PENGARUH HEURISTIC, MARKET, INCOME, DAN

AWARENESS TERHADAP KEPUTUSAN INVESTASI PADA

SURAT BERHARGA NEGARA

RAHADIAN RAHMAN PURNAMA

8235159379

Teugas ini Disusun sebagai Salah Satu Persyaratan pada

Mata Kuliah Metode Kuantitatif

PROGRAM STUDI MAGISTER MANAJEMEN

FAKULTAS EKONOMI
UNIVERSITAS NEGERI JAKARTA
2017
1.1

Pendahuluan

Investasi adalah

suatu

istilah

dengan

beberapa

pengertian

yang

berhubungan dengan keuangan dan ekonomi. Istilah tersebut berkaitan dengan

akumulasi suatu bentuk aktiva dengan suatu harapan mendapatkan keuntungan
pada masa depan. Terkadang, investasi disebut juga sebagai penanaman modal.
Investasi merupakan salah satu instrument yang dipilih oleh masyarakat
dalam merencanakan masa depan keuangannya. Dalam beberapa dekade terakhir
investasi bahkan telah menjadi gaya hidup. Jenis jenis investasi pun mulai
banyak ragamnya, mulai dari property, perhiasan, surat berharga, saham dan lain
lain.
Pada penelitian kali ini kami mencoba mengambil judul Pengaruh
Heuristic, Market, Income, dan Awareness terhadap keputusan investasi pada
SBN, dimana SBN sendiri merupakan kepanjangan dari surat berharga negara
yang instrumennya dapat berupa Surat Utang Negara (SUN) ataupun Surat
Berharga Syariah Negara (SBSN).
Pada halam berikutnya akan kami tampilkan hasil output SPSS 23
mengenai penelitian tersebut hasil dari questioner yang kami sebar kepada 200
responden pelaku investasi SBN.

1.2 Frequencies
1.2.1 Usia
UTS METODE KUANTITATIF | Rahadian Rahman Purnama MM
Executive X

Frequencies
Statistics
umur
N
Valid
Missing

200
0

Frequency Table
umur
Cumulative
Valid

20-25
26-30
31-40
41-50
>50
Total

Frequency
35
42
72
27
24

Percent
17.5
21.0
36.0
13.5
12.0

Valid Percent
17.5
21.0
36.0
13.5
12.0

200

100.0

100.0

Bar Chart

1.2.2 Kelamin
Frequencies
Statistics
kelamin
N
Valid
Missing

200
0

Percent
17.5
38.5
74.5
88.0
100.0

Frequency Table
kelamin
Cumulative
Valid

laki laki
perempuan
Total

Bar Chart

1.2.3 Pendidikan
Frequencies
Statistics
pendidikan
N
Valid
Missing

200
0

Frequency Table
pendidikan

Frequency
115
85

Percent
57.5
42.5

Valid Percent
57.5
42.5

200

100.0

100.0

Percent
57.5
100.0

Cumulative
Valid

SMU
D3
S1
S2
Total

Frequency
6
26
110
58

Percent
3.0
13.0
55.0
29.0

Valid Percent
3.0
13.0
55.0
29.0

200

100.0

100.0

Percent
3.0
16.0
71.0
100.0

Bar Chart

1.2.4 Tempat Tinggal

Frequencies
Statistics
pendidikan
N
Valid
Missing

200
0

Frequency Table
tempat_tinggal
Cumulative
Valid

jakarta
bogor

Frequency
121
14

Percent
60.5
7.0

Valid Percent
60.5
7.0

Percent
60.5
67.5

depok
bandung
tanggerang
bekasi
lainnya
Total

8
3
21
16
17

4.0
1.5
10.5
8.0
8.5

4.0
1.5
10.5
8.0
8.5

200

100.0

100.0

71.5
73.0
83.5
91.5
100.0

Bar Chart

1.3 Cross Tabs

1.3.1 Usia dan Jenis Kelamin
Crosstabs
Case Processing Summary
Cases
Valid
N
umur * kelamin
200

umur * kelamin Crosstabulation

Count
kelamin
laki laki
umur
20-25
13
26-30
15
31-40
46
41-50
23
>50
18
Total
115

