Pengaruh Perilaku Bias terhadap Keputusan Investasi oleh Investor dengan moderasi Robo Advisor

This study aims to examine the effect of overconfidence bias and loss aversion bias on investment decisions of investors with robo advisors as a moderating variable. This study uses primary data taken from distributing questionnaires to capital market investors in Indonesia. The sample obtained is 73 respondents. The technique used in this study is Partial Least Square using the SmartPLS 3.0 program. The results of the study prove that overconfidence bias and robo advisors have a significant effect on investor’s investment decisions, but loss aversion bias has no significant effect on investment decisions, and robo advisors cannot moderate overconfidence and loss aversion bias behavior on investor’s investment decisions.