Pengaruh Perilaku Follower Investor pada Volatilitas Saham

Untari, Made Dewi Ayu

doi:10.24843/jiab.2017.v12.i01.p06

Cited by 6 publications

(9 citation statements)

References 4 publications

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“…Dengan tingginya volatilitas IHSG, investor harus mampu mengambil keputusan investasi secara cepat dan tepat dengan terlebih dahulu melakukan analisis pada setiap informasi yang bisa dikumpulkan dari pasar modal. Menurut (Untari, 2017) beberapa penyebab investor berperilaku tidak rasional, antara lain: a) Faktor Psikologis, seperti takut menyesal, terlalu percaya diri, pesimisme, dan optimisme. Investor yang memiliki ketakutan akan penyesalan biasanya raguragu dalam bertindak dan tidak rasional ketika berinvestasi.…”

Section: Pendahuluanunclassified

Pengaruh Perilaku Herding dan Volatilitas IHSG terhadap Return Pasar di Bursa Efek Indonesia

Wijaya

Meirisa

2020

JIBM

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This study aims to determine the influence of herding behavior and JCI volatility on market returns at Indonesia Stock Exchange during 2014-2018 period. This research applies quantitative research methods. The sample in this study was taken using a saturated sampling technique. The data in this study uses secondary data collected from various sources, such as the Indonesia Stock Exchange, Yahoo! Finance, Bloomberg and Reuters. This study uses multiple linear regression analysis to process data and test hypotheses. The results of this study found that herding behavior had a positive and significant effect on market returns, while the JCI volatility had a positive and significant effect on market returns. Further researchers are advised to add several other variables that can affect market returns, such as inflation rates, interest rates, and others.Abstrak. Penelitian ini bertujuan untuk mengetahui adanya pengaruh perilaku herding dan volatilitas IHSG terhadap return pasar di Bursa Efek Indonesia selama periode 2014-2018. Penelitian ini menerapkan metode penelitian kuantitatif. Sampel pada penelitian ini diambil menggunakan teknik sampling jenuh. Data dalam penelitian ini menggunakan data sekunder yang dikumpulkan dari berbagai sumber, seperti Bursa Efek Indonesia, Yahoo! Finance, Bloomberg dan Reuters. Penelitian ini menggunakan analisis regresi linier berganda untuk mengolah data dan menguji hipotesis. Hasil dari penelitian ini menemukan bahwa perilaku herding berpengaruh positif dan signifikan terhadap return pasar, sedangkan volatilitas IHSG berpengaruh positif dan signifikan terhadap return pasar. Bagi peneliti selanjutnya disarankan untuk menambahkan beberapa variabel lain yang bisa mempengaruhi return pasar, seperti tingkat inflasi, suku bunga, dan lain-lain.Kata kunci: Perilaku Herding, Volatilitas IHSG, Return Pasar.

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Section: Pendahuluanunclassified

Pengaruh Perilaku Herding dan Volatilitas IHSG terhadap Return Pasar di Bursa Efek Indonesia

Wijaya

Meirisa

2020

JIBM

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“…Baddeley (2012) states that there are indicators that can cause investors to herd in their financial decisions. Investor behavior depends on how available information is being presented to them and how much they are likely to take risks while making decisions, thus playing an important role in determining the investment style of investors (Untari, 2017). Companies registered with ISSI come from various sectors so the information disclosed by each company is very different.…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

“…Weak GGBS disclosure will cause investor confidence in the information to fade, resulting in herding behavior. Untari (2017) argues that disclosure of information by companies can act as a determinant of investor investment style. Kampshoff et al (2012) state that by disclosing information about individual short positions can stimulate the occurrence of herding behavior.…”

Section: H1 : There Is Herding Behavior On the Indonesian Sharia Stock Indexmentioning

confidence: 99%

Herding Behaviour in Sharia Stock: The Moderation Effect of Good Governance Business Sharia Disclosure

Arisanti

Oktavendi

2020

jai

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Research aims: One of the irrational behavior of investors is herding behavior. Disclosure of certain information is one of the triggering factors for herding behavior. However, "whether all the various types of information disclosure can encourage herding?" This is a big question related to the success of Good Governance Business Sharia (GGBS) information disclosure in stimulating herding behavior in Sharia stock trading. Hence, this study aims to examine the role of GGBS disclosure in herding behaviour. Design/Methodology/Approach: This study uses the object of companies listed on the ISSI (Indonesian Sharia Stock Index 2018. Data analysis in this research is using the Regression and moderation Test. Research findings:The results show that the GGBS disclosure was able to moderate herding behavior in Indonesian Sharia Stock. In this study it was found that the presence of GGBS Disclosure further strengthens the existence of herding behavior, meaning that investors conduct herding behavior reinforced by the information coming from within the company in the form of disclosure of GGBS Disclosure. Theoretical contribution/Originality: The theoretical impact is to expand the study of herding behavior and relate it to the disclosure of information. This study is also an initiator that examined the role of GGBS as moderating variable. Practitioner/Policy implication: The implication of this research is to be able to increase company concern in terms of GGBS disclosure so that the sharia stock market can be more transparent. Research limitation/Implication: This research only focuses on one information, namely GGBS Disclosure. This cannot generalize that information disclosure can strengthen or even weaken the existence of herding behavior. This research only uses one method of detection of herding, namely using Cross-Sectional Absolute Deviation (CSAD). This study uses all objects in the Indonesian Sharia Stock Index (ISSI) without considering sharia activities in each company.

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“…Even so, this was different from the increase in the financial literacy of the Indonesian people, as reflected in the Financial Inclusion Index level of 76.19%, compared to the Indonesian Financial Literacy is 38.03% (Sugianto, 2021). This difference in the percentage of inclusion and financial literacy means that increasing public access to financial products has not been fully followed by an understanding of the risks (Fatimah, 2021) and has the potential to create herding behavior among new investors, which can have an impact on stock price volatility (Untari, 2017).…”

Section: Introductionmentioning

confidence: 99%

Analysis of the Effectiveness of the Broker Code Closing Policy in Running Trade on Herding Behavior

Juwita,

Muryadi,

Ingriyani

2023

I-iECONS

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The broker code closure policy in running trades carried out by the Indonesia Stock Exchange on December 6, 2021, aims to overcome herding behavior and make better price spreads in the Indonesian capital market. This study aims to determine the policy's success by examining the existence of herding behavior before and after the broker code closure policy is enforced using the Cross-Sectional Absolute Deviation method and by looking at price volatility during the research period. Based on the research that has been carried out, it is known that there is a herding behavior before the policy is implemented, and there is no herding behavior after the policy is enforced. This means that the broker code closure policy in running trades carried out by the Indonesia Stock Exchange has succeeded in overcoming the herding behavior contained in the Indonesian capital market but is still not effective in overcoming price spreads that occur in the Indonesian capital market because there is the market sentiment towards economic conditions that occur both nationally and globally.

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Pengaruh Perilaku Follower Investor pada Volatilitas Saham

Cited by 6 publications

References 4 publications

Pengaruh Perilaku Herding dan Volatilitas IHSG terhadap Return Pasar di Bursa Efek Indonesia

Pengaruh Perilaku Herding dan Volatilitas IHSG terhadap Return Pasar di Bursa Efek Indonesia

Herding Behaviour in Sharia Stock: The Moderation Effect of Good Governance Business Sharia Disclosure

Analysis of the Effectiveness of the Broker Code Closing Policy in Running Trade on Herding Behavior

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