal Bagi Generasi Milenial (Studi Pada Mahasiswi Jurusan Manajemen Bisnis Politeknik Negeri Batam). Journal of Business Administration, 3(2), 281–295.
Hidayat, L., Muktiadji, N., and Supriadi, Y. 2019. Pengaruh Pengetahuan Investasi Terhadap Minat Mahasiswa Berinvestasi Di Galeri Investasi Perguruan Tinggi. JAS-PT (Jurnal Analisis Sistem Pendidikan Tinggi Indonesia), 3(2), 63. https://doi.org/10.36339/jaspt.v3i2.215
Jogiyanto. 2007. Sistem Informasi Keperilakuan. Yogyakarta: Andi. Offset.
Johe, M. H., and Bhullar, N. 2016. To buy or not to buy: The roles of self-identity, attitudes, perceived behavioral control and norms in organic consumerism. Ecological Economics, 128, 99–105. https://doi.org/10.1016/j.ecolecon.2016.02.019
Junianto, D., Sabtohadi, J., Hendriani, D. 2020. Persepsi Mahasiswa Muslim terhadap Investasi Produk Syariah di Pasar Modal dalam Kajian Theory Planned Behaviour. Jurnal Shidqia Nusantara, 1(1), 51–60.
Lubis, A. I. 2010. Akuntansi Keprilakuan. Jakarta: Salemba Empat.
Munandar, A. S. 2014. Psikologi Industri dan Organisasi. Jakarta: Universitas Indonesia (UI-Press).
Paramita, R. S., Isbanah, Y., Kusumaningrum, T. M., Musdholifah, M., and Hartono, U. 2018. Young investor behavior: implementation theory of planned behavior. International Journal of Civil Engineering and Technology, 9(7), 733–746.
Paul, J., Modi, A., and Patel, J. 2016. Predicting green product consumption using theory of planned behavior and reasoned action. Journal of Retailing and Consumer Services, 29, 123–134. https://doi.org/10.1016/j.jretconser.2015.11.006
Permatasari, A., D. Y. and Abdurrahman. 2016. Faktor-Faktor Yang Mempengaruhi Niat Kewirausahaan. Jurnal Ekonomi Dan Manajemen, 13(1), 193–210.
Praharjo, A. 2020. The Effect of Service Quality on Satisfaction and Loyalty Visitors at Sengkaling Recreational Park. 10(01), 33–40.
Ramayah, T., Rouibah, K., Gopi, M., and Rangel, G. J. 2009. A decomposed theory of reasoned action to explain intention to use Internet stock trading among Malaysian investors. Computers in Human Behavior, 25(6), 1222–1230. https://doi.org/10.1016/j.chb.2009.06.007
Raut, R. K., Das, N., and Kumar, R. (2018). Extending the theory of planned behaviour: Impact of past behavioural biases on the investment decision of Indian investors. Asian Journal of Business and Accounting, 11(1), 265–292. https://doi.org/10.22452/ajba.vol11no1.9
Ruby, G. E., Ungku Zainal Abidin, U. F., Lihan, S., Jambari, N. N., and Radu, S. 2019. Predicting intention on safe food handling among adult consumers: A cross sectional study in Sibu district, Malaysia. Food Control, 106(June), 106696. https://doi.org/10.1016/j.foodcont.2019.06.022
Solimun, Adji A. R. Fernandes, N. 2017. Pemodelan Persamaan Struktural (SEM). Pendekatan WarpPLS. Malang: UB Press.
Sreen, N., Purbey, S., and Sadarangani, P. 2018. Impact of culture, behavior and gender on green purchase intention. Journal of Retailing and Consumer Services, 41(July 2017), 177–189. https://doi.org/10.1016/j.jretconser.2017.12.002
Sugiyono. 2014. Metode Penelitian Pendidikan Pendekatan Kuantitatif, Kualitatif, dan R&D. Bandung: Alfabeta.
Tan, M., and Teo, T. S. H. 2000. Factors Influencing the Adoption of Internet Banking. Journal of the Association for Information Systems, 1(1), 1–44. https://doi.org/10.1016/j.elerap.2008.11.006
Tuyon, J., and Ahmad, Z. 2016. Behavioural finance perspectives on Malaysian stock market efficiency. Borsa Istanbul Review, 16(1), 43–61. https://doi.org/10.1016/j.bir.2016.01.001
Widayat. 2004. Metode Penelitian Pemasaran. Malang: UMM Press.
Downloads
Published
Issue
Section
License
Copyright (c) 2020 Manajemen Bisnis
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-ShareAlike 4.0 International License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.