PREFERENSI INVESTOR DI INDONESIA TERHADAP INSTRUMEN INVESTASI BERDASARKAN FAKTOR DEMOGRAFIK & PROFIL RISIKO
Jonathan Christiano Hutasoit, Prof. Marwan Asri, Ph.D.
2012 | Tesis | S2 Magister ManajemenDalam ilmu wealth management, client profiling (pemahaman akan profil klien) merupakan suatu proses yang sangat penting dan dapat menentukan keberhasilan seorang wealth manager. Client profiling sangat berkaitan dengan prilaku seseorang, maka dari itu untuk lebih mengerti mengenai client profiling, seorang wealth manager harus mengerti mengenai ilmu prilaku finansial calon investor atau clientnya. Behavioral finance, merupakan bidang ilmu yang mempelajari prilaku finansial manusia. Dalam behavioral finance ditemukan bahwa faktor demografik seperti jenis kelamin, umur, latar belakang pendidikan, pekerjaan, serta profil resiko para investor sangat berhubungan dengan keputusan investasinya; lebih jauh lagi, terhadap preferensi pemilihan instrumen investasinya karena menurut agency theory, keputusan investasi seseorang dipengaruhi oleh 2 faktor utama yaitu uang dan manusia. Prilaku manusia kemungkinan berbeda antara investor di negara Indonesia dan di negara lain. Hal ini disebabkan oleh faktor demografik, genetik, kebiasaankebiasaan serta profil resiko tiap investor berbeda antar negara. Maka dari itu penelitian ini dilakukan untuk dapat menganalisis adanya perbedaan preferensi pengambilan keputusan orang Indonesia terhadap instrumen investasi berdasarkan faktor demografik dan profil resiko serta mengetahui preferensi pemilihan instrumen investasi orang Indonesia berdasarkan faktor demografik dan profil resiko terhadap 7 instrumen investasi yang sudah cukup dikenal di Indonesia yaitu deposito, obligasi, obligasi pemerintah, saham, reksadana, property dan emas. Penelitian dengan menggunakan kuesioner profil resiko dan preferensi instrumen investasi yang telah diterjemahkan dari ABN-AMRO Morgans Risk Profile Questionnaire serta menggunakan analisis statistik deskriptif, Mann- Whitney U Test dan Kruskal-Wallis Statistics Test menghasilkan kesimpulan bahwa ada perbedaan preferensi terhadap instrumen investasi orang Indonesia berdasarkan faktor demografik seperti jenis kelamin, umur, pendidikan, pekerjaan dan profil resiko. Penelitian ini juga menghasilkan tabel preferensi orang Indonesia terhadap instrumen investasi berdasarkan tiap-tiap faktor demografik dan profil resiko. Berdasarkan tabel preferensi investor terhadap instrumen investasi tersebut, maka diharapkan para wealth manager secara dini dapat mengetahui preferensi calon investor atau client terhadap instrumen investasi sehingga proses advis yang akan diberikan dapat lebih efektif dan efisien.
In the science of wealth management, client profiling (understanding of the client profile) is a process, which is very important and can determine the success of a wealth manager. Client profiling is related to the attitude of a person, and therefore to better understand the client profiling, a wealth manager must understand the science of behavioral finance of client or potential investors. Behavioral finance is the science, which studies human financial behavior. In behavioral finance found that demographic factors such as gender, age, educational background, occupation, and risk profile of investors is associated with their investment decisions; even further, to the preference for the selection of investment instruments according to agency theory, someone’s investment decisions are influenced by two the main factors being money and people. Possibility of human behavior differs between investors in the country of Indonesia and in other states. This is caused by demographic factors, genetics, habits and risk profile of each investor differ between countries. Thus, the study was conducted to analyze the difference of the preferences among Indonesian people to the investing instruments based on demographic factors and the risk profiles, also know the preferences of the selection of Indonesia based on demographic factors and risk profiles to the seven investment instruments that have been well known in Indonesia namely deposits, bonds, government bonds, stocks, mutual funds, property and gold. Research used risk profiles and preferences questionnaires to the investment instruments that have been translated from ABN-AMRO Morgans Risk Profile Questionnaire as well as using descriptive statistical analysis, Mann- Whitney U test and Kruskal-Wallis Test Statistics lead to the conclusion that there are significant differences among Indonesian people’s preferences to the investing instruments based on demographic factors such as gender, age, study, job, and risk profile. This study also produced a table based on the preferences of Indonesia each of these demographic factors and risk profiles. Based on the preference of investors to the table such investment instruments, it is expected that the wealth manager can use these results to identify the preference of potential investors or clients to the investing instruments in advance, thus, the advice given can be more effective and efficient.
Kata Kunci : wealth management, client profiling, behavioral finance, keputusan investasi, prilaku finansial, agency theory, preferensi, demografik
