Perilaku Keuangan Dan Toleransi Risiko Keuangan Rumah Tangga (Konsumsi Dan Investasi) Era Covid-19
Keywords:
Financial Behaviour, Financial Risk Tolerance, Household, COVID-19Abstract
Uncertainty is a certain thing that will happen someday in the future. As a matter of fact, this life is covered by uncertainty even in a small scale or a big one. It is something that we do not want to and surely it is not a predictable thing. The COVID-19 pandemic is a global issue that greatly affects various sectors of life and industry. Todays, in this pandemic, life is full of uncertainty. Households experience great turmoil in carrying out their lives, especially in terms of finances, both for consumption and investment activities. This paper is a literature study which aims to provide a more detailed picture of financial behavior and household financial risk tolerance for both consumption and investment activities during the COVID-19 pandemic. Good financial literacy affects financial behavior and individual financial risk tolerance. Results showed that when the COVID-19 pandemic emerged, the level of household consumption in the second quarter-2020 experienced a decline in almost all regions of Indonesia. Financial investations of households also declined in the second quarter-2020 and households’ investment preferences during this pandemic tend to change to risk averse or risk hater.
References
Arianti, B.F. 2020. Pengaruh Pendapatan dan Perilaku Keuangan terhadap Literasi Keuangan melalui Keputusan Berinvestasi sebagai Variabel Intervening. Jurnal Akuntansi. Volume 10, Nomor 1, Halaman 13-36. Bengkulu: Fakultas Ekonomi Bisnis Universitas Bengkulu.
Bayar, Y., Sezgin, H. F., Öztürk, Ö. F., & Şaşmaz, M. Ü. 2020. Financial Literacy and Financial Risk Tolerance of Individual Investors: Multinomial Logistic Regression Approach. SAGE Open. Halaman 1-11. Thousand Oaks: SAGE Publishing.
Choi, J. J., Laibson, D., & Madrian, B. C. 2010. Why does the law of one price fail? An experiment on index mutual funds. The Review of Financial, 23(4),
–1432.
Corbet, S., C. Larkin, and B. Lucey. 2020. The contagion efects of the COVID-19 pandemic: Evidence from gold and cryptocurrencies. Finance Research Letters 101554.
Corbet, S., Larkin, C., & Lucey, B. 2020. The contagion effects of the COVID-19 pandemic: Evidence from gold and cryptocurrencies. Finance Research Letters, 35, 101554.
Fauziyyah, N dan Ilham Ersyafdi. 2021. Dampak covid-19 pada pasar saham di berbagai negara. Forum Ekonomi: Jurnal Ekonomi, Manajemen, dan Akuntansi, Vol. 23, P. 56-66. Samarinda: Fakultas Ekonomi dan Bisnis universitas Mulawarman.
Grable J.E. dan Xiao J., Ed .2016. Financial Risk Tolerance. Handbook of
Consumer Finance Research. Halaman 19-31, Springer, Cham.
Halim, A. 2005. Analisis Investasi, Edisi Pertama, Jakarta: Penerbit Salemba Empat.
Hasibuan, Zainal A. 2007. Metodologi Penelitian Pada Bidang Ilmu Komputer Dan Teknologi Informasi:Konsep, Teknik, dan Aplikasi. Jakarta: Fakultas Ilmu Komputer Universitas Indonesia.
Heo, W., Grable, J.E. and Rabbani, A.G. 2020. "A test of the association between the initial surge in COVID-19 cases and subsequent changes in financial risk tolerance", Review of Behavioral Finance.
Keynes, John M. 1936. The General Theory of Employment Interest and Money.
Harcourt: Brace and World.
Knotek II, E. S., Schoenle, R., Dietrich, A., Kuester, K., Müller, G., Myrseth, K.
O. R., & Weber, M. 2020. Consumers and COVID-19: A real-time survey. Economic Commentary, (2020-08).
Litau, E. 2018. Entrepreneurship and economic growth: A look from the perspective of cognitive economics. In Proceedings of the 2018 9th International Conference on E-business, Management and Economics (pp.143-147).
