Market anomalies in the Korean stock market

Minyeon, Han; Lee, Dong-Hyun; Kang, Hyoung‐Goo

doi:10.1108/jdqs-03-2020-0004

Cited by 6 publications

(5 citation statements)

References 79 publications

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“…Rasio profitabilitas juga memberikan ukuran tingkat efektivitas manajemen suatu perusahaan (Jeewon & Jangkoo, 2019). Kemampuan perusahaan dalam mencari keuntungan membuat harga saham juga terpengaruh (Han et al, 2020). Terlebih dari hal tersebut, maka didapat hasil dari beberapa penelitian sebelumnya yang dilakukan oleh (Suh, 2018), Kwon (2018), Gul & Cho (2019) dan Asikin et al (2020) mengenai pengaruh profitabilitas, dimana pada penelitian tersebut menunjukkan bahwa profitabilitas memiliki dampak positif, sedangkan oleh Rahmadewi & Abundanti (2018), Bobsaid & Wahyuati (2018) dan Santy (2018), profitabilitas berpengaruh negatif terhadap harga saham dengan ditemukan perbedaan hasil pada penelitian maka perlu dilakukan penelitian lebih lanjut mengenai pengaruh profitabilias terhadap harga saham.…”

Section: Pendahuluanunclassified

Pengaruh Profitabilitas, Price to Book Value, Book Value Per Share Terhadap Harga Saham Perusahaan Perbankan

Suryadi

Dana

2023

EJMUNUD

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Composite Stock Price Index (JCI) during 2017-2020 has increased due to the increasing number of investors and also reflected in the high stock prices of banks. Increase of the Bank stock price is result of investor purchases influenced by supply and demand. Study based on data of banking companies listed on the Indonesia Stock Exchange (IDX). There are nine bank stocks on the Indonesia Stock Exchange (IDX) 80 index used as a sample in this study, The Sample is selected using saturation sampling. This study aims to determine the effect of Return on Equity (ROE), Price to Book Value (PBV), and Book Value Per Share (BVPS) on stock pricesin bankingcompanies at IDX 2017-2020. Data analysis used multiple linear regression. Results showed PBV and BVPS had positive significant effect on stock prices. Partially ROE variable hasa negative effect on stock prices in banking companies on the IDX, but partially PBV and BVPS each have positive significant effect on stock prices. This research implies that PBV and BVPS can considered as one the determinants of stock prices, but ROE shows there is no effect on stock prices in banking companies on the IDX 2017-2020. Keywords: Profitability, Book Value Per Share, Price to Book Value, Stock Price, Banking Stocks.

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Section: Pendahuluanunclassified

Pengaruh Profitabilitas, Price to Book Value, Book Value Per Share Terhadap Harga Saham Perusahaan Perbankan

Suryadi

Dana

2023

EJMUNUD

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“…The market anomaly can be more pronounced for KOSDAQ-listed stocks. The traditional asset pricing model is known to have low explanatory power for KOSDAQ-listed stocks [ 84 ], which is akin to the findings for other international stock markets. This means that the existing asset price model lacks explanatory power in the KOSDAQ market.…”

Section: Empirical Analysismentioning

confidence: 99%

Conditional autoencoder asset pricing models for the Korean stock market

Kim,

Cho,

Koo

et al. 2023

PLoS ONE

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This study analyzes the explanatory power of the latent factor conditional asset pricing model for the Korean stock market using an autoencoder. The autoencoder is a type of neural network in machine learning that can extract latent factors. Specifically, we apply the conditional autoencoder (CA) model that estimates factor exposure as a flexible nonlinear function of covariates. Our main findings are as follows. The CA model showed excellent explanatory power not only in the entire sample but also in several subsamples in the Korean market. Also, because of this explanatory power, it can better explain market anomalies compared to the traditional asset pricing models. As a result of examining investment strategies using pricing error, the CA model measures the expected return of stocks better than the traditional asset pricing model. In addition, the CA model indicates that the firm characteristic variables are important in asset pricing conditional on macro-financial states, such as the global financial crisis and the coronavirus disease 2019 pandemic. The result shows that the major variables considered in the explanation of stock returns through the CA model may vary depending on the time. This is expected to provide a broader perspective on asset pricing through the CA model in the future.