Percent
100.0%

perempuan
22
27
26
4
6
85

Missing
N
0

Total
35
42
72
27
24
200

Percent
0.0%

Total
N
200

Percent
100.0%

1.3.2 Tempat Tinggal dan Pendidikan

Crosstabs
Case Processing Summary
Cases
Valid
N
200

Percent
100.0%

Missing
N
0

Percent
0.0%

tempat_tinggal * pendidikan Crosstabulation

Count
pendidikan
SMU
D3
tempat_tinggal
jakarta
4
18
bogor
0
2
depok
2
2
bandung
0
0
tanggerang
0
0
bekasi
0
0
lainnya
0
4
Total
6
26

S1
70
0
4
3
8
12
13
110

S2
29
12
0
0
13
4
0
58

tempat_tinggal * pendidikan

Total
N
200

Total
121
14
8
3
21
16
17
200

Percent
100.0%

1.3.3 Usia dan Tempat Tinggal

Crosstabs
Case Processing Summary
Cases
Valid
N
umur * tempat_tinggal
200

Percent
100.0%

umur * tempat_tinggal Crosstabulation

Count
tempat_tinggal
jakarta bogor depok
umur 20-25 28
0
4
26-30 25
2
0
31-40 40
2
2
41-50 14
0
2
>50
14
10
0
Total
121
14
8

Missing
N
0

Percent
0.0%

Total
N
200

Percent
100.0%

Total
bandung
0
0
3
0
0
3

tanggerang
0
4
10
7
0
21

bekasi
3
7
2
4
0
16

lainnya
0
4
13
0
0
17

35
42
72
27
24
200

1.3.4 Kelamin dan Pendidikan

Crosstabs
Case Processing Summary
Cases
Valid
N
kelamin * pendidikan
200

Percent
100.0%

kelamin * pendidikan Crosstabulation

Count
pendidikan
SMU
D3
kelamin
laki laki
2
24
perempuan
4
2
Total
6
26

Missing
N
0

Percent
0.0%

S1
47
63
110

S2
42
16
58

Total
N
200

Total
115
85
200

Percent
100.0%

1.3.5 Umur dan Pendidikan

Crosstabs
Case Processing Summary
Cases
Valid
N
umur * pendidikan
200

Missing
N
0

Percent
100.0%

umur * pendidikan Crosstabulation

Count
pendidikan
SMU
D3
umur
20-25
6
8
26-30
0
2
31-40
0
16
41-50
0
0
>50
0
0
Total
6
26

Total
N
200

Percent
0.0%

Total
S1
15
40
30
11
14
110

S2
6
0
26
16
10
58

35
42
72
27
24
200

Percent
100.0%

1.3.6 Umur dan Pendidikan

Crosstabs
Case Processing Summary

kelamin * tempat_tinggal

Cases
Valid
N
200

Percent
100.0%

kelamin * tempat_tinggal Crosstabulation

Count
tempat_tinggal
jakarta bogor depok
kelamin laki laki
62
14
4
perempuan 59
0
4
Total
121
14
8

Missing
N
0

bandung
3
0
3

Percent
0.0%

tanggerang
19
2
21

bekasi
9
7
16

Total
N
200

Total
lainnya
4
115
13
85
17
200

Percent
100.0%

1.4 Factor Analysis All Variable

1.4.1 All Variable Output

Communalities

HEU1
HEU2
HEU3
MAR1
MAR2
MAR3
INC1
INC2

Initial

Extraction

1.000

.770

1.000

.772

1.000

.873

1.000

.703

1.000

.703

1.000

.743

1.000

.648

1.000

.795

INC3
INC4
AWA1
AWA2
AWA3
AWA4
AWA5
INV1
INV2
INV3
INV4

1.000

.737

1.000

.838

1.000

.752

1.000

.858

1.000

.893

1.000

.922

1.000

.800

1.000

.726

1.000

.619

1.000

.449

1.000

.714

Extraction Method: Principal Component Analysis.

