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Universal Journal of Accounting and Finance Vol. 10(1), pp. 254 - 266
DOI: 10.13189/ujaf.2022.100126
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Determinants of Investment Decision in Cryptocurrency: Evidence from Indonesian Investors

Bella Siti Nurbarani ^1,*, Gatot Soepriyanto ^2
1 Department of Accounting, BINUS Graduate Program – Master of Accounting, Bina Nusantara University, Jakarta, Indonesia
² Department of Accounting, Faculty of Economics & Communication, Bina Nusantara University, Jakarta, Indonesia

ABSTRACT

This study aimed to determine the effect of behavior factors and social demography on the investment decision in cryptocurrency in the Greater Jakarta area. The method used in this study is partial least square (PLS) using the SmartPLS software application. The behavior factor variables used in this study are overconfidence, herd behavior, subjective norm, and awareness variables. This study also used social demography moderating variables in age, gender, occupation, education, and investment experience on 400 respondents in the Greater Jakarta area. The test results show that only overconfidence and awareness variables have a significant positive effect on decisions to invest in cryptocurrency and subjective norms variables that have no significant positive effect but can be moderated by social demographic factors such as age and investment experience. In addition, other variables have no significant positive effect. They cannot be moderated by social demographic factors such as age, gender, occupation, and investment experience on the decisions of cryptocurrency investors in Greater Jakarta area. Our study contributes to developing knowledge, insight, skills and analyzing researchers, especially regarding the influence of behavioral factors and social demography on investment decisions in cryptocurrency.

KEYWORDS
Cryptocurrency, Behavior Factors, Social Demography

Cite This Paper in IEEE or APA Citation Styles
(a). IEEE Format:
[1] Bella Siti Nurbarani , Gatot Soepriyanto , "Determinants of Investment Decision in Cryptocurrency: Evidence from Indonesian Investors," Universal Journal of Accounting and Finance, Vol. 10, No. 1, pp. 254 - 266, 2022. DOI: 10.13189/ujaf.2022.100126.

(b). APA Format:
Bella Siti Nurbarani , Gatot Soepriyanto (2022). Determinants of Investment Decision in Cryptocurrency: Evidence from Indonesian Investors. Universal Journal of Accounting and Finance, 10(1), 254 - 266. DOI: 10.13189/ujaf.2022.100126.