Research of the Stock Price Overreaction and Investor Overconfidence Issues

Raharja, Bayu Sindhu; Suhaeli, Dahli; Mranani, Muji

doi:10.3846/bme.2017.358

Cited by 6 publications

(5 citation statements)

References 41 publications

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“…This result is in line with several previous studies that state that female and male have different behaviors in purchase decision (Bashir et al , 2013; Hassan, 2015; Ma et al , 2012; Michon et al , 2008; Mittal, 2019; Mokoena and Maziriri, 2017; Nayebzadeh and Jalaly, 2014; North et al , 2003; Rajput et al , 2012; Rao et al , 2018; Sheth, 1974; Zhuang et al , 2006). Raharja et al (2017) pinpoint that men tend to be spontaneous in product purchasing. Meanwhile, women always consider many aspects at the time of purchasing and so require a long time to become loyal consumers.…”

Section: Discussionmentioning

confidence: 99%

Do young Muslim choose differently? Identifying consumer behavior in Halal industry

Arifin¹,

Raharja²,

Nugroho³

2022

JIMA

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Purpose With a substantial Muslim population in the world, Indonesia has economic potential in halal products’ consumption. However, as new products develop, halal products need a specific marketing strategy since the consumers of this industry have unique characteristics. This study aims to examine consumer behavior toward halal products by examining how content quality, religious consciousness and brand awareness affect consumer buying behavior and consumer loyalty. Design/methodology/approach This research uses a quantitative approach by surveying 1,429 young Muslim students in Indonesia. This research uses a structural equation model analysis to prove the relationship among the variables of this study. Findings The results revealed that religious consciousness and content quality have a direct positive significant influence on consumer buying behavior. The indirect significant effect is also exhibited by brand awareness as a mediating variable. This paper also found empirical evidence that consumer buying behavior has a significant positive relationship with consumer loyalty. Besides, the significant positive relationship between consumer buying behavior and consumer loyalty is moderated by consumers’ gender. Research limitations/implications This study is restricted in young Muslim community from Islamic universities in Yogyakarta and Central Java, Indonesia. Besides that, this research is further restricted regarding the involved variables that is tested in proposed model. This concerns the involvement of content quality, religious consciousness, brand awareness, consumer buying behavior and consumer loyalty. Practical implications The result would give an insight to marketing practitioners on formulating marketing strategy to attract much consumers on purchasing halal products and then expanding their business. This study further profound that religious-based products’ consumers have seem characteristics to conventional-based products, they need to be induced through rational approaches of appropriate content marketing strategy. Originality/value This study gives an empirical proof to extended of stimuli-organism-respond model, which is held by many scholars as the primary theory in spelling out the consumer behavior. To the best of the authors’ knowledge, this research is the first study that attempts the using of such theory to capture the consumer behavior in halal industry. Besides, this study further serves a breakthrough on how does content marketing determine young Muslim consumers’ behavior.

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Section: Discussionmentioning

confidence: 99%

Do young Muslim choose differently? Identifying consumer behavior in Halal industry

Arifin¹,

Raharja²,

Nugroho³

2022

JIMA

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“…However, it is consistent with several previous studies that found trust to be a critical factor affecting the intention to behave. For instance, consumers were observed to make a purchasing decision when they trust a product (Bonsón Ponte et al, 2015;Chinomona et al, 2013;Raharja et al, 2017;Sethna et al, 2017;Weisberg et al, 2011). Therefore, as an official partner in the forthcoming mass COVID-19 vaccination program, the government must pay more attention to establishing public trust to ensure the successful completion of the program.…”

Section: Discussionmentioning

confidence: 99%

Critical Factors Affecting the Participation in COVID-19 Vaccination Program in Residency of Surakarta: The Extended Theory of Planned Behaviour

Raharja¹,

Sari²

2022

JMTT

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Objective: This study evaluates the critical factors affecting COVID-19 vaccine acceptance in Indonesia using a proposed extended theory of planned behaviour (extended-TPB). Design/Methods/Approach: We conducted an online survey (N = 222 respondents) using a valid and reliable questionnaire to evaluate people's intention to take the COVID-19 vaccination. A structural equation modeling was performed to demonstrate the impact of religious acceptance (RA), vaccine safety (SF), trust (TS), perceived behavioural control (PBC), attitude towards vaccination (ATT), and subjective norms (SN), on intention (IN) to accept COVID-19 vaccine. Findings: The results show positive relationships of all hypotheses except the correlation between RA and TS. TS becomes a positive determinant of ATT, SN, PBC, and INT, and TS is influenced by SF but not by RA. TS is the key determinant factor of intention to uptake the COVID-19 vaccine. Originality: This study used a proposed extended TPB by adding trust, religious acceptance, and safety as additional components of TPB to predict the intention to participate in COVID-19 vaccination. This study is essential because the vaccine is believed to be the best strategy to deal with virus-related diseases, such as COVID-19. However, there is a lack of information on the multifactor effects of Indonesian people's acceptance of vaccination, especially among Surakarta residents. Practical/Policy implication: This research can be a recommendation for the Indonesian government to elevate public intention to take the COVID-19 vaccine, especially by implementing policies that accentuate people's trust by confirming and publishing information about the vaccine safety.

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“…Based on the information they are preview to, investors tend to believe that they know more. They found on knowledge and skills and disregarded the risk associated with the investment (Raharja et al, 2017). Overconfidence bias has a significant favourable influence on investment decisions (Subash, 2012).…”

Section: Overconfidence Biasmentioning

confidence: 99%

Behavioural Finance and Investment Decisions: Does Behavioral Bias Matter?

Nkukpornu¹,

Gyimah²,

Sakyiwaa³

2020

IBR

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This paper examines the nexus between behavioural bias and investment decisions in a developing country context. Specifically, this study tests the effect of four behavioural biases (overconfidence, regret, belief, and “snakebite”) on investment decisions. Descriptive statistics and inferential statistics including multiple regression are used to examine the behavioural biases-investment decisions nexus. The study reveals that the four bias have a significant positive and robust relationship with investment decision making. The result also shows that the "snakebite" effect contributes more to the decision making, followed by belief bias then regret bias. Overconfidence bias, however, contributes the least effect on investment decisions. Our contribution confirms the prospect theory and that behavioural bias influences investment decisions in the developing country perspective. 

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Research of the Stock Price Overreaction and Investor Overconfidence Issues

Cited by 6 publications

References 41 publications

Do young Muslim choose differently? Identifying consumer behavior in Halal industry

Do young Muslim choose differently? Identifying consumer behavior in Halal industry

Critical Factors Affecting the Participation in COVID-19 Vaccination Program in Residency of Surakarta: The Extended Theory of Planned Behaviour

Behavioural Finance and Investment Decisions: Does Behavioral Bias Matter?

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