Total Variance Explained

Extraction Sums of Squared Rotation
Initial Eigenvalues
Loadings
%
of Cumulative
%
Component Total Variance %
1
3.529 18.572
18.572
2
3
4
5
6
7
8
9

Total

Sums

of
a

Squared Loadings
of Cumulative

Variance %

Total

3.529 18.572

18.572

2.758

2.289 12.049

30.621

2.289 12.049

30.621

2.181

2.173 11.439

42.060

2.173 11.439

42.060

2.231

1.930 10.156

52.217

1.930 10.156

52.217

2.632

1.733 9.123

61.339

1.733 9.123

61.339

1.892

1.471 7.740

69.079

1.471 7.740

69.079

1.817

1.191 6.271

75.350

1.191 6.271

75.350

1.387

.930

4.895

80.245

.711

3.744

83.989

10
11
12
13
14
15
16
17
18
19

.592

3.115

87.104

.461

2.424

89.528

.447

2.352

91.880

.389

2.049

93.929

.297

1.565

95.494

.243

1.281

96.775

.225

1.184

97.958

.159

.837

98.796

.141

.741

99.537

.088

.463

100.000

Extraction Method: Principal Component Analysis.

a. When components are correlated, sums of squared loadings cannot be added to obtain a total
variance.

Component Matrixa

Component
1
2
INC4
MAR1
INV2
INC1
MAR2
HEU2
MAR3
AWA3
AWA4

-.408

.435

.712
.684
.578
.550

.472

.531

-.443

.521
.494

-.445
.811
.779

AWA2
AWA1

.813
.515

.554

AWA5
INV1

-.574
.494

.548

INC2
INC3

.403

.656
.493

.445

.599

INV3

-.502

HEU1

.498

.669

HEU3

.463

INV4

-.418

-.749
.457

Extraction Method: Principal Component Analysis.

a. 7 components extracted.

Pattern Matrixa
Component
1
2
MAR2
MAR3
MAR1
INC4
AWA4
AWA3
AWA2
AWA1
INV4
INV1

.823
.769
.705
.657
.950
.915
.859
.765
.707
.829

INV2

.729

INC1

.641

INV3

.580

INC2

.875

INC3

.728

AWA5

.741

HEU1

.649

HEU2

.626

HEU3

-.922

Extraction Method: Principal Component Analysis.

Rotation Method: Oblimin with Kaiser Normalization.
a. Rotation converged in 25 iterations.

Structure Matrix
Component
1
2
MAR2
.807
MAR3

.745

MAR1

.737

INC4

.725

AWA4

.943

AWA3

.918

AWA2

.856

AWA1

.787

INV4

.684

INV1

.810

INV2

.746

INC1

.656

INV3

.571

.441

INC2

.865

INC3

.747

AWA5

.751

HEU2

.679

HEU1

.618

HEU3
Extraction Method: Principal Component Analysis.
Rotation Method: Oblimin with Kaiser Normalization.

-.421
-.900

Component Correlation Matrix

Component
1
2
3
1
1.000
-.015
.089
2
-.015
1.000
-.009
3
.089
-.009
1.000
4
.171
.010
.019
5
.061
.063
.045
6
.080
.053
-.025
7
.000
-.071
-.117
Extraction Method: Principal Component Analysis.
Rotation Method: Oblimin with Kaiser Normalization.

