Pengaruh Overconfidence, Herding Behavior, dan Loss Aversion terhadap Keputusan Investasi Generasi Z di Kota Denpasar

This study aims to determine the influence of overconfidence, herding behavior, and loss aversion on investment decisions. The sample in this study is Generation Z with an age range of 18–28 years in Denpasar City who have made investments, with a total of 110 respondents. This study uses a quantitative approach with data collection techniques through questionnaires. The data analysis technique used is Partial Least Squares (PLS) version 4 to test the relationship between research variables. The results of the study show that overconfidence has a positive and significant effect on investment decisions, herding behavior also has a positive and significant effect on investment decisions, and loss aversion has a positive and significant effect on investment decisions. Based on the results of the study, researchers suggest that Generation Z in Denpasar City increase the intensity of evaluation and management of investment fund allocation, expand investment experience, improve investment literacy and knowledge, and conduct a more in-depth risk analysis so that investment decisions are more rational and optimal.