Proceedings of the 9th International Conference on Accounting, Management, and Economics 2024 (ICAME 2024)

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The Influence of Overconfidence, Considering the Past, and Social Interaction on Investment Decisions

Authors
Rury Novita Sibulo1, *, Darwis Said1, Muhammad Irdam Ferdiansah1
1University Hasanuddin, Makassar, Indonesia
*Corresponding author. Email: sibulorn22a@student.unhas.ac.id
Corresponding Author
Rury Novita Sibulo
Available Online 30 July 2025.
DOI
10.2991/978-94-6463-758-8_245How to use a DOI?
Keywords
Overconfidence; Considering The Past; Social Interaction; Investment Decisions; Triangulation
Abstract

This study investigates the influence of overconfidence, considering the past, and social interaction on investment decisions among investors in Makassar. Using a triangulation strategy, data was obtained through questionnaires filled out by investors and detailed interviews to reinforce the analytical outcomes. Findings indicate that overconfidence significantly impacts investment decisions; investors exhibiting higher levels of confidence tend to make more substantial and riskier investments, aligning with previous research suggesting that overconfident investors believe they possess superior information. Additionally, consideration of past experiences proved to be an important factor in decision-making, as investors use their prior investment outcomes as references to assess current risks and opportunities. Social interaction was also found to have a positive effect, where investors engaged in social networks are more likely to make informed decisions. The triangulation approach employed in this study provides consistent evidence between quantitative data from questionnaires and qualitative insights from interviews, enhancing the understanding of investment decision-making dynamics in Makassar. This study provides a deeper understanding of the dynamics of investment decision-making and emphasizes the importance of a comprehensive approach in analyzing investor behavior.

Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 9th International Conference on Accounting, Management, and Economics 2024 (ICAME 2024)
Series
Advances in Economics, Business and Management Research
Publication Date
30 July 2025
ISBN
978-94-6463-758-8
ISSN
2352-5428
DOI
10.2991/978-94-6463-758-8_245How to use a DOI?
Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Rury Novita Sibulo
AU  - Darwis Said
AU  - Muhammad Irdam Ferdiansah
PY  - 2025
DA  - 2025/07/30
TI  - The Influence of Overconfidence, Considering the Past, and Social Interaction on Investment Decisions
BT  - Proceedings of the 9th International Conference on Accounting, Management, and Economics 2024 (ICAME 2024)
PB  - Atlantis Press
SP  - 2979
EP  - 2991
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-758-8_245
DO  - 10.2991/978-94-6463-758-8_245
ID  - Sibulo2025
ER  -