4
.171
.010
.019
1.000
.045
.081
-.004

5
.061
.063
.045
.045
1.000
-.026
.002

6
.080
.053
-.025
.081
-.026
1.000
-.058

7
.000
-.071
-.117
-.004
.002
-.058
1.000

1.4.2

All Variable After Dropping

Communalities

Initial
HEU1
1.000
HEU2
1.000
MAR1
1.000
MAR2
1.000
MAR3
1.000
INC2
1.000
INC3
1.000
AWA1
1.000
AWA2
1.000
AWA3
1.000
AWA4
1.000
INV1
1.000
INV2
1.000
INV3
1.000
Extraction Method: Principal Component Analysis.

Component
1
2
3
4
5
6
7

Total
2.722
2.182
1.883
1.576
1.326
1.167
.814

Extraction

Total Variance Explained

Extraction Sums of Squared
Initial Eigenvalues
Loadings
% of
Cumulative
% of
Cumulative
Variance
%
Total Variance
%
19.444
19.444 2.722
19.444
19.444
15.587
35.031 2.182
15.587
35.031
13.451
48.482 1.883
13.451
48.482
11.256
59.738 1.576
11.256
59.738
9.474
69.212 1.326
9.474
69.212
8.338
77.549 1.167
8.338
77.549
5.812
83.361

.594

4.242

87.603

.454

3.246

90.849

10

.391

2.791

93.641

11

.337

2.407

96.047

12

.275

1.964

98.012

13

.162

1.160

99.171

14

.116

.829

100.000

Extraction Method: Principal Component Analysis.

.839
.780
.738
.733
.758
.820
.826
.840
.849
.889
.906
.727
.627
.525

Rotation Sums of
Squared Loadingsa
Total
2.215
2.041
2.151
1.576
1.764
1.481

a.

When components are correlated, sums of squared loadings cannot be added to obtain a total
variance.

MAR1

.689

AWA1

.675

MAR2

.503

Component Matrixa
Component
3
4

6
-.504
.488

-.429

AWA3

.832

AWA4

.832

-.446

INV1

.674

MAR3

.528

-.619

INV2

.520

.526

INV3

.464

INC2

.808

INC3

.777

AWA2

.422

-.415

HEU1

.547

.558

HEU2

.623

.563

.588

Extraction Method: Principal Component Analysis.

a. 6 components extracted.

Pattern Matrixa
Component
1

MAR2

.833

MAR3

.774

MAR1

.717

AWA4

.920

AWA3

.910

INV1

.832

INV2

.769

INV3

.565

INC2

.866

INC3

.782

AWA2

.901

AWA1

.802

HEU1

.830

HEU2

.736

Extraction Method: Principal Component Analysis.

Rotation Method: Oblimin with Kaiser Normalization.
a. Rotation converged in 8 iterations.

Structure Matrix
Component
1

MAR2

.829

MAR3

.778

MAR1

.734

AWA3

.922

AWA4

.921

INV1

.792

INV2

.781

INV3

.584

INC2

.852

INC3

.780

AWA2

.892

AWA1

.835

HEU1

.812

HEU2

.773

Extraction Method: Principal Component Analysis.

Rotation Method: Oblimin with Kaiser Normalization.

1.5

Reliability All Variable

Case Processing Summary

N
%
Valid
200
100.0
Excludeda
0
.0
Total
200
100.0
a. Listwise deletion based on all variables in the
Cases

procedure.
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's

Standardized

Alpha
.631

Items
.639

N of Items
14

Item-Total Statistics
Squared

HEU1
HEU2
MAR1
MAR2
MAR3
INC2
AWA2
AWA3
AWA4
INV1
INV2
INV3
INC3
AWA1

Cronbach's

Scale Mean if Scale Variance if Corrected Item- Multiple

Alpha

Item Deleted
46.5450
46.4150
46.0050
46.7300
46.6350
46.5650
47.3050
47.0650
46.8550
45.9250
45.9400
45.6250
45.9000
46.6200

