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All Journal Journal of Indonesian Economy and Business MODUS-Jurnal Ekonomi dan Bisnis
Sukmawati Sukamulja
Universitas Atma Jaya Yogyakarta
Economics, Econometrics & Finance

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The Effect of Google Search Volume Index on Underpriced IPOs and Divergence of Opinions Megen Chivianti; Sukmawati Sukamulja
Journal of Indonesian Economy and Business (JIEB) Vol 36, No 1 (2021): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.55759

Abstract

Introduction/Main Objectives: The purpose of this paper is to examine the effect of the Google Search Volume Index (GSVI), as the moderating variable, on underpriced IPOs, as the independent variable, on the divergence of opinions, as the dependent variable. Background Problems: A divergence of opinions may arise when an error occurs while estimating the right price due to the unavailability of information or only having limited information. Before a company conducts an IPO, potential investors will look for information about the company and each one may interpret the data differently, which results in disagreements between the investors. The investors’ attention is a disagreement mechanism. Research Methods: This study employs the regression analysis of moderation variables with an absolute difference method (ADM) on a sample of 79 Indonesian companies that conducted an IPO between 2015 and 2019. Finding/Results: This study discovered a negative relationship between the initial return and market-adjusted turnover without an interaction effect in the model. The investors’ attention reduces disagreements about underpriced IPOs in the aftermarket. Conclusion: The result of this study found that investors’ attention reduces disagreements about underpriced IPOs proxied by the initial return, because investors closely monitor other information available on the Internet.
PENGGUNAAN KOMBINASI INDIKATOR SMA, EMA, MACD, RSI, DAN MFI UNTUK MENENTUKAN KEPUTUSAN BELI DAN JUAL PADA SAHAM-SAHAM DI SEKTOR LQ45 BEI TAHUN 2018 Agustinus Adi Santoso; Sukmawati Sukamulja
Modus Vol. 32 No. 2 (2020): MODUS
Publisher : Faculty of Business and Economics Universitas Atma Jaya Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24002/modus.v32i2.3519

Abstract

ABSTRACTThis research was conducted to determine the selection of the highest performing stock group indicators, so that it can be used as a reference for buying shares. This study tested six combinations of technical indicator groups, then this technical combination was used to test the price of shares whose companies are included in the LQ45 group on the Indonesia Stock Exchange (BEI) in 2018. The results of this study indicate that the use of stock indicator groups with the maximum profit percentage and the shortest number of days is the best groups. The sequence of indicator groups with good performance to poor performance is 1: EMA, MFI, and RSI; 2: MA, MFI, and RSI; 3: MA, MACD, and MFI; 4: MA, MACD, and RSI; 5: EMA, MACD, and MFI; 6: EMA, MACD, and RSI. Keywords: Indonesia Stock Exchange; LQ45; stock trading; technical indicatorsABSTRAKPenelitian ini dilakukan untuk mengetahui pemilihan kelompok indikator saham yang paling tinggi kinerjanya, sehingga dapat dijadikan acuan untuk pembelian saham. Pada penelitian ini diuji enam kombinasi dari kelompok indikator teknikal, selanjutnya kombinasi teknikal ini digunakan untuk menguji harga saham yang perusahaannya termasuk dalam kelompok LQ45 di Bursa Efek Indonesia (BEI) tahun 2018. Hasil penelitian ini menunjukkan penggunaan kelompok indikator saham dengan persentase keuntungan maksimal dan jumlah hari yang paling pendek adalah yang paling baik. Urutan kelompok indikator dengan kinerja yang bagus ke kinerja yang kurang bagus adalah: Peringkat 1: EMA, MFI, dan RSI; Peringkat 2: MA, MFI, dan RSI; Peringkat 3: MA, MACD, dan MFI; Peringkat 4: MA, MACD dan RSI; Peringkat 5: EMA, MACD, dan MFI; Peringkat 6: EMA, MACD, dan RSI. Kata kunci: Bursa Efek Indonesia; LQ45; jual beli saham; indikator teknikal
Co-Authors Agustinus Adi Santoso Megen Chivianti