Determinants of Investment Decisions from Behavioural Aspects with Investment Intention as a Mediating Variable

Due to the recession issue, many people are cautious in managing their finances. So that it encourages people to want to improve their situation with investment activities. This research generally tests the TPB (Theory of Planned Behaviour) model. Specifically, the purpose of this study is to determine the determinants of investment decisions seen from the behavioural aspect, besides that it aims to analyse Investment intention as a mediating influence on investment decisions. Respondents in this study were 135 respondents obtained through an online survey. The sampling technique used purposive sampling method. Validity and reliability tests using smartPLS analysis on the outer model. The results of the analysis show that financial literacy affects investment decisions. Herding behaviour affects investment decisions. The big five personality traits in the openness dimension affect investment decisions. Investment intention in financial literacy, herding behaviour, and big five personality traits mediate investment decisions.