Perceived Herding Behavior and Experienced Regret on Crypto Asset’s Investment Decisions by Millennials
DOI:
https://doi.org/10.26740/jaj.v15n2.p118-127Keywords:
Herding Behavior; Experienced Regret; Investment Decision; Crypto Assets; Urban SocietyAbstract
ntroduction/Main Objectives: This research aims to determine the effect of herding behaviour and
experienced regret on millennials' decisions to invest in crypto assets. In addition, this research
would explain the investment decisions of crypto assets in urban communities in the Surabaya and
Sidoarjo areas. Background Problems: The number of crypto asset enthusiasts had increased
significantly over the past few years. Commodity Futures Trading Supervisory Agency (Badan
Pengawas Perdagangan Berjangka Komoditi/BAPPEBTI) noted that crypto investors in Indonesia
had reached 17.25 million people in April 2023. Under these conditions, investors' behaviour can be
influenced by psychological and emotional factors such as herding behaviour and experienced
regret. Research Methods: The research method used a survey method with a sample of students
and employees domiciled in the urban areas of Surabaya and Sidoarjo. The analysis technique used
in this research was multiple linear regression analysis using SPSS version 26 software.
Finding/Results: The research results showed that herding behaviour and experienced regret had a
partially positive effected on millennials' investment decisions in crypto assets. Conclusion: The
novelty of this research was to explain the differences in crypto asset investment decisions between
students and employees
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