THE INFLUENCE OF INFORMATION ON TRADING BEHAVIOR WITH PERSONALITY TRAITS AS MODERATION VARIABLE FOR STOCK TRADERS
Keywords:
Investment, Trading, Stocks, Information, Trading Behavior, Trading Frequency, Personality Traits
Abstract
The development of investment in Indonesia has increased rapidly over the past few years. One of the key factors affecting stock traders' trading behavior is information. Information that was previously difficult to obtain by investors became easily obtained due to technological developments. In addition to information, the characteristics of traders also influence their trading behavior. The population used in this study is the entire citizen of Surabaya, and the sample of this study is stock traders who have a minimum of 1-year trading experience. Data analysis is done by using Partial Least Square with Smart PLS 3.0. The result of this study is that information has a significant effect on trading behavior, while neuroticism, extraversion, openness, agreeableness, and conscientiousness do not moderate the effect of information on trading behavior significantly.
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References
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Robbins, SP & Judge, TA (2012). Organizational Behavior (15th Ed.). NJ: Pearson Education, Inc.
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Tauni, MZ, Rao, Z., Fang, H., Mirza, SS, Memon, ZA & Jebran, K. (2017). Do Investor's Big Five Personality Traits Influence the Association Between Information Acquisition and Stock Trading Behavior? China Finance Review International, 7(4), 450-477.
Anggala, A. & Basana, S. R. (2020). Pengaruh Related Party Transaction Terhadap Nilai Perusahaan. International Journal of Financial and Investment Studies (IJFIS), 1(1), 42-52. https://doi.org/10.9744/ijfis.1.1.42-52
Brennan, T. (2010, August 20). The Difference Between Investing & Trading. Retrieved from https://www.cnbc.com/ en/38788780
Brookfield, S. (1987). Developing Critical Thinkers. Milton Keynes. England: Open University Press.
CH Chang. (2008). The Impact of Behavioral Pitfalls on Investors' Decisions: The Disposition Effect in The Taiwanese Warrant Market. Social Behavior and Personality, 617-634.
Cloninger, CR, Przybeck, TR & Svrakic, DM (1994). The Temperament and Character Inventory (TCI): A Guide To Its Development and Use. Center for Psychobiology of Personality. St Louis. MO: Washington University.
Fréchette, GR, Schotter, A. & Treviño, I. (2014). Personality, Information Acquisition and Choice Under Uncertainty: An Experimental Study. Economic Inquiry.
Heinström, J. (2003). Five Personality Dimensions and Their Influence on Information Behaviour. Information Research, 9(1), 1-9.
Ivković, Z. & Weisbenner, S. (2007). Information Diffusion Effects in Individual Investors' Common Stock Purchases: Covet Thy Neighbors' Investment Choices. Review of Financial Studies, 20(4), 1327-1357.
Kominfo. (2017). Pertumbuhan Ekonomi Indonesia Stabil 10 Tahun Terakhir. Retrieved from https://kominfo.go.id/ content/detail/11635/pertumbuhan-ekonomi-indonesia-stabil-10-tahun-terakhir/0/berita_satker
Mayfield, C., Perdue, G. & Wooten, K. (2008). Investment Management and Personality Type. Financial Services Review, 17(3), 219-236.
McCrae, RR & Costa, PT (2008). Empirical and Theoretical Status of The Five-Factor Model of Personality Traits. in Boyle, GJ, Matthews, G. & Saklofske, DH Handbook of Personality Theory and Assessment: Personality Measurement and Testing Vol. 1. Sage. London. 273-294.
Miller, EM (1977). Risk, Uncertainty, and Divergence of Opinion. The Journal of Finance, 32(4), 1151-1168.
Robbins, SP & Judge, TA (2012). Organizational Behavior (15th Ed.). NJ: Pearson Education, Inc.
Setiawan, SRD (2017, November 24). Jenis Investasi Ini Paling Diincar Investor Indonesia. Retrieved from https://ekonomi.kompas.com/read/2017/11/24/123000926/jenis-investasi-ini-paling-diincar-investor-indonesia
Subandi, J.R. & Basana, S.R. (2021). The effect of salience and disposition effect on stock investment decisions on investors in Surabaya. International Journal of Financial and Investment Studies (IJFIS), 1(2), 77-84. Retrieved from https://ojs.petra.ac.id/ijfis/index.php/ijfis/article/view/56
Sugiyono. (2003). Metode Penelitian Bisnis.Bandung. Pusat Bahasa Depdiknas.
Sugiyono. (2018). Metode Penelitian Kuantitatif, Kualitatif, Dan R&D. Bandung: Alfabeta.
Tauni, MZ, Rao, Z., Fang, H. & Gao, M. (2017). Does Investor Personality Moderate The Relationship Between Information Sources and Trading Behavior? Evidence from Chinese Stock Market. Managerial Finance, 43(5), 545-566.
Tauni, MZ, Rao, Z., Fang, H., Mirza, SS, Memon, ZA & Jebran, K. (2017). Do Investor's Big Five Personality Traits Influence the Association Between Information Acquisition and Stock Trading Behavior? China Finance Review International, 7(4), 450-477.
Published
2021-09-21
How to Cite
Susanto, R., & Malelak, M. I. (2021). THE INFLUENCE OF INFORMATION ON TRADING BEHAVIOR WITH PERSONALITY TRAITS AS MODERATION VARIABLE FOR STOCK TRADERS. International Journal of Financial and Investment Studies (IJFIS), 2(1), 34-41. https://doi.org/10.9744/ijfis.2.1.34-41
Section
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