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All Journal Journal of Indonesian Economy and Business Economics and Finance in Indonesia The South East Asian Journal of Management Economic and Finance in Indonesia
Rayenda Brahmana
Faculty of Economics and Business Universiti Malaysia Sarawak
Economics, Econometrics & Finance Education

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BAD NEWS ANNOUNCEMENT ON INVESTOR’S MONDAY IRRATIONALITY: INSIGHT FROM MALAYSIA Brahmana, Rayenda; Hooy, Chee-Wooi; Ahmad, Zamri
Journal of Indonesian Economy and Business Vol 27, No 2 (2012): May
Publisher : Journal of Indonesian Economy and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (232.371 KB)

Abstract

The lack of empirical dossiers on the examination of the weekend effect causes intrigues us to investigate its determinant in the trading behaviour perspective. Employingone traditional interaction dummy model, and one day-by-day model, we found the market index and size-based portfolios of weekend effect have been driven by the attention of investor. Further, under the attention bias hypothesis, we confirm that investor’s irrationality during Monday is the driver of the anomaly because of its heuristical bias judgment. We address the difficulties that investors face on searching the thousands of stocks they can potentially deal on the first trading day as the rationalization. In a short, our findings surmise that attention bias is the driver of investor irrationality on Monday and resulting Weekend Effect.Keywords: weekend anomaly, bad news, attention bias, Malaysia stock market
The Seasonality of Market Integration: The Case of Indonesia's Stock Markets Halim, Shieldvie; Brahmana, Rayenda; Herwany, Aldrin
Economics and Finance in Indonesia Volume 59, Number 2, 2011
Publisher : Institute for Economic and Social Research

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (28.873 KB) | DOI: 10.47291/efi.v59i2.62

Abstract

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Planned Behaviour in Purchasing Health Insurance Brahmana, Rayenda; Brahmana, Ritzky Karina; Memarista, Gesti
The South East Asian Journal of Management Vol. 12, No. 1
Publisher : UI Scholars Hub

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Abstract

This research aims to investigate why there is low insurance purchasing in Indonesia. The research framework adopts the theory of planned behaviour in exploring the insurance purchase intention behaviour of Indonesians. Furthermore, this research introduces health value as the moderating variable on the relationship between attitude towards insurance purchasing and the intention to purchase insurance. We take 311 insurance holders from five Indonesian big cities as the sample. The results show that perceived risk and perceived usefulness play important roles in the attitude towards the intention to purchase health insurance. Our findings also show that health value contributes significantly in explaining health insurance purchasing. This research contributes to the body of knowledge by introducing the theory of planned behaviour in health insurance research. Moreover, this research suggests to policymakers or insurance companies how to gauge psychological factors in terms of influencing people to purchase health insurance.
Revisiting Stock Market Integration Pre-Post Subprime Mortgage Crisis: Insight From BRIC Countries Brahmana, Rayenda; Puah, Chin-Hong; Wong, Kai-Hung
Economics and Finance in Indonesia Vol. 61, No. 2
Publisher : UI Scholars Hub

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Abstract

This study revisits the long-run relationships and short-run dynamic causal linkages among BRIC stock market, with the particular attention to the 2008 subprime mortgage crisis. Extending related empirical studies, comparative analyses of pre-crisis, and post-crisis periods were conducted to comprehensively evaluate how stock market integration was affected by financial crises. In general, after employing cointegration test and VAR test, the results reveal the increase of stock market integration in BRICs after the subprime crisis. The evidence also found that China stock market is the most influential among the BRICs, in which China stock market has the ability to Granger cause the other three BRICs member countries. An important implication of our findings is that the degree of integration among countries tends to change over time, especially around periods marked by financial crises.
What Factors Drive Job Seekers Attitude in Using E-Recruitment? Brahmana, Ritzky Karina; Brahmana, Rayenda
The South East Asian Journal of Management Vol. 7, No. 2
Publisher : UI Scholars Hub

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Abstract

In a digital world, job seekers prefer to use e-recruitment for a vacancy searching. Thus, the explanation of the determinants of their attitude in using this technology is left unobserved. This article reports the result of a survey study on how users utilize e-recruitment to search for works. Three hundred eighty-five just-graduated undergraduate students answered questions regarding their intention of using the e-recruitment under Theory of Acceptance Model. We propose Perceived Usefulness, Perceived Ease of Use, and Perceived of Enjoyment as the determinants of the job seekers intention. Results showed that those three variables influence the decision making of job seekers. We found also Perceived Usefulness is the mediating effect for jobs seekers in easy-to-use and enjoy feeling. This article provides evidence that e-recruitment has to be friendly user and fun to use to attract job seekers intention.
Co-Authors Aldrin Herwany Brahmana, Ritzky Karina Chee-Wooi Hooy Gesti Memarista Halim, Shieldvie Puah, Chin-Hong Wong, Kai-Hung Zamri Ahmad