Prabowo, F.X. Agus Joko Waluyo
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PENGARUH INFORMASI POSITIF DAN NEGATIF PADA KONDISI PASAR BULLISH DAN BEARISH TERHADAP RETURN SAHAM (Studi Empiris pada Perusahaan yang Terdaftar di Bursa Efek Indonesia) Cahyadi, Cahyadi Agung; Martono, Cyrillius; Prabowo, F.X. Agus Joko Waluyo
JURNAL ILMIAH MAHASISWA MANAJEMEN Vol 6, No 2 (2017)
Publisher : Universitas Katolik Widya Mandala Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (264.777 KB) | DOI: 10.33508/jumma.v6i2.1767

Abstract

The purpose of this research is to test the market reaction shown by the existence of abnormal return to the change of cash dividend distribution in two different condition that is bullish and bearish market condition in period 2014-2016. The sample used in this research is 165 announcement of dividend up and down. The method used in this study is the analysis of event study to analyze the market reaction in the observation period that is 11 days around the date of the announcement of cash dividends. The results of this study indicate that in bullish or bearish condition, the increase and decrease of cash dividend to be distributed has no impact on market reaction. Therefore, this study does not support signaling theory.
Biaya Operasional Reksadana Sebagai Interverning Pengaruh Karakteristik Reksadana Terhadap Kinerja Reksadana Saham Di Indonesia Harjono, Timotius Hans; Susilawati, Cicilia Erna; Prabowo, F.X. Agus Joko Waluyo
Kajian Ilmiah Mahasiswa Manajemen Vol 6, No 2 (2017)
Publisher : Kajian Ilmiah Mahasiswa Manajemen

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (261.255 KB)

Abstract

This study examines the impact of fund characteristics on the performance of mutual fund through expense ratio as a mediation variable. This research used mutual fund that registered in Indonesia with period of research 2015-2016 and amount of 71 samples. The result found that mutual fund portofolio turnover has a positive impact on fund performance. In addition, total assets of mutual fund have a negative impact on fund expenses and portofolio turnover have a positive impact on expense ratio. The results of this study also found that expense ratio doesn’t mediate fund characteristics and fund performance because expense ratio have no significant impact on the performance of mutual fund. Implication of this research is investor in Indonesia do not focus on mutual fund expenses, they are more concerned about security on their investment and the performance of the mutual funds. However, this make investment managers less focused on mutual fund expenses and more focused on maximizing the performance of the mutual funds by trading them.