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All Journal JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis dan Inovasi Universitas Sam Ratulangi) EKUITAS (Jurnal Ekonomi dan Keuangan)
Grace Turangan
Universitas Pelita Harapan
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Effect of Loss Aversion on Company Performance in Indonesia Grace Turangan; Sung Suk Kim
JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis dan Inovasi Universitas Sam Ratulangi). Vol 9 No 3 (2022): JMBI UNSRAT Volume 9 Nomor 3
Publisher : FEB Universitas Sam Ratulangi Manado

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35794/jmbi.v9i3.39800

Abstract

The loss aversion bias tends to be done by investors to avoid losses that will psychologically be felt greater than the gain they receive. The exploration on this research in Indonesia, is to see how the impact of investor loss aversion to company economic performance. Using quarterly observation data of 7,535 on 190 companies that are still active, exclude the financial sector and registered as members of KOMPAS-100 during the period 2009-2019. In this research, a regression model with panel data, developed to test the hypothesis which formed on this research, by using two dependent variables ROA and Tobin's Q to see if both variable are supporting the previous research. The results of empirical research prove that both models formed proved that loss aversion impacted negative affect on both selected dependent variables, whether it is with additional control variable or not.
MENTAL ACCOUNTING AND LOSS AVERSION ON INDONESIA FIRM’S PERFORMANCE DURING COVID-19 Grace Turangan; Sung Suk Kim
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 7 No 3 (2023): September
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24034/j25485024.y2023.v7.i3.5356

Abstract

The world shocked by the found of new virus COVID-19 which impact the firm’s performance. The objective of this study is to examine the effect of mental accounting behavior and loss aversion on the performance of companies in Indonesia listed on KOMPAS100 during the period of pandemic COVID-19. The Ordinary Least Square (OLS) regression model on panel data was formed using the two dependent variables ROA and Tobin’s Q. The results show that loss aversion behavior gives a negative impact on company performance, both on variable ROA and Tobin's Q variables and that behavior generally has an increasing impact when the crisis due to the COVID-19 pandemic occurs. While mental accounting behavior also influence on a negative impact on company performance by using the ROA variable along COVID-19 pandemic period, this behavior significantly increased giving a negative impact on company performance. However, these results are not in line with research using Tobin's Q which shows significant results that mental accounting behavior gives positive impact on company performance and the impact increases when crisis period due to COVID-19 pandemic. The research concluded previous research shows that both mental accounting and loss aversion gave impact to the company performance.
Co-Authors Sung Suk Kim