The contrarians: Are they really the winner?

Budiarso, Novi Swandari; Pontoh, Winston

doi:10.58784/cfabr.22

CFABR

2023

DOI: 10.58784/cfabr.22

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The contrarians: Are they really the winner?

Novi Swandari Budiarso

Winston Pontoh

Abstract: Several new global issues information (including the COVID-19 pandemic) tends to have an impact on the capital market in Indonesia but big-cap stocks show good performance compared to small-cap stocks. Employing 766 listed firms as sample with 246 market days, this study examines whether the contrarians are really the winner. This study finds that the contrarians succeed to beat the market by violating the efficient market hypothesis. However, the success of the contrarian strategy does not seem to indicate th… Show more

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The “Christmas Effect” on defensive accelerated stocks

Kuada,

Mamonto

2023

CFABR

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The Christmas event in December 2022 is accompanied by an increase in inflation and also an increase in interest rates. The objective of this study is to examine the Christmas effect on optimal returns for investors. To analyze this phenomenon, this study carries out several stages, which are testing the market efficiency and estimating whether there are abnormal returns or not throughout the Christmas period. The consumer non-cyclical sector stocks in the accelerating trading board are used as the sample. The observation period is from 28 November 2022 to 20 January 2023 and is divided into two sub-periods. This study finds that market condition is inefficient before the Christmas event, resulting in higher abnormal returns and risks.

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The “Christmas Effect” on defensive accelerated stocks

Kuada,

Mamonto

2023

CFABR

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Kondisi pasar Indonesia dalam isu inflasi nasional dan geopolitik global

Luntungan

2024

RAMP

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In early 2022, changes in the inflation rate accompanied by global geopolitical issues became crucial information for the Indonesian capital market. At that time, inflation conditions in Indonesia began to creep up to reach a point of around 2%. This study aims to examine the market return performance of the LQ45 Index in the context of changes in the inflation rate and global geopolitical issues. Observations are carried out in 2 sub-periods: (1) 6 October 2021 to 30 December 2021 or the period with low inflation; and (2) January 3 2022 to March 31 2022 or a period with a high inflation rate. The findings of this study show that the highest market returns with low risk are in periods of high inflation and accompanied by global geopolitical issues. This period also produces a better risk-return trade-off. Other findings indicate that the market in both periods did not produce extraordinary returns even though it was in a weak form of inefficiency. Changes in the inflation rate accompanied by global geopolitical issues did not significantly change market returns.

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Risiko sistematis emiten pangan dalam isu krisis pangan

Lumenta,

Ruus

2023

RAPI

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The issue of the global food crisis since the COVID-19 pandemic is still rife in the Indonesian capital market until early 2023. The purpose of this study is to analyze systematic risk and stock return performance. The sample for this study is stocks in the food sub-sector in Indonesia with an observation period from 1 January 2023 to 30 April 2023. This study finds that the performance of returns on risk is still not optimal for all samples where the average stock returns and systematic risk are still low. Individually, GZCO is a high-risk and return asset and has optimal stock performance.

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The contrarians: Are they really the winner?

Cited by 3 publications

References 12 publications

The “Christmas Effect” on defensive accelerated stocks

The “Christmas Effect” on defensive accelerated stocks

Kondisi pasar Indonesia dalam isu inflasi nasional dan geopolitik global

Risiko sistematis emiten pangan dalam isu krisis pangan

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