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“…Dalam penerapannya p-value digunakan untuk menguji signifikansi hipotesis sebuah penelitian, nilai pvalue dapat dianggap signifikan apabila nilainya lebih kecil dari 0,05 Hair et al, (2019). Dan nilai t-statistic yang digunakan adalah lebih besar dari 196 (> 1,96) Han et al, (2020).…”

Section: Analisis Jalur (Path Coefficient)unclassified

Faktor yang Mempengaruhi Customer Satisfaction dan Dampaknya terhadap Intention to Spread Positive WOM Keren Coffee

Setiadi,

Ruslim

2023

JMK

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Di era new normal ini membuat masyarakat harus melakukan kegiatan – kegiatan produktifnya secara jarak jauh atau WFH (Work From Home)dengan munculnya fenomena ini membuat masyarakat yang saat ini melakukan kegiatan produktif seperti di cafe untuk menikmati secangkir kopi dan makanan sambil melakukan kegiatan ataupun sekedar untuk bersantai. Dalam menjalankan usaha di bidang makanan & minuman tentunya kepuasan pelanggan merupakan faktor kesusksesan dalam menjalankan usaha ini. Dengan menciptakan kepuasan yang tinggi tentunya akan membuat pelanggan untuk menceritakan pengalaman positifnya kepada orang lain sehingga usaha yang dibangun akan lebih dikenal oleh masyarakat. Terdapat beberapa hal yang harus diperhatikan untuk meningkatkan kepuasan pelanggan yaitu kualitas makanan, kualitas pelayanan,suasana, kenyamanan dan persepsi harga. Teknik pengumpulan sampel pada penelitian ini adalah purposive sampling, yaitu teknik dengan menentukan sampel dengan menggunakan kriteria dan pertimbangan tertentu. Pada penelitian ini terdapat 100 responden pelanggan Keren Coffee di Jakarta. Metode dan analisis data yang digunakan dalam penelitian ini adalah structural equation modeling (SEM) yang diolah menggunakan software SmartPls. Hasil dari penelitian ini bahwa food quality,service quality, atmosphere, convenience dan price perception dapat mempengaruhi customer satisfaction secara positif dan signifikan. Selain itu customer satisfaction dapat juga memediasi pengaruh antara food quality terhadap WOM pada pelanggan Keren Coffee di Jakarta. In this new normal era, people have to carry out productive activities remotely or WFH (Work From Home) with the emergence of this phenomenon makes people who are currently carrying out productive activities such as in cafes to enjoy a cup of coffee and food while doing activities or just to relax. In running a business in the food & beverage sector, of course, customer satisfaction is a success factor in running this business. By creating high satisfaction, of course, it will make customers to tell their positive experiences to others so that the business they build will be better known by the public. There are several things that must be considered to increase customer satisfaction, namely food quality, service quality, atmosphere, convenience and price perception. The sample collection technique in this study is purposive sampling, which is a technique by determining samples using certain criteria and considerations. In this study, there were 100 respondents to Keren Coffee customers in Jakarta. The method and data analysis used in this study is structural equation modeling (SEM) which is processed using SmartPls software. The results of this study that food quality, service quality, atmosphere, convenience and price perception can affect customer satisfaction positively and significantly. In addition, customer satisfaction can also mediate the influence of food quality on WOM on Keren Coffee customers in Jakarta.

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Market anomalies in the Korean stock market

Cited by 6 publications

References 79 publications

Pengaruh Profitabilitas, Price to Book Value, Book Value Per Share Terhadap Harga Saham Perusahaan Perbankan

Pengaruh Profitabilitas, Price to Book Value, Book Value Per Share Terhadap Harga Saham Perusahaan Perbankan

Conditional autoencoder asset pricing models for the Korean stock market

Faktor yang Mempengaruhi Customer Satisfaction dan Dampaknya terhadap Intention to Spread Positive WOM Keren Coffee

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