Deleted
.637
.595
.590
.621
.606
.645
.599
.606
.611
.624
.621
.636
.617
.579

Item Deleted
27.586
25.460
25.201
26.168
24.957
26.267
24.223
24.845
24.949
27.447
27.635
28.829
27.317
23.915

Total Correlation
.110
.388
.429
.222
.304
.125
.341
.306
.278
.188
.218
.061
.253
.450

Correlation
.426
.464
.515
.469
.579
.473
.588
.770
.764
.411
.433
.400
.489
.633

if

Item

Item Statistics
Description
Mean

Std.
Deviation

HEU1 Tingkat pengembalian akhir investasi SBN anda telah sesuai

3.4650 .88470
harapan
HEU2 Anda merasa puas dengan keputusan investasi Anda tahun
lalu (termasuk jual, beli,memilih SBN, dan memutuskan
3.5950 .82728
volume SBN)
MAR1 Anda mempertimbangkan dengan hati-hati harga dan kupon
4.0050 .81751
SBN yang akan Anda beli
MAR2 Anda sangat bereaksi terhadap perubahan harga SBN di
3.2800 .98817
pasar sekunder
MAR3 Anda menganalisis preferensi investor lain sebelum anda
berinvestasi di SBN
3.3750 1.07711
(untuk memastikan SBN yang dibeli likuid dipasar sekunder)
INC2
INC3

Tingkat penghasilan terlalu kecil membuat seseorang

beralasan untuk tidak menyisihkan sebagian pendapatannya 3.4450 1.23881
untuk proporsi investasi
Anda mempertimbangkan pengalaman investasi masa lalu saat
4.1100 .63238
mengambil keputusan investasi

AWA1 Dalam membuat keputusan investasi pada SBN anda

mendapatkan saran dari rekan-rekan
AWA2 Sebelum membuat keputusan investasi pada SBN anda
mendapatkan saran dari kerabat
AWA3 Anda ingin berinvestasi pada SBN dengan tenor lebih dari 5
tahun
AWA4 Anda lebih memilih investasi jangka panjang daripada
investasi jangka pendek
INV1
INV2
INV3

Std. Deviation
5.42096

N of Items
14

1.6 Factor Analysis Each Variable

1.6.1 Heuristic Factor Analysis
Communalities
Initial

Extraction

200
200
200
200

200
200

3.3900 1.01144

200

2.7050 1.14654

200

2.9450 1.09452

200

3.1550 1.13464

Tingkat pendapatan memiliki efek terhadap keseluruhan

4.0850 .72137
keputusan investasi
Tingkat pendidikan mempengaruhi pengambilan keputusan
4.0700 .60575
investasi ke tingkat yang moderat
Sumber informasi yang digunakan ketika membuat
pengambilan
keputusan
investasi
mempengaruhi 4.3850 .48782
pengambilan keputusan investasi

Scale Statistics
Mean
Variance
50.0100
29.387

200

200
200
200
200

HEU1
1.000
.464
HEU2
1.000
.657
HEU3
1.000
.455
Extraction
Method:
Principal
Component Analysis.
Total Variance Explained
Initial Eigenvalues
%
Component Total
1
1.577
2
.836
3
.588

Extraction Sums of Squared Loadings

%
of

of

Variance
52.550
27.859

Cumulative % Total
52.550
1.577
80.409

19.591

100.000

Variance
52.550

Extraction Method: Principal Component Analysis.

Component Matrixa
Component
1
HEU2
.811
HEU1
.681
HEU3
.674
Extraction Method: Principal Component Analysis.
a. 1 components extracted.
Rotated Component Matrixa
a. Only one component was extracted. The solution cannot be rotated.

