Proceedings of the 19th International Symposium on Management (INSYMA 2022)

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The Effect of Financial Literacy, Risk Perception, Overconfidence, and Investment Experience on Cryptocurrency Investment Decision

Authors
Dian Mahardi Lestari1, *, Isfenti Sadalia1, Amlys Syahputra Silalahi1
1Universitas Sumatera Utara, Medan, Indonesia
*Corresponding author. Email: dianmahardilestari@yahoo.com
Corresponding Author
Dian Mahardi Lestari
Available Online 5 December 2022.
DOI
10.2991/978-94-6463-008-4_21How to use a DOI?
Keywords
financial literacy; risk perception; overconfidence; investment experience; investment decision
Abstract

An investment decision is a discretion adopted by investors in selecting or determining the placement of their investment funds. Investments are always fraught with uncertainty, as the investment occurs in the present while the benefits come in the future. Investment is essentially the deployment of capital now to gain profit in the future. This study aims to examine the effect of financial literacy, risk perception, and overconfidence on cryptocurrency investment decisions while taking investment experience as a moderating variable. The data used were primary data collected directly from 200 respondents. The sampling technique used was non-probability sampling with a purposive sampling technique. Respondents who completed questionnaires were examined quantitatively, and subsequently; SPSS was employed as an analytical tool. The results indicate that financial literacy and risk perception have a significant effect on cryptocurrency investment decisions. On the other hand, overconfidence has no significant effect on cryptocurrency investment decisions. In addition, investment experience has a positive and significant effect on investment decisions. Investment experience has a significant moderating effect between financial literacy and risk perception toward cryptocurrency investment decisions. However, investment experience has no significant effect as a moderating variable between overconfidence and cryptocurrency investment decisions.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 19th International Symposium on Management (INSYMA 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
5 December 2022
ISBN
10.2991/978-94-6463-008-4_21
ISSN
2352-5428
DOI
10.2991/978-94-6463-008-4_21How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Dian Mahardi Lestari
AU  - Isfenti Sadalia
AU  - Amlys Syahputra Silalahi
PY  - 2022
DA  - 2022/12/05
TI  - The Effect of Financial Literacy, Risk Perception, Overconfidence, and Investment Experience on Cryptocurrency Investment Decision
BT  - Proceedings of the 19th International Symposium on Management (INSYMA 2022)
PB  - Atlantis Press
SP  - 158
EP  - 164
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-008-4_21
DO  - 10.2991/978-94-6463-008-4_21
ID  - Lestari2022
ER  -