Mark, M. K., & Ip, W. 2017. An Exploratory Study of Investment Behaviour of Investors. International Journal of Engineering Business Management. Volume 9, Halaman 1-12. Thousand Oaks: SAGE Publishing.
Muñoz, Melisa & Álvarez-Franco, Pilar & Restrepo, Diego. 2019. The Role of Cognitive Abilities on Financial Literacy: New Experimental Evidence. Journal of Behavioral and Experimental Economics, 84.
Nobre, L. H. N., & Grable, J. E. 2015. The Role of Risk Profiles and Risk Tolerance in Shaping Client Investment Decisions. Journal of Financial Service Professionals, 69(3).
Permanasari, F.M., Kuncara, H., dan Warokka, A. 2020. Pengaruh Literasi Keuangan dan Antesedennya terhadap Toleransi Risiko dengan Moderasi Faktor Demografi pada Pekerja Muda di Indonesia. Jurnal Riset Manajemen Sains Indonesia (JRMSI), Volume 11, Nomor 2, Halaman 338-363. Jakarta: Fakultas Ekonomi Universitas Negeri Jakarta.
Prihartono, R. D. & Asandimitra, A. 2018. Analysis Factors Influencing Financial Management Behavior. International Journal of Academic Research in Business & Social Science, Volume 8, Nomor 8, Halaman 308-326. Bahawalpur: Human Resource Management Academic Research Society.
Putra, I. P. et al. 2016. Pengaruh Tingkat Literasi Keuangan, Experienced Regret, dan Risk Tolerance pada Pemilihan Jenis Investasi. Journal of Business and Banking, Volume 5 Nomor 2, Halaman 272-282, Surabaya: PPPM STIE Perbanas Surabaya.
Rahmani, A. N. 2020. Dampak COVID-19 terhadap Harga Saham dan Kinerja Keuangan Perusahaan (Studi pada Emiten LQ45 yang listing di BEI). Kajian Akuntansi, Volumen 21, Nomor 2, Halaman 252-269. Bandung: Universitas Islam Bandung.
Scott R Baker & Robert A Farrokhnia & Steffen Meyer & Michaela Pagel & Constantine Yannelis & Jeffrey Pontiff. 2020. How Does Household Spending Respond to an Epidemic? Consumption during the 2020 COVID-
Pandemic. The Review of Asset Pricing, vol 10(4), pages 834-862. Sitinjak, E. L. M. 2020. Perilaku Investor Pasar Modal Masa Pandemi Covid-19.
Di Rumah Unika, Halaman 108-119. Semarang: Universitas Katolik
Soegijapranata.
Sugiyono. 2005. Memahami Penelitian Kualitatif. Bandung: CV. Alfabeta. Suryantari, E. P. dan Patni, N. L. P. S. S. 2020. Pengaruh Pengetahuan,
Pengalaman, Sikap dan Tingkat Pendidikan terhadap Perilaku Pengelolaan
Keuangan Keluarga Menghadapi Dampak Pandemi, Prosiding SINTESA
, Bali, 13 November 2020, Universitas Dhyana Pura. Halaman 391-
Vogenberg, F Randy & Cutts, Stephen. 2009. Economic Instability and Its Impact on Decision Making in Health Care. P & T : a peer-reviewed journal for formulary management. 34. 24-5.
Yue, Pengpeng & Korkmaz, Aslihan & Zhou, Haigang. 2020. Household Financial Decision Making Amidst the COVID-19 Pandemic. Emerging Markets Finance and Trade. 56. 2363-2377.
Anonim. 2020. 33 Provinsi Minus Hanya Satu Yang Tumbuh Positif [On line].
From: https://lokadata.id/artikel/33-provinsi-minus-hanya-satu-yang- tumbuh-positif [15 Februari 2021].
Subdirektorat Neraca Modal dan Luar Negeri Biro Pusat Statistik. 2020. Neraca
Arus Dana Indonesia Triwulanan 2017-2020. Jakarta: BPS.
Direktorat Pengawasan Transaksi Efek Otoritas Jasa Keuangan. 2020. Statistik
Pasar Modal Indonesia periode Desember 2019–Juni 2020. Jakarta: OJK.
