Abstract :

The level of investment among university students, as indicated by the increasing number of Single Investor Identification (SID), continues to grow, but students exhibit irrational behaviour in their investment decision. This study aims to analyse the factors that influence students’ investment decisions. This research uses a descriptive method with a quantitative approach. The population in this study comprises students from 13 Capital Market Study Groups in Special Region of Yogyakarta. The sampling technique used is purposive. The total number of respondents collected was 137. The data collection method used was a questionnaire. The data analysis technique employed was descriptive statistical analysis and multiple linear regression analysis with the aid of SPSS software version 27. The results of this study indicate that risk tolerance, availability bias, and excessive optimism have a significantly positive effect on investment decisions, advocate recommendation has a significantly negative effect on investment decisions, while regret aversion does not have a significant effect on investment decisions. This study will help students to avoid the biases while making an investment decision and prevent them from making incorrect investment choices.

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Keywords :

advocate recommendation, Availability bias, excessive optimism, Investment Decision, regret aversion., Risk Tolerance.

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