1.6.2 Heuristic Reliability

Case Processing Summary
N
%
Valid
200
100.0
Excludeda
0
.0
Total
200
100.0
a. Listwise deletion based on all variables in the
Cases

procedure.
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's

Standardized

Alpha
.530

Items
.544

N of Items
3

Cumulative %
52.550

Item Statistics
Description

Std.
Mean

HEU3 Tingkat pengembalian akhir investasi SBN anda telah sesuai

harapan
HEU2 Anda merasa puas dengan keputusan investasi Anda tahun

Deviation

3.8400 1.06775

lalu (termasuk jual, beli,memilih SBN, dan memutuskan 3.5950 .82728

volume SBN)
HEU1 Anda membeli SBN dan menghindari menghindari investasi
lain yang berisiko tinggi

Scale Statistics
Mean
Variance
10.9000
4.030

Std. Deviation
2.00752

3.4650 .88470

N
200

200

200

N of Items
3

1.6.3 Market Factor Analysis

Communalities
Initial
Extraction
MAR1
1.000
.504
MAR2
1.000
.744
MAR3
1.000
.646
Extraction
Method:
Principal
Component Analysis.
Total Variance Explained
Initial Eigenvalues
Component
Total
% of Variance
1
1.894
63.131
2
.699
23.299
3
.407
13.570

Cumulative %
63.131
86.430
100.000

Extraction Method: Principal Component Analysis.

Component Matrixa
Component
1
MAR2
.863
MAR3
.803
MAR1
.710
Extraction Method: Principal Component Analysis.

Extraction Sums of Squared Loadings

Total
% of Variance
Cumulative %
1.894
63.131
63.131

a. 1 components extracted.
Rotated Component Matrixa
a. Only one component was extracted. The solution cannot be rotated.

1.6.4 Market Reliability

Case Processing Summary
N
%
Valid
200
100.0
Excludeda
0
.0
Total
200
100.0
a. Listwise deletion based on all variables in the
Cases

procedure.
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's

Standardized

Alpha
.705

Items
.705

N of Items
3

Item Statistics
Description

Std.
Mean

MAR1 Anda mempertimbangkan dengan hati-hati harga dan kupon

SBN yang akan Anda beli
MAR2 Anda sangat bereaksi terhadap perubahan harga SBN di
pasar sekunder
MAR3 Anda menganalisis preferensi investor lain sebelum anda
berinvestasi di SBN
(untuk memastikan SBN yang dibeli likuid dipasar sekunder)

Scale Statistics
Mean
Variance
10.6600
5.291

Std. Deviation
2.30019

N of Items
3

Deviation

4.0050 .81751

200

3.2800 .98817

200

3.3750 1.07711

200

1.6.5 Income Factor Analysis

Communalities
Initial
Extraction
INC1
1.000
.421
INC2
1.000
.467
INC3
1.000
.728
INC4
1.000
.424
Extraction
Method:
Principal
Component Analysis.
Total Variance Explained
Initial Eigenvalues
%

Extraction Sums of Squared Loadings

%
of

of

Component Total
1
2.039
2
.900
3
.678

Variance
50.980
22.496

Cumulative % Total
50.980
2.039
73.476

16.947

90.423

9.577

100.000

.383

Variance
50.980

Extraction Method: Principal Component Analysis.

Component Matrixa
Component
1
INC3
.853
INC2
.683
INC4
.651
INC1
.649
Extraction Method: Principal Component Analysis.
a. 1 components extracted.
Rotated Component Matrixa
a. Only one component was extracted. The solution cannot be rotated.

1.6.6 Income Reliability

Case Processing Summary
Cases

Valid
Excludeda
Total

N
200
0
200

%
100.0
.0
100.0

Cumulative %
50.980

a. Listwise deletion based on all variables in the

procedure.

Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's

Standardized

Alpha
.621

Items
.672

N of Items
4

Item Statistics
Description

Std.
Mean

INC1 Untuk dapat membuat keputusan investasi harus memperoleh

tidak

menyisihkan

sebagian

pendapatannya

200

untuk 3.4450 1.23881

200

proporsi investasi
INC3 Anda mempertimbangkan pengalaman investasi masa lalu saat

4.1100 .63238
mengambil keputusan investasi
INC4 Target hasil investasi anda mempengaruhi pemilihan tenor SBN 3.8650 .84875

Scale Statistics
Mean
Variance
15.1950
7.595

Std. Deviation
2.75589

3.7750 1.18380

penghasilan lebih terlebih dahulu

INC2 Tingkat penghasilan terlalu kecil membuat seseorang beralasan
untuk

Deviation

200
200

N of Items
4

1.6.7 Awareness Factor Analysis

Communalities
Initial
AWA1
1.000
AWA2
1.000
AWA3
1.000
AWA4
1.000
AWA5
1.000
Extraction Method: Principal Component Analysis.
Total Variance Explained
Component Initial Eigenvalues

Extraction
.589
.819
.917
.891
.487

Extraction Sums of Squared Rotation Sums of

Loadings

Squared
Loadingsa

of Cumulative

1
2
3

Total
2.046
1.657
.820

Variance
40.919
33.146
16.391

%
40.919
74.065
90.455

.313

6.270

96.725

.164

3.275

100.000

of Cumulative

Total Variance
2.046 40.919
1.657 33.146

%
40.919
74.065

Total
1.886
1.836

Extraction Method: Principal Component Analysis.

a. When components are correlated, sums of squared loadings cannot be added to obtain a total
variance.
Component Matrixa

AWA4
AWA2
AWA1
AWA3
AWA5

Component
1
.790
.751
.557
.673

2
.517
-.505
-.528
.681
.626

Extraction Method: Principal Component Analysis.

a. 2 components extracted.
Pattern Matrixa
Component
1
AWA3

.958

AWA4

.932

AWA2

-.871

AWA1

-.763

AWA5

.679

Extraction Method: Principal Component Analysis.

Rotation Method: Oblimin with Kaiser Normalization.
a. Rotation converged in 6 iterations.
Structure Matrix
Component
1
AWA3

.953

AWA4

.938

AWA2

-.881

AWA1

-.766

AWA5

.669

Extraction Method: Principal Component Analysis.

Rotation Method: Oblimin with Kaiser Normalization.

1.6.8 Awareness Reliability

Case Processing Summary
N
%
Valid
200
100.0
Excludeda
0
.0
Total
200
100.0
a. Listwise deletion based on all variables in the
Cases

procedure.
Reliability Statistics
Cronbach's
Alpha Based on
Cronbach's

Standardized

Alpha
.529

Items
.467

N of Items
5

Item Statistics
Description

Std.
Mean

AWA1 Dalam membuat keputusan investasi pada SBN anda

mendapatkan saran dari rekan-rekan
AWA2

Sebelum membuat keputusan investasi pada SBN

AWA3

anda mendapatkan saran dari kerabat

Anda ingin berinvestasi pada SBN dengan tenor

AWA4

lebih dari 5 tahun

Anda lebih memilih investasi jangka panjang

AWA5

daripada investasi jangka pendek

Anda memiliki informasi yang cukup mengenai
SBN

Scale Statistics
Mean
Variance
16.1250
9.386

Std. Deviation
3.06371

N of Items
5

1.6.9 Investment Decision Factor Analysis

Deviation

3.3900 1.01144

200

2.7050 1.14654

200

2.9450 1.09452

200

3.1550 1.13464

200

3.9300 .76684

200

Communalities
Initial
Extraction
INV1
1.000
.680
INV2
1.000
.648
INV3
1.000
.600
INV4
1.000
.832
Extraction
Method:
Principal
Component Analysis.
Total Variance Explained
Rotation Sums of
Extraction Sums of Squared Squared
Loadingsa

Initial Eigenvalues
%
of Cumulative

Loadings
%

Component
1
2
3

Total
1.705
1.055
.728

Variance
42.629
26.382
18.208

%
42.629
69.011
87.219

Total Variance
1.705 42.629
1.055 26.382

.511

12.781

100.000

of Cumulative
%
42.629
69.011

Total
1.691
1.076

Extraction Method: Principal Component Analysis.

a. When components are correlated, sums of squared loadings cannot be added to obtain a total
variance.
Component Matrixa
Component
1
INV1

.822

INV2

.785
.596

INV3
INV4

-.496
.880

Extraction Method: Principal Component Analysis.

a. 2 components extracted.

