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Ni Ketut Surasni
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INVESTOR ASING DAN RETURN PASAR: APAKAH INVESTOR ASING MENDESTABILIZE BURSA EFEK INDONESIA Ni Ketut Surasni; I Dewa Gede Bisma; hermanto hermanto; H Burhanudin; Iwan Kusuma Negara
JMM UNRAM - MASTER OF MANAGEMENT JOURNAL Vol. 8 No. 1 (2019): JMM Maret 2019
Publisher : Master of Management, Mataram University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (638.883 KB) | DOI: 10.29303/jmm.v8i1.377

Abstract

The purpose of this study is to analyze the impact of the presence of foreign investors on market returns on the Indonesia Stock Exchange. To see the impact of foreign investor trading activities, this study proposes three hypotheses that will be proven. The first hypothesis is that foreign investors will increase portfolio diversification or the so-called base-broadening hypothesis. The second hypothesis is that foreign investors will cause price pressures on stocks or the price pressure hypothesis. The third hypothesis is that foreign investors use certain strategies in their trading, namely the feedback trading strategy. Of the 401 companies selected 32 companies as samples. Furthermore, from the three hypotheses proposed, the only proven hypothesis is the price pressure. Thus, foreign investors can cause destabilize prices on the Indonesia Stock Exchange. The destabilize implication is that investors are possible to use negative feedback trading strategies to make a profit.  Keywords: base-broadening, price pressure, feedback trading
PERAN CORPORATE GOVERNANCE PADA HUBUNGAN DEFAULT RISK DENGAN EARNING RESPONSE Hermanto Hermanto; Ni Ketut Surasni; Firmansyah Firmansyah
JMM UNRAM - MASTER OF MANAGEMENT JOURNAL Vol. 8 No. 2 (2019): JMM Juni 2019
Publisher : Master of Management, Mataram University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (433.891 KB) | DOI: 10.29303/jmm.v8i2.423

Abstract

Company default risk will determine investor reaction on the increase of company earning. If financial statements contain information, then financial markets will react as a result of reported earnings. The primary focus of this study aims at analyzing the impact of default risk on earning response coefficient as well as the influence of corporate governance toward the connection between default risk and earning response coefficient. In addition, this study examines the influence of size and growth opportunity toward the earning response coefficient. This is a cross sectional study, analyzing year 2017 sample data. The research sample consists of 49 companies taken purposively from the list of companies in Indonesia Stock Exchange. Results of this study prove that default risk has a negative impact on earning response coefficient and that corporate governance can reduce the negative impact of default risk on earning response coefficient. This study also finds evidence that growth opportunity positively influences earning response coefficient.  Keywords: corporate governance; default risk; earning response coefficient; growth opportunity
Co-Authors Firmansyah Firmansyah H Burhanudin hermanto hermanto I Dewa Gede Bisma Iwan Kusuma Negara