Pattern Matrixa
Component
1
INV1

.821

INV2

.742
.674

INV3
INV4

Extraction Method: Principal Component Analysis.

Rotation Method: Oblimin with Kaiser Normalization.
a. Rotation converged in 6 iterations.

-.403
.906

Structure Matrix
Component
1
INV1

.823

INV2

.751

INV3

.662

INV4

.908

Extraction Method: Principal Component Analysis.

Rotation Method: Oblimin with Kaiser Normalization.

1.6.10

Investment Decision Factor Analysis After Dropping

Communalities
Initial
Extraction
INV1
1.000
.687
INV2
1.000
.594
INV3
1.000
.400
Extraction
Method:
Principal
Component Analysis.
Total Variance Explained
Initial Eigenvalues
%
Component Total
1
1.681
2
.805
3
.514

Extraction Sums of Squared Loadings

%
of

of

Variance
56.035
26.835

Cumulative % Total
56.035
1.681
82.870

17.130

100.000

Extraction Method: Principal Component Analysis.

Variance
56.035

Cumulative %
56.035

Component Matrixa
Component
1
INV1
.829
INV2
.770
INV3
.633
Extraction Method: Principal Component Analysis.
a. 1 components extracted.
Rotated Component Matrixa
a. Only one component was extracted. The solution cannot be rotated.

1.6.11Investment Decision Reliability

Case Processing Summary
N
Valid
200
a
Excluded
0
Total
200
a. Listwise deletion based on all variables in the procedure.
Cases

Reliability Statistics
Cronbach's Alpha
.606

%
100.0
.0
100.0

Cronbach's Alpha Based on Standardized Items

.602

N of Items
3

Item Statistics
Description

Std.
Mean

INV1 Tingkat pendapatan memiliki efek terhadap

keseluruhan

Deviation

4.0850 .72137

200

4.0700 .60575

200

keputusan investasi mempengaruhi pengambilan keputusan 4.3850 .48782

200

keputusan investasi
INV2 Tingkat pendidikan mempengaruhi pengambilan keputusan
investasi ke tingkat yang moderat
INV3 Sumber informasi yang digunakan ketika membuat pengambilan
investasi

Scale Statistics
Mean

Variance

Std. Deviation

N of Items

12.5400

1.888

1.37399

2.1

AMOS Output ALL Variable before Fit

2.2

AMOS Output ALL Variable After Fit

2.3

AMOS Output ALL Variable Constelation

Estimate

S.E.

C.R.

InvestmentDecision
InvestmentDecision

2.4

<--- Income
<--- Heuristic

Estimate
.383
.623

S.E.
.101
.198

C.R.
3.812
3.139

P
***
.002

AMOS Output ALL Variable Constelation Final

Name
Probability
CMIN/DF
CFI
RMSEA

Acceptable Level
P > 0.05
1.0 < X2 / df < 2.0
CFI > 0.95
RMSEA < 0.05
C.R.

Heuristic

<--

Market

-2.747

Hasil

.006 Tidak Signifikan

Result
0.063
1.536
0.972
0.052
Standardize Total
Effect
-0,264

Mi

<-Income
InvestmentDecisio <-n
InvestmentDecisio <-n
-

C.R.

Market

1.845

.065

Income

4.636

***

Heuristi
c

3.490

***

Hasil

Standardize Total
Effect

Tidak Signifikan

0,159

We

Signifikan

0,436

Mo

Signifikan

0,707

Str